Adam on Nostr: I may have missed something in my readings, but an economy on the ₿ standard would ...
I may have missed something in my readings, but an economy on the ₿ standard would be deflationary, would it not? I can certainly foresee strains during a transition period (ie the ‘short term’). For example, housing, healthcare, and education would still be too expensive for many and their taking on debt denominated in ₿ would be even challenging to pay back.
In the long run, for those able to incrementally save, their purchasing power grows, but how does that impact the high cost of services in those fields- becoming a doctor, speculative investments in medical technologies and high tech? Will those begin to resemble the budding ₿ and Nostr ecosystem, where the pursuits are out of passion and supported by a mix of generous benefactors and revenue? Will economies have enough service providers under such a model to meet demand?
In the long run, for those able to incrementally save, their purchasing power grows, but how does that impact the high cost of services in those fields- becoming a doctor, speculative investments in medical technologies and high tech? Will those begin to resemble the budding ₿ and Nostr ecosystem, where the pursuits are out of passion and supported by a mix of generous benefactors and revenue? Will economies have enough service providers under such a model to meet demand?