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You said something retarded and I explained why you are retarded lmao.

As for a deflationary currency being the solution to technology replacing jobs, that sounds extremely idealistic and unrealistic. Deflationary currencies concentrate wealth at the top even more than inflationary ones do, it's simple reasoning.

If sitting wealth increases in size exponentially, the people with the highest savings to income ratio (aka the people with the greatest income) will end up in possession of the vast majority of the currency in existence.

Generational wealth will grow exponentially for those at the very top, while the elimination of most jobs will mean that it will be harder for those at the bottom to work their way up.

The only way I can see such a system working is if everyone with wealth was willing to give charity and patronage to the masses in exchange for little to nothing of material value. Such a system is completely contrary to everything we can observe about human behavior.

やトナ 2y ago

I guess first, it should be clarified that bitcoin is disinflationary, not deflationary. Meaning, the supply does inflate, but every four years that rate is cut in half.

Second, the wealth concentration with these types of currencies throughout history occurred due to central control of those currencies. Those in power hoarded gold, and issued “gold backed” currencies. Since the wealthy controlled the actually money supply, the wealth gap grew.

But even if you look at income inequality from the era when the dollar was backed by gold, compared to when we stopped backing with gold, the gap widened tremendously.

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