{"type":"rich","version":"1.0","title":"Hanshan wrote","author_name":"Hanshan (npub1lx…6svxa)","author_url":"https://yabu.me/npub1lxzaxzge0jq9u9cecucctdt5lslwgp7hcxmp2l0wn8r2ecjenwasu6svxa","provider_name":"njump","provider_url":"https://yabu.me","html":"For starters, no.\nThe argument is NOT that \"without inflation people will not spend\"\nThe argument is that a *maximally deflationary environment* is not in the best interest of human progress.\n\nSaifes explanation here is full of flaws.\nMost people do not buy brand new phones, they defer purchasing until the new model is cheaper. \nYes people will still make purchases, for necessity and pleasure. A maximally disinflationary environment disincentivizes all capital investment and all purchasing as much as possible.\n\nUsing gold as an example of people spending on a hard money standard?\nGold has supply inflation bro.\nGold is evidence that a hard cap is NOT a requirement for good money.\nThe requirement is that supply is known, stable and requires Work.\n\nAll in all\nvery not convincing.\n\nnostr:nevent1qvzqqqqqqypzqntcggz30qhq60ltqdx32zku9d46unhrkjtcv7fml7jx3dh4h94nqy88wumn8ghj7mn0wvhxcmmv9uq3wamnwvaz7tmjv4kxz7fwdehhxarj9e3xzmny9uqzqqexvy0kfmw2kftdl7a75590qyge6e0lp8h2a4m0z9qd0xjwzx7k5mzmzs"}