This is how bitcoin will turn the world into better place I believe!

[Erdogan]

A deflationary economy will be a tragedy.

As stated, people think twice before spending, they are always expecting that prices will go down. That will contract aggregated demand and create a depression.

Besides, a deflationary economy means that if you borrow money you will have to pay interest, plus deflation, therefore it's very hard to invest, only very profitable investments would survive. That limits investment and without it the economy is dead.

I suppose you prefer that nonprofitable ventures get the scarce investment money. </sarc>

[BADecker]

I believe we should not be spending for the sake of stimulating the economy. We should only spend what we need. The idea of spending in excess for the sake of maintaining a vibrant economy is short-sighted and fails to consider long term consequences.

To create a good, we need inputs like land, human capital, financial capital and natural resources. The more we spend, the more the demand of a good, the more the goods will be produced, the more the inputs will be consumed. Instead of having more factories, the land can be set aside as nature reserves for plants and animals to live in and humans to enjoy. The less the human capital is required, the less the motivation to increase human population, thus a less crowded planet. Financial capital can be channeled to more meaningful causes like helping our less fortunate fellow human beings. Using less natural resources means having more forests, a less polluted ocean and air, and less climate change.

The short term consequence is an upheaval in society caused by high unemployment rate which is unacceptable to governments. For the long-term sake of our planet and humanity however, the current trend of economic growth regardless of cost must be reviewed. Our children deserve a better environment.

Bitcoin is a step towards creating that vision. In the current state, bitcoin encourages savings, not spending.

The next thing to do is to use things like Mastercoin, Counterparty, and MaidSafe when it is ready, to actually tie the various commodities of life into binding contracts that sit on the Bitcoin blockchain.

[FunnyHat43]

I get that optimism is important, but I'm so sick of people saying 'one million dollars' just like that when Bitcoin hasn't even hit a thousand dollars again yet. Can we go for a smaller goal, and then work our way up to a million? Even if we can get to one million.

Of course, in sales, you go for the BIG goal. That way you just might get something.

Yes, but sometimes going big allows you to make reckless decisions. Why do you think scammers scam?

You sold me. And you didn't even go for the big goal!

I agree, it is good to shoot to be big, but you need to be reasonable.

[BADecker]

I get that optimism is important, but I'm so sick of people saying 'one million dollars' just like that when Bitcoin hasn't even hit a thousand dollars again yet. Can we go for a smaller goal, and then work our way up to a million? Even if we can get to one million.

Of course, in sales, you go for the BIG goal. That way you just might get something.

Yes, but sometimes going big allows you to make reckless decisions. Why do you think scammers scam?

You sold me. And you didn't even go for the big goal!

I agree, it is good to shoot to be big, but you need to be reasonable.

World population is expected to be something over 9 billion by the year 2050. At that rate, what will the population be in 2140 when all the bitcoins have been mined? Let's guess that it might be 21 billion, just to make calculations easy. That means that on average there will be a thousandth of a bitcoin for each and every person on earth... if the bitcoins were spread out evenly, that is.

A $million per bitcoin isn't anything. Probably a $billion, and maybe a $trillion per bitcoin isn't big enough.

[oceans]

I really like the way the future looks for bitcoin, but only time will tell. I think the price is pretty stable, and most people wont sell their bitcoin for less than they paid.
Even if they mined it, it took power, and or an investment. Thats my opinion anyway.

[Eotnak]

I believe we should not be spending for the sake of stimulating the economy. We should only spend what we need. The idea of spending in excess for the sake of maintaining a vibrant economy is short-sighted and fails to consider long term consequences.

To create a good, we need inputs like land, human capital, financial capital and natural resources. The more we spend, the more the demand of a good, the more the goods will be produced, the more the inputs will be consumed. Instead of having more factories, the land can be set aside as nature reserves for plants and animals to live in and humans to enjoy. The less the human capital is required, the less the motivation to increase human population, thus a less crowded planet. Financial capital can be channeled to more meaningful causes like helping our less fortunate fellow human beings. Using less natural resources means having more forests, a less polluted ocean and air, and less climate change.

The short term consequence is an upheaval in society caused by high unemployment rate which is unacceptable to governments. For the long-term sake of our planet and humanity however, the current trend of economic growth regardless of cost must be reviewed. Our children deserve a better environment.

Bitcoin is a step towards creating that vision. In the current state, bitcoin encourages savings, not spending.

It's like you're in my brain, man...Awesome post.

[cuddaloreappu]

I believe we should not be spending for the sake of stimulating the economy. We should only spend what we need. The idea of spending in excess for the sake of maintaining a vibrant economy is short-sighted and fails to consider long term consequences.

To create a good, we need inputs like land, human capital, financial capital and natural resources. The more we spend, the more the demand of a good, the more the goods will be produced, the more the inputs will be consumed. Instead of having more factories, the land can be set aside as nature reserves for plants and animals to live in and humans to enjoy. The less the human capital is required, the less the motivation to increase human population, thus a less crowded planet. Financial capital can be channeled to more meaningful causes like helping our less fortunate fellow human beings. Using less natural resources means having more forests, a less polluted ocean and air, and less climate change.

The short term consequence is an upheaval in society caused by high unemployment rate which is unacceptable to governments. For the long-term sake of our planet and humanity however, the current trend of economic growth regardless of cost must be reviewed. Our children deserve a better environment.

Bitcoin is a step towards creating that vision. In the current state, bitcoin encourages savings, not spending.

It's like you're in my brain, man...Awesome post.

So bitcoin also promotes a greener world