Imagine 10000

[DoomDumas]

the market "cap" will never be correct due to all the missing/destroyed/too afraud to spend due to theft coins etc

and a market cap expressed in hyperinflating fiat dont mean much !

[DoomDumas]

People often ask when I will sell my btc.

My answer is always the same: I will never sell them. I will spend them when the concept of selling them has become obsolete.

+1

+1

The problem is that if they constantly appreciate, no one will ever spend them.
Then it becomes a bit like the Tulips, and it will crash to the ground.

I would rather see a bit coin economy grow, then the price can appreciate slowly up to 10,000 or whatever

So im no one ?  I still spend BTC each month, whatever the price is, and I always enjoy doing it. 

[DoomDumas]

You're saying economic growth is a bad thing? Can you extrapolate that logic a bit further for me?

I can.

What you (and many people I guess) need to realize is that our current financial system has a built in imperative for economic growth. Not sure how many people understand what is meant by "economic growth". It means supplying more products and services which can be bought for money to the economy. Thus when I grow some tomatoes on my balcony and consume them, we have no economic growth. But if I sell them to my neighbor for 10$ the GDP just grew by 10$. Does this tell us anything about whether the whole society participating in this economy is better of or not?

Do not forget that economic growth is imperative to the monetary system. It can not function without it. Thus it encourages consumption. It prefers a situation where you buy a 1K$ laptop every 2 years and a 2K@ fridge every 5 years to a situation where you buy both for the same price and they both last you 15 years. Besides the devastating consequences like planned obsolescence of consumer goods it is pure insanity to demand perpetual "growth" on a planet with finite resources. At this rate the system will burn through all the resources and eventually collapse or be forced into something more sustainable. The point is we can't have a sustainable economy without a monetary system which creates an incentive to save ("hoard" if you want to cast it in a bad light) as opposed to an incentive to spend.

I applaud BTC for providing such a model and am happy to see all the HOARDERS saving their money and thinking twice before making a purchase. The consumer fetishism needs to go.

Well said!!

Not really. The fact remains that unless your ultimate goal is to return to a small, self sufficient hunter/gatherer society, economies must grow in order to prosper. As more people are born, grow up, and become adults, there must be jobs for them in order to contribute to society and attain wealth. Wealth is then created and distributed amongst members of society through the act of trade. Without growth, unemployment and social strife always ensure.

Any of you have ever read about a Ressource Based Economy ?