I agree but how do you know? The greenbacks disaster caused the great depression.
nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpqyj69jq9f977y2f7vl96m6stf3rjyf3hym8ekf3g4senlqamz8l3q43a5jf nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpqx0r5gflnk2mn6h3c70nvnywpy2j46gzqwg6k7uw6fxswyz0md9qq0kp50y nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpqwl89d7yazg500lehg08p45dj2jzhhyqg2erj067458e3wd30djnsfrzymt nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpq4hlzw4sywt23drreaqs8ruf00dsrnnv5hfnyu49g2hpheq836umsvajehg nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpql4eg4c2rcumcgk98x84zgjlwc9pjyycr08pw3yk9pc5gtkh6rhxs9fx6gf it definitely is. he's constantly bitching about this non-issue of btc deflation due to lost keys, as if it's a real problem, and it's not.
Discussion
nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpqyj69jq9f977y2f7vl96m6stf3rjyf3hym8ekf3g4senlqamz8l3q43a5jf nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpqx0r5gflnk2mn6h3c70nvnywpy2j46gzqwg6k7uw6fxswyz0md9qq0kp50y nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpqwl89d7yazg500lehg08p45dj2jzhhyqg2erj067458e3wd30djnsfrzymt nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpq4hlzw4sywt23drreaqs8ruf00dsrnnv5hfnyu49g2hpheq836umsvajehg nostr:nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpql4eg4c2rcumcgk98x84zgjlwc9pjyycr08pw3yk9pc5gtkh6rhxs9fx6gf that's the point - it's not issued by fiat like civil war greenbacks were
how many times you can divide a number? there's no limit. it's not like you have to physically issue a half-penny coin or, or physically split some object to solve this.
READ WHAT I'M SAYING YOU INBRED!
REDUCING MONEY SUPPLIES HAVE KILLED ECONOMIES EVERY TIME!
I DON'T CARE ABOUT HALF PENNIES THAT WASN'T THE PROBLEM.
The Gold Standard was generally prosperous. Civilisations that adhered to it faired far better than civilisations that didn't. Civilisations that drifted away from it would see things get worse. So I am led to believe that a Bitcoin Standard, with a fixed monetary supply, would carry forward many of the same benefits that the Gold Standard had done in the past.
However, reverting BACK to the gold standard has been very difficult, every. single. time.
Would coins being taken out of circulation, reducing the money supply, put us in the same deflationary spiral scenarios?
I don't believe so. The pain felt in the Long Depression of the 1870s and of the Great Depression of the 1930s were in my opinion the result of government austerity to pay back debt, stifling demand. Natural reductions in the money supply (eg lost coins) don't harm active economic players like taxation does (only harms those whose coins have been lost).