Bruh, arguing a static economic model a la #bitcoin or similar doesn’t solve consumer driven economies, and the interest rate of a consumer driven economy is why there is inflation, since interest devalues money.

And the demonising a democratic government shows how weak the choice of politicians have been.

Now, the idea that a static scarcity would solve people’s problem, rather those early coiners is a bit of a boiler room arguments and doesn’t really work.

A pyramid scheme doesn’t serve the late generation.

This again because the core value of the current bitcoin pyramid scheme is the fiat gone into it, and sinks when the fiat is pulled out.

You can’t trust freedom when it’s not in your hands friend.

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Bitcoin changes incentives and time preference.

Fiat inflation drives the consumption that chains us.

Perhaps we don't have to be focused on being one of the largest consumers. 🤷

Yet, bitcoin doesn’t really have any intrinsic value of its own but the fiat it inherits along with the consumerisms flaws.

But hey, who doesn’t want to be mothering wars and other suffering since most of the governments invested their darkness into it to avoid people’s questions.

🔪

This is so retarded it hurts.

Sounds about right

😄

If you describe Bitcoin as a pyramid scheme then you no nothing at all substantial about it, or you have no idea what a pyramid scheme is

It per definition, it is, just like any other form of pooling.

Remember time share?

Then this reminds me of the Egyptians and the actual pyramids, hence the word.

The Egyptians believed that if they would build something so heavy, it would simply overcome gravity and fall into the heavens.

Doesn’t by any means discredit the engineering marvel yet standing today next to that pussy cat.

Calls Bitcoin a pyramid scheme.

Has Lightning Tips enabled.

Indeed

Guilty as charged.

This is how all property works, the more scarce, the more long term holders benefit over newcomers.

In fact this is also how all currencies work.

The longer I'm holding a currency & recieving a return the more currency I'm going to have compared to newcomers.

The beauty of Bitcoin is my currency probably won't make me a return of more currency just because I'm holding it - rather I will have to continue to trade goods & services for more coins.

How much nonsense can you fit in one note?

Im holding it? Sounds like an ass beating around the bush there friend.

How do you own bitcoin?

Some bank or exchange?!

Mined? With what value?

🤭

And you’re telling that just because currencies of modern economic is flawed, it’s the way it supposed to be?

See the argument is not against bitcoin or any other currency, but the argument is against inheritance of flaws when refactoring to a digital asset.

The only thing that makes the difference is that Uncle Sam can’t reach it as easily, but that’s about it.

Pyramid schemes evangelists as well, but doesn’t really serve all, does it?

With this said, keeping Uncle Sam on a short leash does have its own benefits, but hardly an economic such, not when mothering somebodies loss to make a gain, as a scarce commodity makes.

The crazy thing is the equating of saving as *taking something from someone else* - when it’s the perfect opposite. Saving literally means to NOT consume resources, and leave what you produce in the economy for OTHER people.

You can always know which is the more honest route by how difficult it is. Saving is hard AF, spending is goddamn easy. It’s easy as shit to get what you want right this instant. It’s hard to turn away from those things, to buy the frugal option, to avoid the frivolous expenditures so you can have something for down the road.

And not consuming is literally the only means by which we can grow capital. Its axiomatic.

Oh no?

Then why does the value sink when someone cashed out?

Who’s paying for that difference?

When someone sells a good, it’s price will fall according to its bid.

Is this an honest question because this could not be a more universal and utterly basic economic principle.

Not quite sure whether the demand and supply argument is valid when a scarce resource.

In regards of basic economics, consumerism is not a valid universal model with spending to be the primary measurement of productivity.

Now, again, we are not discussing the opportunities to make good money by trading bitcoins or any other market dependent currency, to be ahead of the curve, head to the gourd and all that jazz, however, that could be said about any currency or commodity, wouldn’t you agree?

In grand scheme of things, same could be said about other market speculative investments, however, unless a currency is creating the value, I’m afraid the general dynamic of needing to consume, or needing more people to invest in bitcoin for its value to rise. Is not sufficient to serve the interests of people.