Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
The price is deflationary, and exactly because the supply of bitcoins is inflating while the wealth of the world is increasing.
If the world's "wealth" -- meaning energy consumption -- continues increasing exponentially then we will all die in fire. If that is your inflationary paradise, we have very different world-views.
I wouldn't equate "wealth" with energy. I would equate it with having the things people want. And that is very different from energy. Production efficiency and scientific progress would increase one's wealth, without necessarily increasing energy ownership or consumption.
Everyone who knows anything about finance knows that a currency has to "punish savers" to work.
No, everyone who is brainwashed by the Keynesian school "knows" that. It is a false knowledge, which has never been true, as history demonstrates abundantly. Saving wealth in money is not good, because money should not be used in saving wealth but used for transacting wealth.
Your complaint about bitcoin boils down to this: You can't force people to use their savings on what you want them to use it for. I regard that as a feature, not a bug.The coin that succeeds is the coin that attracts people by it's utility and use, not because it seems attractive as an speculative investment oportunity.
You don't see the store of wealth use case as a beneficial one. I do.PS: Do people hate "+1" comments? They might seem to be empty of meaning, but I think they matter
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