Shells didn’t fail, Gold was discovered.
Gold didn’t fail, fiat was purposely designed to capture the energy embedded into it.
Fiat didn’t fail, bitcoin was discovered.
I know what you are saying but let them come. We are faster & brighter, let's show them the meaning of competition.
Truth is not a value, seems obvious and yet we fail every time we put our values to compete against it ==> Respect, compassion, responsibility only work alongside, not in front of.
Hi Jeff, love your work, your profound premise is truly valid ==> real prices fall for all goods and services across time. As for Bitcoin, I feel (think I think) that forces created by big players can only strengthen it, whether they know they are being good or bad, honest or corrupt. Evil, ignorance and fear eventually dies. Just like fire or math, Bitcoin is unstoppable. We didn't win the blocksize wars, someone created a different coin. We didn't lose our keys, or buy an ETF, we effectively donated bitcoin to the peer to peer electronic cash system. We only need one free SAT at light's speed monetary velocity for transactions to keep echoing to eternity.
Since value is subjective, trying to optimize aggregate outcomes is an oxymoron, to put it mildly.
Since it looks we are on our Biblical phase..."Truly I tell you, no prophet is accepted in his hometown"
Beyond the mystical, for me is upmost respect, even when I thought I was agnostic I always respected Him, but not for what He said, but for what He did. All His actions led him towards the cross.
Here is a good translation of a XVI century Spanish poem from an anonymous author, original title "No me mueve mi Dios para quererte"
The author just like Descartes' Meditations, searches for reality as foundation, in his/her case, is not mathematics, but staring to His body at the cross:
"I am not moved, my God, to love you
By the heaven which you've promised.
Nor am I moved by the Hell I fear,
And for that reason, not to offend you.
You move me, Lord! It moves me to see you
Humiliated and nailed to a cross;
It moves me to see your body wounded so;
It moves me to behold your suffering and death.
Ultimately, I am moved by your love,
In such a way that even if there were no heaven, I would love you,
And even if there were no hell, I would fear you.
You need give me nothing for me to love you,
For even if I had no hope for things hoped for,
I would love you the same as I love you now."
Beautiful post, great replies, what a nice group of people. Can't imagine better brothers and sisters to wander the desert with. Come what may you guys... amazing life!
Summoning human power for security purposes is the wishful feature, big brother is the hidden bug. Summoning bitcoin for security purposes is the overt feature, hurling the hammer to the screen is the hidden bug.
Gold is to shells, what bitcoin is to land.
It doesn't, but it's easy to push this agenda by non-market actors while correlating human progress with the increasing number of pieces of paper. The story is much older though, they are just using different means, words, crumbs to give breathing room to Leviathan. Human progress is only dependent on liberty. The best of us gave us a framework to fight back, among many others ==> Descartes ~ 390 y ago, to start I can begin by saying the number 4 is real, Smith ~250 y ago, ok and we are the ones doing this, Say ~200 y ago, yes it's obvious we are all producers creating markets otherwise number 4 is not real, Bastiat ~150 y ago, please remember we have natural rights, Schumpeter ~100 y ago and vision, Nakamoto ~15 y ago, & a Peer-to-Peer Electronic Cash System.
They are crushing the fastball so hard now. On March 3, 2020 the Fed wrote its play in a ~20d act, from first rate cut to full unlimited QE announcement. On August 6, 2024 the BOJ did everything in one fell swoop, obliterating up an coming, want to be, legacy market forces. I know what the best of us would say, we have to let go.
Thank God for BTC.
To run after something you need a mark, to start running you need a vantage point. Mexican, Southeast Asian & Russian elites had a mark, the USD. Their vantage point, they saw the wave comming. Today America has for the first time in ~80 years a mark, BTC. We were all falling, just when you think you are earth, only rocks seem to fall.
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Privacy could be the way to go with the plebs, but CBDCs are actually the last stance for A reserve currency to maintain the grip over capital controls while monetizing its debt, by providing perfect monetary policy transmission, fiscal sustainability and capital flow capabilities. Fancy way of saying maintaining control over raising interest rates, taxes and limiting foreign currency holdings. If A reserve currency is not capable of exerting this type of power, then economic reality will materialize over abstractions and their elites will behave like Mexican elites in 94, Southeast Asian elites in 97, or Russia elites in 98, running after THE reserve currency of the world. I know this one's written like a forecast, just not sure is a history piece. I do know though, BTC plebs are not waiting to find out if they pull this one off, they are already there.
Nashville here I go!!!