The mainstream pushes the absurd notion that people who have earned value and want to keep it, are a detriment to society, but counterfeiters who contribute nothing and buy up all of our resources, are doing a noble deed by consuming everything on our behalf & protecting us from the dangerous, everyday prudent saver.
#fiat is such an obvious scam when you break it down to its core concepts.
Man it is WILD.
after 9/11 they told us to shop
And then those same people use every psycological incentive and behavioural manipulation to get people to spend their money on things they don't need.
You and nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy nailing this topic today! π₯ https://damus.io/note1jh00xummx0699zazuun4etwppuvzpjccszgek7t6w3sq0k5gc33qktucrj
lol, today's bent is arriving in audio shortly. π€£
Or should we say βSaving is Theftβ? 
Iβve earned value and am definitely a detriment to society.
But I make people laugh sometimes!
Hi there!
I would like to transcribe and translate in Italian the episode "Guy's Take_070 - But Deflation is Bad". Of course only with your permission and with full credits!
Of course! Would be honored π«‘
Welcome to Clown World, where the truth is a lie and the food is poison.
One more time for the people in the back!
Ok... hanging around here with all the Bitcoiners, I get why we would want our money to hold its value. It represents the work you put into the economy. The value you have produced, right?
But what is the reason it should grow over time? The value of the work I did yesterday isn't more valuable today, so why should my money, which is supposed to represent the value of my work, go up in value?
From my basic understanding, it shouldnβt grow over time. Itβs the bonus built into bitcoin, rewarding the early adopters so that thereβs enough incentive to keep the network growing.
When thereβs only a certain amount of bitcoins, the value has no choice but to go up because thereβs a continuously growing demand, with no increasing supply.
So, theoretically, after everyone is using Bitcoin as money, when I earn money through work, and save it for a year, it should be able to buy me the same amount of stuff as when I first put it in savings?
I think thatβs the idea, from 10-1000 years from now you would have the same amount of value.
But since there canβt be more bitcoin, and bitcoin is lost every year through people losing their keys, then the value should still increase?
I think nostr:npub1ajv7m32k0cpgzha32qszsh304qusjvwwmavus0ttktzldms4xzusuftppj and nostr:npub1w4swqedal6gcw23ndd93tkkdy3zj2l6zjdjvzrhu8rnw0k8lc8lswzprhz have the right of it. You'll still be able to buy more stuff with the same amount of Bitcoin in the future, first because technology will improve making it possible to make more stuff with less work, and second because saving your money means there's less demand on the stuff that's already been made.
Great questions!
Actually, nostr:npub1zcjv4t06jm6tk84nypk8g7q6z8jsra8u8q4kprv08krcpvmskzwqvwam8a, the bitcoin you work for and save will continue to be able to buy *more and more* because not only does bitcoin--the first truly "honest money" that can't be arbitrarily inflated--not only will it save the value of your time and work, but the value of all the work, all the innovation, all the invention and improvement in everything that human ingenuity is able to produce; ALL of that value continually accrues to bitcoin.
As things are presently, *most* of the value of our work is being stolen by the gangs of thugs we call "government" or "the state." But under a bitcoin standard, they will no longer be able to directly tax or inflate our value away. This has been hidden from the understanding of most people, and will become obvious over time.π
If everyone is working and providing value to the economy, the economy grows. Money is worth more because it represents more work. It's the opposite of what we have now. If we're taking the easy way out to create more money without putting in the work, then the value goes down. And if the money is scarce, we can't make more of it, the current supply value goes up as more work is added to the monetary system. Not by adding more money to it, like we do today.
It's simply the way real money works.
If you have real money (bitcoin), as more and more people recognize that it can't be inflated away or stolen, ALL the value in the universe will flow into it.
This is a very good thing for everyone involved, even the very last person to the party. It's unavoidable that early adopters gain some extra benefit, so don't let that slow you down or cause you to feel guilty.
If anything, work harder to bring "ordinary people" on board so the whales don't get the lion's share of the benefit of being early.π
The value of your money stays the same (thatβs what money is), itβs just the value of everything else goes down so long as technology and pop growth expand the amount of stuff in the economy.
Prices are just the ratio of money:stuff
Ok, that makes sense. It's not that my previous work is becoming more valuable so much as it is taking less work to produce the same amount of stuff.
It should. But stuff gets broken from time to time. Crops fail, boats sink, storms wreck stuff, etc.
All prices should trend lower as technology produces more stuff with less input, but insteadβ¦ the worldβs major economies all mass debase their currencies in a race to the bottom, and because their populations are well trained to just suck it up, they do.
Escape to hard money and you are paid both:
i). the growth from technology
ii) the inflation from debasement
It is cheat mode.
Fuck! I never thought of it that way... Things should only get more expensive when some kind of crisis occurs to drastically lower the supply.
Outside of that, things should be getting easier and less expensive to make, so prices should generally always be going down. The fact they aren't is proof that we're having the value of our work drained from us by ever-increasing amounts of money.
FUCK! Why you guys have to make me mad today?
Yeah, Central Banks are really only for fighting wars.
