Do you know how printing money raises prices?
By wealthy bankers and corporations who get it for nothing buying up all of the critical resources and assets while they’re cheap.
It isn’t trickle down money, it’s trickle up ownership of everything.
#Bitcoin fixes this
#Fiat is slavery
Banks now have a zero reserve requirement. The only thing that controls the expansion of money is the central bank interest rate, for the amount banks need to have on hand (overnight) to clear payments with other banks. A bank can simply lend money into existence; the lower the rate, the more people are willing to borrow to buy that house, and the price goes up. Of course, nothing is for free - all that money that floods the market is based on the future earnings of all those who borrowed to buy today. If the future becomes uncertain, suddenly, today, gets unmanageable, leading to unexpected shocks. That’s what we are waiting for now…
This is true. Though, the bank reserve ratio is still much higher now than when there was a reserve requirement. Due to all the new money printing since the 2008 GFC (let alone 2020 and beyond), bank lending still has a long way to go to get the reserve ratio back down to pre-GFC levels (then, presumably, continue on to a zero ratio). In other words - believe it or not - we haven't even begun to feel the effects of a zero reserve requirement, yet.
Aren't we doing the same with Bitcoin? Why complain when we're the winners?! 🤙
No we aren’t.
From what I understand, those you got into the bitcoin story early have exactly the same competitive advantage.
They do not even slightly. Printing fist is a systemic and permanent imbalance in the game rules. Being early in bitcoin was not only hard af, and not only did almost nobody have the foresight and conviction to hold since then, but it’s no more an advantage than the person who buys Apple when it’s still a massive risk and just an idea. There’s nothing remotely unfair about it and it cannot be made more fair.
It’s the difference between someone who starts a board game and gets pints, before others even come to play the game, while fiat is simply that some people can issue themselves as many points as they like, whenever they like, and buy or own anything they want in the game.
If you think those two things are even remotely the same, you’ve made a very serious error in judgement, imo.
Ok, I hear your point. I was referencing to the fact that bitcoin in its origin was known to a very few percentage of people. I absolutely don't deny visionary element in thia story, belief and vision.
The issue is simply that isn’t literally
Importable for it not to have been. And trust me it wasn’t for lack of Bitcoiners trying. We did everything we could, spending an excruciating amount of time trying to explain it and tell people about it when it was worth nothing but we saw the potential it had to solve an absolutely massive problem!
Sorry if the response came off a little direct, but most of the time when people bring that up they like to scream and complain about “unfairness,” when many many more people did know about it for a very long time, they just ridiculed everyone who used it and called it stupid.
When you tell someone about it, they call you an idiot, then years later it’s worth a lot more, and they call it unfair and say you’ve received unjust return… it can often make one want to punch said person in the face. 🤣
Sigh, first sentence should say *impossible*
In other words, the distribution of information is explicitly a limitation of reality, and we don’t live in a fairy tale. Its most often the people themselves who don’t want to hear it and don’t share it that prevents other from knowing.
In other other words, what you describe is literally axiomatic and unavoidable. There’s no alternative option.
Well said…
I would add that the critics of bitcoin that see early adopters as unjustly wealthier, suffer from a scarcity, vs abundance mindset.
None of this is zero-sum. We are all going to be better off financially, and more free. Also I think this is an artifact of our fiat times, where very wealthy people can live as free men, while the rest of us are constantly under threat by the state, our employer, our neighbors…having means allows you to tell everyone else to fuck off. Having money is just a proxy for level of freedom in todays society.
I don't like slavery.
Brilliantly said. Can't zap you though
not because i don't want to, sth is not working on your side i assume
My Start9 is down for some reason. Lightning wallet stopped working about 48 hours ago while traveling
I hate that! I take it you don’t have some kind of tailscale situation? I’m way too dumb to figure out how to do that, but i thought you weren’t 👀
lol, still just focused on getting Holesail integrated and how it will be used. The problem with if the power blinks or if it goes down though is I can’t log back in to get it back operational. Don’t have an easy solution for that yet. Just assumed it would stay working 🤦🏻♂️
Lol just tried to zap you 🤦♂️
Just unlocked my albyhub back home and it started working again instantly. Good to know how well it responds. Sad that the power blinked out and I lost it for half my trip to Lugano
That’s leftist politics, but for rich people: printing money and giving it away to favored classes
bitcoin is the answer, but i believe we have to use it, not just hold it. As the mining is slowing down,the incentives for the miners to maintain the network is use fees. If all we do is hold it, there is less activitie on the network.
As much as I like to see finicial institutions get into the bitcoin space, the holding of bitcoin isn't helping. We as individuals should be buying using and saving ourselves.
I was going to ask...do people who own bitcoins use it for enjoying life, building physical communitoes, investing in new earth businesses, education., Earth they want to see..or they just hold onto them and wait the raise of value to happen?
The act of savings is a net gain for the economy. Holding bitcoin isn’t taking anything from anyone, quite the opposite, it’s putting real resources into the economy and not taking anything back out.
As far as what bitcoiner do with it, they do everything one would do with money. Because it’s just better money. I live on a bitcoin standard. I get paid in it, I pay people in it, I save it, I spend it. It’s money.
Yes. Savings create a more resilient economy that allocates resources more wisely, which improves productivity and efficiency.
