Also, apparently #Ocean filters out Bitcoin NFTs, which doesn't stop them (you don't have the right to stop them) but it lowers supply for block space for them probabilistically, disincentivizing them by increasing the price they will have to pay. If you want to exercise your power of choice to not support Bitcoin shitcoins and you are a miner, you can just mine on Ocean.
Everyone wins with the pricing system.
I'm glad he has enough sense to protect his head. That stick taught him to value what's important I guess
Those are just ideologues. There are bitcoin projects, open source software, startup cities with hardworking self-reliant people who will never compromise their freedom, all kinds of good stuff. The technology, the market forces, and the ideas are all there. If we build it, they will come. Freedom beats control every time, if it's available. And it's more available than ever.
Yes, but so is anarchy, moreso than in any recent decade!
I donโt believe money is neutral in an economy, short run or long run. Especially so in the long run if the overall assumption is that prices and wages will โadjustโ to the new monetary level. In the REAL world, not academic economic fantasyland, we all know it takes forever if not at all for prices and wages to adjust, and none of which adjust with any sense of equilibrium, which in itself contributes to calculation and economic uncertainty. So to say money is neutral, in this respect, seems completely fallacious.
https://www.econlib.org/money-multipliers-on-mars/
#bitcoin #BTC #BitcoinOnly #economics #austrians #finance #mining #news #lightning #nostr #liberty #pleb
#NothingButLead #plebchain #mises #rothbard #introductions
It can even be witnessed that in the best case scenario, in which price levels adjusted instantaneously and all in the same proportion to each other as before, the purchasing power of the cash and cash-denominated accounts that people hold is altered by as the inverse of the price change.
So even if wages, profits, and prices increased at the same exact rate and at the same time as the monetary base, everyone holding cash would be poorer by how much cash they held times the inflation rate.
Further, this change in the ratios of what resources people have (specifically monetary purchasing power to all other goods) will require them to purchase a lesser exchange value of goods, and this will also have them reasign their preferences on an individual level. Bith of these effects will alter the demands of every good relative to other goods differentially, including labor and capital.
(In practice, for a variety of reasons discussed in Austrian capital structure theory (which I am only beginning to learn) that have to do with the time of production, the real (purchasing power parity) price for labor is lowered as money is inflated, as compared to the 0% inflation and especially deflationary sound money counterfactual.)
So by simple, super duper simple basic ass logical thought experiments like I just came up with here, the whole concept of inflation distorting neither purchasing power nor relative prices is pretty clearly refuted.
nostr:npub1grk0tx6kqzvp86jvxzqmr8va2f0hdklj2xj6qwymf04z0saxhx8svlelrn (sorry haha) has absolutely no concept of reality, and should be tried in court for negligible stupidity.
Yeah, like Signal.
A man at a manhole. Why am I not surprised?
#Bitcoin #inscriptions and #NFTs are, at least right now, stupid, and yet they are legitimate and legal according to natural law. Don't cry about it like a whiny baby. Let the dickbutt idiots and JPEG chimps get priced out when they realize that it's not worth the money. In reality, inscriptions are going to find very important use cases for those who find it worthwhile to pay a large fee to post info to the blockchain. This will be the ultimate WikiLeaks and immutable filesharing service for when it is extremely important, and we can always just ignore these people and use scaling solutions and proper coin control to keep our transactions cheap and fast.
NFTs might also have other use cases, like verifiable, trustless title of ownership of non-BTC property such as land or company shares, though the Bitcoin blockchain or its L2s may or may not ever become a particularly good base layer for this: this may be more likely to remain a service offered by a central equity exchange like the NASDAQ and a few conpetitors, or by a somewhat decentralized alternative network running on Proof of Work that's intended for title records only and not money. NFTs are shit right now, and proof of stake is a shitcoin. The possibilities for the technology in the future are great, but not a single altcoin out there at the moment is a sound investment, and nothing else is real money like Bitcoin is.
The reason Bitcoin is the only place to confidently put your wealth is that investing is a full-time job, trying to predict minute details about the future. I like to do that kinda thing, hence my predictions about shitcoin innovations becoming less shit in the future - most people would never imagine something so retarded (most people didn't conceive of the computer mouse before it was invented too, or email, or publicly traded shares of a company - all retarded inventions). I like to think that I'm pretty good at understanding the universe and innovating and predicting, but it is quite risky.
Saving money on the other hand is simple AF and basically risk-free: stack sats, learn a little about bitcoin regularly to maintain your stack safely and privately, and stay humble ๐ค๐งก
So do what I do and don't worry about what the free market does: that's the one thing you can trust. And don't do what I do and invest in speculative crap like stocks unless you are simultaneously good at economics and prepared to lose money. I just like that kind of suffering.
Video covering why you shouldn't worry about what the free market does to Bitcoin fees:
I love Bitcoin University.
Duuuuuude I can fanboy over Linus Torvalds now!! lol
