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/biz/ - Business & Finance

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12259382 No.12259382 [Reply] [Original]

Since bitcoin supply is limited, everyone would horde/hodl bitcoin like crazy and be self reliant. No one would spend, pay interest, or lend out bitcoin. We’d all return to hunter-gatherers. I’m exaggerating but isn’t this the gist of it? At the very least the economy would slowy grind to a halt, right?

>> No.12259389

>>12259382
No shit.
Bitcoin to $1M though

>> No.12259391

Absolutely..... when backed buy real money. Gold and silver

>> No.12259414

Nigger what?

>> No.12259424

>>12259382
Bitcoin is AOL of blockchain.

>> No.12259429

>>12259382
BTC will be like gold. A store of value but not for actually buying things, holo chain will fill that role

>> No.12259430

>>12259382
bro your using far too many complicated words. can you just explain simply?

>> No.12259453

>>12259429
Did we abolish the gold standard because something similar happened under it?

>> No.12259568

>>12259382
Gold is also kinda limited supply (mining really slow).
Look at gold market cap. Halve it, ajd you'll get bitcoin adjusted market cap in a situation where some people will hoard it and some other will use it.

Don't count 21 million btc though as at least 6 are unretrievable.

>> No.12260098

>>12259382
>o
you can lend bitcoin with the expectation of getting more bitcoins in return, if people are hoarding hard than the purchasing power of bitcoin would go up and incite people to stop hoarding

>> No.12260123

>>12259453
the problem with the gold standard was that the supply was unpredictable and making the purchasing power of the gold fluctuate too much. The only similar issue with bitcoin is if Bitcoins wallet that were considered dead start moving again it can throw the value off.

>> No.12260897

In theory when crypto has massive adoption, the prices will not oscillate much and its speculative value will fall which will cause it to be used as payment method.
What the retards do not understand is that this kind of economy, we will not see it, perhaps our grandchildren will see it.