Which means happiness is only when we have fiat as a baseline to compare it to ,... In Bitcoin only world , there is only scarcity :-) ..Isn't it ?
Discussion
The growing prosperity of my fellow man, and of my civilization, makes me happy. Simple. No fiat comparisons needed.
How does scarcity increase prosperity ? Bbitcoin is most centralized wealth !
Correction - Bitcoin is most concentrated form of wealth ..
Scarcity of monetary units leads to abundance of goods and services, as people are incentivized to have a long-term, wealth-building mindset.
Looks like I am missing something here ! If I know that the things I am going to manufacturer or produce ..are going to get me lesser Bitcoin tomorrow ( deflation) , then why would I invest my Bitcoin into any manufacturing? Or agriculture??
And if that is true ? How can there be abundance of things ?
Isn't Bitcoin standard ever deflationary ??
Deflation rewards saving, and thus, long-term planning. Compare the cathedrals built during the gold standard era to the uninspired buildings of the fiat era.
If you think inflation leads to prosperity, try living in Venezuela or Weimar Germany or any other historic instance of hyperinflation. It is directly opposed to prosperity for all but those with access to the money printer, per the cantillon effect.
Totally agree .. hyperinflation is bad .. but deflation is super bad ..
The question is how many people ( in % terms ) could live in those inspiring buildings .. not even 0.1 percent .. plebs made those wonderful places for the living of kings ..
Moderns buildings are sure not as inspiring as the Taj Mahal ..but the goal here is to provide at least low cost good housing to everyone .. sure we are still not there ..but we are far along the direction ..
Btw ..are you saying ..we were better off on Gold standard ! .. I don't know how old are you .. but I lived under gold standard :-) .. those were horrible days to put it mildly ..
Human life had never been better !