The free market is a competition in service of you while anything else ends in a competition to prey on you.
And one of the reasons why #bitcoin is so hard to understand is that it is the first global free market that has ever existed.
Discussion
“Newborn eyes always cry with pain…first look at the morning sun.” -Chris Rea
Become is to lose
Bits of you lost forever
To face a monster
#haiku
even the most obstinate will learn about bitcoin through its effects.
when they see a part of the herd break off and become immune from predation, curiousity will eventually intrigue them enough to check it out
Yes. The whole world is learning about unstoppable borderless freedom and absolute scarcity.
true. Bitcoin market still has state caused barriers to fiat and retail trade though
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It is crazy that we can listen to you and read your posts, you are the genious of our time! thank you Jeff! your biggest fan, love from Spain
Cant wait for your book
🧡💜🙏
Jeff. Wondering if I have this right.
Assume an inflationary system: innovators are motivated to find new methods/discoveries/systems that can outpace inflation. The reward of these “hacks” are first accrued by the innovator and then later diffused to the larger population.
In a deflationary system (Bitcoin), will innovation slow because the motivation of outpacing inflation has been removed?
Does the inflationary system have to run its course completely via AI and robotics before a deflationary system takes hold?
I do not believe so. The pace of innovation likely speeds up a lot since all of the misallocated capital, centralization and waste is removed - unleashing billions of new minds to create value for all of us.
Many people falsely believe that debt is required for the entrepreneurial process while most funding for new ideas comes from equity because new models don’t have metrics (that would allow debt) until they build value for users (ie - equity is placing a bet alongside an entrepreneur on the future value that they are creating for users and if that creates enduring revenue/profits)
Thank you. I will think about this for a while.
Another reason why it’s hard to understand is that it’s in the interest of oppressors and looters that you not understand what a free market is.
So true Jeff. I know people nod when you say that the natural state of the free market is deflation but I don’t think most really know what that means because they’ve never seen it. What do you think?
