>So if every grocery was to be priced in BTC, you wouldn't eat? :)
Yes, people didn't eat much during the great depression, they had no money to buy more food even though there was enough to eat for everyone. How hard is it to comprehend that if you are unemployed you can't afford food?
If BTC results in unemployment then a lot of people are going to end up hungry.
>Remember that the US was on the gold standard with a similar inflation profile to Bitcoin and consumers were consuming.
We also had two economic depressions that lead to two world wars.
During the good times, you are correct that few people hoarded money in the hopes of deflation. During bad times, people actually do make this calculation (and so might be hamburger instead of steak). Deflation is believed to have significantly prolonged and worsened the Great Depression, and that experience was one of the motivating factors behind the global abandonment of the gold standard.
Basically, the calculator uses data sourced from 3rd parties and therefore cannot be made publicly open anymore. It is still available to employees and candidates though.
"Random Walk Down Wall Street" is somewhat outdated and a lot of the evidence from behavioural finance doesn't really support its central thesis. It's more dogma than anything.
I've always hated the argument of this book: yes the markets are chaotic and short term movements appear random, but the appearance of being random is not equivalent to being caused by a random process. The book makes a big deal about how technical analysts saw patterns in random data so it must be bunk, but this doesn't really say anything about the predictive power of technical analysis when the data is generated by the aggregate actions of thousands of traders instead of a coin toss.
Price action is not the result of investors literally buying or selling at random. Each action is undertaken in response to external conditions and it is far from absurd to believe that patterns can exist in the price.
