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Cake day: April 29th, 2025

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  • toastmeister@lemmy.catoPrivacy@lemmy.mlThe Privacy Iceberg
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    1 day ago

    Well its still early days, Biden was very against Crypto, so point of sales systems couldnt provide it. Companies like Square are now working on it, so you will be able to use it; or any form of cash you want, or fractional shares and gold etf.

    Maybe all currencies will just be forced to compete on inflation one day, and everyone will use the one with the lowest annual growth in new supply.



  • toastmeister@lemmy.catoPrivacy@lemmy.mlThe Privacy Iceberg
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    1 day ago

    Do you think credit cards are ideal? People happily pay a 4% fee to Visa to buy something at the store, yet you think a spot convert is going to be the death knell?

    As well as the deflation of their currency, as the currency increases at around 10% a year, as you’re praying that a CPI that does hedonic adjustments and substitutions maintains your standard of living; as we go from free range to factory farms, and housing appreciation is excluded entirety.

    Maybe it wont be bitcoin, maybe it will be fractional shares, or spot convert gold, but I am definitely waiting for the day when I can hold 0$ in cash. I’m already near 0, but I’d like to replace it entirely.









  • I think its because deflation is when the money supply is contracting and less debt is being created, so asset values begin to be valued at their actual value instead of their inflated nominal value, and people are no longer encouraged to attain the cantillon effect that drives up asset values.

    Which an inflated nominal value then causes more consumption via the wealth effect, and the misallocation of capital known as the business cycle, that requires bailouts via money printing in order to debase people on fixed income which provides riskier debt issuance and more innovation.