It would be more important as a means to store value because everything else could depreciate with decreasing cost of production.
Participating in the #zpthon like
No, it would be a great retreat. The great reset is about forcing the footsoldiers to the front line by lowering the standard of living to make wages and industry competitive
Unless there is something in the code that no one has picked up, not much. It would mean that Bitcoin is probably a hedge against the inability of the US to maintain global military dominance. Rather than allow another government to take over as the global currency provider, they could transition to a neutral monetary system and lock in their dominant position.
Yet we all believe our memories on the strength of the belief.
Assurance
Nostr.wine filter will post to all public relays and get posts from public relays, but has filters to stop spam.
#grownostr and #gardening seem to be popular. I forgot to tag it.
My Wife doesn't know it, but I'm slowly turning our garden into a #bitcoin and #nostr theme celebration
That is about my daily average household use
Being on #nostr early means filling your feed with people who know #bitcoin and are able to think for themselves and recognise a good idea. That network will serve you well in the sea of misinformation and FUD that comes from every other news feed.
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MtGox is a hell of a forced hodl 🤣
I haven't because I'm not sure where accepts AUD
Bitcoin removes the ability to create money at lower cost than others. And allows people to accumulate wealth that can't be debased without advanced sophisticated understanding of economics required to invest in shares.
Fiat money is entirely packaged debt. The value is diluted as more debt is created. People with large amouns of capital get debt cheaply while the average person gets it at a much higher rate. Bitcoin is a hard asset and can be used to store wealth without debasement. This will reduce demand for debt. Bitcoin creates a level playing field, it doesn't make the players equal size.
I'm not surprised that Blackrock hold Bitcoin it that the WEF talk about it, they will attach themselves to whatever people use. I'm surprised they are not into it more heavily. I don't know that there is a way to exclude them without creating something that can be abused by them.
The saying is "Bitcoin, not crypto." Not "Bitcoin is not crypto."
The point being that the value comes exponentially from the network effect. Money is chosen as the most salable item, making monetary systems a winner takes all game. There are a number of arguments that favor Bitcoin, like that it was a discovery that can't be repeated. All other crypto currencies are controlled by a central body and lack true decentralisation. They all have a narrative, but the reality is that if they were really superior, the developments would be incorporated into Bitcoin. Such as lightning network solves the issue of scaling better than larger block chains that limit the ability of the average person to run a node and verify the blocks. Or fedmints to solve the privacy issues.
It is a different kind of deflation. The great depression was trying to peg the fiat exchange rate to gold too high, after the capital had been spent. A gradual deflation of a money that can be trusted to hold its value over time drives lower time preference and better capital allocation.
Economic growth requires deferring consumption and allocating resources to development.
In a Bitcoin denominated economy, Bitcoin will only be hoarded until the price increases to the point that it's more probable that the price will decrease than increase, for example if 50% available coins are in circulation there is equal probability that the price of an asset will increase as it will decrease relative to Bitcoin. If this becomes skewed and 60% is taken out of circulation, the purchasing power of Bitcoin will increase, and the probably that the purchasing power will decrease is more likely than it increases further. This will cause it to balance at a point. However, the maths for this is quite simple, allowing anyone to make relatively accurate financial calculations.
With fiat the cost of money is dependent on the decision of central planners. This is far less predictable and at the whims of political influence. The financially savvy and especially politically connected can take advantage of this at the expense of the average person, who ends up trapped in a large mortgage for a house that has lost value as interest rates rise.
Everyone is talking about this, you probably just need to find the right account. There is a chapter on it in the Bitcoin Standard, most bitcoiners have read that as an introduction and most have gone on to read more sophisticated books like Human Action.
You can thank me for the Bitcoin pump. I forgot to reload fiat into my DCA account and have failed to stack any sats over the past few days.