Just another economic good like any other, with the function of acting as an intermediary between an indirect exchange
Only alternative is nostr:npub1864jglrrhv6alguwql9pqtmd5296nww5dpcewapmmcazk8vq4mks0tt2tq, but I don't think they highlight merchants using a particular POS
nostr:nprofile1qqs9xtvrphl7p8qnua0gk9zusft33lqjkqqr7cwkr6g8wusu0lle8jcpzamhxue69uhkummnw3ezuurpwfjhgmeww3hhwmsprpmhxue69uhhqun9d45h2mfwwpexjmtpdshxuet5cfkclk nostr:nprofile1qqsdv8emcke7k3qqaldwv956tstu40ejg663gdsaayuuujs6pknw7jsprpmhxue69uhhqun9d45h2mfwwpexjmtpdshxuet5qyf8wumn8ghj7ur4wfcxcetsv9njuetn05794w Profile search on Primal is better than Twitter.
It's very well executed and just works.
nostr:note1qza6cfyxlca2ltvwyet23ccczgz3r6gg6cdj7cputh8qsspjnucqhpargz Plus the $2T that the Fed owns
This would incentivize irresponsible lending right?
Meaning it would make lenders be less stringent while assessing risk. Borrowers would take on more debt. Lenders end up with like a lot of land.
On a personal note, these LLMs have been incredibly useful for me personally and professionally.
Gotta evolve with the times and be open to learn and pick up new things no matter the age we're at
Someone asks Saifedean at a PFS panel 'what do you think is the best resolution to this violent political conflict?'
He answers 'I think establishment of a system of property rights for everyone somehow', but adds a caveat that it might be unrealistic.
The fact that it actually could be considered unrealistic and even utopian is incredible. It's possibly the most realistic suggestion one can give at any point in time or place for any conflict.
No circuit breakers, price caps, price supports or any other bureacratic interventions. No cap on leverage. No bureaucrat to bribe or lobby. No ability or resources to track every single transaction on and off both the chain and the orderbooks. No way to stop arbitrage. No way to know why, how or when the price does what it does.
Open 24/7/365.
Can be traded against literally anything.
Highly liquid on a few pairs already.
No jurisdictional borders to stop it.
No licenses or permissions required.
A pure, unbridled free market.
What a privilege to bear witness to all this and document it on the open internet.
😂 nostr:note1xftpm5vc8nntgq5r8xr0dy59nws65f2aey05yc9vxk3a8vt3sqlsmsk372
Let's agree to disagree then 🤝
Bitcoin and Liberty are complimentary to each other. Perhaps we can settle on that.
I highly recommend reading this book though:
https://mises.org/library/book/new-liberty-libertarian-manifesto
Its influence and quality is comparable to Saifedean's excellent Bitcoin Standard.
Folks like Murray Rothbard and Hans-Hermann Hoppe have had and continue to have a lot of influence on many, many Bitcoiners. I highly recommend exploring their work, especially if you're someone who likes thinking about what politics, economics and law will look like on a Bitcoin standard. It will be worth your time.
All governments are existential threats to humanity
My whole point was that voting is not going to change anything. It's not the incentive structure of credit based system that won't allow that. It's the incentive structure of democracy itself which is broken. Bitcoin can't fix democracy, because democracy itself is broken.
Let's say you have price controls, monopolies and socialism on a Bitcoin standard. Does that mean price controls, monopolies and socialism will work well? No. The effects and consequences will be the same.
My intention was not to downplay the problems caused by fiat money. It was to point out that the effects and consequences of monopolies will be the same on a sound money standard as much as on a fiat standard.
The government is essentially a terrorial monopoly of violence. It also has a monopoly on other things like legal services, infrastructure provision, defense, roads, courts, radiowaves, etc etc.
A government on a bitcoin standard doesn't change the fact that the government under question is a monopoly.
It will still cut production and provision of its services and raise prices.
Consumers (citizens) will still not have their needs satisfied.
It still won't be able to allocate resources efficiently.
It will still be poorly run.
It will continue to brainwash people and engineer consent.
It will still be open to regulatory capture.
It will continue find ways to to steal people wealth to keep its operations going.
And needing to steal from people, it will continue to find ways to surveil everyone's finances.
The nature of the state is broken. And bitcoin will not fix that. That's my point.
The only fixing it can do will be through abolishing it altogether, not by reforming it or reducing it.
And when abolition happens, the ideas that people hold will determine what comes to replace it. If people only know to live as slaves under a government, then that's what they will go back to and create a cage for themselves all over again.
Slaves have to first believe that they deserve to be free men with free will.
If they understand how free market competition works, what the natural law and natural rights are, what the right method of identifying legal principles are (reason vs observation), understand what causes economic effects (human action), then they'll be in a position to come up with solutions themselves according to their expertise.
Sound money is important. But it's not as important as liberty. It's just a means to achieve ends, and not the end in and of itself.
Btw, so that you get where I'm coming from:
I do hold the view that sound money, especially Bitcoin, can enable more freedom for individuals.
I'm talking of the problems that arise from the monopolistic nature of government and the consequences caused by such a monopoly. Addressing the root cause is what I was doing.
I wasn't being dismissive of Bitcoin's potential impact. You'd have probably noticed that it was a rhetorical statement.
Libertarian ideas are the solution to the problem of government. Spreading them, convincing people of them and being radical in communicating about them.
Technology is neutral by nature. If people who adopt Bitcoin are all statists, then the change they bring about won't look all that different from what we have right now, except that they will be the new batch of cronies.