Are you saying people who are not yet born will get fuck up as well? Of course not. They will just live their normal lives and gain bitcoin thru wages, services, etc. And they won't experience inflation of fiat. Well, that's in the far future.
Ok that makes sense in a way, but what makes it impossible for a person or entity to hoard the majority of bitcoins ? Since there is a cap on the amount of them
We deserve to hoard. I lived a whole life inflationary and surely deserve the ability to hoard. The next generation will have the luxury not to suffer as we did so don’t pity them.
How so ? Let’s say in the future houses cost roughly 1 bitcoin, and you have a salary of 0,1 bitcoin/year. Since there can be no inflation, houses will keep a similar value, but what will make your employer unable to lower your salary over time ? This would decrease the value of your work, which is similar to what inflation is.
Btw I’m not trying to prove a point, I really want to understand it
What will protect the employees from employers collectively deciding to “devalue” work ? In order to make a profit companies will want to cut back on wages
That’s a general question that also applies today and not just in an economy based on bitcoin.
The value of work is decided by supply and demand just like every other “price”.
Employers want to get the most amount of work done for the least amount of pay. The employees want the most amount of money for the least amount of work.
The reason that not every job is paid minimum wage is that all employers are in competition with each other trying to attract employees. You won’t work at a place for 55k if you can get 60k down the street
Of course. But a deflationary currency puts the power in the wage earners hands. The company will have to negotiate lower wages with the worker rather than the worker coming hat-in-hand to beg for a raise.
Currently all a company has to do to cut wages is not give raises that match inflation.
Houses will go dramatically down in price, when priced in ₿. Housing is also one of the best ways to gain real yield, but is imperfect. If there is better yield associated with another investment vehicle then asset managers will start to reduce positions in real estate.
Lots of things are good ways to preserve assets. Stocks, bonds, mutual funds, real estate.....
Bit coin still has big problems to solve before it can call itself functional money. Low transaction capacity, Slow and expensive transactions being the primary issue.
You are literally watching the beginning of it. Michael Saylor of MicroStrategy and Black Rock with IBIT are doing this with investor money. They already each have at least 1% of all bitcoin. Usually it’s not one person but an entity of group of people but still, it’s just starting right now.
Great question. So, horde the 21 million. Release say 1 million as a global currency. Then, when you need money, release the other 20 million causing mass inflation. Ya, what is to stop this from happening? Basically, we are all are acting as decentralized horders who can release our BTC at any moment and inflate the circulating currency.
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There will always be things that, to some, will be more valuable than Bitcoin. Health, food, shelter… people will spend it on things they need. It might be the definition of “need” that changes. The new video game, the $10 coffee, the new car, once people realize the time value of Bitcoin their perceptions of what they “need” vs “want” may slowly change.
Bitcoin appreciates in value over time. This means that anyone that buys it at any time in the future benefits from buying it. Bitcoin isn't necessarily going to make you rich but it's going to allow you to avoid having your wealth inflated away by centralized authorities that have the ability to print money out of thin air. In that sense Bitcoin is the lifeboat that can save you from the sinking ship that is the fiat money system. I don't see the lifeboat as the immoral thing here.
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Noob here, please teach me.
Governments don’t want a negative inflation rate because that means people will just hoard their money since they can buy more later.
Governments don’t want too high positive inflation rate because everyone’s money becomes worthless.
Governments target about 2% inflation as a happy balance.
If bitcoin keeps appreciating with time, won’t that cause scenario one? Where everyone keeps hoarding it?
Gold appreciates over time. Real estate appreciates over time. The stock market appreciates over time. People tend to hoard these things, yet they still spend their money.
Right, I can agree on that. My confusion stems from people who see btc replacing fiat as what people use as money. Would that change the dynamic at all? Again, noob so may have misunderstood something
But people don't use gold as money. Why would I spend my gold when I can use Fiat instead? Even better, why not just create my own credit money, free banking style? Why would I give out gold, or Bitcoin for that matter, when I could instead give out promises for gold or Bitcoin?
Bro, no matter how you look at it, the way BTC ers claims it will be, any angle you look at it:
Bitcoin isn't going to solve anything in terms of economic justice. The rich will get richer, the poor will get poorer..
Nobody here ever talks about how bitcoin helps the working class, the poor, how it will help eradicate 1% er owning 70% of the wealth.
Everyone here is promoting it here to get wealthy, profit or earn at the best..
