The Economics of Deflation
Jeff Booth at Bitcoin Atlantis
I’m a little miffed that I wasn’t able to attend Bitcoin Atlantis in Madeira. But some good friends are attending and tweeting frequently. I’d hope to be able to interview one or two of them on their return.
However, I’ve just listened to this presentation by Jeff Booth who makes some fascinating observations about life inside the rabbit hole - and, particularly, the deflationary characteristics of Bitcoin.
This was also observed yesterday by Jack Mallers (of Strike fame) when he was interviewed on some mainstream podcast or other. When asked about the volatility of Bitcoin pricing he made the very valid point that Bitcoin has been in a bull market since Satoshi invented it. The interviewer looked perplexed. His response: “the lows are getting higher and the highs are getting higher.”
The barrier to entry, therefore, is a reticence to understand.
Booth does a great job in explaining why there is potential salvation - for humanity - in understanding. Because, fundamentally, bitcoin represents an honest way forward.