Well done and succinct argument for "Why Bitcoin Maximalism."
The Ultimate Bitcoin Argument – buff.ly/2zHYXN1
via @MustStopMurad @APompliano
The Ultimate Bitcoin Argument – buff.ly/2zHYXN1
via @MustStopMurad @APompliano
I think the key point is that we have all the tech we need for an uncensorable deflationary electronic currency so one will exist.
My quibbles would be:
1. Argument that lots of investment today is just because there is no form of deflationary money to store wealth and so dentists aren't really investing in Real Estate, but view it as a store of value seems dubious to me.
1. Argument that lots of investment today is just because there is no form of deflationary money to store wealth and so dentists aren't really investing in Real Estate, but view it as a store of value seems dubious to me.
Dentists i know that invest money don't do it because they are afraid of deflation but because they have big egos and want to show everyone how smart they are. Admittedly, the idea of “you gotta beninflation” is a strong narrative but I wonder to what extent it is post hoc?
Another point was that higher consumer spending is a result of high time preference as a result of having an inflationary currency.
Increased consumption to me seems to be more driven by status games. As overall wealth increases, status becomes the last remaining frontier and consumer spending seems like a outgrowth of that more than anything else. Maybe status is defined differently in a post-fiat world?
