Pleb34 on Nostr: How do we have something be the unit of account when it "artificially" has its supply ...
How do we have something be the unit of account when it "artificially" has its supply cut in half every 4 yrs? Does this make it a better money tbat's tied to reality as we all say it does? Our "reality" will be cut in half every 4 year. Just cause the monitary policy isnt controlled by humans does that make it better? Id absolutely say it does but that doesn't mean I think bitcoin's policy is the best.
What does the average citizen do when they know halvening is coming? They stack as hard as possible. It's a huge incentive to hoard and not to spend.
I bet once bitcoin becomes reserve currency we fork and completely change the issuance rate to something less dramatic. 😬
I also think an incredibly hard money creates demand for a much less hard, easier money. This is something the Keynesians say that the Austrians don't seem to acknowledge from what I've heard. And I think this is how currencies are supposed to compete, an alpha and beta, just with supplies that are not in the control of humans.
What does the average citizen do when they know halvening is coming? They stack as hard as possible. It's a huge incentive to hoard and not to spend.
I bet once bitcoin becomes reserve currency we fork and completely change the issuance rate to something less dramatic. 😬
I also think an incredibly hard money creates demand for a much less hard, easier money. This is something the Keynesians say that the Austrians don't seem to acknowledge from what I've heard. And I think this is how currencies are supposed to compete, an alpha and beta, just with supplies that are not in the control of humans.