Post
Topic
Board Economics
Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow)
by
DeathAndTaxes
on 29/11/2013, 18:06:27 UTC
Simple version:
a) Bitcoins in bank = losing purchasing power daily.
b) Bitcoins not in bank = gaining purchasing power daily.
Your conclusion: The vast majority of people will knowingly opt for "a".

If the bank doesn't fail you get your bitcoins back plus interest. Without a bank there you wouldn't get anything, just saved your bitcoins...

Which increased in purchasing power.  Oh noes.  I only have the same number of Bitcoins but now they buy 10x as much stuff and I unlike my neighbor I didn't lose everything when the wildcat bank failed.   What ever will I do with all this new found wealth.