Avatar
Jacob Drafts
418ca8d5b441c25141e4a5847b936a3c8f41e5fa99ab0c287edb421cb6aad2f6
Carolinian. Former combat engineer. Current before cure tire repairman.

Let’s not compare voters to thieves. At least thieves do their own thieving and take their own risk. Voters vote by secret ballot and have others do their dirty work for them while they talk about how much good they are doing for their fellow man. Something else your typical thief doesn’t do.

I don’t use marijuana but if I did I’d probably be growing my own.

Trucks? I want a Hilux. Just so I can make a technical. Kidding. Kinda. I probably will get a Tacoma though. I’m liking my Corolla so far but I’m waiting until it’s paid off to look at a truck. I’ve got a jeep to but its 30 years old so I’m wanting another vehicle for moving things.

Now I know what to respond with when someone calls me a hippie or a redneck.

Not my best work but it will do.

Flashback to 2020:

Since we are back to a barter economy I decided to do a little business with my dad. He needed some 12 gauge so I took him 250 rounds. He told me to look over what he had and took what I thought was fair. I started eyeing his spam, the deal was amended anything but the spam. I decided on 500 rounds of 9mm fmj. My mother gave me a loaf of the bread she bakes but she wouldn’t hug me since I’ve been going to work. She was on her way to get a haircut.

But wait. There’s more. Call now. Our operators are standing by.

If she doesn’t understand this she is to young.

Replying to Avatar Din Djarin

I listened to the Kieth Weiner POTP interview today, and I feel like he didn’t really give that much to support his argument against ₿itcoin, just that it’s volatile, called it a speculative asset, and that people often justify moves in the market after the fact with some made us stuff that sounds right and may or may not be true.

As far as ₿itcoin and gold being speculative assets, monetary goods always trade at a premium to their utility so I would classify them more as a monetary good more than a speculative asset. As Robbie mentioned though, the reason the ₿itcoin maxis hodl ₿itcoin is because they think that it will eventually become the next global reserve currency since it is the best at the 7 properties of money (Durable, Portable, Fungible, Verifiable, Divisible, Scarce, established history, and censorship-resistant).

As far as if it is money now, the three uses of money (store of value, medium of exchange, and unit of account) can be used to gauge that. Right now it’s only really being used as a store of value, and to a very limited degree a medium of exchange, so it is in the monetization process. It would be expected with any new money (or technology) undergoing monetization that its value would fluctuate a lot because of hype and disillusionment, but that it would eventually stabilize. Monetary transitions typically take several decades so it won’t happen right away, but then everything seems to happen faster in modern history so it might happen sooner than we think.

It’s worth noting that there have been scenarios, usually in countries experiencing very high inflation, where multiple forms of money are used for the different roles. Even right now in America, the dollar by itself isn’t used as a store of value for long periods of time since everyone knows it is losing value, people instead turn to stocks, bonds, real estate, gold, etc., it’s why stocks and real estate trade way above their utility or P/E ratios. Because of inflation, everyone is essentially forced to become an investor!

Which politician was it that called bitcoin a Swiss bank account in your pocket? To me that’s one of the important use cases. I’ve got precious metals and I own real estate. If for any reason I have to do the refugee thing and the power grid is still up somewhere my bitcoin is probably the only thing coming with me. I looked it up. Looks like it was Obama. I gather he thinks it’s a bad thing. Right for the wrong reasons I guess.

Doesn’t exist within 100 miles of a border or port of entry like a harbor or international airport and hasn’t in decades.