You sound like a Keynesian. I'll save my money if I want to, and spend it when I need to. The free market "economy" is an abstraction that emerges from individuals making decisionns that are best *for themselfves*. Not listening to others who presume to know their circumstances better than they do.

Heres one for the hording NGU types.

TL;DR if we want Bitcoin to really suceed we need to be using it as money. Not hording it. This is partly why I dont give a shit about corpos "having Bitcoin on the balance sheet". It means jack shit if they dont use it. This dosent mean one can't save in Bitcoin but we also cant hord it ad infinitum.

"Lunar Fallacy

There is a theory that hoarding bitcoin guarantees to perpetual profit. The theory is based on the following economic laws.

• One money is better than two (Metcalfe’s Law)

• Better money displaces other monies (Thiers’ Law)

• At fixed supply, price rises with demand (Law of Supply and Demand)

• Potential increase in demand is unbounded (trade is positive sum)

Hoarding is purely speculative, with all returns constituting profit or loss. The money is not lent to another for interest and so is always available for exchange, a benefit that offsets interest forgone.

A corollary to the theory is that no investment in production is required to profit from it. Capital is required for all production. Lenders (investors) earn interest in exchange for time without their capital. Production is the source of trade and therefore all economic activity results from investment. A hoard is defined by its lack of consumption in production. If all people hoarded their capital, there would be nothing to trade and therefore no demand for the money

It seems that the theory is irrational, supporting the idea that Bitcoin is indeed Magic Internet Money. When a theory results in a contradiction, the theory is flawed. A fixed supply market money can only increase in purchasing power due to:

1. economic growth – creating more demand for use of the money is exchange

2. monetization – people transferring demand from another money

Yet economic growth is strictly the result of investment. Growth is necessarily less than the return on investment (interest), and full hoarding is no investment at all. And of course monetization has a limit. Finally, the theory fails to recognize the stability property of Bitcoin. For these reasons the theory is invalid"

#bookstr #Cryptoeconomics

remember when ya'll made fun of me for saying mempools will never clear again - good times

The median age of Senate is 65.3 and 94% of #bitcoin holders are under 40 years old. Do the math.

Only last month I learned that you can do face yoga exercises that will tone up your face the same way you tone up your body, and it’s effective.

Why does no one promote that? 💉

Have you tried watching SC1?

I am curious about it, may try if it's easy to try, but I reject the idea that we need other games in the world.

It was remastered, but with old graphics.

No, only SC1. I reject all other games.

Organizer here, we are still working on this internally but you can buy bitcoin manually

Please send email to halo(at)indonesiabitcoinconference(dot)com

Question for you all

Which countries does strike work in now?

📢 Strike of Jack Mallers goes global bringing #bitcoin #lightning to more than 65 countries! ⚡️⚡️⚡️

Forgot where I read it but mathematically, the 12 words offers same security as 24.

As the velocity of money increases this money goes through the economy faster making the money supply feel larger. While there is a finite number of Bitcoin that can ever be mined there are an infinite number of transactions possible. The value of BTC absolutely ceases to exist if it’s not being used.

GM time to bump my mempool up again. FFS.

👻