Micro transactions of a neutral highly divisible money will lead to new incentive structures that makes the promises of the internet from 20 years ago a reality.
Itās not just zaps. You will own your attention and monetize if you choose. New forms of cooperation will emerge. Large groups of people will be able to cooperate and self organize unlike anything seen in history.
#Bitcoin #nostr
How do you find meetups
Scarcity of the money leads to abundance of everything else.
The willingness of saving the medium exchange as a store of value will simply reduce the number of sats that account for the output of the economy. The incentive to get the deflationary money if you are a human actor or robot/ai will be incredibly high in the short term, you must contribute to bring the cost of production down to do this in a fair economic system.
After you have some sats you buy according to incentives from within rather than ones imposed via inflation. Your consumption will not include unnecessary fiat crap to fill a garage with and will further bring down prices.
There will be a time after #Bitcoin is the base layer of the global economy where if it has stabilized or only slowly gains more of a % share of all wealth. When that happens the majority increase of spending power of individuals will come from the deflationary force of technology. Based on the amount of M2 increase it takes to just achieve the feds target CPI inflation rate that number will certainly be greater then 10% as it is already around that today.
Even if the deflation rate is just 10% that means that whatever your bitcoin stack you could continuously spend 10% of it for eternity and your living standard would stay the same. Families that spend slightly less of a percentage of their savings when compared to the deflation rate percentage and are able to successfully teach their children and grandchildren to do the same will create a level of abundance hard to imagine for the the grandparents who started spending modestly. The annual spending of these families will honestly be less then the number of sats I can get on a post, it seems ridiculous but mathematically is true.
Generational wealth is now built off modesty, discipline, and a short time preference rather then fiat exploitation and debt.
#bitcoin #nostr #Lightning #ligbtningnetwork #zap #zaps #proofofwork #pov #satoshi #war #oil #petrodollar #m4 #plebchain #energy #mining #sats #m2 #generationalwealth
Currently building a client with my business partner and more technical friend nostr:npub1jcr4wc6fp0tc3m90xmjz88fauw0mcdxww4rx2xcflvecvfvqv0fs54kny3. Would the community be interested in zero collateral yield???
Basically like a savings account with interest but you are 100% in control of your sats. You get distributed sats based on the inherent value your attention has. We are working on this and believe it is an under looked aspect of #nostr
This seems inevitable now and would be a huge breakthrough in the 5000 or so year history of banking, and could potentially be an important feature of post labor economics.
#bitcoin demands curiosity. The halvings, booms and busts, 24/7 open global market, and the fact that everyone who has put in the proof of work to understand it has their life changed by it.
People who will control a larger share of capital in the future will be those who could let go of their ego, they will be low time preference people who were willing to admit that everything they have been told about history and the world may not be entirely true.
Your debt settles in fiat backed by bonds thatās demand is supported by gov printed fiat made possible by more debt. Debt to GDP ratio canāt get paid off and technology being deflationary just cements that fact. The government will devalue your money to pay off that debt, you paying it off can probably wait. Stack some more sats.
The Egyptian Pound has experienced 60% of its energy being confiscated in the last 24 hours*
Measurement stability>Price stability.
For me its when governments are forced to give up supporting the housing market. The fiat game ends the way bitcoin started, a housing crises. One of these times though governments will be forced to just let home values collapse into the bitcoin black hole. š³ļø
Appreciate it! Appreciate the sats too š§”
The concept that people wanting to continue consumption forever is a keynesian lieā¦
Under sound money with fair incentives becoming wealthy means you contributed to bringing down the marginal cost of production, or contributed to the adoption of the better economic system by adopting the sound money earlier and for cheaper.
The way in which Bitcoin will make the world a better place because of these two factors is very interesting. Imagine someone with many bitcoins or even just 1 bitcoin 100 years from now. Their wealth far exceeds their consumption and the fact that they donāt spend most of their sats just makes the sats of poorer people worth more. Under an inflationary money wealthy people are incentivized to spend more or invest in assets like homes making home ownership unrealistic for most people.
Charity could start to look completely different. Since wealthy people donāt spend more with sound money a dead persons UTXO does not increase their consumption, but gets primarily distributed to the consumption of poorer UTXOās. By saving your sats and dying with them you can donate in a distributed way to the network with little of that being consumed by already wealthy bitcoiners.
#bitcoin #nostr #Lightning #ligbtningnetwork #zap #zaps #proofofwork #pov #satoshi #war #oil #petrodollar #m4 #plebchain #energy #mining
Applications that solve the problem of social media using your attention as a product to be bought and sold will be big. People will be able to make posts similar to ads where they can maximize reach to the point at which cost is at equilibrium with what they get zapped in return. Companies that are generally well received for the business practices win.
People creating content can also choose to not maximize reach at no cost but maximize profits. This will be huge for content creators and journalists. Content will also generally shift to what creates the most value since the most important KPI will no longer be click rate or watch time but value provided.
Spam protection will also be big. If an actor human or not wants to reach many people they will either have to value that enough to expend money or the content will have to be valuable enough for users that they can get tremendous reach at no loss of money.
Yea I should probably give myself more time between waking up and going straight to posting š
I accidentally double spended the retweet button on that last post. I need to keep my phone off black and white when on Nostr apparently. Now itās there forever smh
You think those countries will have reserves for such a situation or just the ruling class will have bitcoin?