The free market is a competition in service of you while anything else ends in a competition to prey on you.
And one of the reasons why #bitcoin is so hard to understand is that it is the first gl...
Jeff. Wondering if I have this right.
Assume an inflationary system: innovators are motivated to find new methods/discoveries/systems that can outpace inflation. The reward of these “hacks” are first accrued by the innovator and then later diffused to the larger population.
In a deflationary system (Bitcoin), will innovation slow because the motivation of outpacing inflation has been removed?
Does the inflationary system have to run its course completely via AI and robotics before a deflationary system takes hold?
Assume an inflationary system: innovators are motivated to find new methods/discoveries/systems that can outpace inflation. The reward of these “hacks” are first accrued by the innovator and then later diffused to the larger population.
In a deflationary system (Bitcoin), will innovation slow because the motivation of outpacing inflation has been removed?
Does the inflationary system have to run its course completely via AI and robotics before a deflationary system takes hold?
1