Thesis is afaiu, since Bitcoin is a nonproductive asset, if it continues to appreciate in value, it takes consumption power away from non holders and passes it to early adopters.
Question: Can't the same be argued for Gold?
pull down to refresh
172 sats \ 0 replies \ @denlillaapan 7 Jan
Yes, I covered the paper when it came out (and wrote a TDE piece about it)--#732289)
And no, gold has different macroeconomic properties from bitcoin (#749912)
reply
0 sats \ 0 replies \ @000w2 7 Jan
The same can be argued for literally any asset you don't like.
reply
0 sats \ 0 replies \ @TheBTCManual 7 Jan
Oh no! People who are prudent, acted responsibility, saved the wealth they earned get rewarded for their decision, we can't be having that now can we?
Rather give it to those who can get access to preferential credit and are willing to leverage themselves to the tits
reply
0 sats \ 0 replies \ @bitcoingraffiti 7 Jan
Conclusion: Bitcoin seems to be working really well.
reply
0 sats \ 0 replies \ @Shugard 7 Jan
Keep complaining, I keep stacking
reply