Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is being invaded by Leftists
by
RealBitcoin
on 15/10/2016, 12:11:56 UTC
one software doesnt need to prevail and decisions should not be based on the economic majority.
lets explain:
Your explanation is wrong. Economic majority is represented by those, who are transferring btcs, e. g. doing business. Not just hodling - that doesn't create economy (not that it's wrong to hodl per se). Miners are rewarded by those who make transactions.

The problem in your seek of consensus are chinese miners. They will have to either grow their bandwith or go home. Trouble is, this will not happen through night.

No, that is keynesian nonsense again.

I cannot believe academics are so dumb to eat this keynesian nonsense.


The people that hold/hoard/store wealth are the most important people for the economy. Inactive wealth is not irrelevant, it is what gives value to the wealth that is spent.

If everyone is spending then the value of currency drops, if everyone is hoarding then the value of the currency rises. So it is preferable if nobody is spending, although then the economy doesnt grow.

Therefore many economists suggests that a 50% savings 50% spending ratio is optimal, so that there is enough capital for investment, and there is enough demand for the products to be purchased.


Currently more people are hoarding than spending ,so that ratio should go to down to 50%, but still the hoarders are very important. Both spending as hoarding is crucial.