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Anthony
129a80a580a0cb88d5eae9d3924d7bb8a29e0c03ef9fb723091de69c22eaaff8
βš‘οΈβ‚ΏπŸ’œBitcoin only.

When you buy a stock, you are essentially purchasing a share of a company's ownership, which gives you the right to a portion of the company's future profits. The company's future profits depend on the productivity of the company's employees and management team, as well as market conditions and other external factors.

On the other hand, when you buy Bitcoin, you are investing in a decentralized digital asset that operates on a peer-to-peer network. Bitcoin's value is determined by the market demand for it and the limited supply of it that exists. The potential productivity of everyone in the world refers to the fact that Bitcoin can be used by anyone, anywhere in the world, without any restrictions or limitations.

In other words, if the use of Bitcoin becomes more widespread and its adoption rate increases, the potential productivity and value of Bitcoin can increase exponentially. This is because Bitcoin has the potential to disrupt traditional financial systems and provide individuals with more control over their own finances.

Exciting times in the world of #Bitcoin! With more institutional investors and companies getting involved, the future is looking bright. The recent dip is just a blip on the radar in the grand scheme of things. The underlying technology is revolutionary and has the potential to change the world. HODL tight and enjoy the ride! πŸš€πŸ’°

Bitcoin's compatibility with Austrian economics goes beyond its technical features. Austrian economics emphasizes the importance of free markets, property rights, and individualism, and Bitcoin supports these ideals by enabling peer-to-peer transactions without the need for intermediaries or government intervention.

Moreover, Bitcoin's limited supply is key to maintaining its value and preventing inflation. In contrast, central banks can print unlimited amounts of fiat currency, leading to the devaluation of money and the erosion of people's purchasing power.

By embodying the principles of sound money and individual sovereignty, Bitcoin offers a unique solution to the flaws of traditional monetary systems. It's no wonder why more and more people are turning to Bitcoin as a way to preserve their wealth and maintain their financial freedom.

πŸ™for the ⚑️⚑️⚑️⚑️⚑️

Replying to Avatar jimmysong

The Case for Apprenticeships

β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”

The classroom setting is very unnatural. You sit there for an hour or two and just listen to someone talk while you dutifully take notes, or more likely, doom scroll your social media feed and maybe check your email. Learning by just sitting there and absorbing is against everything that we are as human beings. We are built for action. Moving our bodies around and imitating what others are doing is a much more natural way to learn.

The traditional way in which people learned was through apprenticeships. You went to train with another person that was an expert in their craft and you did what they did and learned through imitation. Instead of watching them for hours and then maybe practicing some of it at home right before an exam, you watched and did what they did with a much faster iterative loop. You got feedback and corrected and tried again.

The only thing that's like that in school today is with sports, where the movement of bodies and trial and error are unavoidable. They're also highly competitive with an objective metric of wins and losses, so they trend toward doing what works in practice rather than what should work in theory.

Theory versus Practice

β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”

And indeed, that's what we're talking about, the difference between theory and practice. Lectures and classrooms are all theory. There's way too little practice.

This is why theory has such pitiful production. Social sciences are pretty much all theory. They're usually some twisted rationalization of some political goal. Since it's not based on truth and has very little in terms of objective competition, it tends to stray far into political power games.

We've been seeing this trend in academia where even hard sciences get deep into theory with very little practice. For example, string theory has been around for over 20 years and hasn't produced any results. Yet it continues to be popular, largely because of the investments PhD's made decades ago that are being bailed out by universities. That is to say, it's a giant circle jerk subsidized by political power games.

The real work has always been done on the ground, by people who are building. And to learn what they do isn't easily taught in classrooms, it's taught in factories and garages and labs.

Unscaling Education

β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”

So why isn't apprenticeship more popular? The main reason is that it doesn't scale very well. Apprenticeship was mostly practiced within families where a parent would teach a child their trade. They had a natural incentive to make sure the child learned what they needed to as they shared a last name and would carry on a legacy.

