[HashThis]

Note that citizens can now pick individually and separately if they want to be Keynesian (USD) or Austrian (BTC/ETH/Gold).

1. This is illustrated by a 50 year old who paid off their $500k house. They sell, keep the cash for 23 months until they move across the country to buy a new house.

2. They could store their $500k in USD w/money printing and be a Keynesian. Money printing dilutes and they can buy less.

3. Another similar couple stores their $500k in BTC or cryptGOLD, as a non-money printing Austrian.

Imagine if each person in society is picking individually if they want to be an Austrian or Keynesian based on the currency they select. Costs of USD money printing will be paid by a smaller and smaller group of people as more and more move off of USD.

[Amezarak]

Both Bitcoin and gold have experienced devaluation. This illustration seems to be analogous to the physics spherical cow - there are other factors that determine the value of gold, BTC, and dollars besides supply.

For example, if the 50 year old bought all their Bitcoin in January 2018, and sold them to buy their new house in January 2020, they would have been very, very disappointed.

[analog31]

Is Austria subsidizing the electricity for bitcoin mining?