Replying to Avatar Jeff Booth

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.
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prepare to jibe 8mo ago đź’¬ 1

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?

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Jeff Booth 8mo ago đź’¬ 1

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)

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prepare to jibe 8mo ago

Thank you. I will think about this for a while.