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Earlier this month, the European Central Bank (ECB) published a paper in which the authors claim the existence of Bitcoin could impoverish non-holders and latecomers.
Specifically, they wrote:
“Since Bitcoin does not increase the productive potential of the economy, the consequences of the assumed continued increase in value are essentially redistributive, i.e. the wealth effects on consumption of early Bitcoin holders can only come at the expense of consumption of the rest of society.”
It drew the ire from many bitcoiners, including Frank in his Take… but isn’t this essentially what hyperbitcoinization is? If bitcoin becomes the money of the world, HODLers become the new wealthy elite while the fiat bag holders would effectively go broke, right?
The real crux, I think, lies in the first part of the quote. Many bitcoiners, including myself, believe that Bitcoin in fact would increase the productive potential of
We współpracy z: https://bitcoinmagazine.com/takes/the-ecb-economists-are-not-exactly-wrong-about-bitcoin-theyre-just-useless-
