Re:Cambridge Bitcoin Electricity Consumption Index
by chii on Wednesday February 10, 2021 @07:02PM
(#26096516)
it'd be a very long journey. the deflationary nature of btc means that people generally don't want to pay in btc, since it would be expected to become more valuable in the future.
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Re:Cambridge Bitcoin Electricity Consumption Index
by stale2002 on Wednesday February 10, 2021 @09:19PM
(#26097496)
That doesn't make any sense.
My amazon stock that I hold is going up in value, and is therefore "deflationary".
But it would be silly to say that I would never have a reason to sell those stocks.
I sell things, whether they are dollars or stock or crypto, because I want to buy something.
Re:Cambridge Bitcoin Electricity Consumption Index
by chii on Thursday February 11, 2021 @01:21AM
(#26098812)
if you had 1 amazon share (worth $3286 right now), and $3286 in USD cash, and you wish to buy a $3286 computer, would you rather sell the share to obtain the cash, or transact using your existing USD?
Re:Cambridge Bitcoin Electricity Consumption Index
by stale2002 on Thursday February 11, 2021 @04:35AM
(#26099767)
I would have no preference.
It's the same thing.
The only difference maybe, is regarding friction. IE, maybe it is a bit more difficult to immediately sell the Amazon stock at a store.
But transaction friction is different than the deflation argument.