41 sats \ 3 replies \ @siggy47 10 May \ on: "Improving technology should make things cheaper over time” 🧐 bitcoin_beginners
This is a great book. His discussion about technological advances leading to deflation really opened my eyes. Even more pertinent now as his predictions about AI come true. Good skewering of the fiat system's desperate attempts to fight this momentum.
I’ve started it on kindle but I’m gonna buy a copy too.
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I don't think so. Technological deflation enables the government to print more money without the people noticing price increases.
So for example, if computer companies figure out ways to build computers 10% cheaper each year, even if money inflation is 8%, the price of the computers will slowly decline 2% a year, so consumers are happy :)