John Griswold
2 min readApr 7, 2021

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The BTC advocates can't transform their stimulus checks into bitcoin. When they buy a coin with their stimulus check money, that currency transfers to the seller who most likely puts it back into circulation with a purchase, of goods or services. They could store their stimulus money in their mattress where it would slowly depreciate from inflation, or in a bank account where the interest accrued would slow down the depreciation. but when they buy what they hope is a store of wealth they put the money back in circulation.

When a electric circuit is used, some of the current is converted to work, lighting a room or spinning a tool, the portion used is effectively destroyed through the conversion. In commerce the medium of exchange is NOT destroyed, it passes from hand to hand making transactions possible but not changing form in the process.

The power company might be analogous to the government in a couple of ways. First, when the power company puts electrons in the lines it tries to match supply with demand. Should an industrial user draw too much out of those lines there won't be current left to serve household users.

In similar fashion, when corporations and asset holders draw too much currency out of commerce, through profits and rents there is too little left to meet the needs of consumers and small businesses. At this point the supplier of currency, the government, can put more in the hands of consumers and small business and consumers in the form of stimulus checks, unemployment payments and the like to make up for the draw down in supply. I'll have to think about this;)

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John Griswold
John Griswold

Written by John Griswold

Master carpenter, watercolor artist and beat up old jock…owned by Black Lab Bo who considers two tennis balls a minimum mouthful

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