Quote from: alexeft on April 15, 2013, 09:52:32 PM

There is a carrying cost in bitcoin too. It is the mining cost. It has to be paid with most transactions.
Isn't that enough?

The mining costs clearly get passed onto new people entering BTC, ask yourself, how is the person saving BTC paying for ongoing electrical consumption when their wealth is going UP, that is the opposite of paying for something, that's being paid.

Quote from: kjj

I don't point out your obvious Keynesianness as an ad hominem, but rather to simplify the refutation. The school of economic thought that you follow is not taken as gospel here. Merely repeating what you've found in your textbooks will not win you many arguments here.

Pointing out that I am in the minority is not a refutation, it is a simple logical fallacy that is all. Further more are am well aware that Keynsianism is not gospel here, rather it the rejection of Keynsianism which is the gospel. Thus I find it necessary to defend people like the OP and point out the errors of the majority position.

Here is a question, why dose the saver get interest for a loan when it is loaned just to another consumer. The borrower simply performs the consumption of goods that the lender has deferred, their is no overall reduction of consumption, yet the lender still takes interest.

porcupine87: I never said that all goods decay, please read what I wrote. I said that non-decaying goods are a small fraction of the basket of goods necessary to live. And goods necessary to live are always going to be desired regardless of what money is made of. When a non decaying commodity is made money then it gives money an unfair advantage over the basket of goods. All money has time-value because it is universally accepted and can act as a wild-card to satisfy unanticipated needs or to take advantage of unanticipated opportunities. The holder of non decaying money thus received the benefit of liquidity without paying for it, and they can rent out that benefit to earn interest which is how the magic of loss-less savings happens, it's just an inflow of interest to the money holder.