Quote from: Lucius on February 21, 2020, 11:14:59 AM

I can see in which direction you are aiming, and I cannot say that I do not understand your concern, but what if BTC had no limited supply? It is very likely that this would primarily affect its price, and would be subject to greater manipulation than it is today. However, it will take more than 100 years to mine all BTC, although in a little over 10 years this percentage will reach 99%.

For me BTC is store of value, but also a currency which I use regularly. That is not going to change no matter of the price, and I believe that some people think the same. Volatility is problem, but I think it will decrease in the future.

Gold has a long history, has proven to be a store of value, has an application in industry, and has a status symbol in some cultures. No one can dispute that, and I think it's in some ways wrong to compare gold and BTC, but I understand the human obsession with such things.

Bitcoin is a good long-term Store of Value. But it doesn't have the balance to make good money (Store of Value and transactions). Deflationary money creates parasitic/rent-seeking behaviors. People in feudal societies have to migrate to find new lands. Feudal lords, knights, and kings always end up controlling real estates. They were rent-seeking on people's labor. Gold rushes were brutal. But they offered people an escape from the tyrants.

When hyperbitcoinization happens, bitcoiners will become the new kings and lords whether they want it or not. They're certainly free and have servants until another ambitious tyrant decides to seize their bitcoins by violence.

I think Bitcoin would make a better form of long-term money if it has small inflation, like 1%. It'll truly compete with gold. But the ship has sailed. We cannot change. Gold can make a comeback. It always did.