Comments by "bj0rn" (@TheLivirus) on ""Bitcoin To Hit $220,000 This Year" predicts Max Keiser" video.

Premise: "Banks print all this money to reduce the value of private savings. Better to use bitcoin as currency, because its value grows." Alright, let's examine this. (A) has inflation been particularly high lately? Not really. Annual inflation of dollar sits quite stably around 2% since the 80's. (B) is inflation bad? Well, it is bad if too high or if you are hoarding a currency rather than investing your savings into things that retain value or grows. It's great if you want to create an incentive for reinvesting savings into the economy.(C) is it good that the value of a currency increases? Well, this is what is normally called deflation and is known to throw economies into recession, because it kills the incentive to invest in actual productive activities.
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