You must be new to Bitcoin

No idea but maybe this wisdom from Gigi below can help with this? Not that I understand it but it sounds terribly profound.

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Oooh 🍬🍭🍫

https://libgen.is/search.php?req=Lyn+Alden+broken+money+&lg_topic=libgen&open=0&view=simple&res=25&phrase=1&column=def

^^ just to convince oneself that it's a pile of crap

I think Venus is in alignment with Jupiter today and therefore there is more Chakra in your lay lines.

Or something like that.

Oh and buy Bitcoin, right?

Christmas came early this year 🎄🎄🎄

Will check this out soon.

But the prices change every day???

Bypassing the intellectual journey sounds like just the right thing to do for someone of your intellectual caliber.

Read "Atlas Shrugged" if you believe real estate is safe.

Skills are your best store of value.

This is cool.

Ah the Horatio Alger of the 21st century.

The success rate of his "4000" start-ups is suspiciously kept in the dark.

If examined under day light it would probably reveal a wasteland of skeletons of those that exhausted themselves trying.

Just one example of many.

I'll feast on your bones when you die.

Here's how that's been going

https://www.history.com/topics/great-depression/great-depression-history

Absolutely correct.

No Bitcoin company is viable and never will be.

As for pegging the Bitcoin price to a dollar value, you don't have a reliable income stream in Bitcoin then. A Bitcoin company is only a Bitcoin company if it earns in Bitcoin and holds it to pay suppliers in Bitcoin later.

Pay and be paid, money goes in circles. However as a business you need to have a somewhat reliable, predictable income stream. If the electricity bill is due in 3 months will you have earned enough to pay it? Like that. You don't have to be a "business", every regular employed Joe has to plan like that.

If you constantly adjust your Bitcoin price to whatever the dollar value demands you can't predict your Bitcoin income well enough. The only option you have then is to immediately convert it to dollars on reception and pay your suppliers in dollar.

But then you're not a Bitcoin business anymore. You're just a dollar business that pretends to be a Bitcoin business as a marketing gimmick. You will hold dollars instead and then it's back to worrying about the stability of the dollar which you wanted to avoid in the first place. 99% of so-called Bitcoin businesses are that. It's make-believe to suck the money out of a few starry eyed and not so clever Bitcoin dreamers.

That's why I keep asking questions like that and usually not getting an answer because the answer would be rather ugly:

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About "too much specialization".

Joseph Tainter has a book on the Collapse of Civilizations. It's hard to deduce, from the rubble of say the Roman Empire or Easter Island, what made them fail but his theory is that there is a recurring theme of too much specialization so you're possibly onto something there.

Gaah. "are content with making a living"

> the capitalist arms race where something seems to come from nothing

The bugs in our system that let some live at other people's expenses (it doesn't come from nothing, the paths are just too convoluted to identify the victims) are very appealing so everyone's pining for it.

Not everyone equally though don't be mistaken. A lot of people, myself included, aren't content with "making a living" and devoting any surplus time and energy to creativity, honing skills, self-realization and the like.

The aggressively capitalistic ones ("look! got me another investment property!!") are usually those that, according to their own self assessment, can't compete on talent and skill and are therefore feeling perennially insecure and desperate.

This includes most Bitcoiners, who, other than Bitcoin, have nothing to talk about. The skilled people, in the other hand, will talk your ear off about their latest creation and what have you. You can usually tell the one from the other in about 30 seconds of conversation only.

jb55 and Semisol are attempting to offer services priced in Bitcoin, and also keep the price in Bitcoin stable.

Further more, these services are somewhat "buy ahead", where you pay now and receive the service later, sometimes even a year later.

That's fair enough, like newspapers will give you a sometimes massive discount if you subscribe for a year ahead because having that money allows them to plan ahead, it's some financial security.

But recently the value of Bitcoin has been going up, and that's been creating the expectation that it'll go up even more. Nothing wrong with that either, if the economy of Bitcoin-priced services is growing against a largely constant money supply that's a fair expectation.

But now you have the deflation trap. jb55's customers were happy to subscribe last month for $5 equivalent but now it's $10 equivalent and they consider dropping.

Semisol would like customers to pay $50 equivalent in advance now for next year's service, but this amount of Bitcoin might be worth $100 or $500 next year, so why spend it now? Better to keep it and spend it next year and get so much more for it.

Small-time Bitcoiners are typically financially stable enough from fiat income that they can afford to just buy Bitcoin and keep it the same way that they could spend it on collecting Beanie Babies to put on a shelf if they wanted to. They don't need to spend it on food or other urgent stuff. So they don't spend.

You don't get an economy going like that.

That's a somewhat metaphorically phrased question. We're architects of our own future.

We can create money that's stable and that avoids lopsided distribution. The 20% that have 80% (how Pareto worded it, in reality it's already much much worse) aren't "blessed" as if it was chance that they have their fortune. It's coded in the algorithm of the system so to speak and we can rewrite the code as we like.

Silvio Gesell's ideas of demurrage are a good start, but of course he lived 100 years ago and didn't have Internet. He thought of reforming the central bank but in his world there would still be a central bank. We can do even better.

The shortcomings of today's fiat system are a result of it being a quasi monopoly. The answer to any monopoly is normally markets and competition, everyone holds each other in check and quality is high and price low. Why don't we have a market of fiat currencies then. We'll hold the one's that have the best reputation for being stable. Stable issuers are rewarded by receiving demurrage fees similar to interest.

This would cause an amount of computational overhead when buying and selling as a multitude of exchange rates will have to be taken account. In Gesell's time this would have been impractical, but my phone now has 100x the power of a Cray-2 supercomputer from 1986 so we're good.

This all is however bad news if you don't have skills. An unskilled person, if they manage to somehow end up on the receiving end of a lopsided distribution, as unlikely as that is, could and will use their position to their advantage and just live at other's expenses.

Any other arrangement like the one I'm proposing above will lead to a competition in skills. Including skills of warfare and the like. These can get very brutal very soon as Earth's resources are becoming scarce and climate change fucks things up.

I think I'm fine with skills and the risk of lopsided distributions causing financial collapse and starvation outweighs everything else. Up to you.