The guy that promised there would be many opportunities to buy below $100k was right. I just got a paycheck worth.

I used to fly in Mojave CA and the contractor ATC there used to run 3 intersecting runways simultaneously with helicopters jets and light aircraft. Best ever.

No you need the fuel injected 500i

Buy the farm, sell grass fed beef to bitcoiners

Sats

Use the Mute function

Flying around the old volcanos north of Flagstaff is pretty cool.

Literal meaning: miss spelt I am Holding.

Colloquial meaning: conviction, I’m not selling.

Incorrectly interpreted as an acronym for hold on for dear life.

In 19 years that last $1000 probably wont buy a coffee. Clearly never learnt the rule of 72.

So basically WWI, depression and WWII turned us into slaves.

As long as bitcoin cagr is higher than the interest rate never pay it back just keep refinancing it. Use the new loan to pay the old loan and take the remainder yo buy a bit more bitcoin and spending money.

Paying 12% interest is cheaper than 30% capital gains tax. As long as bitcoin’s CAGR is higher than the interest rate and you keep the leverage low it makes sense. Not risk free though.

Perhaps they inherited it from the rate of new gold mined when they were on a gold standard. But I’m with you bitcoins terminal inflation rate of zero is fine by me.

How does a business owner use proof of work for compensation?

I haven’t defended the proof of stake fiat money system at all.

You still have not provided a solution and frankly your description of the root cause of the problem is incoherent. Despite several interaction i cant understand you.

No argument that those closest to the money printer extract the most value. The money comes from the fed and commercial banks so get rid of the fed and allow banks to fail while adopting bitcoin is my solution. Whats yours?

I feel like I’ve done the heavy lifting today just go ahead and enlighten me.

If you are only qualified for one job yes it’s better to choose that job than starving. If you have a choice of multiple jobs choose the best one. If you don’t like being a worker avoid starvation in the short term by fiat mining and saving in bitcoin for the longterm.

I’ll use a personal example. Im a worker and live below my means. I realize i am being debased at ~7% by monetary inflation. Of the commonly available investment vehicles, stocks bonds gold real-estate, I choose real-estate. Because i can save 20% of the value of a home i take advantage of the government subsidized mortgage rates and go 5x levered long. I rent it out to earn 4 ways. 1. Rental income. 2. Equity via loan principal reduction. 3. Tax reduction. 4. Appreciation caused by me and all my friends monetizing real estate because we know the fiat currency is shit. Rinse repeat via refinancing.

The bigger my portfolio the more i can borrow.

That its pretty rational given the current circumstances. And some people should probably rent so landlords provide a valuable service to them. For example let’s say you take a temporary assignment for six months the costs of buying and subsequently selling makes no sense.

But if i have the option for bitcoin it makes sense to save in that. So i sell my houses which puts downward pressure on prices so folks that were priced out can now afford. Take away the lender of last resort and banks will reduce the risk they take writing loans so there will be less buyers. If a bank goes bankrupt another will buy its assets for favorable terms and save me the taxpayer from bailing them out. Without the government subsidizing interest rates people couldn’t afford such high prices so prices would fall.

The thrust of this is that the government interference and granting of monopoly/cartel protection to bankers distorts the housing market.

On a bitcoin standard there will still be people that need or want to rent, there will still be people that want to run a real estate business and thats fine. What we would probably have much less of is people owning real estate because they think it’s the best way to protect their purchasing power from monetary inflation because sooner or later they will realize bitcoin is better. Even if you don’t end the central bank life is still better for everyone with bitcoin around, even for those that don’t buy it.

I don’t mind people having different amounts of money as long as the rules of the game are the same for everyone, but they’re not.

The FED has a license to print an infinite amount of money by just making a keyboard entry. They are also legally protected from trading insolvent and going bankrupt.

Commercial banks are also allowed to create money from nothing and are functionally protected by the FED acting as a lender of last resort. Large public companies have access to large loans at low rates, and as you go down the stack to small public companies then large private companies to small businesses and individuals the loan size gets smaller snd interest rates get higher. The bigger you are the bigger you stay and the more the government protects you. See airlines getting bailed out during covid while my local hardware store sad forced to close. Proof of stake.

But if you take away the FED a good chunk of this unfairness goes away. You run a shit fractionally reserved bank and there is a run, bad luck you go bankrupt. Run a bad business go bankrupt.

If you are a worker and save in bitcoin for 8 years you can probably afford to leave if you want to or at least bargain better for a raise. If you and your coworkers don’t like the conditions take your bitcoin and form a coop and make better products cheaper and share your profits. When a business goes bankrupt because there isn’t the fiat lender of last resort you and your fellow workers with bitcoin can buy it for pennies on the dollar and run it better.

While i don’t like the fact that large companies can borrow billions for 0% they are acting rationally in the system as it exists today.

If you just got rid of the central bank and allowed stupid ideas to fail that would be a great start. I think on a bitcoin standard people would naturally end up with different amounts and thats cool. At least the rules of bitcoin are the same for everyone.

Just trying to simplify given the difficulties of long conversations via text.

I agree that productivity has gone up fast as have costs of goods and services while wages less so resulting in a real cost of living crisis.

As you point out there is a shit ton of money it’s just not distributed fairly or evenly which are not the same thing. So no real argument on the symptoms or ill effects.

I think we disagree on the cause. From this specific meme you posted I take it that you think people with capital and own businesses are to blame.

Im more inclined to think that the central banks monopoly on issuing fiat currency is the greatest source of the inequality.

Given you have BTC in your moniker I’m assuming you like its monetary policy. I think in a world with bitcoin and without central banks the wealth inequality would be less. But i think there will always be some that are smarter, harder working and better at organizing and predisposed to taking risk and they will start businesses. Others will just be happy being workers. And each will be relatively better off on a bitcoin standard. Both are doing work snd being compensated for it. Hopefully what we will have less of is people getting money for nothing.

Early 2020 i took a new job and moved across the country, bought a house and used a 20% downpayment to avoid mortgage insurance. Dumb move, should have paid minimum down and bought bitcoin. Made up for it by taking a HELOC in mid 2022 to buy bitcoin which is now worth 60% of the value of the home. I think in s couple of years the bitcoin will be worth more than the home.

Look forward to reading your blueprint. I think its more likely that everything slowly gets more shit over time and most people just put up with it rather than a rapid collapse. But currencies and bond markets can break pretty quick.

Do it Rachel, the plebs yearn for cheap corn you are our only hope.

You seem passionate and well meaning but you are not convincing and your feelings aren’t actionable solutions. All the best to you. Perhaps you will have more luck with others.

All