Replying to Mischa

What I can't understand is why the Austrians think they're even relevant anymore. Von Mises wrote about low entropy economics when Bitcoin is zero entropy.

To assume Bitcoin is an Austrian school device is to assume 60 = infinity.

They are a bit sad and cult like. They're like people who buy a motor car in the 1920's, then never use it because they want to complain about horses all day
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TheBitcoinManual 2y ago

I don't mind the Austrian framework, I think there's a lot there for people to get their heads around how money used to work and to start to question how currency we see today is not money.

I just find it hilarious how these guys pontificating about a life under an Austrian system are all beneficiaries of the fiat system, they're either university professors who never worked in any field or some finance bro who is now magically converted after making bank or getting passed on a promotion and found a niche where he can make money off simps and sponsors

Their writing and podcasts add nothing to the conversation, they're simply there to be a fodder to inject ads or sell products. When was the last time someone was an Austrian and his like yeah when im not promoting this I have a trucking business or Literally anything that produces something of value.

I just find it ironic, they always going on about producing value and adding to the stock so savings can claim against a greater batch of productivity but offer nothing to add to that stock

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StackSats.IO 2y ago

The Austrians you hear about through podcasts aren’t going to be the ones owning trucking companies.. Better question; when was the last time you heard anyone on a podcast who owns a trucking company?

Those that I know IRL are all very successful in business. Some biz owners, some partners, some just wagies but making top coin - they’re adding real value, that’s why they’re successful. Their numbers around Universities are so tiny as to not be worth mentioning so don’t know why you’re bringing professors up.

You’re not going to hear about them because they’re not on podcasts or writing articles, they’re busy making money in the shitty fiat system that they understand better than anyone.

There’s nothing ironic about it, you’ve just got a very weird frame of who these people are, what they do and how they could help.

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McIntosh 2y ago

I am very much an Austrian economist. I also have a “real job” herding about 800 database servers. I absolutely see how my life would be better under sound money. Anyways….we aren’t all nutty professors making money off the largesse of the university system..

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TheBitcoinManual 2y ago

Yeah I get you, I run a business now for 6 years, hardest thing ive ever done, my dads been doing it way longer, (separate business im not involved in) and his coming to the end of his career so as long as his cash flow positive he doesn't care too much

But for someone like me who will have to do this for another 30 years, any retained earnings gets crushed and inflation-adjusted margins can only compensate to a point, so having something I can save in for the long term is important and then I can just focus on giving a quality service to those who want it