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A comment on Bitcoin mining is being banned in countries across the globe. Parent comment

Re:Bitcoin mining is being banned in countries across the globe by verdverm on Monday January 10, 2022 @10:46AM (#29876555)
Right, so discretionary spending goes way down. I may be incentivized to work, but who can afford to employ me?
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Re:Bitcoin mining is being banned in countries across the globe by logicalmonster on Monday January 10, 2022 @10:48AM (#29876589)
"Humans still need to eat and stay warm and fulfill their daily needs in a deflationary environment."

EDIT: to add onto that answer, I'd say that just as there are still savers in an inflationary environment, there will still be consumers in a deflationary environment. Incentives matter, but are not absolute drivers.

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Re:Bitcoin mining is being banned in countries across the globe by verdverm on Monday January 10, 2022 @10:56AM (#29876732)
I'm not convinced this logic holds up. It is counter intuitive with economic theory and history
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Re:Bitcoin mining is being banned in countries across the globe by logicalmonster on Monday January 10, 2022 @11:01AM (#29876818)
> "It is counter intuitive with economic theory"

If you said "It is counter intuitive with Keynesian economic theory", I'd see your point a bit more. But different schools of thought like the Austrians view the importance of short-term consumption differently than what is a sort of textbook model of the world.

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