mister_monster's avatar
mister_monster 7 months ago
> As the market matures and price stabilizes the free ride shrinks. How does that work out? I thought we established that as economic output goes up so must the purchasing power of a supply capped currency? The only outcome in that case is downward pressure on economic production. It's cool to me that we can even attempt to experiment with a supply capped currency, this was impossible two decades ago, but that is not a problem you can hand waive away. The supply cap dooms bitcoin IMO, and it's not a dichotomy between hard cap and let Jerome Powell decide.
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npub16dsu...h6vy 7 months ago
Bitcoin will do fine 50 years from now when the world is in the midst of a self induced population epidemic and the idea of positive global economic growth has been completely abandoned. By the time the supply cap has been hit in 2140 the world will have experienced a near 50% collapse in population from peak.
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Hanshan hanshan@nostrplebs.com 7 months ago
the hard cap doesn't necessarily doom #Bitcoin as a network But it means that an inflationary L2 becomes an economic necessity. it's a good thing Jack Mallers has us covered at 12% 🙄
mister_monster's avatar mister_monster
> As the market matures and price stabilizes the free ride shrinks. How does that work out? I thought we established that as economic output goes up so must the purchasing power of a supply capped currency? The only outcome in that case is downward pressure on economic production. It's cool to me that we can even attempt to experiment with a supply capped currency, this was impossible two decades ago, but that is not a problem you can hand waive away. The supply cap dooms bitcoin IMO, and it's not a dichotomy between hard cap and let Jerome Powell decide.
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