Re:Bitcoin breaks above $20k
by a1369209993 on Wednesday December 16, 2020 @02:18PM
(#25447127)
> Meaning you buy a computer, assuming its value will drop (due to the inflationary nature).
Exactly. Similarly, if you buy a dollar, its value will drop (though not as quickly).
OTOH, bitcoins are the opposite of both dollars and computers: bitcoins are deflationary, and rise in value. This is a terrible property for a currency, since it encourages speculation and hording in preference to circulation.
Exactly. Similarly, if you buy a dollar, its value will drop (though not as quickly).
OTOH, bitcoins are the opposite of both dollars and computers: bitcoins are deflationary, and rise in value. This is a terrible property for a currency, since it encourages speculation and hording in preference to circulation.