Re:Are Bitcoins The Future?
by XorNot on Friday April 05, 2013 @06:40AM
(#5497591)
You actually have an incentive to collude and carefully manage the market, then crash it and buy all the money back and go back to hoarding it.
With sufficient deflation, you end up spending less on necessities (food) then the rate of increase in the value of your horde. Making you the permanent upper class, and making everyone else the permanent lower class. It's a return to feudalism.
With sufficient deflation, you end up spending less on necessities (food) then the rate of increase in the value of your horde. Making you the permanent upper class, and making everyone else the permanent lower class. It's a return to feudalism.