> A currency which naturally grows in value is self defeating.
An opinion, neither backed by any obvious nor posted arguments.
> Currencies, by their nature, are abstract constructs devoid of value.
My above remarks goes triple for this one. Bordering on the dogmatic as a matter of fact.
> If btc became the dominant currency
I don't think that'll ever happen.
First because Bitcoin isn't very practical as a currency - it's pretty obvious at this point -.
Second and much more importantly: Bitcoin is an should remain an escape hatch.
Every functioning human organization needs checks and balances to be functional.
For every power, there needs to be a counter-power so that said power can't be abused.
Until very recently, there was pretty much no counter power when it comes to the ability of governments to debase their currency (aka imposing a hidden tax on their citizenry).
Bitcoin is exactly this: it is a counter-power that finally allows folks to run with their wealth if a government starts to mismanage their currency (and historically they have always proven that given enough time, they will).
I would never wish for Bitcoin to become the dominant currency.
An opinion, neither backed by any obvious nor posted arguments.
> Currencies, by their nature, are abstract constructs devoid of value.
My above remarks goes triple for this one. Bordering on the dogmatic as a matter of fact.
> If btc became the dominant currency
I don't think that'll ever happen.
First because Bitcoin isn't very practical as a currency - it's pretty obvious at this point -.
Second and much more importantly: Bitcoin is an should remain an escape hatch.
Every functioning human organization needs checks and balances to be functional.
For every power, there needs to be a counter-power so that said power can't be abused.
Until very recently, there was pretty much no counter power when it comes to the ability of governments to debase their currency (aka imposing a hidden tax on their citizenry).
Bitcoin is exactly this: it is a counter-power that finally allows folks to run with their wealth if a government starts to mismanage their currency (and historically they have always proven that given enough time, they will).
I would never wish for Bitcoin to become the dominant currency.
It's perfect where it's at right now.