This is how the #Bitcoin / #BTC / #Nostr gang should #GM moving fwd. 💁♂️
Pass it on. 🤙
Discussion
#GM FREN HAVE A FABULOUS 🌟 DAY TODAY
What's the TL;DR on this?
GM, FYI
#Monero / #XMR bros need more bullying. 🤙
homeboy is a technically ignorant NGU addict who confuses fiat speculation with "value"
just like 99% of #bitcoin maxis
I thought about your comment a few times over the last day. Most Bitcoin maxi’s I know came through considerable studying- books, podcasts, going hands on with it. If most of them are confused by what the true value is, what does that say about the more popular Bitcoin content that’s consumed along the way to, and informed, their maximalism?
What would you suggest as required reading that actually gets it right?
In my own experience, it’s better to listen to one’s internal voice than any content or expert whatsoever. The reading and research that is so advised is great for people of little conviction. But for the independent minded who have no problem formulating their own opinions about anything and everything, studying Bitcoin content can very well be a detriment.
wow great question
I don't know of anyone who actually gets it right. even myself.
the fundamental problem is that we CAN'T have accurate pricing on a fiat standard.
so how can "value" be measured?
I rail against this because Bitcoin maxis like nostr:nprofile1qqsxew647syatr8wexg7avd54grhjv086pudvjw6vesjss5mkeakjrqpzdmhxw309ucnydewxqhrqt338g6rsd3eqyt8wumn8ghj7mn0wd68yt33xvcnytndv4jxjcgppemhxue69uhkummnw3ezuct5x74xjf are hypocritical, without seeming to realize it
on one hand, its their mission to wake up the world from the fiat nightmare
otoh they love to whip out a fiat chart when it suits their argument.
as if it measured anything more than fiat speculation by Cantillionaires...
for all of us
the best approach is to keep learning
but the name of the game is *critical thinking skills*
all this maxi shit is just noise.
Well, the problem is that virtually all Bitcoin transactions are buying and selling it for fiat currencies. It’s worth X dollars because that’s virtually all it’s exchanged for now.
If and when Bitcoin is actually used as a medium of exchange, where the transactions become overwhelming in goods and services, it’ll be priced in those goods and services, and those goods and services will be priced in Bitcoin. It’ll stop being about number-go-up and more about things like food-costs-go-down (relative to Bitcoin), or housing, healthcare, and education costs go down (relative to Bitcoin).
makes sense to me ❤️
Finally someone with some basic common sense. 💁♂️
nostr:nprofile1qyw8wumn8ghj7mn0wd68ytfsxyh8jcttd95x7mnwv5hxxmmdqyg8wumn8ghj7mn0wd68ytnhd9hx2qpqlxzaxzge0jq9u9cecucctdt5lslwgp7hcxmp2l0wn8r2ecjenwas6czrap is just coping because for some reason can't comprehend transitional periods, thinks in low timeframes (a side effect of fiat thinking) & doesn't understand that this is happening:
All value is relative. I see you use the word "speculative" derrogatory, but this is the essence of the market - everyone perceives prices differently.
Buying and holding for the purpose of having more fiat (current MoE) in the future is speculation. Nothing wrong with this practice.
OGs know to stack sats - fiat price doesn't mather as it will only go up, unless ofc something monumental disrupts the current order.
there's nothing wrong with pure speculation
as you say
but theres a problem when we conflate *perceived value
with value
That's the poimt - there's no such thing as absolute value. It's all relative/perceived.
A (free) market to establish prices works only because you have many who price a given good at the margin, not because *everyone* agrees this price reflects its value. Some (or many, who knows) probably still wait for Bitcoin to fall to sub 40$k while others think it's cheap at a hundred.
i completely agree with that.
but let me ask what happens in a highly inflationary environment when Cantillionaires get a shitton of new money?
do you agree Nvidia is accurately valued?
what about Tesla?
the new money seeks the highest-perceived returns. it creates an overbought condition over the entire upper layer of the economy. eventually that new money decide to exit and crashes the market.
in such a situation people arent aware the price they see in the chart
isnt the "honest price" or real social utility of the item.
its because a bunch of degen gamblers think itll go higher.
i think not understanding that is a problem.
you can call it the free market functioning if you like,
and you're not technically wrong.
but prices are fucked on a fiat standard.
There's no accurate price/value, only market price. I see your point though - the currencies are worthless essentially.
How do you know you are not already in a highly inflational environment? Hyperinflation on a fiat standard is more common than some might think.
I do think we are already in a highly inflationary environment.
it's a large part of why the prices are "distorted" by gambling.
when prices no longer represent the collectively perceived utility of the thing
but instead show the expectation the thing can be flipped for more purchasing power later that a tulip mania.
is the price "wrong?"
no.
but it doesn't mean what most people think it means.
"when prices no longer represent the collectively perceived utility of the thing
but instead show the expectation the thing can be flipped for more purchasing power later..."
