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Bitcoin is problematic
Being deflationary in nature, why would anyone spend it? People ask this question while also playing hot potato with their fiat money to get it out of their hands as soon as possible before it depreciates into nothingness. People have only known an inflationary monetary system up until this point, and they have Stockholm syndrome. Holding your wealth in Bitcoin incentivizes you to save. So, why spend Bitcoin if it only goes up? Well, to ask the tradfi people a similar question, why liquidate your Apple stock or index funds if they’ll only go up over time? Well, life has expenses, especially when you’re retired. You’d want to liquidate some of your stocks, funds, or Bitcoin to either pay for those expenses, or for the potential to invest in an even greater asset. But so far, I haven’t found an asset more decentralized, finite, portable and secure than Bitcoin. submitted by /u/FanOfSilence [link] [comments]
Being deflationary in nature, why would anyone spend it? People ask this question while also playing hot potato with their fiat money to get it out of their hands as soon as possible before it depreciates into nothingness.
People have only known an inflationary monetary system up until this point, and they have Stockholm syndrome. Holding your wealth in Bitcoin incentivizes you to save.
So, why spend Bitcoin if it only goes up? Well, to ask the tradfi people a similar question, why liquidate your Apple stock or index funds if they’ll only go up over time? Well, life has expenses, especially when you’re retired. You’d want to liquidate some of your stocks, funds, or Bitcoin to either pay for those expenses, or for the potential to invest in an even greater asset. But so far, I haven’t found an asset more decentralized, finite, portable and secure than Bitcoin.
[link] [comments]