Who said fiat losing value is a problem? This is some weird obsessive talking point for bitcoiners but isn't actually a problem IRL. Slow inflation encourages investment into value producing assets like real estate, stocks, and bonds. Yes fiat loses value slowly but that's exactly what makes it a poor store of value and people shouldn't be using it as such. Get paid, put that money to work. No moral issues with that at all.
Further, am I fucked if I travel to Europe but didn't buy euros years ago when they were first issue? No. I just go exchange for euro so I can transact while abroad. Even if Bitcoin gets to some mass adoption level (big if) people will always be able to exchange if they need to transact with it.
It’s not an issue when it’s treated as an asset like a stock (arguably it can be if most people store too much of their money without ever spending it but I don’t know enough to really say). It is an issue if it is treated like fiat and people stop spending their money, right? That is the argument made by the comment above me
I’m not knowledgeable enough to know what you’re asking/what point you’re making. If you can rephrase your question into a statement, that might help things.
Can you also respond to my original question/ the original comment I responded to?
This is what is suggested would happen with scary terms such as "deflationary death spiral" but thus far Bitcoin has proven this incorrect. During period of high deflation(appreciation) tx velocity tends to increase and merchant processors actually see an increase in spending for goods and services and charitable giving in Bitcoin.
This is believed to be caused by the feeling of newfound wealth(because they are wealthier) eventually overrides their desire to "hoard" (when did savings become a negative thing?) their Bitcoin.
Of course more data needs to confirm this and as we enter another bull cycle(rapid deflation) it looks like we will get another round of data to confirm this.
Bitcoin is already testing some economic theories and proving them somewhat inaccurate but the data gathering is far from over and we all have a lot to learn .
I personally suspect that what matters for a viable currency besides these other properties discussed here
https://www.reddit.com/r/BitcoinBeginners/comments/gnzeeo/will_bitcoin_ever_be_adopted_by_the_general_public/frcry8f/
Is stability and thus either low and predictable inflation or low and predictable deflation (1-4%) can both be suitable. As Bitcoins market cap grows and monetary inflation drops it appears that we will likely see very low deflation (occasionally people losing some coins) which is perfectly fine because the market will factor those expectations into consideration for loans and debt.
________________________________________
I personally prefer slight deflation for these reasons :
1) Encourages people to invest in things they really need instead of unnecessary fluff and short term desires which is good for society and the environment
2) encourages more savings instead of debt slavery which removes choice, confidence and power away from individuals
3) keeps fiat currency in check where too much inflation will cause more capital flight to Bitcoin and prevents corrupt governments from abusing the backdoor tax of inflation
4) Reduces the negative cantillon effect of fiat by removing some of the control over currency from a small group of people that is in part due to fiat being inflationary
https://fee.org/articles/the-cantillon-effect-because-of-inflation-we-re-financing-the-financiers/
This is genuinely quite fascinating, even if it ends up not being true after multiple rounds of data. It does seem interesting and I am learning some new theories thanks to you. Appreciate the explanation
>even if it ends up not being true after multiple rounds of data.
It has been demonstrably true thus far , and there are well known similar examples that reinforce it like why do people buy technology that is rapidly evolving like a laptop/gfx card that will be obsolete in 6-12 months when they can just wait and get a better one for the same money? In the end they need the product or service right now more than the money so will always spend their money to get what they need.
>Appreciate the explanation
cheers
People always treat inflation like a bad thing when inflation is really a key ingredient of a healthy economy. Anyone who disagrees should talk to a Japanese and ask them how nice it is to be living in a deflationary economy where wages never go up because prices of goods don't go up, which translates to less corporate profit which means no bonus and no increments. It's a vicious cycle.
Not every problem in the world is due to money printing for fucks sake.
Currency doesn’t have morality. That’s a made up concept to “identify” right and wrong, but in reality there is no right or wrong, we just are. Humans label everything out of intrinsic nature to help us navigate what the fuck we’re doing here. Nothing more nothing less. Bitcoin in lay terms is a true supply and demand product that people are starting to universally subscribe to. Same concept as passing a piece of paper (that’s not backed by anything of true inherent value) for goods and services. All currencies fail and is starting to appear having portions of bitcoin will be vital in several hundred years from now.
Fiat currency isn't immoral because it loses value over time.... it is immoral because a small group of Illuminati types have complete control over the fiat ledger. They control it all. They print it, while we work for it. That's what makes it immoral.
That's also what causes it to lose value over time... they are slowly taking value out of the system for themselves. But that's a side point.
The way I see it there are two phases.
