We are heading for a society where the price of goods will decrease each passing day.We are heading for a society where we will only use bitcoins to trade goods and services.
I know it is too early to say these things but it is quite possible.Today as time passes we need to pay more for the same goods and services due to inflation.Inflation means depreciation of the value of the fiat currency.So as time passes, your purchasing power decreases.
This happens because with each passing day central banks print more and more money.But condition will be very different when we will start using Bitcoins.
No one can print more and more Bitcoins.They are finite in number.So if we start using bitcoins in future, the price of goods and services will go down with time.This is just the opposite of what is happening today.
If someone does a lot of hard work today and saves that money in the bank, the value of the money after 10 years will be less.But if someone saves up bitcoins, the worth of bitcoins will increase. Is it not good?Don’t we want such an economy?
Now some people might start questioning that if it is possible to use bitcoins. There are six digits after the decimal point which are counted in terms of Satoshi. Might be someday we will trade goods and services in terms of Satoshi.
As the number of bitcoins is finite, with each passing day we will charge less bitcoin for the same goods and services.
Only one problem will remain.What will happen when earning bitcoin will get too difficult?
We will start working harder to earn the same.But we are forgetting one thing.The price of the goods will decrease simultaneously to the same extinct.
It will be really a totally different economy if we start using bitcoins as a form of payment. I am feeling excited.
Surely Bitcoin is a revolutionary idea.