Could someone help me settle this question about how #Bitcoin "avoid" deflation 🤔
Apparently, I found out that inflation is necessary at a controlled degree
And due to the 21M limit of Bitcoin it would certainly cause deflation
I learned that through the following video:
Inflation is not necessarily needed in an economic system. With #Bitcoin, the limited supply of 21 million coins provides a different approach. The scarcity and predictable issuance of Bitcoin make it a deflationary asset. This encourages responsible financial behavior and long-term value preservation.
As demand for Bitcoin increases, its value tends to rise over time.
I appreciate your answer, but I don't find it enough convincing
Before I started using #nostr and seeing people zapping as a regular basics, I had seen many people invested in Bitcoin in order to make themselves wealthier in short time
We all know the result of that short-term hype and its consequences
I understand the advantages and the benefits of Bitcoin, but I realized it's dollar losing its value not Bitcoin's value increases by the time and most people just pay attention to the later phrase 😞
Please do not consider this is a criticism against Bitcoin and/or #nostr , it's just I couldn't find a satisfied answer about whether Bitcoin would benefit humanity or not
Take a look at this video as well.
https://nostr.build/av/8cb5c7e8dbcd0f2b8622fa897c8e40af165e8a1be1a6419728b567e84198446a.mp4
I have watched it two times and still don't get what you want to convey through this video
Could you please specify it more clearly? I get the video sating that in order to normalize Bitcoin we need awareness education and people need to see Bitcoin as money
But the irony is Bitcoin is completely different from money due to its limit
What I mean here is I think everything should be balanced and while human keeps making more stuff, in other words it's limitless, but Bitcoin has it own limit and that will make Bitcoin's value increases by the time if we use it as our exchange mechanism
So that's why people would want to keep Bitcoin instead of spend it
Could you help me out nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m ? I discovered #nostr through your Twitter bio and decided to join nostr due to its censorship-resistant characteristics
But immediately I found that this is just a place where people discussing and exchanging Bitcoin, I was looking for a better solution to traditional social network (centralized)
At this rate, I think I'd prefer Mastodon and would devote my time and effort to promote it
