How do we have something be the unit of account when it "artificially" has its supply cut in half every 4 yrs? Does this make it a better money tbat's tied to reality as we all say it does? Our "reality" will be cut in half every 4 year. Just cause the monitary policy isnt controlled by humans does that make it better? Id absolutely say it does but that doesn't mean I think bitcoin's policy is the best.
What does the average citizen do when they know halvening is coming? They stack as hard as possible. It's a huge incentive to hoard and not to spend.
I bet once bitcoin becomes reserve currency we fork and completely change the issuance rate to something less dramatic. 😬
I also think an incredibly hard money creates demand for a much less hard, easier money. This is something the Keynesians say that the Austrians don't seem to acknowledge from what I've heard. And I think this is how currencies are supposed to compete, an alpha and beta, just with supplies that are not in the control of humans.
Pleb34
npub1fs…e0w2s
2023-03-30 04:34:08
in reply to nevent1q…76rn
Author Public Key
npub1fsxvq0p5mn230p4pleutcemqstzm8mt58w6hkuvp8ct83n998x9sse0w2sPublished at
2023-03-30 04:34:08Event JSON
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"content": "How do we have something be the unit of account when it \"artificially\" has its supply cut in half every 4 yrs? Does this make it a better money tbat's tied to reality as we all say it does? Our \"reality\" will be cut in half every 4 year. Just cause the monitary policy isnt controlled by humans does that make it better? Id absolutely say it does but that doesn't mean I think bitcoin's policy is the best. \n\nWhat does the average citizen do when they know halvening is coming? They stack as hard as possible. It's a huge incentive to hoard and not to spend. \n\nI bet once bitcoin becomes reserve currency we fork and completely change the issuance rate to something less dramatic. 😬\n\nI also think an incredibly hard money creates demand for a much less hard, easier money. This is something the Keynesians say that the Austrians don't seem to acknowledge from what I've heard. And I think this is how currencies are supposed to compete, an alpha and beta, just with supplies that are not in the control of humans. ",
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