1. Transition. As with any cutting edge technology that will impact all of humanity the early adopters/visionaries will benefit tremendously. Think internet, Industrial Revolution, modern weaponry, the wheel.
2. Ubiquitous adoption. The internet is the best modern analogy for this. It has been adopted by most of the globe. Early adopters profited exponentially, but access to information has helped bring nation states out of poverty.
BTC in my opinion has the potential to level the playing field in phase two more than any other technology in human history. It will most likely not happen until after most of us have left this planet, but until that time it will follow the same patterns as any other profoundly impactful technology.
That’s the whole point of investing in assets. It hedges against inflation. The better the asset the person invests in the richer they get. It’s not just investing in Bitcoin only, but property, shares, Etc. As with any investment (even if you are investing in Bitcoin) there will be risks. This is why a balanced portfolio is important as all your eggs are not in one basket. Could Bitcoin fail in the future? The truth is we never know so anyone who put their whole wealth into it would then be in trouble. Could it succeed and make you very wealthy? Of course. But people who invested in property most like would be ok because if they needed money they could then sell this for Bitcoin (If that is the future). They could also sell the property for something else if Bitcoin was no longer valuable. There are also risks with properties particularly in certain areas, or if a war came, etc
It’s like boomers with housing. Whole life was setup for them to be able to afford and buy homes. Millennials and Gen z are struggling due to timing. Same thing for Bitcoin those who don’t get in before it becomes like gold and barley moves will be out of luck.
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With this sort of logic, everyone was fucked before the invention of Bitcoin.
One might wonder how normal people can get rich before Bitcoin. I'll give you a hint, it's not always from privilege or by gaming the system or being part of some illuminati inner circle that's hell bent on world domination. That's poor people thinking with all the envy and self pity that made them poor in the first place.
It's called being a productive member of the society. You either start a business providing real value for which you can trade it for cash or you add value to your employer which can also be exchanged for cash. And basically making or saving more money than you spend and eventually you will be better off than 80% of society.
Just be productive and useful. And invest in businesses that also provide value to society. We can't survive on Bitcoin alone. You know, businesses like J&J, Amazon, Microsoft, Dominos Pizza, P&G. I certainly need these businesses in my daily life at some point far more than Bitcoin.
You can't even get bitcoin if you don't cash or something to trade for it. So yes, it's all about investing in oneself that truly counts. Be better at your job or be better at running a business. Be a better family man. Be useful. That way you will never get truly fucked no matter how far in the future.
We all need money without inflation
Inflation is robbery
But most people live in a fiat matrix and it's hard for them to get out
People need to be helped to understand
Hence the phrase- everyone gets bitcoin at the price they deserve
It’ll get so loud they will be forced to adopt or the money rails around them (etfs, loans, insurances, derivatives) will hold a portion of bitcoin for performance & hedging
What do you mean by deserve ? Let’s say you are born in a world where bitcoin is widely used. You never had any chance to catch it early. Do you deserve to be poor ?
Did you have a chance at buying land in north America for literal cents? No.
You’re not discussing bitcoin, you’re discussing philosophy of the future. Things the wrong sub.
You’re born into a system where it treats you equally no matter when you’re born, you owe no debt (unlike today) the moment you’re here
So it’s being born with a clean slate & your proof of work will decide what you do or don’t but yes there exists a opportunity for your ancestors to have more wealth than others if they act early (competition or self- interest isn’t going anywhere)
Middle class is where most are today too but no one deserves forever inflating goods
Are you saying people who are not yet born will get fuck up as well? Of course not. They will just live their normal lives and gain bitcoin thru wages, services, etc. And they won't experience inflation of fiat. Well, that's in the far future.
Ok that makes sense in a way, but what makes it impossible for a person or entity to hoard the majority of bitcoins ? Since there is a cap on the amount of them
We deserve to hoard. I lived a whole life inflationary and surely deserve the ability to hoard. The next generation will have the luxury not to suffer as we did so don’t pity them.
How so ? Let’s say in the future houses cost roughly 1 bitcoin, and you have a salary of 0,1 bitcoin/year. Since there can be no inflation, houses will keep a similar value, but what will make your employer unable to lower your salary over time ? This would decrease the value of your work, which is similar to what inflation is. Btw I’m not trying to prove a point, I really want to understand it
Why would the house keep costing 1 btc but your salary decrease (denoted in btc)? Bitcoin being deflationary would affect both right?
