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so is your evidence the gold standard ?

like depression era gold standard ?

The Great Depression had nothing to do with the gold standard if that’s what you’re implying. It was actually the first fiat debt bubble and collapse of the Fed, which had just been established and started manipulating rates. Followed immediately by the largest, sustained program of govt intervention we had ever had, prolonging the disaster for a decade.

in other words, it was entirely caused by fiat manipulation.

A good primer:

https://open.spotify.com/episode/1IzDtYJdMGZ1R8JO9Rx0EE?si=N_dGW2mRQI2FISDSe9Vl0Q

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Discussion

Dan Wedge 2y ago

Why is 706 missing from fountain?

Guy Swann 2y ago

Oh shit, is it? Not sure it definitely should be there.

Dan Wedge 2y ago

No. turns out i dont know how to use fountain was searching my library of episodes rather than the shows

Cyber Seagull 2y ago

Precisely. Sound Money. The gold standard. any standard of a deflationary money does not prevent drepression level events or cultural cycles. Even the Bitcoin standard.

Islam and Judaism prevent the type of thing you mention. Their cultures forbid finance cycles like you describe and prevent psychologies arising like the ones you mention. Does that mean they need Bitcoin less ? No.

There are different schools of thought on what lead to the depression, each pushing their own version and sequence of events. They are all probably right on some things and wrong on others. I've studied your version and other scholars make their career out of arguing the contrary. The truth is a messy complicated mileu between them all, with no single solution.

Cheap energy, technology and war ended the depression and lead to the boom. All under sound money.

I am pro-bitcoin , but i have no illusions it will fix human nature. It does one thing well. Checks government abuse of power through money. It gives a way out. It does not fix your life.

How many bitcoin millionaires have killed themselves through drugs and alchohol ? How many are in pieces in a bag at the bottom of a river ? How many are showing the worst side of themselves and would have been better never to have heard of Bitcoin?

Bitcoin is a lifeboat, don't mistake it for the beach.

Sovereign Matt 2y ago

Finally someone I can relate to in the bitcoin world. You want to be my friend haha.

William ₿ Travis 2y ago

Bitcoin will not change human nature, but I see it as a means of grace. Fair weights and measures bring a moral effect to society and contributed to human flourishing.

Cyber Seagull 2y ago

In concert with roads and agriculture. Not alone. My thesis, if i have one, is that bitcoin alone won't change anything. We need freedom innovation in many other domains, education, relationships , cultural values.

An honest man behind a crooked weight is more important than the weight.

If individuals in bitcoin nation just coast along and don't build anything real, it will end up just being borrowed against and depegged from, like gold.

Guy Swann 2y ago

It’s actually not that complicated. Debts ballooned to 300-400% of GDP, then collapsed, then the govt response was absolutely idiotic, and it didn’t recover until a huge portion of the workforce returned from the war.

War does nothing for economic growth, it’s nothing but waste and destruction.

If that were the case then we could just build fleets of ships, sail them out into the seas and blow them up in perpetuity and we’d have a permanently healthy economy.

Cyber Seagull 2y ago

War incentivized cryptography->internet->bitcoin.

If there was no "other" to fight, society would not even need money, we would just exchange favors, as certain bitcoiners have pointed out.

Up to a point. We have reached the point where what you are saying is perhaps true. Nuclear, Biological, and modern war can wipe out more resources and human potential than is sustainable. Nothing quite drives innovation like existential dread. But we are beyond sticks and arrows.

My point about bitcoin fixing anything stands. If the gold standard, the go to example for why bitcoin will fix everything, could not prevent the great depression, despite being a similar scarce/depreciating asset, than bitcoin won't fix everything. (By everything i only mean what you say it will, not literally everything)

Either Bitcoiners( myself included) need to start fielding real answers to physical problems, visas, housing, economies and defence. Or we must admit Bitcoin is something entirely different with little in common with gold and will somehow not fall into the same state capture, and that it will offset depression level events even if we do nothing. Else fiat is likely to be seen as better for a very long time.

We spent ten years to create a shit experience like lightning, and the famine is like tomorrow.