Post
Topic
Board Bitcoin Discussion
Re: Why do some people refuse to accept bitcoin?
by
kryptqnick
on 16/01/2019, 20:13:23 UTC
This article is not completely right.
Quote
ultimately money relies on the inflation rate and trust network
This, for example, is not true. While most of the countries rely on stable inflation rate, because people are thus more motivated to buy goods and services, knowing that the cost will increase, Japan has shown that deflationary economics can still work. Some argue that this approach is just not well-known and researched, but things could still work this way, because people buy the goods they need today right now, even if they'll be cheaper in months.
And another problematic point is here:
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Now that there is a free and open market for currencies, you must (it’s not optional) pay really close attention to the properties of each currency to protect your wealth because if one currency gets larger over time, it means that the purchasing power of all other currencies decreases.
You see, when some cryptos increase their marketcap, it doesn't mean that others go down. The total crypto market can increase altogether with the purchasing power of cryptos as such increasing.