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259 sats \ 1 reply \ @alt 12 Dec \ parent \ on: 25% of Americans Can Barely Read (_The Economist_) BooksAndArticles
Here's a counter-question as a response to that criticism: where do the people get the Bitcoin from, and how do they get so much of it that they can afford to live off the appreciation alone?
For most people their day-to-day expenses will exceed whatever value appreciation they can get from their stack, and so they will be forced to work in order to not run out of Bitcoin.
Another way to look is that if nobody is working because they think their Bitcoin appreciation will keep them fed, then the prices of everything else will go up due to high demand and lack of supply. Further, because everybody thinks their stack is enough to live off, the demand for Bitcoin will drop and the supply on the market will increase (because everyone is spending it).
Both these effects will work to lower the purchasing power of Bitcoin and hence encourage people to work again.
...also, piling on to this: the types of people who has a large enough stack to never worry about fiat expenses ever again (not that many, since there are always things to want -- houses, vacation etc -- and that opportunity cost of not stacking is huge) must have iron fucking balls to have held for this long, unwavering.
And then I'll chalk it up to them deserving it. Your ability to hold/stack/amass for long period is proportionate to your conviction, which is dependent on your knowledge and study. So, good on yahs.
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