Replying to Avatar bitcoinlimit

Here’s what I’ve been thinkg recently. If ai wipes out a big chunk of jobs by making everything far more efficient… is that inflationary or deflationary? I’m betting on deflation.

If 1 in 5 people are out of work, what happens to housing prices? How much is a car worth if commuting gets cut in half?

Vinod Khosla predicts that in 20 yrs, $10k will buy more than $50k does today and his track record on this stuff is almost scary. With over $35T national debt, current interest rates and massive money printing, I almost find this prediction an insulting joke. But again, his track record scares me.

So if ai makes the future massively deflationary, the real question is what happens to capitalism when humanity finally meets with true abundance again after several centuries?
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nomadshiba⚡ 4mo ago

also dont forget in deflation would also make you work harder early in your life.

because more you wait, less you can earn.

there's a difference between not being hungry and being more richer or wealthier than others which works with ratios.

and the wealth of people themselves effects prices of many things.

so there's always competition between ratios.

and there's no way you can have deflation with fiat for too long. maybe with bitcoin.

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nomadshiba⚡ 4mo ago

you still need power as well. create families and clans etc are the best way, because longer you preserve your wealth, more powerful you become. so its best you preserve your wealth for more than one lifetime with a family.

ratio is the king.