Replies (25)
How did he get it so spectacularly wrong?
Truly amazing!!
Has never heard of the Canillion Effect. Or more likely just lying for $$$.
Butthurt is a terrible disease, affecting millions.
Emotional reaction vs deep rational study of its implications
That Mike person is spot on. The solution to the current fiat woes is more fiat i.e. demurrage.
tell that to the conference room i’m currently in full of african bitcoiners who are using bitcoin to escape inflation and financial tyranny from their countries run by dictators. they are using bitcoin to increase their freedom.
To most people in the world more fiat is just more repression and less freedom. you must not care about that since it sounds like you are in your privileged position that doesn’t need a bitcoin solution.
> privileged
We built our country ourselves.
In reality it's just the opposite, where inflationary fiat capital is disproportionately accessed by the richest at the expense of everyone. Hard money stops the large scale theft.
Never mind the opportunity to reform the pension system in Europe. The alternative is currently repression of the European population. So much opportunity for everyday people to save in bitcoin and creat a nest-egg.
From my privileged West perspective, fiat money is a slow drip drip form of slavery, where if you work really really really hard you might keep your head above water, you might even get lucky and end up in a boat, where you'll probably assume the system is great and those drowning aren't working hard enough.
Everyone should be in a boat, wealth is great, but if you're born on the rocks, the current system isn't a rubber ring, it's a lead weight.
Nortical analogy aside, imagine the creation of 'things' that could be and where civilisation would be if people were not controlled by a financial system.
It's not working is it?
It's working o.k. The improvement is in more fiat, not less. Demurrage means you can't own money. It means you will always owe something to someone but it also means there will also always be someone owing to you. It keeps the economy working.
I'll be honest, I'd never heard of demurrage til now, cheers for that, but surely 'owing v owed' outside of the fiat system is better still. The economy will still work.
There are lots of alternatives including various stablecoins backed by serious assets.
Usd stablecoins
It is only a nest-egg if there’s a buyer in the future.
With mining costs going up, margins going down, trend on sell off.
The nest egg might not be in demand
Can you elaborate on what you mean “With mining costs going up, margins going down, trend on sell off.”
That’s actually not true. The inflationary system artificially increases the value of capital and decreases the value of labor
See:
https://njump.me/nevent1qqsvnus6n2qjs585cwspd5kn84hqleu8ftdxx6prt9mng7x0kyxtqygzyzf33zg869j98q0ktaq2u9ncmqngn69252uvtwp8k9wu9eslzdgnsqcyqqqqqqgpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgqgdwaehxw309ahx7uewd3hkcwaqfd4
Miner reward is ~3.25 BTC. It was reduced in 2024.
Revenue is down. Cost is see link. Margin is down due to previous 2.
Sell off by miners. See link.
So many here treat #btc as religion. Everyone has the right to believe whatever they want to believe.
Someone hurt him and he’s taking it out on Bitcoin. It’s laughable because of how obviously willful his irrationality is. V for vendetta. Or he’s controlled opposition…. 🤷🏻♀️
Serious assets like Luna?
Yes, this terrible hard money standard we’ve been on the last 50 years is the reason that wealth inequality grows year after year 🙄
hahaha no not really. so many groups got oppressed.
I'm pretty sure I don't live in your country.
pretty sure every single country has a history of oppression. involving minority groups.
I heard one of my neighbors didn't get his pizza delivered once that he paid for. the poor oppressed guy.
