Bitcoin is very different from gold: gold were constantly mined, while bitcoin mining will stop. With the growth of economy there will be growing demand for money, which will cause high interest rates - ie volatility. Bitcoiners believe into that with the memes “number go up” and “∞/21m”. Until the end of mining era the volatility will be severe - and hyperbitcoinisation makes this only worse.
Thus businesses has to outcompete the overall economy growth + premium on top for borrowed bitcoin interest + their own business margin.
No, businesses will not use bitcoin, they will invent their own liquid money w/o this inneded properties. The market Austrians love will decide against bitcoin adoption as money.
dr.orlovsky / Dr Maxim Orlovsky
npub13m…5mnym
2023-05-17 12:15:43
in reply to nevent1q…cl8d
Author Public Key
npub13mhg7ksq9efna8ullmc5cufa53yuy06k73q4u7v425s8tgpdr5msk5mnymPublished at
2023-05-17 12:15:43Event JSON
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"content": "Bitcoin is very different from gold: gold were constantly mined, while bitcoin mining will stop. With the growth of economy there will be growing demand for money, which will cause high interest rates - ie volatility. Bitcoiners believe into that with the memes “number go up” and “∞/21m”. Until the end of mining era the volatility will be severe - and hyperbitcoinisation makes this only worse. \n\nThus businesses has to outcompete the overall economy growth + premium on top for borrowed bitcoin interest + their own business margin. \n\nNo, businesses will not use bitcoin, they will invent their own liquid money w/o this inneded properties. The market Austrians love will decide against bitcoin adoption as money.",
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