Quote from: rdluffy on May 20, 2019, 03:46:26 PM

So, what's money in your opinion?

Because it's just paper and coins for me Grin

I see it as a means to obtain goods. After 5 years of hyperinflation, i lost any attachment for physical money, i don't particularly care if the transaction is electronic, if it has 1 zero or 8, its all meaningless. Its basically, the means of being able to purchase something you need.

And for me using satoshis or bitcoins is just as effective. Fluctuation? Meh, bitcoin is rock solid next to our garbage fiat. Every single day prices change under hyperinflation, so who cares bitcoin does the same?

Only people living in first world economies would, they just don't know anything else. I would feel weird not to check the new price of an item everyday. What, do you mean it remained the same as yesterday? Quick, buy it before it changes...

Under deflation, things are expected to slowly become cheaper, as in 2% annually. I expect something like this to occur in 50 years or so, when bitcoin fluctuates less and less due to reaching maturity. The fiat currencies are probably going to get weaker and weaker and start fluctuating, downwards, of course. The moment world economics start noticing and switch to Austrian school, abandon fractional reserve banking and reduce or remove all State intervention in the economy, finally embracing the way deflationary coin with actual voluntary money savings, the one YOU (optionally) pay banks to keep your money safe, and not the other way around.

Of course banks are going to shrink, but what money they declare becomes real and not like today where 90% of the "circulating" money is vapor. To make it simple: When bankruns cannot bankrupt a bank anymore. Like the bank of Amsterdam once had...