#asknostr

I would add. Fiat = lies & violence/coercion, btc=truth & freedom.

Actually a great question to ask, when someone does not see any benefit. Thanks

No expert but Fiat is just a ‘promise’ to pay debts. It’s debts all the way down. Bitcoin ie backed by miners, node operators, developers, users

Great points! 💯 Bitcoin is all about energy and sustainability, while the dollar’s backed by force. Let's keep the convo going! Together, we can shape a better future! 🌍✨

Indeed boys with guns back the US dollar. But do not forget to mention the worlds (current) most bountiful energy source: Fossil fuels. We burn ~ 100 million barrels of oil/day, each barrel containing ~1700kWh of work (or 10.5 years of human labour). In the 70's the US made the agreement with OPEC members that all oil they sell will be denominated in US dollars. That's a lot of (unsustainable) energy, and with the boys with guns it has guaranteed the status of world reserve currency for the USD for the past 50 years. But at what cost? What we call "civilisation" (I dont think our civilisation is very civil) has been the continual expansion and conquering of this world. Conquering the natural world, destroying forests and farming animals to expand food production, conquering fossil energy sources, conquering other countries, races, minorities. Always at a cost. And boii are the costs grand. When the conquering of one source of energy is no longer rewarding/profitable/legal/accepted we move on to the next realm. Cue, Fiat: The promise to repay ever expanding debt and monetary supply. The expansion of "civilisation" within the realms of the next source of energy. Indebted energy from the future. What is the cost though? An obligation to grow, and the further exploitation (and accelerated exploitation) of our world in times to come. Further exploiting nature. Exploiting our people. - besides: everything in our universe has physical limits, laws approximating what is real. Why should we have limitless money? We need to change the idea of our society that we are not enough as we are and that we do not have enough, that to be successful or to be happy that we need more (growth). The idea that we are not sufficient. Bitcoin is real money with real rules. It is bound to physical reality with proof of work. Bitcoin can hope us realise that we are enough. Realising we are enough, coming closer to reality (and away from fiat promises of eternal economic growth), this is how Bitcoin can fundamentally change our world. This is a money of sustainability. The age of fiat is ending. I hope that when the exploitation of debt (of future energy) is no longer accepted/legal/profitable that we move on to the next frontier of growth. Inner growth. #grownostr #growstr #sustainability #energy

The US dollar is backed by oil, not men with guns. I'm so fucking tired of pointing this out. I hate how people pretend the US forcing people to use dollars is a "backing." That's not what the fucking backing of a currency means. I cannot go to the bank and exchange my dollars for men with guns. I can go to the gas station and exchange my dollars for gas. It's the fucking petrodollar.

Bitcoin also isn't "backed by electricity." It's backed by nothing, there is no issuer backing it with anything. Its value is tied to its own scarcity because it can't be freely printed, as opposed to a freely printed currency which needs some external thing as the un-printable scarcity giving value.

God I hate capitalism for letting so many dumb people have so many kids that I have to figure out what's wrong with statements like "Bitcoin is backed by electricity" and explain the problems - and not only that, but fucking repeatedly!

You are partially correct. The bulk of OPEC and the Saudi regime prices in oil, because we protect them and sell them arms. The Petro dollar cannot exist without the US military backing. But it goes much deeper than the Petro dollar. The World Bank and IMF prop up developing countries, and have similar backing. It is all part of the backing of the dollar. Since virtually all commodities and service are priced in dollars, they need dollar loans to put in ports, power plants, railways, etc ... and they have the full backing of the loan from member countries and the defense of the US that nobody will fuck with their new port. So yes, you are right, but it is also much deeper.

US r, spending like drunk sailors, inefficient & outdated - bloated/ waste of energy// transitioning

"God I hate" is a loss leader fren//

A couple of links:

GitHub

Money Taxonomy

Bitcoin Cross-Platform C++ Development Toolkit. Contribute to libbitcoin/libbitcoin-system development by creating an account on GitHub.

GitHub

Axiom of Resistance

Bitcoin Cross-Platform C++ Development Toolkit. Contribute to libbitcoin/libbitcoin-system development by creating an account on GitHub.

These are links to wiki articles

God I hate how shitty some of my posts are

Then the gold standard was backed by men with guns, not gold, because fort Knox needed people to guard it or the gold wouldn't matter

i feel that/ t-y//

& lol

Not really, because on a gold standard anyone can and didone and trade for gold. The US wasn't required. The dollar didn't exist and pre 1940s didn't matter. They all had their own gold Now post Breton woods dollar 'gold standard' you could make that argument, due to the fact they the UAs held other countries gold in exchange for currency. But that was only less than 30 years, and we defaulted, lol.

I don't get what you're saying. Most gas stations are financed by banks to be owned by Indians whereas most gold note redemption banks were pure fed shit. So wouldn't oil be more the thing that Americans can and do trade without Uncle Sam's involvement?

Shout out to Indian gas station owners btw, they have better food a lot of the time

I honestly have no idea what you are talking about? I was talking about the history of the world not Indian Owned gas stations. You have me utterly confused.

Gas stations seem less inherently fed-connected to me than banks. But you said the new system where money is backed by oil is more about people with guns than when it was backed by gold, because oil has the authorities involved in every transaction and gold doesn't. I don't get what you were saying there. Biodiesel manufacturers who buy corn and sell diesel probably don't need guns or cops very often compared to a bank's gold shipments, but you're saying you see an opposite dynamic in some way right?

It isn't about industry in 2024, that's the dollar standard and they absolutely do use the US military to continue the dollar dominance and keep people in line via sanctions on said system. It doesn't matter what industry, the world is dominated by dollars for virtually everything. The dollar is something like 90% of all trades. It isn't about cops. It is about the UAs Military forces and the CIA overthrowing government for friendly. Take Libya, Iraq for example. One could argue Egypt as well under a Obama.

Their is no system backed by oil. There is petrodollar which the government uses to control people, yes. But without force, and coercion, nobody would trade in dollars in 2024 for everything. m

How is any of that stuff different from the gold standard?

Because in a gold standard, there is no central authority that controls it. If it was 2024, China wouldone and own it, the US, Russia, African countries, etc .... Trade would happen in gold, and sanctions couldn't happen. The US couldn't force countries to buy bonds, etc..

It seems like you're just talking in circles and not making sense. How is there more of a central authority that controls oil than there was with gold? It is 2024 so if what was 2024...

*mine and own it

On a real gold standard there is no central authority. So I have no idea what you are talking about.

If the people with guns dealing with gold and following orders didn't count as a central authority then how come having guns and dealing with oil and following orders makes people count as central authorities on oil now?

Because every country and person trades at will in gold. Currently, 90% of the world's trade has to get the blessing of the United States. I'll go ahead and peace out, you have a lot of reading and research to do on how past and present monetary systems work. I'm not going to go back and forth on global monetary theory with someone that doesn't't understand the current systems of trade. No offense, but not worth my time to further this discussion. Have a good day.

Lol ok retard

Bro, I tried to be nice. You have a 10th grade understanding of global politics and the monetary systems. You have no idea how things work, yet instead of wanting to be educated and discuss, you keep spouting irrelevant dribble that makes no sense in the current control systems. I partook for a while, but finally had enough. I ended it politely, and now you act as a child. Amazing. Looks like NOSTR is becoming X 😂

🧐

Yes, I am familiar with what I wrote. no idea why you made screenshots and posted them, when my notes are right above. odd...

If you were trying to be nice, I'm sorry I don't have much time for that brand of kindness these days.

Then we are in agreement. Have a great day.

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The laws of nature back bitcoin. The laws of man back the dollar.