Sci/Tech Official Bitcoin to infinity ♾️ thread

[Bungee up]

I actually think I might have to right a book to explain this.
I thought it would be fairly obvious but it probably isn't. Especially considering the brainwashing.
It'd be called " you can't create something from nothing ".
Or " hang time was debunked on mythbusters "

 

[Jamie999]

I need you to understand that you can't have a hard cap currency and lend money that doesn't exist without creating it

Or course you can. You're forgetting (or intentionally leaving out) circulation. Every time money circulates is opportunity to redistribute it including opportunities for interest and lending.

 

[Bushkill Blades]

So this thread just turned into arguing?

 

[SiLVa_ABCTT]

I haven't even gotten into how gold has been mined for thousands of years and wages stayed the same
For hundreds and hundreds and hundreds of years
Despite the "mining of gold". At the rate of roughly 2% per year .
Usery was forbidden.

There's so much I could go on about to explain my Pont with fractional reserve banking ect. But that's not prescient
I need you to understand that you can't have a hard cap currency and lend money that doesn't exist without creating it

You speak in a lot of absolutes that don’t necessarily jive with the reality of the situation. I’m not an economist by any means, nor am I a banker but there are plenty of bankers and economists that do believe debt and credit will still exist on a Bitcoin standard. You can do a search online for more perspectives on this, unfortunately it’s not something I can really speak to but it’s not as impossible as you make it seem.

 

[SiLVa_ABCTT]

So this thread just turned into arguing?

I hope not. But Bitcoin triggers some people sometimes. Not sure why that happens but it does. I think because it’s a very niche topic and a lot of people have preconceived notions or opinions that don’t always align with a Bitcoin outlook. Or they just don’t get it.
I’m trying to answer questions I think I can answer but I can admit I don’t have all the answers. Only offering my perspective as I see it based on what information I think is valid to the discussion.

 

[Bungee up]

Or course you can. You're forgetting (or intentionally leaving out) circulation. Every time money circulates is opportunity to redistribute it including opportunities for interest and lending.

I'm definitely not.
You can't give out all these 30 year loans ( an extreme example) on compound interest where your paying back the principal + 5 or 10x and not expect a massive contraction in circulation.
Even if the banks weren't operating on a fractional reserve system this would still happen.
The same can be said for derivatives trading as well.

Anyway. If I still haven't made my point clearly, and I feel like I probably haven't then that's on me.
I'm definitely at the point where I've derailed this thread enough so that's the last thing I'm going to say about it.