[throw101010]

Nobody prevents you from spending and replacing bitcoins, besides maybe the governments that insist on taxing smaller transactions as if it wasn't a currency.

You should ask them why they've generated about 58 million millionaires and 2,700 billionaires worldwide. That's some actual "hoarding" you should be concerned about, instead of concern trolling about Bitcoin.

[wqaatwt]

> Nobody prevents you from spending..bitcoins

Well besides common sense.

If you own a deflationary asset/currency which is guaranteed to appreciate as long as the economy is growing (well it wouldn’t if btc became a global currency but that’s another matter) there is no reason for you to invest into anything unless it offers a disproportionately high return (or buy goods/services now if you can delay buying them)

It would just reduce risk tolerance for investors and increase the real cost of borrowing significantly. That’s how deflationary currencies work (we know that based on several hundreds years worth of empirical evidence).

[satyrun]

Not to mention you can't have a robust credit market built on top of a deflationary currency.

Imagine you take out a 30 year mortgage in 2025 with 12 periodic payments of .01 BTC a year.

Imagine offering a 10 year bond that will make quarterly payments of .01 BTC. What is the price of this bond? It is just a meaningless question practically.

[throw101010]

Did you miss the word "replace" that you have removed in your quote?

None of what you said applies to what I have suggested.

[kragen]

It sounds like you aren't familiar with the anti-deflation argument. I've summarized it in https://news.ycombinator.com/item?id=44471609, which you will probably want to read.