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Wish I could train my AI LoppBot to monitor all the posts from Bitcoin haters and serve up the most retarded ones for me to dunk on. It's quite tedious to scroll through the cringey bullshit manually.
Apparently one of the arguments Keynesians make for why Bitcoin's fair value is close to zero goes like this:
MV=PQ
M is the total money supply
V is the velocity of money, that is the average frequency with which a unit of money is spent.
P is the price level of the money unit
Q is an index of purchases
The value of the Bitcoin economy = (PQ)/(V*21000000)
Since almost nobody transacts in BTC for goods and services, Q=~0 and thus Bitcoin's economic value is basically zero.
While it's true that almost no one transacts in BTC on a regular basis, the logic is flawed.
MV=PQ is the equation of exchange. It's a way of measuring the amount of money that an economy needs based upon the demand for transacting. It's Keynesian demand-side monetary theory as opposed to Austrian supply-side theory.
Here's the unstated assumption for why the equation is wrong. More accurately, I'd say the equation is INCOMPLETE. The whole thing is built upon the assumption that the ONLY factor for demand of money is to SPEND it. We all know that's absurd. As such, this equation can AT MOST only quantify demand for SPENDING value, not storing value.
The Keynesians can't comprehend the value of Fuck You savings.
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My bad.
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Some dumb MSM lady said it's not real money because it's not backed by the State, thus it's rogue money.
Andreas dropped off social media because he didn't want to deal with the puritanical bullshit.
Thankfully I find the puritanical bullshit entertaining.
Checkmate!
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From time to time I manage to piss off some script kiddie wanna-be hacker and they decide to "teach me a lesson" by DDoSing my personal web site.
I watch them in amusement and take no action.
It's always interesting to see how long it takes them to realize that they made a mistake in assuming that I care about my educational resources that I offer for free being temporarily unavailable.
Adventures in urban living:
When you live in a building with 1,000+ residents, it really sucks that any single one of them can trip the fire alarm and shut down the elevators.
Because out of a group that large, there are bound to be some jackasses and idiots.
TIL you can descend 10 floors of stairs per minute if there aren't any slowpokes blocking your path.
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Trying something very different and living in a high rise condo for a few months.
Urban life pros:
* Convenient access to restaurants & entertainment
* Businesses are open longer / later
* Public transportation
Urban life cons:
* Public transportation
* Expensive AF
* Noisy AF
* Beggars
City dwellers, what should I do to maximize my enjoyment of this experience?
Probably at least 5 years away.
Happy Hearnia!
8 years ago today, long-time Bitcoin developer declared Bitcoin a failed experiment and sold his coins for $430.
He went on to work for R3 to build a permissioned blockchain solution called Corda that you've never heard of.
THE FREE WEIGHTS ONLY GO UP TO 50 POUNDS
HOW DO YOU EXPECT TO RESIST THE MAN IF YOU AREN'T SUBJECTING YOURSELF TO REGULAR RESISTANCE TRAINING, ANON?
When you're on vacation and the machines at the hotel gym only go up to 200 pounds.
OOOH YEAHHH FEEL THE BU... GETTING WEAKER
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