"Your dollar ain't shit"
But have you ever asked yourself why?
We're getting scammed & we ought to understand how...
#Bitcoin #grownostr #footstr
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Replies (77)
👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼
Yell this from the rooftops!!! Wake everyone up!!!
How do I share this with my normies?
So good 🧡, but I don't see it on YT yet.
Guy, this is fantastic. It's extremely easy to understand and we'll articulated.
Show this to your friends that aren't on nostr and don't understand what's happening with our monetary system.
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Whoever sells their #Bitcoin to buy dollar is exactly that. An exit liquidity for their tokens, printed out of thin air.
⚡️
Most succinct explanation of this I've ever seen 👏🏽
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Excellent and easy to understand summary! Thank you
#amethyst lets me to save the video.
Or you can simply link to this post:
Snort
TheGuySwann:
Snort is a feature-packed, decentralized social media client built on Nostr protocol. Fast, censorship-resistant, and open source. Connect with the...
this was a great explanation. thank you!
Bruh, arguing a static economic model a la #bitcoin or similar doesn’t solve consumer driven economies, and the interest rate of a consumer driven economy is why there is inflation, since interest devalues money.
And the demonising a democratic government shows how weak the choice of politicians have been.
Now, the idea that a static scarcity would solve people’s problem, rather those early coiners is a bit of a boiler room arguments and doesn’t really work.
A pyramid scheme doesn’t serve the late generation.
This again because the core value of the current bitcoin pyramid scheme is the fiat gone into it, and sinks when the fiat is pulled out.
You can’t trust freedom when it’s not in your hands friend.
Another way to look at it:
2% inflation means your savings will decrease in value by 50% within a span of 34 years
At 8%, it takes less than 10 years!
Hits different when you put it like that.
Bitcoin changes incentives and time preference.
Fiat inflation drives the consumption that chains us.
Perhaps we don't have to be focused on being one of the largest consumers. 🤷
Its being uploaded. YT just takes a bit. If you don't mind holding off I'd appreciate the views. The channel is still brand new basically, lol
The parasite class has to go.
Well when you put it that way… makes me sad 😔
But im grateful for #Bitcoin 🤙
If you don’t know where the exit liquidity is, then you are the exit liquidity. #bitcoin fixes this
🧡
Yet, bitcoin doesn’t really have any intrinsic value of its own but the fiat it inherits along with the consumerisms flaws.
But hey, who doesn’t want to be mothering wars and other suffering since most of the governments invested their darkness into it to avoid people’s questions.
🔪
As an economics secondary teacher, this is well done. Kudos. Keep it up. Always like small, easily digestible bits of learning.
If you describe Bitcoin as a pyramid scheme then you no nothing at all substantial about it, or you have no idea what a pyramid scheme is
"Everything that we did to make the world better was stolen, plus 2% more."
Perfectly said.
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This is how all property works, the more scarce, the more long term holders benefit over newcomers.
In fact this is also how all currencies work.
The longer I'm holding a currency & recieving a return the more currency I'm going to have compared to newcomers.
The beauty of Bitcoin is my currency probably won't make me a return of more currency just because I'm holding it - rather I will have to continue to trade goods & services for more coins.
How much nonsense can you fit in one note?
Perfect breakdown of how we are being stolen from. 🔥
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Im holding it? Sounds like an ass beating around the bush there friend.
How do you own bitcoin?
Some bank or exchange?!
Mined? With what value?
🤭
And you’re telling that just because currencies of modern economic is flawed, it’s the way it supposed to be?
See the argument is not against bitcoin or any other currency, but the argument is against inheritance of flaws when refactoring to a digital asset.
The only thing that makes the difference is that Uncle Sam can’t reach it as easily, but that’s about it.
Pyramid schemes evangelists as well, but doesn’t really serve all, does it?
The crazy thing is the equating of saving as *taking something from someone else* - when it’s the perfect opposite. Saving literally means to NOT consume resources, and leave what you produce in the economy for OTHER people.
You can always know which is the more honest route by how difficult it is. Saving is hard AF, spending is goddamn easy. It’s easy as shit to get what you want right this instant. It’s hard to turn away from those things, to buy the frugal option, to avoid the frivolous expenditures so you can have something for down the road.
And not consuming is literally the only means by which we can grow capital. Its axiomatic.
With this said, keeping Uncle Sam on a short leash does have its own benefits, but hardly an economic such, not when mothering somebodies loss to make a gain, as a scarce commodity makes.
Oh no?
Then why does the value sink when someone cashed out?
Who’s paying for that difference?
When someone sells a good, it’s price will fall according to its bid.
Is this an honest question because this could not be a more universal and utterly basic economic principle.
In grand scheme of things, same could be said about other market speculative investments, however, unless a currency is creating the value, I’m afraid the general dynamic of needing to consume, or needing more people to invest in bitcoin for its value to rise. Is not sufficient to serve the interests of people.
Not quite sure whether the demand and supply argument is valid when a scarce resource.
In regards of basic economics, consumerism is not a valid universal model with spending to be the primary measurement of productivity.
Now, again, we are not discussing the opportunities to make good money by trading bitcoins or any other market dependent currency, to be ahead of the curve, head to the gourd and all that jazz, however, that could be said about any currency or commodity, wouldn’t you agree?
It per definition, it is, just like any other form of pooling.
Remember time share?
Then this reminds me of the Egyptians and the actual pyramids, hence the word.
The Egyptians believed that if they would build something so heavy, it would simply overcome gravity and fall into the heavens.
Doesn’t by any means discredit the engineering marvel yet standing today next to that pussy cat.
This right here ☝🏻
Saved. For a frenOfAFren
The largest waterfowl 🤌 🫡
THE DOLLAR AINT SHIT BUT MY ZAPS ARE
So good! I want share with everyone.
