There is an argument to be made that the fear of an over-leveraged world economy is overrated. While it is indeed true that the global debt-to-gdp ratio is higher than ever - it doesn’t mean that it is an entirely bad thing. One could argue that debt is just another word for trust. After all - to issue debt, you have to trust your counterparty. In other words - we are at record debt levels but also record trust levels. In a way, it is a natural thing to see with the rise of the internet. There is more information available than ever before, thus we can make more well-informed decisions on important mattters. It also leads to a situation where we can afford to trust others, since we generally speaking have more knowledge available. Is it a bad thing that we have more trust among individuals and businesses than ever before?
Perhaps it would better be called ”seemingly legitimate reasoning”
I think there are a few legitimate reasons to why a lot of people end up in ”crypto”.
First, they look at Bitcoin primarily as a speculative investment asset (rather than a new monetary system - an electronic peer-to-peer cash system as it is intended to be), thus applying the traditional investing wisdom number 1:
”diversify your portfolio”
So they end up diversifying, and building up a portfolio of differenent cryptocurrencies - all in order to engage in what they perceive as proper risk management.
Secondly, a lot of people just assume that the future digital economy will mimic the traditional economy - they assume it will be a world full of different currencies for different countries and for different use cases. And that bitcoin will just be part of the puzzle.
Compare the internet of 1992 to 2002. Ease of use typically goes hand in hand with mass adoption
There are lots of bitcoiners who are single issue voters - all they want is a bitcoin friendly candidate. Preferably one who is distinguishing bitcoin from other crypto tokens.
nostr:npub1235sxry2uf3070w4p7xlxwl7822nsfy6k3mpvmvchlacgcw28c0qm35y3k :
I've been drying all my clothes like this for the past year using the heat from a #Bitcoin miner. 🔥 ⛏️ 👕
It ain't much but it's 10,000X better than using a regular home dryer that doesn't pay you back a single penny.
This is a glimpse of the future, I think
I bet miners are happy right now
The power of scarcity
Yeah I know what you mean
Being suspended on twitter is a badge of honor
This too shall pass
No ragrets
📍Resia - Italy 🇮🇹 Did you know❓
The bell tower emerging from the waters of Lake Resia, Italy, is a historical monument dating back to the 14th century. Located in Alto Adige, in the Trentino-Alto Adige region, the bell tower was originally situated in the village of Curon, which no longer exists today.
In the 1950s, it was decided to build a dam to create an artificial lake, Lake Resia, which would power a hydroelectric plant. However, to achieve this, the village of Curon and its houses were flooded.
The bell tower, which was part of the village church, was the only building to be preserved. Before the valley was flooded, the bell tower was dismantled and rebuilt on the shore of the lake. Today, the bell tower has become an icon of the area and a tourist attraction, and has been reused as a bell tower for the new church.
https://i.imgur.com/LaBu6tk.mp4
#nostr #nostrich #nostriches #nostrichs #amethyst #plebs #pleb #plebchain #coffee #coffeechain
#tesori italiani #lago #lagodiresia #curon #curonvenosta #trentinoaltoadige #altoadige #südtirol #graun #lake #resia #reschensee #belltower #campanile
Peculiar tower in a peculiar (and beautiful) region - South Tirol. At times, difficult to tell if you are in Italy, in Germany or in Austria.
In the 1400s and 1500s, independent artists such as authors and painters often relied on the patronage system to finance their work. This system involved securing the support of a wealthy individual, usually a noble or a member of the clergy, who would provide financial backing for the artist in exchange for the artist's services.
In the future - the same dynamics might once again become the norm. Perhaps systems such as Patreon is foreshadowing what is to come. Wealthy bitcoiners could become the future patronage.
Will there likely be fractional reserve banking present in a future landscape of Lightning network centered banking?
The way electricity in our grids is produced and distributed is currently very centralized. This will likely evolve. Solar panels and batteries are both trending down in price and over time, more single family housing will have these types of systems installed - making the production of electricity much more decentralized. From this perspective, it would be a perfectly natural evolution to see small scale BTC miners becoming a default part of many HVAC systems. Miners would have lots of benefits for consumers, both by utilizing excess heat into the heating systems but also with utilizing the daily surplus solar energy which could be monetized more efficiently than today. It would also lessen the need to invest lots of money in batteries, since you could simply buy cheap electricity from the grid during the night and mine bitcoin with surplus electricity during the day.
The way electricity in our grids is produced and distributed is currently very centralized. This will likely evolve. Solar panels and batteries are both trending down in price and over time, more single family housing will have these types of systems installed - making the production of electricity much more decentralized. From this perspective, it would be a perfectly natural evolution to see small scale BTC miners becoming a default part of many HVAC systems. Miners would have lots of benefits for consumers, both by utilizing excess heat into the heating systems but also with utilizing the daily surplus solar energy which could be monetized more efficiently than today. It would also lessen the need to invest lots of money in batteries, since you could simply buy cheap electricity from the grid during the night and mine bitcoin with surplus electricity during the day.