hypothesis : Bitcoin will fail because of deflation
--
If bitcoin fails then price will go towards 0
If price goes to 0 then there is no deflation
Conclusion : Hypothesis is false
Topic: Will deflation be the fatal weakness of bitcoin? - page 7. (Read 10623 times)
It's truly astonishing to me how well the public education brainwashing takes hold of people's minds and makes them believe crazy stuff that no rational person would ever consider as logically valid and part of our reality.
This is basically what the OP claims:
W T F?
nice translation This is basically what the OP claims:
Quote
So yea, umm hey guys, you can't have money that gets worth more over time making you richer! You know, because that will cause problems for the economy! You must have money that gets worth less and makes you poorer and it must get worth less by allowing this small gang of psychopaths to counterfeit and steal the productivity of the entire economy, it's only this way that you'll ever have a viable and healthy economy!!!11
W T F?
It's truly astonishing to me how well the public education brainwashing takes hold of people's minds and makes them believe crazy stuff that no rational person would ever consider as logically valid and part of our reality.
This is basically what the OP claims:
W T F?
This is basically what the OP claims:
Quote
So yea, umm hey guys, you can't have money that gets worth more over time making you richer! You know, because that will cause problems for the economy! You must have money that gets worth less and makes you poorer and it must get worth less by allowing this small gang of psychopaths to counterfeit and steal the productivity of the entire economy, it's only this way that you'll ever have a viable and healthy economy!!!11
W T F?
An 'economist' I met while riding a bus saw my bitcoin logo and informed that while bitcoin was an awesome idea, it was going to completely fail because of deflation. I acted surprised to hear this and said "oh, does that mean it will be worth a lot more?" In case you are wondering, yes, yes it will, then it will be worth nothing because everyone wants it so much.
This fallacy is rampant. It's like schools and/or the media are giving everyone vaccinations against the idea of sound money.
This fallacy is rampant. It's like schools and/or the media are giving everyone vaccinations against the idea of sound money.
But to me, I think I treated it as gold as many others did, so maybe we will hardly to use them, just holding to see price up, obviously it will cause the deflation, and then the bitcoin will not be currency any more, but like treasure.
Take a 1,000 people all with 1.0 bitcoin, and 900 are speculators and sit on their bitcoins. Just 100 use it as currency, exchanging these 100 bitcoins back and forth.
Now imagine scenario 2: There are 100 people, each with 10 bitcoins and all 100 use bitcoin as a currency, exchanging them back and forth.
There's no difference between the two scenarios -- they both involve 1,000 bitcoins, and there's the same level of economic activity between the two of them. The difference is that the velocity of the 100 coins in scenario one is much higher than the velocity in scenario two.
Your hoarding does not take coins from anyone else. If that's what you want to do with them, that's perfectly fine. Enjoy!
Till now, bitcoin seems the perfect currency in in the free world, it has many advantages as we can see. Such as convienence, decentralization, no worry of inflation, except for the boring blockchain file lay in system partition.
But to me, I think I treated it as gold as many others did, so maybe we will hardly to use them, just holding to see price up, obviously it will cause the deflation, and then the bitcoin will not be currency any more, but like treasure.
But it is not treasure, and let's consider this situation, one day, bitcoin has been granted, and suddenly a big catastrophe attacks somewhere in the world, and destroyes all, people die, bitcoins of those people then lose forever, so the price up, others will hold their bitcoins more tightly, and no bitcoins are in the circulation.
No curculation, so it can be called curreny?
But to me, I think I treated it as gold as many others did, so maybe we will hardly to use them, just holding to see price up, obviously it will cause the deflation, and then the bitcoin will not be currency any more, but like treasure.
But it is not treasure, and let's consider this situation, one day, bitcoin has been granted, and suddenly a big catastrophe attacks somewhere in the world, and destroyes all, people die, bitcoins of those people then lose forever, so the price up, others will hold their bitcoins more tightly, and no bitcoins are in the circulation.
No curculation, so it can be called curreny?
You're an idiot and should learn how to read/search about a topic that has been discussed to death already.
The answer is no - Bitcoin is deflationary by design, it is not a weakness.
there must be some graphs out there on amount of transactions...
Nope.
Till now, bitcoin seems the perfect currency in in the free world, it has many advantages as we can see. Such as convienence, decentralization, no worry of inflation, except for the boring blockchain file lay in system partition.
But to me, I think I treated it as gold as many others did, so maybe we will hardly to use them, just holding to see price up, obviously it will cause the deflation, and then the bitcoin will not be currency any more, but like treasure.
But it is not treasure, and let's consider this situation, one day, bitcoin has been granted, and suddenly a big catastrophe attacks somewhere in the world, and destroyes all, people die, bitcoins of those people then lose forever, so the price up, others will hold their bitcoins more tightly, and no bitcoins are in the circulation.
No curculation, so it can be called curreny?
But to me, I think I treated it as gold as many others did, so maybe we will hardly to use them, just holding to see price up, obviously it will cause the deflation, and then the bitcoin will not be currency any more, but like treasure.
But it is not treasure, and let's consider this situation, one day, bitcoin has been granted, and suddenly a big catastrophe attacks somewhere in the world, and destroyes all, people die, bitcoins of those people then lose forever, so the price up, others will hold their bitcoins more tightly, and no bitcoins are in the circulation.
No curculation, so it can be called curreny?
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