Eventually nobody will be wanting to pay with bitcoin if its only ever increases in price.Like gold is just sitting within guarded fortresses.
Or will there be some kind of system that attaches to bitcoin that makes it possible to use?
Eventually bitcoin will become so high in price that 1satoshi will have to be divided up...
That will be 0.034 satoshi sir!
Of course all this after the whole world exchanges money to btc....
what do you think?
Haircomb token
Haircomb token is the real bitcoin.
>0.034 satoshi
whoa get a load of big guy ova here, you gonna buy a lambo with that? get out of my deli before i call the cops!
>Haircomb token
that name though......
seriously?
wait a minute,,,, if i rarrange her name Satoshi Nakatomo comes out
HOLY SHIET!
NAKAMOTO IS A WAMAN
Or he is just using a woman as a face to create a solution....kind if trolling us....I see
well played
That's one of the reasons bitcoin won't work as a currency (among a long list). When you have permanent deflation, why would you spend money?
Investment will grind to a halt, and that's why a small amount of inflation is considered healthy. You want to incentivise people to invest in businesses that will generate them a return higher than inflation. It keeps money circulating and the economy going.
AnCaps are top brainlets. They don't know how capitalism works, and they stole their name from a long tradition of left-wing thought (while opposing true anarchists).
Meme ideology.
first of all, you can already divide satoshis. they have done this on LN. everything that is digital is infinitlely divisable, well as much as your computer memory can handle/calculate
Crypto is the better money. no one will want to pay with it until their worse money is gone. so it will moon until it sucks up all the fiat on earth eventually.
forgot picture
I don’t think anybody is actually AnCap.. if they were, who cares they’re probably weirdos
Bitcoin is just like gold. A somewhat limited ressource with next to no objective value. It just so happened that all the "bad guys" stick to the convention, that if you trade drugs for BTC you can trade the BTC for dollars afterwards. So the only "value" that BTC has, is that it is less traceable than dollars. Once the convention is overthrown, BTC becomes worthless.
tl;dr BTC is just a surrogate for $$$
wrong.
I had bitcoin since 2009 and have been using it to pay for things like many other people.
The whole deflation argument is stupid, think about it.
Computers/phones with certain specs, will always go down in dollar price in the future, that is, the dollar will always appreciate relative to computers. So, logically, people should never buy computers/phones/cars or any depreciating assets since they can get more for their dollars tomorrow.
Low iq take.
>So, logically, people should never buy computers/phones/cars or any depreciating assets since they can get more for their dollars tomorrow.
And that is why I paid like 100$ in the last 5 years for any electronic device. Desktop PC - got it for 20$ from a friend. Not top nodge but decent. Phone? I get them for free from relatives and friends that bought a new one and dont know what to do with the old device.
RLC , IT'S NOT OVER
>Personal anecdote > centuries of macro economic theory and empirical evidence
There's nothing more endearing than a retard who thinks he's smart.
>personal anectode
are you implying that the computer industry, phone industry, car industry, luxury goods industry and so on should be worth zero?
Because according to your idiocy no one would ever exchange something that will be worth more tomorrow for something that will be worth less tomorrow. The fact that those industries exist and have huge non-zero revenues, is a proof (non-anecdotal) that the op is wrong
What percentage increase in bitcoins value would prevent people from spending it?
Lots of countrys have banks with 10-20% interest rate, US had it briefly in 80s and spending doesnt stop.
This is not about your Xbox kid, this is about large scale institutional investment.
A lot of new companies would not exist because, in order to raise capital, they would have to promise and deliver more than the normal risk + whatever return investors could get just by hoarding the currency.
The economy would get severely impacted, since no new jobs are created.
Do you think governments try to maintain a small but positive inflation rate just to annoy you? There's tons of data for why this is a good idea.
checked and kekked
stop posting brainlet
tbf inflation is normally pretty high when interest rates are that high
>When you have permanent deflation
there is inflation until 2140 brainlet
IT'S OVER GILLES!
Seems pretty simple when looking at it longterm.
Fiat only has value, because there is a network of nations using fiat. Aside from that, its simply an idea which is based on convenience.
BTC is growing a massive international network and real world use cases. It also, unlike fiat, grows in value rather than lessens in value making it the preferable store of wealth. I cannot see how it will not take over as primary currency eventually.
>a small amount of inflation is considered healthy. You want to incentivize people to invest in businesses that will generate them a return higher than inflation
parasite. inflation is a silent tax on middle class wealth.
In a deflationary environment where the value of your savings grows steadily, you will only invest in (or buy) something if it will being you more value than holding your stack will. This incentivizes stable growth & investment in only the best investments, not highly speculative stocks of companies than have negative revenue etc.
the global economy has been like this for the past 6000 years (gold as a unit of measuring wealth), fiat currency is only 50 years old - an infant experiment. Bitcoin fixes gold's limitations and saves ordinary families from the likes of you & other scam economists with an inflation target.
>peter schiff told me
Bitcoin is facing a huge uphill battle towards becoming an accepted currency in the way OP is describing. Read the article "The Political Economy of Bitcoin"
LOL
Kek
I even moved on user, go to ARPA there's a few of us moving there
