People always say ‘Buy Bitcoin.’ Why don’t they ever say ‘Pay with Bitcoin’?
Discussion
That must be the logical consequence
because a permanently deflationary currency incentivizes hodling and discourages spending
it forces you to focus on when and if it is the right time to exchange for a good or service. clearly the answer is not "never" because people prefer to not starve to death and to enjoy their lives and leisure time.
deferred consumption; but not indefinitely.
you can encourage people to evaluate if a purchase or investment is timed correctly
without making the money permanently as-deflationary-as-possible
the whole "but people will still buy the bare minimum of stuff to not die" isn't particularly helpful or convincing of anything
it's not just bare minimums to survive, it's anything they deem to be worth more than the sats adjusted for time preference. bare minimums are the easy choice because the preference to live rather than die is the easiest one to calculate at an immediate, intuitive level and is basically the same for everyone. but every other trade is also fair game and will look very different for every person.
what are you hinting at would be a better alternative?
I'm saying a hard cap is a stupid design choice.
i'm personally an enormous fan of the fixed supply, but it's not one of the topics i'm a jihadist on. i could maybe imagine being argued into seeing the virtue of a continually issued supply, in theory, as long as it is a known and unchangeable rate.
that said though, not in Bitcoin. no way
Just use fiat.
Because it’s still hard to find merchants who will take it?
I did to a local company this summer, and they added Bitcoin payment including Lightning support about two months later
Store of value vs Store of value over time.
These are fundamentally different things.