The Great Depression deflation

in bitcoin •  7 years ago 

How is that SOV working out for you? And with merchant adoption dropping, how can you exchange for goods and services? And why would you? It's irrational to spend now if you can buy more with it in the future according to the deflationary gospel

The internet had a lot of kinks to work out too... And I expect the value to grow until it reaches critical mass. It will still fluctuate relative to other currencies, but the speculative frenzy will die off when the massive upside potential is no longer a possibility.
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You are stating it will be solved in the future, but you don't explain why would it be solved? The very things that prevent bitcoin from being a useful currency are stated as features by its supporters who had the privilege of not living through the Great Depression deflation

In the 1920's there were ~$17B USDs in circulation, while the avg household income was ~$1,400/yr. Today, with roughly $20.5T USDs in circulation, to have the same relative purchasing power, you'd need to make $1.4MM/yr. What should that tell you about inflationary currency?

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