Replying to Avatar ( -_-)

You sound like a Keynesian. I'll save my money if I want to, and spend it when I need to. The free market "economy" is an abstraction that emerges from individuals making decisionns that are best *for themselfves*. Not listening to others who presume to know their circumstances better than they do.
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Enki 2y ago

I think you misunderstand a little bit. This comment isn't to disincentivize saving. There's nothing wrong with saving, in fact bitcoin is great to save due its long term appreciation vs a keynesian method disincentivizing saving via inflation.

This is specifically a comment towards hoarding. We (as Bitcoiners) won't hodl a parallel economy into existence. There has to be some signal to merchants that people actually want to use bitcoin as a medium of exchange instead of fiat.

End of the day people will do what they want but for myself Bitcoin has the most value as a money that cant be fucked with. If people dont use it as money and only treat it as a speculative asset then IMO we will never reach a "hyper bitcoinized economy" that I hear a lot of maxi types sqwaking about.

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Enki 2y ago

I'm by no means an economist and there is context missing from other parts of the book im re-reading Mostly just thinking out loud here.

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( -_-) 2y ago

I don't see a distinction between saving and hording, other than hording sounds bad. People accumulating bitcoin increases it's value relative to everything else. It sends a signal to people who don't yet understand, that this thing is important and valuable and they should pay attention.

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( -_-) 2y ago

Vijay Boyapati, has a good framework for how think about bitcoins's monetization path

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Enki 2y ago

Ah I had to look him up. Thats the bullish case for bitcoin guy correct? Ive haven't read that.

I guess I can understand that perspective a bit. Up to a point, I can see how accumulation can be a signal to others and Ill admit there is a lot of subjectivity in the term horde. Ill have to think on it more.