> A currency needs to be inflationary or people hoard it instead of spending it
At some point people will spend it, it just won't be the artificially early spending that fiat forces us into.
At some point people will spend it, it just won't be the artificially early spending that fiat forces us into.
That would cause the aforementioned economic collapse not to happen at all...
In such scenario the smart person is not the one who postpones gratification by storing the marshmallow, but the one who eats it now because there is no future
It's really interesting, BTC moves the analysis from balance sheets to people's psyche.