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by imtringued
1827 days ago
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We basically have low inflation and a savings craze as a driver of a housing bubble in 2008 as people were looking for perfect, risk free bonds (no such thing can exist outside government bonds and even those are just best effort). The people behind Bitcoin were basically thinking: Ok, our banking system failed because of low inflation and a savings craze. Let's make both of those worse so that it will never become possible to run an economy on top of Bitcoin. Fiat banking failed because an aging population has a strong saving preference to the point that it chokes out businesses. The idea behind saving is that you release production capacity in the economy so it can be used on something else. The population isn't going to stop aging. The problem is going to get worse over time. There won't be a something else unless the government artificially uses the savings on that something else. |
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