Textbook speculation. This is part of the utility of investable goods and a feature of every scarce resource.
it is PART of it, yes.
but when most of the money in a commodity is there for speculation
its a speculative bubble and prices are distorted.
its another problem with a fiat standard.
Be critical here. What's more likely?:
A) #Bitcoin maxis are all retarded & fiat-educated people are right?
B) Fiat-educated people are all retarded & #BTC maxis are right?
Consider what incentives there are from an educational, systemic & institutional perspective for each. 💁♂️
Do TradEd systems promote independence? No, they promote conformation. Do they promote critical thinking? No, they promote regurgitation-based programming. Do they promote meritocracy? No they promote elitism & nepotism. Do they promote individualism? No, they promote group-think. Do they promote freedom? No, they promote lifetime subjugation to hierarchy. Do they promote fiscal responsibility? No, they put you in lifetime student debt for the promise of a piece of paper at the end. (This list could go on forever, so I'll just stop here & you can continue if you like…) 🤮
Bitcoin education is literally the inverse to fiat education (which is a wonderful byproduct of understanding the network). 🤙
So ask yourself… who REALLY knows more? 👀
Homie is just salty because he was led to #Monero / #XMR by his fiat education, so he needs other people to help save his sinking bags. 🤷♂️
All this energy misallocation when all he has to do is learn to invert a fucking fraction (an impossible feat for most fiat brains):
I can't stop wondering why it works so well.
Even people way more intelligent than me have a hard time seeing or accepting it.
I have two points in time I always go back to.
That one 'strange' sociology teacher when I was ~16 years old who told us how loans and mortgages work and how insane that was.
And a few years later during economics where a teacher was encouraging me when I tried to counter every policy of the Keynesian theory, arguing with the exact opposite effect that could happen.
We made a game out of it, and during the examen I answered every question two fold and those were opposite of each other, I got a maximum score.
The financial crisis finally made me conclude every one was 'crazy' and that I wanted out.
#Bitcoin made everything come together and made it possible to step out.
THIS!!! 💁♂️
I'm TERRIFIED of people that just "fit" into the system because I know for a fact that they have been stripped of every natural human instinct. 🤙
Bitcoin maxis are a reactionary cult
just as incapable of critical thinking as MMT dogmatists.
and unfortunately
you prove my point with your technically illiterate and unrepentantly unexamined regurgitation of Saifedean doctrine.
If I may provide a more positive interpretation of your comment: This is a Feature not a Bug. Bitcoin is winning the more Bitcoiners look and sound like the general population.
hard disagree.
the general population are drooling state sycophants.
i mean, you're not wrong.
over the last several years maxis are trending more and more towards drooling state sycophants.
thats really not a good thing for human freedom.
I can see your point under certain conditions. By winning, I mean it becomes a global reserve currency and prevalent as a medium of exchange. For that to happen, it needs to be for everyone, and OG’s like us feel less welcome in bigger future Bitcoin circles.
BUT the lack of self custody by those who have any nexus with Bitcoin is a sorry state. Adoption is more about NgU, to your original point, than about self determination and individual freedom. I am with you on those values and am disappointed how little they seemingly mean for most people, who elect not to use this as an opportunity to voice their shared values because of a little bit of friction in the onramp process.
If you disagree with me, then fade me in the orderbooks, bitch. 💁♂️
I'll keep buying #Bitcoin / #BTC & you keep buying your li'l proof-of-poverty tokens. 🤝
Enjoy watching #Monero / #XMR perpetually trend to zero. 🤙
um
dude?
ive been buying BTC since 2015.
and monero is starting to run towards it ATH.
you continue to prove my point.
just another cultist without critical thinking skills.
Only an actual brainwashed cult member would look at this chart & say, "Yeah, this is bullish". 🤙
and?
congratulations i guess.
VCs and degens are gambling on Bitcoin.
Monero bros dgaf.
enjoy your fiat.
fiat charts, fiat thinking.
>positive since launch
>beginning of upward trend
>preferred by black markets
>general adopting picking up steam
lower your time preference. study Hoppe.
Hell if I know. The first other Bitcoiner I had ever met called me a psycho and autist. Maybe everyone is retarded and only some people have self awareness?
The tradfi system is designed to reward those who followed the rules. It’s by far the best return an individual or a community can get on their money, full stop. Yes it is also designed to instill conformity. It is supposed to make life easy- the payout-to-work ratio for a college grad was traditionally fucking incredible. Imagine earning a shit load of money without having to think too critically. Thinking is really hard! Only a fool would want to HAVE to think hard to earn a better life. The same could be argued for Bitcoiners, too, though: all you have to do is buy more bitcoin. It’s fucking simple. Where is the reward for thinking, when thinking is a lot of work and the conclusion is always the same: buy more bitcoin.
The act of buying #Bitcoin is indeed simple. 💁♂️
Understanding WHY you should buy #BTC is where the work/thinking occurs; the time/energy expenditure is front-loaded & you are paid over the course of time for doing that work. 🤙
nostr:note12acrktner7qftvhwnrnsgket3cgywk8dkrkmyfaq6rrlts2vfh5s33l9gh