I agree, it would become something else. It would no longer be anti-inflationary. But if it becomes an integrated part of the world economy to such an extent that governments start seeing it as their god given right to fiddle with it, they might decide to introduce inflation as most central banks today would in a strongly deflationary economy. A "healthy" inflation today is considered to be in the 2-3% range. If inflation goes into minus territory this could have as negative consequences for the economy long term as a strongly inflationary economy. I am not saying that it will happen, just that it's a scenario I can sort of imagine happen in the very very long term.
Fair play.
What do you consider to be a long time? say 50 years?
Slightly OT here I guess but I think that actually in 50 years time, when this technological revolution has really got its boots on, then the financial system, and the nature of work and value, and debt and inflation and deflation, are going to have to have changed considerably? I do wonder about that, and how the existing financial system, BTC included, and society in general will have to adapt.
Just one example of the quandry, in 50 years time, it looks as if people will be able to become immortal in various forms.. one of which would be to live in totally virtual environments once your body has faded away, assuming this is possible and does become a reality , where does work and money and finance fit in then? and..... who pays for the hardware?
Without even going to that extreme, I wonder what life expectancy will be in 2065? I also wonder what the state of AI and automation, and nanotechnology will be, and if we will be resource rich? how are all these things going to pan out?
Sounds odd, but it is rushing towards humanity like a maglev in a vacume tube.
50-100 years at least. I am not sure if you're jerking my chain, but if you are trying to say that predicting how society will arrange itself so far in the future, then I agree.
