Dear Compatriates,
I was hanging out by the pool today imagining a future where bitcoin had reached mainstream adoption. I imagined an economy where everything was bought via bitcoins and salaries were also paid in Bitcoins. Than I told myself: yes that's why I'll hold on to my bitcoin because they'll be worth more once the time comes. I realized that me and many others have no incentive to spend their bitcoin because it'll increase in value in the future. I feel there's a big problem here. Bitcoin, is still a currency, and if there is no incentive to spend it, I don't see how it could possibly survive in the long-run. I see it to be similar to an economic situation where a country's currency deflates. It's a disaster because it halts economic growth.
I would really like to hear people' thought on this. Does anybody else have this concern?
