Imagine for a moment the cost to society of the mental gymnastics of trying to make the relatively simple idea of economics so complicated that most people wouldn’t see that deflation is the natural state of a free market.
#Bitcoin
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If every product got better and cheaper like televisions we would be so rich!
Measuring televisions through fiat only gives you a part of the story. Measure them and everything through #Bitcoin and you’ll see the full picture.
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That exact thing happened to me. Then I stated my journey with Bitcoin and I was able to untangle that vast web of financial deception that I was raised on. Thank God for Bitcoin. I am a smarter and a better person now.
Television sets are the extreme example of what’s possible. I don’t see any other product where they let the price collapse like that. Do you?
If one learns bitcoin today through social media then its almost indistinguishable from a sect/cult
People expect a lot less than they should otherwise
Everything (save for artificial intervention) is getting cheaper, starting from commodities. This is true when measured with a constantly shrinking measuring stick in fiat.
Now couple with technological progress and you will see why the price of un/low regulated products keeps dropping. 
Cults have leaders. Like Fiat.
Bitcoin is just a protocol.
Why aren’t my Mac upgrades cheaper than before? Why aren’t iPhones getting cheaper? Why aren’t my cars getting cheaper? Like televisions.
All of the above: you are measuring in fiat (imagine measuring your nephew’s growth with a height measuring stick that changes its length materially in months).
Macs & iPhones: you are conflating luxury goods with cost of unit compute power.
Cars: regulations. See 
Road & Track
Toyota’s $10,000 Future Pickup Truck Is Basic Transportation Perfection
The IMV 0 makes a Corolla feel like a Bentley in comparison.
Complication of simple things is criminal. Maybe even the majority dumb normies would not be so dumb if they were not sucked into all these nonsenses since birth.
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👆🏼 this is key, and most people don’t understand it.
Just because prices are not going up it doesn’t mean you’re not getting robbed. Even if CPI was 0% that still doesn’t tell you much about how much PURCHASING POWER we could all be missing out because of monetary policy.
Saying oh well the Fed expanded the money supply by X amount but we didn’t see any inflation (or high inflation) as George Gammon would point out does not paint the whole picture.
Once ppl understand that prices should fall to the marginal cost of production over time, as you point out Jeff, then they will know they are being robbed even if prices stay flat
Yeah thats exactly what bitcoin cultists say. But if you DYOR (it seems not many ppl know what it stands for today) you will find out there are cults without leaders
Needs a central bank to distort reality to the degree people think it's just the normal state of things. Crazy.
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Point taken.
Nobody JUST learns about bitcoin through social media. That’s oversimplified bullshit. You learn about it through experience/tinkering, podcasts, articles, books, and then go to talk about it all on socials to test your takeaways and discover other people’s perspectives on the things you’ve learned
Describing a specific swath of bitcoiners as cultists is way over-done by shitcoiners and means nothing. Leader or not (and ironically many of these people picked that up from the shitcoin cult leader udi).
Thank you Jeff!
Always spot on Jeff! Thanks for guiding us trough this turbulent waters! #Bitcoin #Lightning #Nostr
Ice cream is the ultimate inflation analogy…… from 50c to $2 in 25 years.
Any kid on earth understand 4 x ice creams > 1 x ice cream. 🍦🍦🍦🍦
Modern TV sets are data harvesting computers with big screens and producers make a lot of money selling the data they harvested from you. Some make lore money from selling your data than from the hardware itself, they decrease their profit margins on the hardware to sell more TVs to harvest more data which is more valuable.
The Verge
Vizio’s profit on ads, subscriptions, and data is double the money it makes selling TVs
Vizio’s business model doesn’t end once you buy a 4K TV.
That makes me think of all the “rent seeker” jobs, and money flowing that way, as well as the 2nd, 3rd to the nth order derivatives to keep all that working, being carried by those who are actually productive. It’s scary.
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