Time
Houston we have a hard cap, no softcap, no i forgot my cap. But we definitely maybe have a problem.
Inspirational song for this text, Kansas - Dust in the Wind (1972 - present)
The thought of the transience of all earthly things is a source of infinite suffering - and a source of infinite consolation. (Marie Freifrau von Ebner-Echsenbach (1830 – 1916))
We are all exposed to the merciless virtue of time.
Fruit and vegetables decay, machines get broken, yes even those with bitcoin wallets, human workforce diminishes, money, money also has its inflation, in simple words, inflation is moneys tribute to time.
In economics, inflation is a sustained increase in the price level of goods and services in an economy over a period of time. Result money is worth less.
Tribute to, Chrono Trigger - Memories of Green, Yasunori Mitsuda, Square Enix
Well there is a one constant that withstand the time, love, love lasts forever, I Heard It Through The Grapevine - Marvin Gaye (1939-1984)
Bitcoin with hardcap 21.000.000 coins, wants to defy inflation. In the discussions bitcoin is often described as deflationary.
In economics, deflation is a decrease in the general price level of goods and services. Result money wins in value.
Let's assume bitcoin replaces dollar, bitcoin wins in value, that is good right? Well if you own bitcoin, sure.
If we assume that all loses value over time, goods, services, humans (getting older, ill) from economic side.
As a result, all other economic factors are in disadvantage to currency in an economic cycle.
The farmers are forced to sell their fruits before they perish. Machine builders are forced to sell to cover the cost of debt. Workers are generally forced to offer their labor to cover their current life costs. You can not out it off.
On other side you just hold bitcoin, the result of mix (hard cap + rising demand + interest pressure) is increasing value. Or will we have no interest on loans in the bitcoins brave new world? (Brave New World, Aldous Huxley 1894-1963)
I ask you, why should we give the advantage of forever holding stability or increase of value to currency or in this case to bitcoin?
To be continued...
Congratulations @argumento! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit