Bitcoin Ossification Debate with Vijay Boyapati and nostr:npub1su60ga79paqea8kgkp52qeq4eduhtexc957m8utg4704xddprf4szmsu60
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Continuing the Fractional Reserve Debate in Light of Selgin and White's Response
The paradox of "planning" is that it cannot plan, because of the absence of economic calculation. What is called a planned economy is no economy at all. It is just a system of groping about in the dark. There is no question of a rational choice of means for the best possible attainment of the ultimate ends sought. What is called conscious planning is precisely the elimination of conscious purposive action.
- Mises
Statism is the most dangerous religion.
Man will have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.
— Friedrich Hayek
A member of the human race who is completely incapable of understanding the higher productivity of labor performed under a division of labor based on private property is not properly speaking a person… but falls instead into the same moral category as an animal — of either the harmless sort (to be domesticated and employed as a producer or consumer good, or to be enjoyed as a “free good”) or the wild and dangerous one (to be fought as a pest).
- Hans Herman Hoppe
Now the man who seizes another’s property is living in basic contradiction to his own nature as a man. For we have seen that man can only live and prosper by his own production and exchange of products. The aggressor, on the other hand, is not a producer at all but a predator; he lives parasitically off the labor and product of others. Hence, instead of living in accordance with the nature of man, the aggressor is a parasite who feeds unilaterally by exploiting the labor and energy of other men.
- Murray Rothbard
Every fucking time I go drinking with nostr:npub1z4m7gkva6yxgvdyclc7zp0vz4ta0s2d9jh8g83w03tp5vdf3kzdsxana6p, this mf is orange/purple pilling. Every. Fucking. Time.
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We chronically underestimate how much influence for good we can be by simply being better individuals—not pontificating about doing good, but actually being good—and doing it with our own resources, not someone else’s—living it, serving as an inspiration for others.
— Lawrence W. Reed
Bitcoin Audible Read_828 - Orange Pilling Has Stopped Working
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gonna phone a friend re Austrian perspectives on credit nostr:npub1t42gfjzfv74v8xrv65f2lrwd65jr85ysrtdmkkfrvqgcss5r4g0qk487qz
about the UX -- that's what i am waiting on. dont really care how its implemented (ecash or otherwise) but the experience needs to be as good or better than credit cards
"Mises made a distinction between credit that is backed by savings, and credit that does not have any backing. The first type of credit he labeled commodity credit. The second he labeled circulation credit. It is circulation credit that plays the key role in setting the boom-bust cycle process.
When credit is fully backed by savings — that is, it’s commodity credit — it permits the expansion of tools and machinery. With better infrastructure, it is now possible to produce not only more goods but goods of a better quality. The expansion of real wealth is now possible.
In an unhampered market economy, borrowers are users of savings who make sure that savings are employed in the most efficient way — generating profits. This means that real savings are employed in accordance with consumers’ most important priorities. We can thus see here that as long as banks facilitate commodity credit, they should be regarded as the agents of wealth generation.
In contrast, whenever banks embark on the lending of circulation credit, they in fact become the agents of real wealth destruction.
As opposed to commodity credit, circulation credit is not supported by any real saving. This type of credit is just an empty claim created by banks. In the case of commodity credit, the borrower secures goods that were produced and saved for him."
The State is a gang of thieves writ large - the most immoral, grasping and unscrupulous individuals in any society.
Bitcoin Audible Read_827 - The Conflict of Men's Interests
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The State is the ultimate judge in every case of conflict. There is no appeal beyond its verdicts. If you get into conflicts with the State, with its agents, it is the State and its agents who decide who is right and who is wrong
- Hans Herman Hoppe
Liberty not only means that the individual has both the opportunity and the burden of choice; it also means that he must bear the consequences of his actions. Liberty and responsibility are inseparable.
— Friedrich Hayek
The government treats us like cattle, and we are milked accordingly, and when they're done, they send us to the slaughterhouse.