This is also my assumption. 🤔
Assumed everyone thought that. It might slow a bit, from 75%/year to 50%/year or something, but not normalize.
Discussion
I imagine at some point, it would find it’s true price. But that will take a LONG time. People love banks and not being responsible way too much
Well, that wouldn't matter, as we wouldn't have fiat, anymore.
Agreed. I mean it will take a long time to get to hyperbitcoinization.
Currency reform tends to happen at a press conference. The dollar crashes, the President gets in TV and says that a new era is unfolding...
Right. But to answer your original question, it would still be deflationary. Prices would continue to go down at a slower rate
Everyone agrees that they'd go down, but more like 5%/year or 50%/year?
Depends. Inflation is a vector. Some prices will fall quicker than others
Deflation is produced by technological efficiencies, bumper crops and motherlodes same as with fiat toilet paper funny money. They ride it to squeeze more as the efficiency improves.
But I thought Bitcoin has deflation built-in?
deflation is the product of the economy increasing in efficiency and activity
you can't make prices deflate except and only by ceasing to emit new monetary units
bitcoin deflates on a schedule, deflation in general is an economic factor that cannot be controlled by anyone, and anyone who tells you it can is lying to you
No. Until there is a subsidy it can even be considered inflationary. But since the total supply is capped, the 21m is priced in. People losing private keys that can't be retrieved is in a way reducing the amount, but it is insignificant. Satoshi coins are the biggest cut that big bag holders don't want liquidated.