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rblatz on Sept 23, 2017 | parent | context | favorite | on: Bitcoin is fiat money, too

And that’s why the fed ensures we have a mildly inflationary currency. If it deflated spending would drop, cutting the velocity of money, and cutting out economic growth.

0x445442 on Sept 23, 2017 | [–]

"If it deflated spending would drop"

That statements not a given. If it were so, people would not use credit cards.

rblatz on Sept 24, 2017 | | [–]

That’s interesting, I’ve never thought about credit cards as a sort of deflationary virtual currency.

seanot on Sept 23, 2017 | [–]

You're discounting the technology sector and nearly the entire 19th century.

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