Mike Burr - log

[BT®] New Economic Understanding

With cryptocurrencies, the supply can be arbitrarily large and the value can be arbitrarily small (or zero). I clam that the confusion surrounding "priming the pump" (stimulus) and whether or not it does what's claimed comes from the fact that having a currency with this property is so abstract that it just never occurred to anyone that "Ah! One number goes up, and the other one goes down! That doesn't help anything." Mind you, we are talking about "voters"!

There will never be literal oceans of USD because we would have no where to put them. It's an unimaginable situation. So when more dollars come along, it just seems like more value added to the system because of how long it takes money to flow through the system. No one watches the tail of the wave to realize the area under the curve is less than X. Money moves ever faster, even with fiat, but never anything like crypto. In crypto: create a currency with arbitrary properties instantly. That's a new experience for everyone.

Now the fact that it's an illusion is plainly obvious to anyone who's excitedly bought seven trillion trillion Quark Coin for only $100 USD. And then just sat there and watched the value fall, despite expectations of inevitable lambos.

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