Comment by imtringued
4 years ago
We devalue currency by 2% per year so people have an incentive to work = keep pumping. That work creates goods and services in the process.
The problem with Bitcoin is that if it goes up in value the additional time spent mining is ultimately a waste of time.
I live brazil and earn in BRL. In the USD/BRL pair, the dollar price keeps increasing when you look at the historical data. Does that mean that holding USD is enough and investing these dollars to make more dollars is ultimately a waste of time?