MoneRogue | Justice for Hayden Panettiere's avatar
MoneRogue | Justice for Hayden Panettiere
MoneRogue@coinos.io
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Teaching the world about Austrian economics, one meme at a time. bitcoin:bc1qlefc5lwqdtu9d6xend9yxcd3qcs0umcnn0e5wp monero: 8ADYj4tVrrGN7GH5z2rcQKXhbix9xco74jZxzpfFfckKYNykU38aVYtAWYsBsFZjzhR6bxn6CCkcgBNRhXVZaRPf6SkeGhH zano:ZxBnVaKESwG2eYiaDSKvS88UjvbuRpR4cEkXNsSptiS79SX43WGiBmm4tBKeSca66K95S1EwiNrvt7wNVTCZhJ9H1geeLtp2e
Here's a chart for Bitcoin (and crypto in general) regarding how it fits in the Misesian broader and narrower senses. Bitcoin in the narrower sense: Commodity BTC - On-chain BTC Credit BTC - BTC loans taken Fiat BTC - N/A (unless you count L2 blockchains like Lightning or paper wallets, let me know your thoughts) Bitcoin in the broader sense: BTC-substitutes: Fiduciary media - Unbacked and irredeemable Bitcoin i.e hacked or lost BTC blockchains BTC certificates - Backed and redeemable Bitcoin i.e L3 blockchains like Ecash or L-BTC; Paper Bitcoin might all count, not sure. image
The incident with Liquid Bitcoin goes to show that where you place your funds is only as safe as the funds themselves. When L-BTC goes unbacked and irredeemable, it ends up becoming worthless fiduciary coins, giving users a false sense of security. By the time the runs come, it's already too late to save your funds. It's always good to use commodity Bitcoin i.e when you own your own keys and coins whenever possible, as they are the safest type. This is not to say you should avoid Bitcoin-substitutes, but it is to say that you must do your due diligence when it comes to receiving them. https://mises.org/library/book/theory-money-and-credit View quoted note →
The best way to help the working poor is not by printing a bunch of money or welfare entitlements. It's by the formation of wealth. Wealth is not the amount of money someone has to their name. Rather, it is the amount of goods and services available to the population. The greater wealth, the better. And how do you get wealth? Through free trade, free markets, free immigration, and the private ownership of the means of production. Y'know, the very things the statists don't like. image #Agorism #AnCap #Anarchism #Libertarian #Antistate #AustrianEconomics #EconomicGrowth #FreeMarket
Can someone explain to me why everyone thinks they are inherently entitled to someone else's property? If I had five dollars for every time someone went apeshit the second I brought up repealing the CRA I would be as rich as Elon Musk.