AI, Bitcoin, & The Collapse Of The Fiat Economy with nostr:nprofile1qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqgdwaehxw309ahx7uewd3hkcqpqs05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sgew2ua
We discuss:
- AI's Impact on the Economy
- The Illusion Of Prosperity
- Deflation & Abundance
- The Return of Free Markets
Watch it here: https://youtu.be/VRA8VIsO-rQ
Marked for later
Great convo Danny and the legend that is nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpz4mhxue69uhk2er9dchxummnw3ezumrpdejqz9thwden5te0dehhxarjv4kxjar9wvhx7un8evhvq0 šš
Another penny drop with how AI is going to keep causing deflationā¦ āmore productivity for $20 a month and pretty soon it will be freeā every time I watch nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgqgcwaehxw309aex2mrp0yh8xmn0wf6zuum0vd5kzmq3v5m00 something else clicks š !
I do worry the transition is going to be pretty painful though
This is just so on point āš¼š§” Truth bomb
Excellent, as per usual!
I have a wild idea. Please interview Matthew Le Tissier and talk to him about Bitcoin. Peter McCormack interviewed Le Tissier, and they talked about all the bad stuff that has been bothering āLe Godā. They talked a bit about #Bitcoin, and Peter even promised to give him some #sats, but they did not talk about how Bitcoin fixes all the bad things. I think thatās a massive opportunity to orangepill #football fans in the UK. The interview would be a massive hit, even if Le God is not your typical What Bitcoin Did guest. It's one of the most popular interviews on Peterās channel, and I think that itās one of the most popular interviews since he rebranded the channel (about 153k views).
Great one! Further explanations from nostr:nprofile1qqsyw2lflynya6sj2net9a7d9ksvxxw6unlye4jf7ppya9prfh9vl9cpzamhxue69uhkummnw3ezuendwsh8w6t69e3xj7spz3mhxue69uhkummnw3e8xct5wesjumn9wsnw7z99 simply IRL. I definitely will have to re-listen to both soon. Thanks Danny.
nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzrthwden5te0dehhxtnvdakqaktkhj - as a fellow Canadian, hearing that you are working on exiting Canada makes me feel like we really are doomed here in this country. Any words of advice for a Canadian feeling like staying in this country leads down a dark road, but feeling somewhat trapped because we've only just started our Bitcoin journey.
Sent this to my buddy. It really resonated with him. This was a great one. āļø
Sharing this one far and wide with friends. Always appreciate these episodes gentlemen. Thank you nostr:nprofile1qqsd0uazmzmhwseeym3rjhf3txyjapreapc6sq8yq8cy07cg45tlx2cpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qgdwaehxw309a38yc3wd9hj7lhaadh nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpr4mhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet5qyxhwumn8ghj7mn0wvhxcmmvfym9kz ššÆš
Jeff did not seem to answer your question on the consequences for people losing their job to AI.
He circles around it that if everything gets cheaper you need less or nothing.
That maybe true if you have enough bitcoin already but there are only few who do.
And if the few control the AI/robots and your labor does not earn you bitcoin anymore you watch the prices go down in bitcoin terms for others but you are still screwed if output does not get shared.
Plz let me know what I am missing....
As Ai does more of the work, we wonāt have to. Prices over time (in Bitcoin terms) fall in direct proportion to the work removed. We will compete with everyone to provide more value which will drive the process faster - reducing prices (in Bitcoin) faster, decentralizing faster, breaking all monopolies - including the AI monopolies of today (growing in power and influence because of broken money), large government, and structures arising from them today. Giving us more agency, freedom and abundance with each step.
Or - we will give our energy to and measure fromā¦.. a system that coerces, controls, and centralizes by stealing that all of that from you - with everything getting worse from within that system.
The systems are incompatible together. One must consume the other and every single person is making the decision about which one with their time and energy.
The jobs will be gone anyways. The question is have we transferred all of our power to a control system that gives rise to a type of totalitarian control (that you mention) before they doā¦ā¦or break that control structure by building onto bitcoin and ensuring its decentralizing and security.
Hope that helps.
On a bitcoin standard people can thrive from the fruits of the radically free market, as long as they demonstrate creativity and proof of work.
I think in the era of AI, the process of obsoleting redundant work is accelerated, which puts those people in the top ranks that strive to learn every day, coupled with strong work ethics and integrity.
As to the early stackers:
It doesn't matter in the long run how much you stacked early. What matters is if you can really see the world through the lens of bitcoin and understood its implications. And it's never too late.
The idea that "those who have plenty will be given even more" seems like a proof of stake idea from this perspective and doesn't make sense in a system based on proof of work.
I donāt really understand the part that saying we should see the prices āin Bitcoin termsā, while now majority of things are priced in USD? So most people living in countries cannot use bitcoin practically still have to see the USD price of bitcoin to āprice everything in bitcoinā, right? How can people really price everything in bitcoin now?
By making the conversion each time in your head or downloading software that helps you do that. Yes - itās hard to do (at first) but thatās also the unlearning that has to happen to untether one from the control system.
There are also many ways to actually spend BTC in ways you may not see at first- bitrefill on apps like Strike and Iāve been amazed at how many places are open to accepting bitcoin when they learn how much they can save in fees (especially small barbers or fresh produce places/ farmer market type people) it doesnāt happen right away but certain people are open to it when they see the benefit for them
Can you tell me if this is the correct way to look at it:
- government is not efficient
- if we can build without government interference (free market)
- eventually it will lead to abundance
- people in this new system will share the abundance since there is enough anyway (will never happen in current system)
- in the shift to the new system people without bitcoin, AI/robotics and/or added value will be fucked until the shift is complete
Jeff, something Iāve been toying with for ages and canāt figure out:
won't Bitcoin just create new monopolies? Companies like MSTR that bought early will have massive Bitcoin hoards to outspend everyone else, and there'll still be first-mover advantage in every industry. Basically wonāt there just become new monopolies?
