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JoelDalais

And then there's inflationay vs deflationary..

Question - 8 years ago, would you have preferred to have £10,000 worth of Bitcoin, or £10,000, and to have whichever you chose still with you today?

As to the obvious "but you'll never spend deflationary money and you'll just hold it for ever and ever and starve yourself to death and live in a hole in the ground whole hugging your deflationary money to your chest, but you'll be rich! but starving, in a hole, and probably dead soon."

my point is - its a lie, its a lie told to people the world over so that everyone gobbles up the inflationary money time after time, burning your precious time up trying to get more because inflationary money burns away over time.…

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JoelDalais

And then there's inflationay vs deflationary..

Question - 8 years ago, would you have preferred to have £10,000 worth of Bitcoin, or £10,000, and to have whichever you chose still with you today?

As to the obvious "but you'll never spend deflationary money and you'll just hold it for ever and ever and starve yourself to death and live in a hole in the ground whole hugging your deflationary money to your chest, but you'll be rich! but starving, in a hole, and probably dead soon."

my point is - its a lie, its a lie told to people the world over so that everyone gobbles up the inflationary money time after time, burning your precious time up trying to get more because inflationary money burns away over time.

Reality is, if you do convert your spare money to Bitcoin (BCH, old BTC is broken remember) then you will spend it when you want something (i have done so over the last 6+ years). Or you'll spend the bad money (fiat) and save the good (bch), because that's what rich people do (or those wanting to get rich).

spend bad money, save good money (works for most things in life, replace "money" with whatever you want when you have 2 similar things and you're unsure what to keep)

inflationary money robs everyone, ALL the time, its like a tax on your life, even when you're sleeping you're losing money :)

sucks doesn't it?

doesn't happen to me, over the long term as i sleep i gain wealth, eventually you start to base everything in Bitcoin, not GBP (or whatever denomination you used to), and it becomes 'interesting'

change how you view life and life will change

6 months from JoelDalais

I think this will be plausible when people start thinking about currency in terms of Cryptocurrency, but right now, to most people, Crypto is an investment opportunity to gain a higher Fiat value (See, people thinking about currency in terms of Fiat)

Then, what about the high volatility of Crypto? (Sal2015 and I discussed this some weeks back) so long as the price of Crypto continues to jump so high and low within a short period of time, acceptability and usability will continue to struggle.

This volatility also discourages the usage as legal tender both from a financial viewpoint. For instance, if I use 0.005 BCH to buy a loaf of bread today at 1 BCH to be 1,000 GBP and tomorrow, 1 BCH jumps to 2,000 GBP. Wouldn't I have been better off using GBP to buy that bread? I would have spent 5 GBP today and tomorrow to buy the loaf instead of the feeling that I had used 10 GBP to buy the bread as the price of BCH increased by 200%

6 months from Toluth
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