During peacetime a nation should have falling prices, due to tech advancements, no debt and growing currency reserves. A kind of aerobic monetary system. Stable and sustainable.
During wartime, the central bank cuts rates causes an economic boom to win the war burns through all the reserves and runs up a lot of debt, all the be paid back after the war is won. A kind of anaerobic monetary system. Not sustainable.
The problem here is moral hazard, itβs just too tempting to pull the lever and run in war mode.
The West has been in war mode since 2001, pretty much as Bin Laden planned, which is the big tragedy. Now debts are unsustainable and the cost of servicing the national debt in an inflationary environment looks like a major issue in coming years.
Bitcoin allows you to avoid paying the inflation tax and actually collect the inflation tax, whilst also benefiting from technology advancements growing the economic footprint of goods and services that you can buy.
The things we create today enable many more people to create things tomorrow. Building things without consuming anything for yourself leaves real valuable goods available to productive uses that serve others. As the total amount of wealth grows in relation to the total supply of money, the share of what you have earned (without spending it) buys you more. A fixed money supply helps to discourage mindless consunption & encourage extremely efficient use of all available resources. There is a reward of greater purchasing power for all who live frugally.
Holy shit! This blew my mind and makes so much sense! It's not just my work that's valuable to others, but the fact that savings doesn't consume resources unnecessarily is also a benefit to other people, so anyone who saves should be rewarded by their money being able to buy more later, rather than immediately consuming what they can right now.
I hope we live to see this play out. I feel a strange nostalgia for this, even though Iβve never experienced it.
What money r u talking about? Fiat goes down in value due to money printing. If the work youβve done is worth 1 bitcoin yesterday it is still worth 1 bitcoin today, but it will take more fiat to purchase said bitcoin because the fiat is worth less today
Well if the work you did previously earned you 1btc & you kept it then you still have 1btc. But even in a fiat free hyperbitcoinized world, the work you have done previously will earn you less btc in the future because the amount of goods relative to bitcoin will increase forever. Work that produces the same amount will earn you less btc as time progresses because less btc will buy you more.
Total btc = total stuff
Total btc always stays the same & total stuff always grows
Same work produces same stuff
Same stuff = smaller % of total stuff = smaller % of total btc
But most people will have ever increasing access to better tools which will also make them more productive. So similar effort may produce much more stuff.
Yes and no. You will get less bitcoin but it will be worth more. In a fiat free world the more stuff you make the less they will be worth. So stuff gets cheaper over time.
The natural state of mankind is that we inevitably get better and better at creating all the things we create getting more effective and efficient at creation. Therefore creating more and more which in turn drives prices DOWN. this downward price move ( like you see in electronics, cell phones, Tvs etc) helps MORE people afford them AND we can sell more this also means your money can BUY more things. Which by proxy means its getting worth more over time as the increase in productivity creates this DEFLATION.
Now our current currency we have people making more of it which in turn makes the prices of EVERYTHING go UP! ( Electronics have increased at such an exponential rate that they still go DOWN even tho prices of everything else is going up) this creates INFLATION which is essentially government stealing a little bit from every single dollar holder in the world all at once. So you can see how this system is one so entrenched anyone controlling it would never give it up. Its like have an unlimited credit card you NEVER have to pay back.
Yeah, that's crazy! I just never considered that everything else should be getting easier to make and more abundant, and therefore cost less over time. The fact that most things are still getting more expensive due mostly to printing loads and loads of new money is really frustrating!
Yeah grasping the concepts at first is mind blowing youre just like what the actual fuck how come nobody talks about this or teaches us this... then the sick realization sets in that its by design youre left ignorant about these topics for a more sinster and insidious reasoning is at play. They want you sick, they want you poor and they want you a slave forever.
Fuck!!!
So then, Bitcoin is the way out, because it makes money work like it's supposed to? But won't those who get Bitcoin earlier have an unfair advantage, because they will see it grow in value more than those who get in later? Does that create a different set of problems?
There's no such thing as unfair. Life is "unfair" from day 1 of your life. No 2 individuals are created equally ever. This is what creates the beauty of diversity in life. What i think youre really seaching for is equal opportunity than equal outcome. If everyone had equal outcome nobody would ever do anything differently because dping so wouldnt net a different outcome.
In #bitcoin everyone unilaterally has equal access to the system regardless of any arbitrary or subjective measure you can place upon it. #bitcoin doesnt care Who you are where you from what orientation you are what your income is what abilities you have or don't have. It gives everyone the ability to save for the future that they wish to see in the world and nobody can stop them from being able to do so.
Now compare that to the current system where probably a third of the world's population is cut out of the current financial system due to inability to ever Garner any type of wage and ability of the proper credentials Or just flat out ignored because there isn't enough profit for the Central banks to steal from. But when you actually compare the 2 systems 1 is completely Neutral and the other is completely captured and regulated and discriminatory towards huge swaths of individuals
Another thing you might possibly be thinking is that I'll have an unfair advantage in the system that someone else who comes later doesn't have which is untrue because just because I have more Bitcoin than you do doesn't give me any more power over the system than anybody else everyone is equal in the system
Some great discussions here, folks.
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