This is brilliant. Please share.
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This is so retarded it hurts.
Sounds about right
😄 
🤯🤯
Sure, I'll zap that..
Calls Bitcoin a pyramid scheme.
Has Lightning Tips enabled.
Indeed 
Guilty as charged. 
Now that's some dense signal.
"Targets" 2%...
I mean... they tell us that...
Thank you for this bit, I appreciate how you explain it, for sure!!!
Theft is theft!!!!!!
💯We need YouTube reaction videos with these information to reach the people that need to hear it and not just the Bitcoin echo chamber.
Anyone orange-pilled that Oliver guy yet? haha.
Have you see the YouTube series Hidden Secrets of Money by Mike Maloney?
Nice job and I own Bitcoin for this reason. It’s good for ME.
Still, we know there is no free lunch in economics. What is the counter argument, ie in a fixed money supply economy, in which everyone knows that prices only FALL, what is the incentive for anyone to produce anything? Everyone might just sit around unproductively waiting for things to get cheaper.
Prices don’t fall if no one produces anything.
Not trying to be crass, but this is a little like asking what the counter argument to gravity is. It’s just reality, having sound money doesn’t mean there will be utopia, it just means the intervention is wrong and harmful. Sound money doesn’t result in perfection, it simply fixes one extraordinary and systemic problem we are causing for ourselves.
But to simply answer the questions, no, there is no new incentive toward malinvestment or sitting around and doing nothing.
Great explanation , thanks Guy!
You could make the reverse argument: suppose I exert a certain amount of labor (work a job, perform a service, sell a product, whatever). If I do it today, I get paid 100 sats. If I do the same work at some point in the future, and if we assume deflation is a fact of life, I get paid only 90 sats for the same labor. Conclusion: better to work hard today than wait until tomorrow.
Agree but that doesn’t answer my question about what productivity would look like in a fixed money supply economy, say a Bitcoin one. It seems like producers would be incentivized to make and sell immediately but consumers would be incentivized to delay purchasing. How would an economy like that function irl? Please explain it to my like I’m 5.
How long will consumers delay purchasing? Until the day we die? We can’t wait forever. Time is our most precious commodity.
To put it another way: i can’t wait until tomorrow to buy my food. I need to eat today. The same reasoning applies to lots of other things: I need a place to live today. I need clothes today. I need transportation today. Etc.
Even frivolous things: I want entertainment today. The alternative would be to make frivolous purchases … when? Never?
Imagine this #inflation 😢
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Kar je res, je res. Poslušaj ta video.
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That’s insightful. Maybe economists would say what you did as demand-inelastic goods and services would be purchased as-usual when needed.
Demand-elastic goods and services are what make me scratch my head. Maybe we’d rent those instead of buying.
Mind-bending!
Fiat economists often make arguments that only make sense if you ignore certain elements of the bigger picture. Example: the (flawed) argument that new technologies, like the cotton gin, are net bad for society bc they cause unemployment. This argument is flawed bc it ignores the fact that in the long run people shift to new jobs. If this were not the case, we would have observed unemployment rise every time new technology is introduced into society over the course of human history. Which means that after thousands of years of innovation, we should be at 99.99% unemployment by now, lol. Obviously this didn’t happen.
The inflation-is-inherently-good and deflation-is-inherently-bad arguments are similarly flawed. Yes, people will be less likely to buy frivolous stuff and more likely to save. Yes, that means some people who produce frivolous goods and services will lose their jobs. But no, that does not mean the unemployment rate will go up and stay up forever. Just like the situation with the cotton gin, the economy will adjust by shifting employment into more productive endeavors.
Think of it this way: under steady state conditions, inflation acts like a force to shift economic activity towards less productive endeavors. Deflation, on the other hand, shifts economic activity towards more productive endeavors. Which is better for society? Obviously the latter.
@Guy Swann Unfortunately, the majority are brainwashed to believe that the government will fix it! As they continue to vote the same system … the value of money is collapsing "Your dollar ain't shit" !
We need more Guys.. thank You for your hard work, also video like this one can instill curiosity in many new minds.. 🍀💜🫂☯️
Great video. The story of how banks worked out they could scam in the first place is fascinating. No one wanted to carry their gold and no one checking their hold. Welcome paper money receipts and lies on vault balances
Explained how central bank money work!
Why are the central banks crooks?
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Idk why, but I can’t see this. It stays obscured and I can’t click to open it. Perhaps w Iris when I go to my computer.
"They print, you work"
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Love this. One thing I have a hard time understanding is how borrowing would work under a bitcoin standard, can you help?
Simply:
• People wouldn’t borrow for projects that weren’t **actually** valuable.
• Things would actually be affordable and interest rates would be real, so consumer debt would be far more rare. Debt would mostly be a product for business and productive endeavors.
• People would actually have savings so not only would consumer debt be less available, it’s also be less desired.
To put it even simpler: The market would just find an accurate price for it.
People borrow money (on credit cards) for flights, clothing, food, even rent! Why would the currency change people’s desire to take on debt for those things?
The consumer debt for those sorts of expenses only got normalized in the 70s, it wasn’t nearly as common then as it is today. Debt is the norm because both the debt itself is being incentivized (price controls) and those things are more expensive than they would be on a sound money standard. Which is obvious because the high prices are a result of the former, debt is literally newly created money, so it has massive upward pressure on prices.
In other words, the reason everyone needs debt to pay for everyday things, is because debt drives up the prices of everyday things.
Doesn’t at all mean it all goes away, credit is a fundamental part of economic activity. But it won’t be anywhere near the prevalence that it has today. Don’t even need to go very far back in history to see examples of a far less debt ridden society and how people pay for things.
