š - Welcome to #Nostr and great to meet you here.
Deflation is bad from a debt based system with nothing backing it but debt. Acknowledge it and then ask why we live in that system. Who wins, who loses? Then ask why deflation would be bad from a sound money system like Bitcoin.
It is the transition from one system to another that we are all living through.
Itās amazing how many people know that money is broken but havenāt connected the dots to #Bitcoinā¦.yet.
On a much smaller scale, almost as amazing as how many people understand #Bitcoin, yet fail to understand #nostr.
A real life simulation of how easy it is to reinforce what we donāt want with our actions/incentivesā¦.that gives clues to timing of the phase transition that is underway.
Finally read nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe's book The Price of Tomorrow. Makes the case that while technology is deflationary, and we are seeing tech advance at an increasingly rapid clip, governments can't afford to let deflation set in because inflation is the only thing keeping them from defaulting on their debts, which are also growing at an increasingly rapid clip. Deflation could make things cheaper and more abundant, but we would need a new monetary system.
I'd always heard it discussed as a #Bitcoin book, so I was surprised that it's only mentioned in passing as a possible solution, but the book covers many other subjects to make the argument accessible to the layperson (like me). Hoping to lend it out to a lot of people in the coming months.
Jeff, I was wondering, is there anything you'd change or add to the book if you were writing it now?
Thanks Brad - Only changes I would make from original in retrospect I would have talked more about nuclear within the energy section, and in some places I had to sacrifice depth for breadth to make it readable.
I think it was important to see the structural problem because most people are still measuring from the existing system (and carrying their baggage from it) so people would be more open to looking at how a different system could operate.
Lots of areas from there to still explore on the transition between systems and what the future looks like on Bitcoin.
Thought nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev did a fantastic and short explanation here:
https://www.youtube.com/watch?v=UiaJtzFkGxc&t=4s
A couple of podcasts that had good feedback from me were:
https://www.youtube.com/watch?v=G2vAm2hfW9U&t=1127s
Or
Thank you! Yes - and that is why retaining flexibility is key. I suspect that as you see this emerge, it will also create a rise in popularity of leaders and people against it which will open options.
But certain counties, similar to today will have very different policies than others and going to them will mean playing by those rules.
Mises quote comes to mind when reading this.
āThere is no means of avoiding the final collapse of a boom brought about by credit expansion. The only alternative is whether the crises should come sooner as a result of the voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involvedā
https://creditbubblebulletin.blogspot.com/2023/08/weekly-commentary-crisis-of-confidence.html?m=1
Remember - it is not fiat dollars pricing #Bitcoin. It is #Bitcoin repricing everything else (with a lag and over a longer time horizon)
Was debating doing the Bitcoin standard and price of tomorrow in multi-chapter chunks.
nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe is it OK if I read parts of your book on #AnotherFuckingBitcoinPodcast ?
Alternately, care to come on #AnotherFuckingBitcoinPodcast some time and talk about Bitcoin and other things?
Of course you can - AND I would love to join you on a podcast anytime.
Must watch!
Watching the Stanford Smallville experiment where 25 generative agents (now open sourced) form emergent relationships and complex behaviours.
āImagineā this experiment as the 8 billion humans on this planet and the emergent complex behaviour of all of us!
Itās hard not to consider 1) the simulation hypothesis, 2) what are the probabilities that our current reality (with manipulated money) would play out if the āgameā was played at scale with constraints around resources and technological advances 3) what the emergent complex behaviour of that world would look like with an honest ledger, and 4) what would the transition look like from dishonest money to honest money. (As a small number of āNPCāsā knew about #Bitcoin, and others didnāt or trusted their existing institutions could fix the problem).
My 15 year old 47ā TV died the other day.
I bougbt a 65 inch TCL Roku TV for almost half the cost of the TV I bought 15 years ago.
This must be the entrepreneurial deflationary preasure nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe talks about all the time.
Imagine how much lower the price would be if the $ās were worth what they were 15 years ago.
10000000%
couldn't agree more
this is why nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe 's book impacted me so much
Thanks my friend!
Expect bouts of both and for different lengths of time depending on country. Ie It doesnāt matter what we wantā¦.the transition will be chaotic b/c there is no solution from the existing system while most people believe their isā¦.so they will vote (or rise up) for their own self interests while making the problem worse.
If youāre measuring in #Bitcoin and you have flexibility to move, you are already living in the future.
nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe what are your thought on Cathie Wood saying sheās more worried about deletion in America rather inflation?
She is talking about from the existing credit based system which would collapse under deflation as every counterparty claim fails - if let go for long enough.
#Bitcoin is a transition from that system.