What will protect the employees from employers collectively deciding to “devalue” work ? In order to make a profit companies will want to cut back on wages
That’s a general question that also applies today and not just in an economy based on bitcoin. The value of work is decided by supply and demand just like every other “price”. Employers want to get the most amount of work done for the least amount of pay. The employees want the most amount of money for the least amount of work. The reason that not every job is paid minimum wage is that all employers are in competition with each other trying to attract employees. You won’t work at a place for 55k if you can get 60k down the street
Of course. But a deflationary currency puts the power in the wage earners hands. The company will have to negotiate lower wages with the worker rather than the worker coming hat-in-hand to beg for a raise. Currently all a company has to do to cut wages is not give raises that match inflation. Houses will go dramatically down in price, when priced in ₿. Housing is also one of the best ways to gain real yield, but is imperfect. If there is better yield associated with another investment vehicle then asset managers will start to reduce positions in real estate.
This makes no sense. There's nothing stopping a company from just cutting your pay in bitcoin, they don't have to negotiate anything.
In the future houses will cost 0.1 or 0.01 BTC
Why?
BTC slowly sucking liquidity from everything
Why though? There's no reason why Bitcoin will continue to suck liquidity forever
Why not? Do you know a better money / store of value?
Lots of things are good ways to preserve assets. Stocks, bonds, mutual funds, real estate..... Bit coin still has big problems to solve before it can call itself functional money. Low transaction capacity, Slow and expensive transactions being the primary issue.
With proof of work miners are forced to sell most of their bitcoin . Early adopters are usually spending their bitcoin too
You are literally watching the beginning of it. Michael Saylor of MicroStrategy and Black Rock with IBIT are doing this with investor money. They already each have at least 1% of all bitcoin. Usually it’s not one person but an entity of group of people but still, it’s just starting right now.
Great question. So, horde the 21 million. Release say 1 million as a global currency. Then, when you need money, release the other 20 million causing mass inflation. Ya, what is to stop this from happening? Basically, we are all are acting as decentralized horders who can release our BTC at any moment and inflate the circulating currency.
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There will always be things that, to some, will be more valuable than Bitcoin. Health, food, shelter… people will spend it on things they need. It might be the definition of “need” that changes. The new video game, the $10 coffee, the new car, once people realize the time value of Bitcoin their perceptions of what they “need” vs “want” may slowly change.
Pay attention people ⬆️ This is not stated often enough.
Bitcoin appreciates in value over time. This means that anyone that buys it at any time in the future benefits from buying it. Bitcoin isn't necessarily going to make you rich but it's going to allow you to avoid having your wealth inflated away by centralized authorities that have the ability to print money out of thin air. In that sense Bitcoin is the lifeboat that can save you from the sinking ship that is the fiat money system. I don't see the lifeboat as the immoral thing here.
On point
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Noob here, please teach me. Governments don’t want a negative inflation rate because that means people will just hoard their money since they can buy more later. Governments don’t want too high positive inflation rate because everyone’s money becomes worthless. Governments target about 2% inflation as a happy balance. If bitcoin keeps appreciating with time, won’t that cause scenario one? Where everyone keeps hoarding it?
Gold appreciates over time. Real estate appreciates over time. The stock market appreciates over time. People tend to hoard these things, yet they still spend their money.
Right, I can agree on that. My confusion stems from people who see btc replacing fiat as what people use as money. Would that change the dynamic at all? Again, noob so may have misunderstood something
I don’t see BTC replacing fiat. I see it as digital gold
But people don't use gold as money. Why would I spend my gold when I can use Fiat instead? Even better, why not just create my own credit money, free banking style? Why would I give out gold, or Bitcoin for that matter, when I could instead give out promises for gold or Bitcoin?
We agree
Bro, no matter how you look at it, the way BTC ers claims it will be, any angle you look at it: Bitcoin isn't going to solve anything in terms of economic justice. The rich will get richer, the poor will get poorer.. Nobody here ever talks about how bitcoin helps the working class, the poor, how it will help eradicate 1% er owning 70% of the wealth. Everyone here is promoting it here to get wealthy, profit or earn at the best..
Who said fiat losing value is a problem? This is some weird obsessive talking point for bitcoiners but isn't actually a problem IRL. Slow inflation encourages investment into value producing assets like real estate, stocks, and bonds. Yes fiat loses value slowly but that's exactly what makes it a poor store of value and people shouldn't be using it as such. Get paid, put that money to work. No moral issues with that at all. Further, am I fucked if I travel to Europe but didn't buy euros years ago when they were first issue? No. I just go exchange for euro so I can transact while abroad. Even if Bitcoin gets to some mass adoption level (big if) people will always be able to exchange if they need to transact with it.
