why would it be any different on the future?
if the value proposition is "your Bitcoin will ONLY increase in buying power"
you have huge incentive to spend whatever else you have.
*even more so* at a future higher valuation.
no?
Discussion
Because you inch closer and closer to where you yourself are simply running out of time to enjoy with your very own senses anything your BTC can buy.
And thus - as I see it - the sensorical value someone gets by spending some of their BTC will at some point in time turn almost every hodler into a net seller.
Some people are lucky enough to have enough cash flow to enable a satisfying lifestyle _as well as_ buy/hodl BTC without _ever_ selling any. But I'm pretty sure these people make up a small fraction of all hodlers. All the others will - IMO - turn from buyers into sellers at some point in time.
sounds like trickle down economics.
maybe...
its one theory anyway.
It's a simplified model that assumes a lot. It assumes people know when they're going to die. This is of course not true. It assumes people won't take their keys with them.
But it assumes higher time preference than some people have. Maybe it's your desire to build a nice life for yourself. That's definitely most people. I personally am building a family, and that family has an open ended lifespan if I do it right. What resources I accrue are for mostly after I'm gone. I don't intend to blow it all after retirement on a sports car and a boat.
i was being generous
trying to turn over a new leaf 😅