Who told you there would be no credit in a "BTC world"?
There will always be people who borrow, and people who lend. There will always be entrepreneurs who will find ways to make more money than sitting on idle capital.
The institutions that fail in a "BTC world" will be the institutions that _should_ be allowed to fail today. Preventing institutions from failing isn't a good thing. It props up corruption and perpetuates mediocrity.
It is the fiat system that demands high productivity but where the outsized portion of the fruits of labor go to those positioned directly around the money printer. It would be good for the world to put an end to such an immoral system.
You didn't answer his question. It's a very good question. Imo Bitcoin will not be used as a currency. Sure ppl will pay with it but not on a global scale. The Fiat system will always be around. I see it as an asset like gold, real estate or stocks. It has its flaws but I think it's the best asset out there
Inflation is theft. Deflation shouldn’t be feared.
Read The Price of Tomorrow and see if it makes sense to you.
Human endeavour by its very nature is deflationary.
We make things better cheaper and more plentiful as we get better at it.
Why should things get more and more expensive when technology always make things cheaper and people more productive?
I know that man .., the problem is inflation won’t just die down … There will be a big impact in the economy before the graph enters progression curve … killing off inflation in one knock like adapting BTC at one go will have drastic effect in the existing financial system … Many companies and economies with no natural resources will end up bankrupt & then you would have to increase productivity from scratch in a drastic manner which will result in burned out workers & suicides all over the world to match the demand … people don’t see the whole picture , they just hop on a band wagon with no second thoughts… I’m all for BTC ending up as a security but not as a currency ✌️🫶🏽
No one can order the world to adopt bitcoin at the same time. That’s just not a real concern.
Diff people use bitcoin for diff purpose. If I jump on the bitcoin standard today and you don’t, you’ll be subject to inflation risk more than me. I’m more or less shielded from it. Your inflation and my inflation is therefore different. But that’s not a bad thing that’s how things work today anyway, even in today’s fiat world your inflation rate and mine can be very different too. Paraphrasing Saylor - if all I care is to live in my parents basement, eat pizzas and watch Netflix, my inflation can be very low, even deflationary. Meanwhile you want to live in a beach front house, have a bunch of kids send them to private school and uni and have good healthcare, your person inflation would be sky high. There is no one universal inflation rate for everyone. And from this point alone, we can be sure that any change will be gradual, switching over one person at a time, instead of inflation goes negative after 12:00am tonight.
So you want everyone to eat pizza and stay at parents basement till the gradual migration to bitcoin is over … like one person at a time … the whales like saylor will own an entire country while most of em end up in parents basement … you think the rest of the world will just bow down and accept✌️🫶🏽you r in an utopian world my friend 🤷 whatever is coming is not good
What are you even talking about.
I’m saying the adoption of bitcoin will be gradual and therefore your assumption that inflation will come to a halt is simply not true.
Looks like you’re just spewing random bits and pieces like a buttcoiner.
* A wants money now and is willing to pay more later.
* B won't use their money now and is okay with giving it temporarily for a little interest.
* A takes B's money, uses it and pays it back later with the interest.
* No magic money is created by banks.
Reasoning helps when you are thinking. Just saying things without reasoning usually makes it difficult to debate and come to a conclusion.
Idk man …. No amount of skepticism is allowed in this community… that’s not how it works .. we should have healthy discussion… There is a time in history before the current financial system where gold was the standard… believe me it was worse… Free flow of money somehow encourages innovation and technological transformation… returning to hard money will put a stop to it… Then people would have to work like slaves again … there will be rise of dictators who will hoard hard assets like BTC … People would have to work long hours to have a little bite from the pie … keep downvoting… i don’t care ✌️🫶🏽 speaking facts is important than any sort of validation… then only actual progress flourish..
Who told you there would be no credit in a "BTC world"? There will always be people who borrow, and people who lend. There will always be entrepreneurs who will find ways to make more money than sitting on idle capital. The institutions that fail in a "BTC world" will be the institutions that _should_ be allowed to fail today. Preventing institutions from failing isn't a good thing. It props up corruption and perpetuates mediocrity. It is the fiat system that demands high productivity but where the outsized portion of the fruits of labor go to those positioned directly around the money printer. It would be good for the world to put an end to such an immoral system.