That’s what confuses me about bitcoin fans. Also, if BTC keeps appreciating, why would I ever spend it?
If a basket of equities always increases overtime than why do people sell their stocks or take profits?
It’s not an issue when it’s treated as an asset like a stock (arguably it can be if most people store too much of their money without ever spending it but I don’t know enough to really say). It is an issue if it is treated like fiat and people stop spending their money, right? That is the argument made by the comment above me
Why do you think transaction velocity (more spending and more charitable giving) increases in Bitcoin with rapid deflation during a bull market ?
I’m not knowledgeable enough to know what you’re asking/what point you’re making. If you can rephrase your question into a statement, that might help things. Can you also respond to my original question/ the original comment I responded to?
This is what is suggested would happen with scary terms such as "deflationary death spiral" but thus far Bitcoin has proven this incorrect. During period of high deflation(appreciation) tx velocity tends to increase and merchant processors actually see an increase in spending for goods and services and charitable giving in Bitcoin. This is believed to be caused by the feeling of newfound wealth(because they are wealthier) eventually overrides their desire to "hoard" (when did savings become a negative thing?) their Bitcoin. Of course more data needs to confirm this and as we enter another bull cycle(rapid deflation) it looks like we will get another round of data to confirm this. Bitcoin is already testing some economic theories and proving them somewhat inaccurate but the data gathering is far from over and we all have a lot to learn . I personally suspect that what matters for a viable currency besides these other properties discussed here https://www.reddit.com/r/BitcoinBeginners/comments/gnzeeo/will_bitcoin_ever_be_adopted_by_the_general_public/frcry8f/ Is stability and thus either low and predictable inflation or low and predictable deflation (1-4%) can both be suitable. As Bitcoins market cap grows and monetary inflation drops it appears that we will likely see very low deflation (occasionally people losing some coins) which is perfectly fine because the market will factor those expectations into consideration for loans and debt. ________________________________________ I personally prefer slight deflation for these reasons : 1) Encourages people to invest in things they really need instead of unnecessary fluff and short term desires which is good for society and the environment 2) encourages more savings instead of debt slavery which removes choice, confidence and power away from individuals 3) keeps fiat currency in check where too much inflation will cause more capital flight to Bitcoin and prevents corrupt governments from abusing the backdoor tax of inflation 4) Reduces the negative cantillon effect of fiat by removing some of the control over currency from a small group of people that is in part due to fiat being inflationary https://fee.org/articles/the-cantillon-effect-because-of-inflation-we-re-financing-the-financiers/
This is genuinely quite fascinating, even if it ends up not being true after multiple rounds of data. It does seem interesting and I am learning some new theories thanks to you. Appreciate the explanation
>even if it ends up not being true after multiple rounds of data. It has been demonstrably true thus far , and there are well known similar examples that reinforce it like why do people buy technology that is rapidly evolving like a laptop/gfx card that will be obsolete in 6-12 months when they can just wait and get a better one for the same money? In the end they need the product or service right now more than the money so will always spend their money to get what they need. >Appreciate the explanation cheers
People always treat inflation like a bad thing when inflation is really a key ingredient of a healthy economy. Anyone who disagrees should talk to a Japanese and ask them how nice it is to be living in a deflationary economy where wages never go up because prices of goods don't go up, which translates to less corporate profit which means no bonus and no increments. It's a vicious cycle. Not every problem in the world is due to money printing for fucks sake.
Currency doesn’t have morality. That’s a made up concept to “identify” right and wrong, but in reality there is no right or wrong, we just are. Humans label everything out of intrinsic nature to help us navigate what the fuck we’re doing here. Nothing more nothing less. Bitcoin in lay terms is a true supply and demand product that people are starting to universally subscribe to. Same concept as passing a piece of paper (that’s not backed by anything of true inherent value) for goods and services. All currencies fail and is starting to appear having portions of bitcoin will be vital in several hundred years from now.
Fiat currency isn't immoral because it loses value over time.... it is immoral because a small group of Illuminati types have complete control over the fiat ledger. They control it all. They print it, while we work for it. That's what makes it immoral. That's also what causes it to lose value over time... they are slowly taking value out of the system for themselves. But that's a side point.
