I think a bitcoin standard recognized by everyone is still 15-20 years away but we will be able to see it more clearly in maybe 5 years. Jeff Booth says it will cause prices to go down forever. He claims that even if we earn less money, we will be able to get more for our money because “prices always fall to the cost of production”.
I think he’s right about BTC but it definitely won’t be a fast or smooth transition and who knows how regulations and other coins besides bitcoin will affect things.
I am not sure how the BTC standard will facilitate price to go down. 🤔
basically prices naturally would go down from competition forever (if you believe free markets work, I kind of do and kind of don’t) and they should be now but because inflation we feel things getting more expensive
Check out Jeff booth. I like his arguments although I think free markets lead to monopolies, but controlled markets seem to do the same and worse so Iduno 🙃
!LOLZ. I don't know either.
Honestly speaking, I feel like skeptical about everything.
I believe anything can be used for monopolies and selfish interests dpending on who holds the power
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right? I understand 🤣 it’s an interesting theory on btc thoguh!