8. Maybe you got confused by Twitter algos and bots. Nostr is real.
Don’t forget to add that innovation significantly improves productivity, on the scale of at least 6% annually. So they are stealing at least 8%. And then, due to misallocation of capital, inventions are stifled. Companies like Boeing would no longer exist. We wouldn’t be flying around in 1940s technology. Etc etc.
It is not the blockchain, however. It is Bitcoin and its attributes. Referring to Bitcoin as Blockchains is the first step in misleading and confusing people.
If you also adjust for productivity increase through technology and innovation, which tag at 6 annually, and which are deflationary, we should all be living in abundance right now.
The total supply (denominator) is fixed, non inflationary at 21 million. As I mentioned earlier, you are confusing concepts. Are you also subtracting HODLing from circulating supply? Over what time? What about exchanging Bitcoin for fiat for USD vs for goods and services. Nevertheless, all of these, should it be Fees, Mining rewards held back, liquidity, time, velocity etc are all in the numerator. The total supply (denominator) is programmatically fixed at 21 million. Only if we increase total supply do we have inflation.
Oh boy. The fixed supply is 21 million (denominator). The current issuance is 19.4 million (numerator). Between the first and second paragraph you flip them. You trying to confuse people on purpose?
It’s important to get this right, as the whole point of Bitcoin is absolute scarcity. It has no inflation. If we confuse people with false fiat narratives, it hurts adoption.
Circulation is in the numerator. Inflation denominator.
Inflation, by definition, is addition to the base, the denominator. It’s programmatically fixed at 21 million. You’re confusing concepts, not sure which one in your case, of fees, rewards, liquidity, velocity etc
0/21 million = 0 rate of inflation. It’s always 21 million. Absolute scarcity is the point.
Bitcoin doesn’t have inflation. There are 21 million Bitcoin. Everyone knows it. To ignore it wouldn’t make sense. You can do the math: value/21 million. Think of the miner rewards as a set-aside. Like a HODLer for rewards. Bitcoin can be in many states. But there are only 21 million.
… and thus there will be consequences for bad behavior. Individually, for communities and yes, businesses.
Of course, Winston didn’t make it 😳 “But it was all right, everything was all right, the struggle was finished. He had won the victory over himself…he loved big brother”
The fact that so many influencers who are vocal anti-CBDC immediately complied with twitter identity verification and continue to defend their decision is an incredibly interesting case study on the human condition.
Important to learn from all of this so we can better prepare for what comes next.
https://video.twimg.com/ext_tw_video/1683177394532655105/pu/vid/1240x700/Q_5aqzQRiV1PfKBU.mp4
I’m equally disgusted by the sheeple as I am with the tyrants. That covers 99.5% of the population.
“A far bigger risk to #bitcoin (than 51% attacks) is that the public using it won’t understand, won’t care, and won’t protect the decentralization properties that make it valuable over centralized alternatives in the first place… a risk we can see playing out constantly in the billion dollar market caps of totally centralized (blockchain) systems. The ability demonstrated by systems with fake decentralization to arbitrarily change the rules out from under users is far more concerning than the risk that an expensive attack could allow some theft in the case of overly-eager finalized transactions.”
Greg Maxwell, former nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n CTO
#worldcoin is one such system of “fake decentralization”
- don’t underestimate how dangerous ignorant people can be
💯, and why would they care? Most people live paycheck to paycheck. Most people have debt. That’s why Bitcoin adaption is so slow. Based on their time horizon, Bitcoin doesn’t help them. Certainly not unless it would quickly increase in purchasing power. And that relies on institutional investors, who are still trying to save the fiat system. And yes, the risk of failure is high. Between the sheeple and the tyrants, that covers 99.5% of the population. Maybe we need to wait for one of the institutions to blink and break rank?
The one thing Orwell had wrong is that Corporations, Wall Street, the media and the government are collectively Big Brother vs a central entity. More ala Huxley.
They can’t, because they’d self destruct, whether or not they are first or last. They’ll do whatever it takes to fight it.
