Replying to Avatar niltempus

After the last #Satoshi is mined, what are the macroeconomic impacts of a slowly declining #BTC supply? The purchasing power is entirely dependent upon demand. How does the system respond to system shocks/crisis? On a purely #gold standard the supply and demand are relatively stable over time because of mining feedback, e.g. the period from 1789 to 1913 when #inflation was near zero. How do we achieve price stability in a #hyperbitcoin world?
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Feels Guy 1y ago

Price stability is theft.

The world is deflationary. There will never be price stability on a btc standard bc price stability requires someone inflate the currency to steal difference between productivity improving tech and the consumer.

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niltempus 1y ago

Fiat inflation is theft, no doubt. What is the macro relationship between productivity, infinite deflation, and demand? What are the incentives in a world where everything is essentially free? Considering what history teaches us about human nature, what are the societal impacts? Heirachy is essential to nature. Chasing utopia has never worked out well.

Not against Bitcoin, there are many advantages over Gold, but the world was quite prosperous in a zero inflation price stable market.