Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
justusranvier
on 07/12/2013, 22:56:23 UTC
Let's say only 300000 people own bitcoins today and they all decide to hoard their coins for 20 years. How will this new money spread to the rest of the population?
If the rest of the population wants the bitcoins, they will offer of something in trade which the "hoarders" prefer to have instead of their bitcoins. It's the same as any act of voluntary trade.

Who's responsible for forcing people to create and operate the restaurants where you want to eat? Nobody.

If you and enough other customers are willing to pay enough to make it worth someone's time to build and operate restaurant, then they'll do it.

Who's business is it if somebody decides to refrain, for any reason, from spending their currency? Nobody's.