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RE: #5.1 - The reasons for spending your bitcoin, constantly
Thank you for the thought-provoking post. Respectfully, I disagree and would welcome your thoughts. As it stands today, my hard-earned US dollars generally buy me less every year because of inflation, exacerbated by my country's central bank's monetary policies. Why should I use a deflationary currency like BTC instead? I understand your point about its value being speculative, but I'll take that all day with the fore-knowledge that there is a finite supply and so far, there is not one central figure or group that controls it. I cannot say that about any modern nation's currency that I am aware of. If anyone asks me, assets should only be used to acquire other assets. Money is for buying things.
Thats the beaufiful thing - our opionion should be our own, and we have the freedom to disagree respectfully. Thank you for your imput.
If you look at my previous articles, I try to explain why spending (not selling) is important for fighting the worst case deflationary "HODL"consequences. (mybe I should cover this better in a later post).
But I think I agree with some of your points, if I am understanding you right.
But the hard cap is not the REAL Importance of BTC - decentralization is, IMO.
Now "what is money" is a whoooole other discussion - i would recommend watching Andreas Antonopolous' talk (The stories we tell about money) - to understand
That is to say - spend and buy back (sometimes at lower price) - to maintain and encourage use of the currency, without loosing out on gains.
My next article today is actually about how spending BTC can earn you BTC at certain times, while improving your purchasing power at other times. :)
I hope to hear your input on that.