Yeah I hear it from both bitcoiners and it's critics.
Bitcoiners describe how fiat is infinite and bitcoin has a cap of 21 million, and that there will never be any more. They highlight that places experiencing rampant or hyper inflation need a "deflationary currency" like bitcoin so that they can preserve their life's value across time. I heard something like this today from nico (npub1gu4…907g) from Simply Bitcoin when he was speaking on a local news broadcast. (Not meaning to only call Nico out on this, just the most top of mind mention).
From critics, they say, that money needs inflation, and that because bitcoin is a "deflationary currency" only the people who got in early will have any and that over time the money will disappear, leading to a feudal age-like hellscape.
I think Jeff Booth (npub1s05…eyhe) that as the money is scarce, all other assets will experience deflationary pressures and become more appropriately priced in. I think this is what you're referring to?
I just think it's important we use the right words to describe things, as bitcoin will be assessed on how it is presented and if we don't describe it accurately, people may misunderstand it at a basic level.
everythingxbtc / everything × bitcoin
npub14s…wy5ez
2023-03-17 00:33:36
in reply to nevent1q…vvry
Author Public Key
npub14slmgd4xvwe93ym90a9k50va9updr96tkh8dvql56rywuvkhuz3qjwy5ezPublished at
2023-03-17 00:33:36Event JSON
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"content": "Yeah I hear it from both bitcoiners and it's critics.\n\nBitcoiners describe how fiat is infinite and bitcoin has a cap of 21 million, and that there will never be any more. They highlight that places experiencing rampant or hyper inflation need a \"deflationary currency\" like bitcoin so that they can preserve their life's value across time. I heard something like this today from #[6] from Simply Bitcoin when he was speaking on a local news broadcast. (Not meaning to only call Nico out on this, just the most top of mind mention). \n\nFrom critics, they say, that money needs inflation, and that because bitcoin is a \"deflationary currency\" only the people who got in early will have any and that over time the money will disappear, leading to a feudal age-like hellscape.\n\nI think #[7] that as the money is scarce, all other assets will experience deflationary pressures and become more appropriately priced in. I think this is what you're referring to?\n\nI just think it's important we use the right words to describe things, as bitcoin will be assessed on how it is presented and if we don't describe it accurately, people may misunderstand it at a basic level.",
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