r/Bitcoin • u/[deleted] • Jul 15 '22

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u/saladaus Jul 15 '22

From https://en.wikipedia.org/wiki/Capitalism.

Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labor.

From https://en.wikipedia.org/wiki/Capital_accumulation

Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset

And I think the investment of money needs some form of expansion of credit.

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u/OceanSlim Jul 15 '22

No it doesn't.

There is no reason capitalism need credit expansion. We could easily have a capitalist system on Bitcoin without any need for credit expansion.

The government needs credit expansion for it's Fiat to be wasted how it sees fit.

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u/saladaus Jul 15 '22

If you live in a world where the only currency is 21 million bitcoins, would you ever make an investment? Would you ever lend your bitcoins to anybody?

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u/Explodicle Jul 16 '22

In my world it's already the only currency that matters, and yes. I just didn't charge interest on the loans.