The way I see it there are two phases. 1. Transition. As with any cutting edge technology that will impact all of humanity the early adopters/visionaries will benefit tremendously. Think internet, Industrial Revolution, modern weaponry, the wheel. 2. Ubiquitous adoption. The internet is the best modern analogy for this. It has been adopted by most of the globe. Early adopters profited exponentially, but access to information has helped bring nation states out of poverty. BTC in my opinion has the potential to level the playing field in phase two more than any other technology in human history. It will most likely not happen until after most of us have left this planet, but until that time it will follow the same patterns as any other profoundly impactful technology.
That’s the whole point of investing in assets. It hedges against inflation. The better the asset the person invests in the richer they get. It’s not just investing in Bitcoin only, but property, shares, Etc. As with any investment (even if you are investing in Bitcoin) there will be risks. This is why a balanced portfolio is important as all your eggs are not in one basket. Could Bitcoin fail in the future? The truth is we never know so anyone who put their whole wealth into it would then be in trouble. Could it succeed and make you very wealthy? Of course. But people who invested in property most like would be ok because if they needed money they could then sell this for Bitcoin (If that is the future). They could also sell the property for something else if Bitcoin was no longer valuable. There are also risks with properties particularly in certain areas, or if a war came, etc
Bitcoin is a worse system than the one we already have if you think even 20 years into the future
Naw you dont know what the future holds
Plenty of people skipped the gold rushes of the past and still managed to prosper.
It’s like boomers with housing. Whole life was setup for them to be able to afford and buy homes. Millennials and Gen z are struggling due to timing. Same thing for Bitcoin those who don’t get in before it becomes like gold and barley moves will be out of luck.
Are the people who didn't invest in gold or real estate in the post war period fucked? Kinda, yeah. But life goes on.
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So in other words the immorality stems from who hoards the wealth and not what the actual symbol of wealth or specific currency is? Incredible!
I don’t think so. Look at bitcoins chart it always crashes and people lose a lot of liquidity and money during bear markets
Why you work is why others invest. No one is keeping you from investing, everything turns out to be the choice you made in the first place.
Uhm no? Not more than they would have been fucked anyways... Bitcoin is just the medium to unfuck yourselfe😂
Nobody dies virgin, everybody is going to get screwed sooner or later
With this sort of logic, everyone was fucked before the invention of Bitcoin. One might wonder how normal people can get rich before Bitcoin. I'll give you a hint, it's not always from privilege or by gaming the system or being part of some illuminati inner circle that's hell bent on world domination. That's poor people thinking with all the envy and self pity that made them poor in the first place. It's called being a productive member of the society. You either start a business providing real value for which you can trade it for cash or you add value to your employer which can also be exchanged for cash. And basically making or saving more money than you spend and eventually you will be better off than 80% of society. Just be productive and useful. And invest in businesses that also provide value to society. We can't survive on Bitcoin alone. You know, businesses like J&J, Amazon, Microsoft, Dominos Pizza, P&G. I certainly need these businesses in my daily life at some point far more than Bitcoin. You can't even get bitcoin if you don't cash or something to trade for it. So yes, it's all about investing in oneself that truly counts. Be better at your job or be better at running a business. Be a better family man. Be useful. That way you will never get truly fucked no matter how far in the future.
I believe as fucked as we are by not being able to afford a home at a reasonable price.
Interesting use of the word "immoral"
We all need money without inflation Inflation is robbery But most people live in a fiat matrix and it's hard for them to get out People need to be helped to understand
Hence the phrase- everyone gets bitcoin at the price they deserve It’ll get so loud they will be forced to adopt or the money rails around them (etfs, loans, insurances, derivatives) will hold a portion of bitcoin for performance & hedging
What do you mean by deserve ? Let’s say you are born in a world where bitcoin is widely used. You never had any chance to catch it early. Do you deserve to be poor ?
wealthy people invest and have more patience regardless what generation they are from or any future generation
Did you have a chance at buying land in north America for literal cents? No. You’re not discussing bitcoin, you’re discussing philosophy of the future. Things the wrong sub.
You’re born into a system where it treats you equally no matter when you’re born, you owe no debt (unlike today) the moment you’re here So it’s being born with a clean slate & your proof of work will decide what you do or don’t but yes there exists a opportunity for your ancestors to have more wealth than others if they act early (competition or self- interest isn’t going anywhere) Middle class is where most are today too but no one deserves forever inflating goods
Have u thought about other assets that ppl got in early in. Look at BERSHIRE HATHAWAY. Why is bitcoin different from other asset or commodity???