I remember that in school, they once explained how inflation works:They told us, that there are technical advancements, for example a better typewriter or computer that will be priced higher then the older one. They don't want want to lower the old prices, so the new stuff gets more expensive. However, a Baker sells the same bread. So he has to rais his prices too, if he wants to buy better machines.So basically their argument was: Better technology makes inflation.Now, through Bitcoin, I learned that it is not only wrong, but the other way arround. Technical advancements make stuff easier and cheaper. And I am thinking, why they wanted us to intentionally think wrongly about price developement? Not only not educating us about finance, but doing so in the wrong direction. via /r/Bitcoin https://bit.ly/49swMC3
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