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Not a Polar Bear
somersetben@evocomp.co.uk
npub13wpu...qpdr
Not a Polar Bear, who went from Electronics -> Software -> Databases -> Monetary Systems.
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SomersetBen 1 year ago
I've just returned from a trip to London. It was heaving and - apart from the tourists - seemed full of people with "things to do and people to see". Particularly in Canary Wharf, a bustling business district. I posit that, on a local scale, people coalesce at a location where they can earn what they need to live and then a bit more - maybe a lot more - for a comfortable life. Hold that thought for a second and I'll tell you that the excellent "Broken Money" by Lyn Alden was too heavy to take to London in my shoulder bag so I took the much lighter "Hidden Repression - how the IMF and World Bank sell exploitation as development" by Alex Gladstein. "Broken Money" explains how money *can* be abused by those in power whereas "Hidden Repression" details the actual mechanism that *is* used. The developed countries are plundering the developing countries and enslaving their populations who are now looking for a way out of that perpetual poverty. Back to London: people coalesce at a location where they can earn what they need. So the same surely applies on a global scale. Populations migrate to where a living can be made and if, by way by example, shrimp farming has destroyed a sustainable lifestyle in Bangladesh along with the environment (Gladstein chapter 1). We shouldn't be surprised if migration from Bangladesh to developing countries happens. What if the IMF and World Bank stopped making loans to developing countries - encouraging (forcing?) them to export the necessities of a luxurious, first-world life - and gave loans to encourage real, sustainable development? Maybe people could lead sustainable and fulfilling lives in their own countries; effectively dispersing the masses from artificial concrete cities to healthier, more fulfilling locations. By the way, I do recognise that this last point might come across as wanting to "send them home". It's not. I just don't understand why happy lives can't be lived anywhere. I certainly wouldn't be happy living and working in a concrete jungle and neither would I be happy living on land polluted by saltwater so I could grow shrimps for export and earn $1/day. Something in between would be nice. Indeed, I might try El Salvador. Can't we just share the bounty of the earth in a more equitable fashion? The Dollar hegemony, central banks, the IMF and the World Bank all need to go.
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SomersetBen 1 year ago
A quick suggestion/request. Use… DoGE if we’re talking about a newly formed department in the US DOGE if we’re talking about a sh*tcoin
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SomersetBen 1 year ago
I have a niggling thought… What if, at some point in the next two years, Trump issued a 6102 style executive order banning companies from holding #Bitcoin and issued certificates (perhaps redeemable in dollars) for the Bitcoin confiscated? I don’t know how to take this thought experiment any further. Sorry
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SomersetBen 1 year ago
I was a little bit sad to learn that after my hyper-cautious, anti-crypto bank in UK makes a transfer to @strike “…deposits can take up to 1 business day [to be applied to my account] due to several factors such as the timing of the transfer, the location of the transaction, security checks, bank holidays, and transaction-specific details.” Bank Holidays?! @jack mallers, do you have any plans to fix this?
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SomersetBen 1 year ago
And you wonder why some folk have trouble understanding #Bitcoin! image
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SomersetBen 1 year ago
Here’s a thought. Whenever people buy #Bitcoin from an exchange they are exchanging fiat for BTC. Never mind what currency they use to buy, it’s the miners who are at the end of the supply chain. The miners buy energy for BTC and with 37.8% of miners in USA, they will be paying in dollars. That means that dollars are entering USA fiat economy at the rate of… 37.8% of 3.125 BTC every 10 minutes, 6 times an hour, 24 hours a day at $100k each. If I’ve got my sums right, that’s $17m per day effectively being injected into Dollarland to cause more inflation. Is this significant?
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SomersetBen 1 year ago
Let’s hope that #Bitcoin can hold onto today’s recovery to over $100k so we can record a new ATH with the added bonus of an extra ring of power. image
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SomersetBen 1 year ago
And then it c-r-a-s-h-e-d, which means that the chart (which gets live prices throughout the day) forgets there was ever an ATH. image
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SomersetBen 1 year ago
OMG, #Bitcoin over $100k made BBC headlines in the 7 o’clock news
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SomersetBen 1 year ago
Over $100k and the scale of the graph adds another factor of ten. The fiat equivalent of #Bitcoin spirals into a black hole of oblivion. image