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If being a whole-coiner gives you social status, that's actually an argument against Bitcoin. 🤔

Exchange one group of cantillionaires for another.

In fiat world, when the upper class make a purchase their purchasing power doesn't decrease at all. The social position of the peasant craftsman doesn't improve at all by doing work for them.

In the future we may see Hodlers, even ones who are currently among the good guys, attempt to offer an inflationary token to latecoiners. The hodl ideology could lead to this. Never spend real Bitcoin, that's your generational wealth. Same worldview as the current elites.

This is why we don't just need Bitcoin, we need Christ

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Discussion

Laeserin 1y ago

Amen.

But I am also positing that Bitcoin deflation means you can spend it slowly, and maintain your purchasing power. You just need to spend it in line with the shrinking of the supply.

Pirate HODL 1y ago

Not such a bad incentive, if the loser is he who's appetite exceeds the growth around him.

Laeserin 1y ago

Bitcoin obviously works better than fiat, otherwise there would be no point to it.

Pirate HODL 1y ago

2. Plus, the value of those sats doesn't stop growing just because they've gone into lower class hands.

Laeserin 1y ago

That's true. That's a change.