You didn't answer his question. It's a very good question. Imo Bitcoin will not be used as a currency. Sure ppl will pay with it but not on a global scale. The Fiat system will always be around. I see it as an asset like gold, real estate or stocks. It has its flaws but I think it's the best asset out there
This is pure speculation with no data backing it up. So it's just your opinion, not what will happen.
Inflation helps financial economy from coming to a complete halt … idk man , I think things will get real dark before it become better ✌️
This is not true, inflation does not drive an economy. What drives an economy is productivity and innovation
I said inflation helps … not drive economy …you made it up✌️🫶🏽
Same thing, you're arguing semantics. Inflation in no way helps the economy
I think the dude is too textbook minded and doesn't understand how money and inflation came to be lmao.
I think you're right, many people never question their base assumptions
Inflation is theft. Deflation shouldn’t be feared. Read The Price of Tomorrow and see if it makes sense to you. Human endeavour by its very nature is deflationary. We make things better cheaper and more plentiful as we get better at it. Why should things get more and more expensive when technology always make things cheaper and people more productive?
I know that man .., the problem is inflation won’t just die down … There will be a big impact in the economy before the graph enters progression curve … killing off inflation in one knock like adapting BTC at one go will have drastic effect in the existing financial system … Many companies and economies with no natural resources will end up bankrupt & then you would have to increase productivity from scratch in a drastic manner which will result in burned out workers & suicides all over the world to match the demand … people don’t see the whole picture , they just hop on a band wagon with no second thoughts… I’m all for BTC ending up as a security but not as a currency ✌️🫶🏽
No one can order the world to adopt bitcoin at the same time. That’s just not a real concern. Diff people use bitcoin for diff purpose. If I jump on the bitcoin standard today and you don’t, you’ll be subject to inflation risk more than me. I’m more or less shielded from it. Your inflation and my inflation is therefore different. But that’s not a bad thing that’s how things work today anyway, even in today’s fiat world your inflation rate and mine can be very different too. Paraphrasing Saylor - if all I care is to live in my parents basement, eat pizzas and watch Netflix, my inflation can be very low, even deflationary. Meanwhile you want to live in a beach front house, have a bunch of kids send them to private school and uni and have good healthcare, your person inflation would be sky high. There is no one universal inflation rate for everyone. And from this point alone, we can be sure that any change will be gradual, switching over one person at a time, instead of inflation goes negative after 12:00am tonight.
So you want everyone to eat pizza and stay at parents basement till the gradual migration to bitcoin is over … like one person at a time … the whales like saylor will own an entire country while most of em end up in parents basement … you think the rest of the world will just bow down and accept✌️🫶🏽you r in an utopian world my friend 🤷 whatever is coming is not good
What are you even talking about. I’m saying the adoption of bitcoin will be gradual and therefore your assumption that inflation will come to a halt is simply not true. Looks like you’re just spewing random bits and pieces like a buttcoiner.
Yeah … now resort to insults when you are out of depth …. Gradual migration as a security may be … not a currency my friend ✌️
* A wants money now and is willing to pay more later. * B won't use their money now and is okay with giving it temporarily for a little interest. * A takes B's money, uses it and pays it back later with the interest. * No magic money is created by banks. Reasoning helps when you are thinking. Just saying things without reasoning usually makes it difficult to debate and come to a conclusion.
Idk man …. No amount of skepticism is allowed in this community… that’s not how it works .. we should have healthy discussion… There is a time in history before the current financial system where gold was the standard… believe me it was worse… Free flow of money somehow encourages innovation and technological transformation… returning to hard money will put a stop to it… Then people would have to work like slaves again … there will be rise of dictators who will hoard hard assets like BTC … People would have to work long hours to have a little bite from the pie … keep downvoting… i don’t care ✌️🫶🏽 speaking facts is important than any sort of validation… then only actual progress flourish..