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Notes -
Those 2 million aren’t in circulation per se, though, since the mantra of most owners is to buy and hold. In many ways it’s a demonstration of the issues with non-fiat, non-inflationary money.
Well, that's an interesting questions - e.g. banks use deposits to issue loans, but what Coinbase is doing with its 2 mln bitcoin deposits? This is a valid question but very different from the assertion @Tree was proposing. Looking at https://data.bitcoinity.org/markets/volume/30d?c=e&t=b the trading volume in BTC is in around tens of thousands of coins traded daily, which is of course small part of overall bitcoin mass but still a respectable volume as it seems to me. Over a longer period of months, the volume is in millions, so I don't think it'd be right to assume the BTC market is so illiquid that the prices are substantially caused by lack of liquidity. Of course, I am not an economist, so if somebody more qualified could point out an error in this assessment, I'd be thankful, but that's what it appears to be to me.
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That's not necessarily it. I used to know a guy that donated 1000 BTC to a minor-mid influencer, back when the price was in single digits. It later came out that the recipient lost his wallet key, without selling a single coin.
Either way, I don't really is see the problem. The pathologization of savings always struck me as economist cope.
It’s not even good economics. Any good economist knows that the “deflation bad” meme is wrong unless you add extra assumptions.
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