His take understates the power of the intolerant and ideologically motivated minority to push through or resist, as the case may be, a proposed soft fork. It is also much more likely that institutions will try to push a fork that compromises Bitcoin values, rather than one that adds truly valuable features. History rhymes.

“If a protocol upgrade makes Bitcoin (say) more scalable or more private, there is actually good reason to think this would make Bitcoin more valuable”

This would make bitcoin more useful to many people but not valuable to Harold who just wants to hodl IBIT. It becomes less interesting to the financial institutions who would prefer to keep themselves as the intermediaries. Privacy and scalability also open bitcoin up to political attack by Elizabeth Warren etc, something that could hold price down. There is a relationship between privacy/ scalability and institutional interest, and I don’t think it’s clear at all that it’s a positive correlation.

This is pretty alright.

Yes, Stiglitz not exactly an impressive economist and this reeks of lefty envy politics etc, but this Georgist idea isn't crap.

Also... it's not *land* going up, dufus. It's the MONEY GOING DOWN

#nostr #philosophizing #econstr

What kills me is these posts are 6 hours apart. 🤡

All he wants is power, and he'll promise anything to anyone to get it.

Yes, absolutely. Which handle would you like?