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Topic: You are all dumb and got warned this would happen. - page 4. (Read 6007 times)

hero member
Activity: 756
Merit: 500
Seriously, for a long long time people have been saying "bitcoin is a bubble bought on by the greed of idiots" and now after the second major price crash caused by exactly this people might realise this. Deflationary currencies like gold and silver (and bitcoin!) do not work for this very reason. There is a reason that most government issued currency has an inflation rate and it is specifically to stop people just collecting a ton of it and hoarding it and waiting for it to go up in value and thus encourage people to actually use their money or invest it.

Bitcoins are fundamentally flawed for this reason. Why should anyone spend now what will be worth more tomorrow? Why should anyone invest in anything or buy anything when tomorrow you could buy twice as much?
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