If you threaten the average person with jail for participation, the unfortunate reality is most people will willingly opt out. I fucking hate the state, but I'm not at the point yet where I would give my life to fight them on this. Not unless there were millions of people to do the same.

Similar to how “closing down” gun access for criminals is impossible, “closing down” crypto access for criminals is impossible.

However they can close down access for law abiding people.

Can't what?

A lot of people seem to be underestimating the power institutions have over the financial systems. I hope I am dead wrong on this.

Fact 🫶

Good morning, btw.

So it’s a valid transaction! And why should we do something against valid transaction? Why is somebody right about how to use bitcoin and somebody is wrong? I don’t like Luke’s ideology against inscriptions.

Im fine when he “fixed” it in Knots, but why should we “fix” it in Core?

Let people decide, give them both implementations and see which wins

There continues to be a scarcity of resources.

There will be war long as resources are scarce.

One of my clients has a house, whose ballroom is as large as the entire house I live in.

He's never had a real job in his life, but his "productivity" as measured by taxable income is at least 5x mine.

To his credit, he got bored and started a business. It has employees, who receive 95% of their renumeration from various government programs (I helped organise that).

It has permits, because he went to school with decision makers.

There is no universe in which he is a net benefit to society. But I like the guy, and for his social class he's well above the mean.

The top and bottom 1% are net costs, absolutely.

Individual exceptions exist, but they exist despite our society's bureaucratically modified incentive structures.

I think you greatly underestimate how much the rich depend on constant state action to remain that way for more than a few hours.

My country has thousands of pages of regulations and half a dozen federal agencies whose reason for existence is protecting passive corporate investors against their own hired management.

Corporations large and impersonal enough to need hired managers are a relatively recent innovation. In every industry, diseconomies of scale kick in at different levels, and function as natural limits to corporate growth; but lobbying and regulatory capture allow companies to grow well past these natural limits, and establish oligopolies that extract market rents greatly in excess of what they could by pleasing customers.

If the state and the courts ceased to recognise limited-liability corporations, the level of inequality would implode immediately. No risk-free passive investment would force wealthy parasites to get useful jobs.

Then, if we cut government spending by a good 99%...

PLA 😎

gn psychos

STACKERS ARE BUILT DIFFERENT. SUITS IN DISBELIEF. THEY ARE USED TO MOST "INVESTORS" SELLING AFTER A 100% GAIN.

WE NEVER SELL. WE SPEND WHEN NECESSARY.