Replying to đź«Ą

I cannot make the connection in measuring finances in bitcoin, and the advancement of ai. These seem like 2 different concerns...unless maybe someone is expecting job loss/opportunity from ai.

What are your thoughts on Saifidean's writing about energy economies in the Fiat Standard?
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Jeff Booth 2y ago

Prices fall to the marginal cost of production in a free market!

What is the “cost” of a line of code created by other lines of code?

As this moves into more industries, what is the cost of an AGI that can do any job better than people?

The only reason prices go up

Is they are manipulated to do so through an unlimited ledger. (We don’t live in a free market)

Bitcoin provides a limitation (21 million) to this ledger and therefore when measured in it….prices fall along with productivity gains.

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đź«Ą 2y ago

Agreed, as I remember from your audio book, and podcast appearances. Basically ai is going to bring production cost down, creating a deflationary environment (a good thing in a free market, which we do not have) and the resulting job and income losses will be "saved" by the government via stimulus, ubi and otherwise.

A good thing for entrepreneurs measuring financesinn bitcoin, bad for stagnant workers or government workers who never get fired and are paid just to show up to work.