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Anonymous
Explain why this is stupid 2017-08-14 10:23:12 Post No. 3057340
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Explain why this is stupid 2017-08-14 10:23:12 Post No. 3057340
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If Bitcoin (or any cryptocurrency) just keeps increasing in value... doesn't that make people reluctant to actually use it as a currency? Isn't that a fundamental flaw, if everyone keeps holding, holding, holding hoping to eventually reach $1000,000/BTC or something?
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>>3057340
Do not think, just buy.
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No, because the desire to buy something will eventually outweigh the greed.
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>>3057340
It's just like gold
nobody actually use gold as a currency
but when gold owners need fiat, they might sell some
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>>3057426
Worst advice possible, because that's how poor people brains work.
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>>3057340
They say we need inflation because else we won't give our money away.
The Reality is that deflation will make you so rich that at some point you don't care giving something away.
When a lambo costs 1% of what you have instead of 50% its easier to buy one.
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>>3057426
>>3057479
>>3057513
>>3057513
ITT: fucking retards.
It's a great question OP and your assumption is correct. Bitcoin or any other deflationary currency will never be used as a global medium of exchange. Here is why:
>wages would need to shift downwards instead of upward.
>it makes something like loans next to impossible to implement. IOU 100 today add 4% interest to this over 10 years while the same amount will be worth 10% more
>inb4 loans are the root of all evil
No they are not. They process by which loans are created in fiat is shit. Loans themselves are a genius invention and any business owner or family would be totally fucked without them
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