I'm confused. Gresham's law sais "bad money drives out good". Inflation is bad, so from that follows that the money that inflates more will be more used. Okay, I buy that.
Then this:
> When the singularity is reached, I think people will be more likely to choose to spend their inflationary fiat currency instead of their deflationary cryptocurrency.
I'm lost here. People already prefer to spend USD over Bitcoin. So I understand the change would be if Bitcoin inflates faster, because then people will prefer to spend Bitcoin. But the article sais the opposite.
Or doesn't "stable against USD" mean that Bitcoin will inflate/deflat at around the same rate as USD?
Interesting article, I'd love to understand it! Anyone?
Then this:
> When the singularity is reached, I think people will be more likely to choose to spend their inflationary fiat currency instead of their deflationary cryptocurrency.
I'm lost here. People already prefer to spend USD over Bitcoin. So I understand the change would be if Bitcoin inflates faster, because then people will prefer to spend Bitcoin. But the article sais the opposite.
Or doesn't "stable against USD" mean that Bitcoin will inflate/deflat at around the same rate as USD?
Interesting article, I'd love to understand it! Anyone?