/biz/ - Business & Finance

>>25506980
Gib milkies Ukraine mommy

>>25506980
holy fuck how does she look so american here

>>25506980
bitcoin is being seen as gold instead of fiat.
something valuable to own and invest in. a standard.

>>25506980
>2) Its value is stable and is not subject to inflation or deflation
Do you even know what Bitcoin is?

>>25507072
If bitcoin is being seen as gold, wouldn't that be it would be a bet against fiat? So if it's a bet against fiat, in a crypto economy (post-fiat), what would be used to facilitate trade.

>>25507114
Did you even read the whole post?

Mommy

>>25507148
is gold a bet against fiat? i dont understand. the fiat replacer is not bitcoin, its stablecoins.

>>25506980

>>25507208
Yes, gold is a bet against fiat. Gold bugs buy because they think fiat currencies will lose their value.

Also, with stablecoins, what makes them different from fiat? They have no inherent value like fiat and the only way for it to be stable is for supply and demand to not change. If demand increases, supply will have to increase to make it stable and that causes inflation.

>>25507072
>standard
It’s been four fucking years and now that it’s over, I still get post-burning vietnamese children shivers every single time I see the word

>>25507024
>>25507054
name pls

>>25507479
lurk more.

>>25507496
nvm, she looks nothing like the typical photos here

>>25506980
Austrian

>>25507619
Take that back :(

>>25506980
Ok, I will
First of all Bitcoin doesn't *need* to be used as a currency for everyday use, even half finney back at the beginning observed the possibility of bitcoin banks and fiat currencies based on bitcoin
Stablecoins could also be used for this purpose
However, the lightning network is quickly becoming advanced enough to handle transactions at scale, so bitcoin could indeed be adopted directly as a currency also

A currency doesn't need to inflate to be used, just like gold for thousands of years
It just changes how the society behaves, and probably for the better
A hard money currency encourages the opposite things an inflationary one does
Fiat encourages spending, short term thinking, consoomerism, and literally promotes the poorfag mindset of "I've got hole burning in my pocket" when you get paid
Hard money obviously promotes saving, getting richer over time by choosing to allocate resources carefully, and long term thinking

We already operate in certain areas of the economy under a deflationary system
For example, every year the cost of a transistor gets almost cut in half, similarly tech is always getting slightly better and better, and yet you still need to buy a computer every few years
It's not like you wouldn't need to buy food, shelter, utilities and lifestyle stuff in a deflationary environment
But can you imagine if our world wasn't filled with plastic crap just so a chinaman can get a paycheck and we can feel like we're getting something for all that lost purchasing power?

>>25506980
All good hard money gets bought up and taken out of circulation. all good assets that function as stores of value do too. BTC can function as a currency but who youre right no one will want to use it if it keeps going up in value. That’s fine though. As long as hard money exists as a store of value the derivative medium of exchange will be sound too as long as people can still freely trade.

In other words BTC doesn’t have to be traded(but it will) to work. Bitcoin is an index fund on actual production output and a constant leveraged short on unsound money.

Just buy existing hard money causes unsound money yo either shape up or collapse.

It sounds like you might not fully get btc yet OP. It’s utility is already really high by being what it is now

>>25506980
This time it's different. Goodbye.

>>25506980
Wrong.

BTC being deflationary is actually not a new concept for a global currency. Under the gold standard, currency was also mildly deflationary, as it reached its zenith under the conditions of improving technology as the industrial revolution spread. The overall trend of technology is to be deflationary as efficiency gains and competition cause prices to drop in real terms. This actually happened over time with the gold standard; although it was not drastic deflation.

Bitcoin with it's deflationary inflation rate obviously could be more drastic in its price appreciation in real terms HOWEVER current trends in technology are possibly the MOST deflationary technological trend in the history of civilization, far more so than the industrial revolution and over a shorter time frame. For this reason, bitcoin may actually be perfectly suited to serve as a global currency at a time when, if central banks were not hellbent on money printer go brrrr inflation, we would be experiencing massive deflation.

>>25506980
nobody cares if BTC isn't good for transactions. Regardless of what anyone's initial vision may have been, it's cemented its place as a store of value