Artificial scarcity is critical to making bitcoin secure. But artificial scarcity in housing, imposed by NIMBY local politicians is hopelessly immoral and one of the most economically damaging policies this country has inflicted upon itself.
Discussion
This statement should make it obvious that substitutes for Bitcoin will be found. The only way Bitcoin could be permanently deflationary is through artificial scarcity.
https://github.com/libbitcoin/libbitcoin-system/wiki/Substitution-Principle
https://github.com/libbitcoin/libbitcoin-system/wiki/Utility-Threshold-Property
Glaze. This could be solved by better zoning. NIMBY is fair. There’s plenty of land to go around.
I think people who organize to prevent new housing being built in their city are selfish af.
What’s wrong with being selfish?
Well, unlike the kooks at the Atlas Society, I don't think egoism is terribly virtuous.
In between him offloading useless shitcoins onto retail, he also found time to do that, yes.
They don’t want congestion or the “little people” around. What’s wrong with that? Hurts them in the long term. Much more difficult to get services. Or they’ll just have to pay more, which they’d easily do, and probably do anyway.
I get it. You got yours. Congrats. I also enthusiastically support state governments ramming upzoning down your local government’s throat.
So, you’re a statist?
Certainly not anymore than you. At least my “statist” position is letting landowners build on the land they own.
Fair point. However land isn’t bought in a vacuum. We hardly own our own land anyway given property taxes are often incredibly steep. If you’re in a city there are many competing interests.
The arbitrary scarcity of blockspace is what is important to Bitcoin. Demand for alternative currencies will be supplied by the market, so absolute scarcity is a false meme.
все нормально))) уже решили много лет назад...в 1994
You're just arguing against the free market in both cases. In the free market, people will use whatever currency they want, not just Bitcoin, and politically organize locally against whatever they don't want in their backyard. 🤷
I'm pro-NIMBY.
I want nuclear in my backyard.
хорошо!) будет... ты готов майнить? держать хотябы 1-2 трх?
I saw this on Twitter* which seems relevant to your note:
“Fun fact: Adam Smith, the godfather of capitalism, advocated for aggressive land taxation. Otherwise, feudalists will drain productivity from society & hinder progress.
So the feudalists called themselves capitalists & convinced the schmucks they should tax their labor instead.”
https://twitter.com/stephenpunwasi/status/1628797457327964163?s=12&t=woqxTr-KL8JAJqJR1CFmVQ
*hangs head in shame.
I’m pretty attracted to the ideas of Henry George, as well.
