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0 sats \ 2 replies \ @justin_shocknet 3h \ parent \ on: Is Bitcoin Going Cheech And Chong A Bad Sign econ
That's the velocity component, spending exceeding taxation is a given since it can't run in reverse or there'd be no dollars.
Since there has to be new dollars, Bitcoin gives people a place to park them that doesn't moon shit we need like houses...
The sellers of that Bitcoin aren't getting those dollars from their own debt and therefore increasing the number of dollars (commercial banks create dollars too on consumer debt, not just the Fed on national debt)
Ok, I think I get you. We are saying the same thing from the other side.
The existence of Bitcoin helps provide an alternative sink for value that is not other assets like Real Estate and Equity, thus helping keep prices from pushing up.
Yes, and I hope that our civilization can flourish when we stop inflating the value of real estate.
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No more zombie stocks tying up capital, currency wars between countries, Cantillon corruption... Going to be amazing
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