This is how bitcoin will turn the world into better place I believe! - page 2.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: Coinfan on July 16, 2014, 09:15:05 PM

A deflationary economy will be a tragedy.

Yeah - that's exactly why nobody buys computers or cell phones. If they wait three months, they'll get twice as much for the same cost. Accordingly, nobody buys computers or cell phones, driving the entire industry towards bankruptcy.

Damn deflation ruins everything.

Coinfan

full member

Activity: 653

Merit: 217

A deflationary economy will be a tragedy.

As stated, people think twice before spending, they are always expecting that prices will go down. That will contract aggregated demand and create a depression.

Besides, a deflationary economy means that if you borrow money you will have to pay interest, plus deflation, therefore it's very hard to invest, only very profitable investments would survive. That limits investment and without it the economy is dead.

Kayex

member

Activity: 84

Merit: 10

Quote from: pedrog on July 16, 2014, 08:31:26 PM

Because there aren't any frauds in Bitcoinland...

You can't fraud btc. (Not that I know of)
However, similar to any paper currency or online currency, it can be stolen.
So in a sense, it can be the same as any currency out there.

slaveforanunnak1

hero member

Activity: 743

Merit: 502

Quote from: cuddaloreappu on July 16, 2014, 08:37:58 PM

Quote from: pedrog on July 16, 2014, 08:31:26 PM

Because there aren't any frauds in Bitcoinland...

execpt mt.gox and butterfly labs and , and...

To be fair, he didn't say anything about outright theft! I will quote his important point however.

Quote

Those merchants who offer lowest price will survive in the market.

all these leads to responsible spending, efficient market dynamics and above this the democracy and Goverment will become open as all their transactions will be available in public, this roots out corruption.

cuddaloreappu

hero member

Activity: 756

Merit: 502

Quote from: pedrog on July 16, 2014, 08:31:26 PM

Because there aren't any frauds in Bitcoinland...

execpt mt.gox and butterfly labs and , and...

pedrog

legendary

Activity: 2786

Merit: 1031

Because there aren't any frauds in Bitcoinland...

cuddaloreappu

hero member

Activity: 756

Merit: 502

The deflationary nature of bitcoin which will appreciate in value so much say a million dollars per coin and beyond, that it discourages spending and encourages saving..

Every merchant across the globe will wish to have some bitcoin and hence offer their services for bitcoins to the point that they accept only bitcoins for their products and services.

So ultimately any hardcore Hodler cannot continue Hodling forcing to spend to get daily bread as well as luxury things, but will think before spending twice!

Those merchants who offer lowest price will survive in the market.

all these leads to responsible spending, efficient market dynamics and above this the democracy and Goverment will become open as all their transactions will be available in public, this roots out corruption.

Thus the world will be a better place and everyone will live happily ever after.

Topic: This is how bitcoin will turn the world into better place I believe! - page 2. (Read 1943 times)