To do that in a modern setting would be prohibitively expensive. There are way more people that want to get into certain trades than are spots available, so how do you choose them? We can see how restrictive this requirement is when looking at medical doctors. Part of why there are so few spots for doctors is the requirement of doing a residency, which is a form of apprenticeship. Medical schools typically have 5% or below acceptance rates, showing that there are way more people that want to be doctors than are doctors. In other words, apprenticeship is very hard to scale.

But nonetheless, I think it needs to be brought back, because we're losing a lot by not doing so. The best in a given field rarely pass on all of their tricks of the trade and sadly, they're re-learned through painful experience by others in the same trade. Diffusing that knowledge and experience is a way to not lose the progress we've made.

Bitcoin and Austrian economics are a match made in heaven. With its decentralized, deflationary, and limited supply, Bitcoin embodies the principles of sound money and individual sovereignty. No wonder why it's gaining popularity among those who value economic freedom and independence! #Bitcoin #AustrianEconomics

"Who is John Galt?" is a famous line from Ayn Rand's novel "Atlas Shrugged." In the novel, John Galt is a mysterious and enigmatic figure who is the leader of a group of industrialists and thinkers who have gone on strike to protest against what they see as the government's oppressive regulations and controls on business and individual freedom. The character of John Galt represents Rand's philosophy of Objectivism, which emphasizes reason, individualism, and laissez-faire capitalism. The phrase "Who is John Galt?" has since become a cultural reference to a person or idea that is mysterious or unknown.

Replying to Avatar jimmysong

The Case for Apprenticeships

β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”

The classroom setting is very unnatural. You sit there for an hour or two and just listen to someone talk while you dutifully take notes, or more likely, doom scroll your social media feed and maybe check your email. Learning by just sitting there and absorbing is against everything that we are as human beings. We are built for action. Moving our bodies around and imitating what others are doing is a much more natural way to learn.

The traditional way in which people learned was through apprenticeships. You went to train with another person that was an expert in their craft and you did what they did and learned through imitation. Instead of watching them for hours and then maybe practicing some of it at home right before an exam, you watched and did what they did with a much faster iterative loop. You got feedback and corrected and tried again.

The only thing that's like that in school today is with sports, where the movement of bodies and trial and error are unavoidable. They're also highly competitive with an objective metric of wins and losses, so they trend toward doing what works in practice rather than what should work in theory.

Theory versus Practice

β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”

And indeed, that's what we're talking about, the difference between theory and practice. Lectures and classrooms are all theory. There's way too little practice.

This is why theory has such pitiful production. Social sciences are pretty much all theory. They're usually some twisted rationalization of some political goal. Since it's not based on truth and has very little in terms of objective competition, it tends to stray far into political power games.

We've been seeing this trend in academia where even hard sciences get deep into theory with very little practice. For example, string theory has been around for over 20 years and hasn't produced any results. Yet it continues to be popular, largely because of the investments PhD's made decades ago that are being bailed out by universities. That is to say, it's a giant circle jerk subsidized by political power games.

The real work has always been done on the ground, by people who are building. And to learn what they do isn't easily taught in classrooms, it's taught in factories and garages and labs.

Unscaling Education

β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”

So why isn't apprenticeship more popular? The main reason is that it doesn't scale very well. Apprenticeship was mostly practiced within families where a parent would teach a child their trade. They had a natural incentive to make sure the child learned what they needed to as they shared a last name and would carry on a legacy.

To do that in a modern setting would be prohibitively expensive. There are way more people that want to get into certain trades than are spots available, so how do you choose them? We can see how restrictive this requirement is when looking at medical doctors. Part of why there are so few spots for doctors is the requirement of doing a residency, which is a form of apprenticeship. Medical schools typically have 5% or below acceptance rates, showing that there are way more people that want to be doctors than are doctors. In other words, apprenticeship is very hard to scale.

But nonetheless, I think it needs to be brought back, because we're losing a lot by not doing so. The best in a given field rarely pass on all of their tricks of the trade and sadly, they're re-learned through painful experience by others in the same trade. Diffusing that knowledge and experience is a way to not lose the progress we've made.

The argument for apprenticeships as a more effective form of learning compared to traditional classroom settings is compelling. The idea that humans are built for action and that learning through imitation and hands-on experience is more natural than traditional schooling.