RE: Crypto Competing On Technology Not On Monetary Policy.....YET!

avatar

You are viewing a single comment's thread:

I treat Bitcoin as a store of wealth but I am perfectly fine taking out my initial invests plus some profits when it has 10x or even 20x. Why? I do believe BTC will do well but I prefer to have a free trade and it will also mean I have some spare money to invest in some of the alt-coins. Of course the alt-coins won't be a marriage. It will be for a trade.

There are just too many problems with BTC for it to be considered the actual currency used globally because it will stifle the economy and promote people into saving. Also with some of the banks giving predictions of 400k BTC by the end of the year, I fully expect it to be a good store of wealth.

Posted Using LeoFinance Beta



0
0
0.000
3 comments
avatar

Nothing wrong with taking your chips off the table and playing with the houses money/earnings. I have yet to do that but perhaps one day I will, probably with altcoins though, not BTC, not keen to risk my position, that's my 10-year stack by 2025 I want to have more BTC not less

I don't believe that people are that psychotic that they'll save against their own self-interest, If you have bTC and want something else, like a home, holiday, car, whatever it is you're going to spend. I think we're just brainwashed into this we MUST consume, BTC is saying consume when you've thought about if it's worth it, not consume at all costs.

I don't see how that stifles the economy, all it does is reprice goods and services, the demand would be the same. You're not going to stop eating, traveling and living life for BTC's sake, that's just silly

Posted Using LeoFinance Beta

0
0
0.000
avatar

What I mean was there is some arguments that everything would be priced in BTC. So if everything is priced in BTC and there is a limited supply of BTC. So the supply of new BTC will continue to drop while the population will probably increase/stay the same. So goods will continue to be repriced down so those who can save will see a big difference compared to those who don't. So would someone really want to go on a holiday when you can wait 4 years and spend half the cost?

Posted Using LeoFinance Beta

0
0
0.000
avatar

Yes you would be correct but since theirs a finite amount it means velocity goes up which means it takes less BTC to generate GDP. So 1 BTC can be traded hands 10 times a year instead of one! It’s not about the unit of account but how many times it moves and generates more productivity

I just feel eveyeones will eventually get to a point where they have enough BTC or the annual return is so small like sub 10% that you like Fuckit I need a holiday or whatever

If everything is priced in BTC it’s not like you can’t work and earn more BTC! I know it’s a weird concept because we so locked into fiat and it’s the opposite it took me a while to think about it too

But I think that human time preference Trumps any store of value! If you want a Tesla today and you can afford it why wait? We all going to die someday

And what good is money never spent? This savings glut I think is a fallacy

Posted Using LeoFinance Beta

0
0
0.000