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niltempus
niltempus@nostrplebs.com
npub1cecl...t7pp
easy peasy lemon squeezy
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niltempus 1 year ago
Trust the #government with #bitcoin they said image 🤣
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niltempus 1 year ago
“A stable price level and a high and stable level of employment do not require or permit the total quantity of money to be kept constant or to change at a constant rate. [...] The supply of money must possess considerable elasticity.” – F.A. Hayek: The Denationalisation of Money #elasticity #bitcoin #money
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niltempus 1 year ago
After the last #Satoshi is mined, what are the macroeconomic impacts of a slowly declining #BTC supply? The purchasing power is entirely dependent upon demand. How does the system respond to system shocks/crisis? On a purely #gold standard the supply and demand are relatively stable over time because of mining feedback, e.g. the period from 1789 to 1913 when #inflation was near zero. How do we achieve price stability in a #hyperbitcoin world?
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niltempus 1 year ago
In a layered money system, what prevents banks and governments from eventually holding all the #bitcoin while plebes live off scraps on #L3? Wealth and power has a tendancy to concentrate over time.