3 ms·

This is a smug take. Who do you think gets the benefit of the freshly printed fiat? In the central bank cantiollionaire system, there are three classes of cit

by hfsp 6y ago

This is a smug take. Who do you think gets the benefit of the freshly printed fiat? In the central bank cantiollionaire system, there are three classes of citizens: 1) jamie dimons, warren buffets and the like who get access to practically 0 cost lending rates 2) the ~60% of citizens with assets (e.g. stonks, real estate) that get pumped along with the money printer 3) everyone else What do you think happens to "third class" citizens? The rules are NOT the same for everyone under the central banking system. The rules ARE the same for EVERYONE with BTC. https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr959.pdf https://www.newyorkfed.org/medialibrary/media/research/staff...

SideburnsOfDoom 6y ago
> The rules ARE the same for EVERYONE with BTC. No, This is a very smug take from the "must be good because I got mine" BTC crowd. "Smug" practically defines them. Anyway congrats on some smug "whatabout fiat" https://en.wikipedia.org/wiki/Whataboutism https://en.wikipedia.org/wiki/Whataboutism
- hfsp 6y ago
  The rules of btc will not change and become a multiple-tier system because of your feelings. Sorry. I provided evidence (from NY fed) to your burden of proof request. All one can ask is to have the same rules for everyone. Equal access. No special privileges.No cantillionaires. If you are a cantiollionaire - good for you. If you are not a cantiollionaire, then wtf are you defending a clearly corrupt system that further drives inequality and perpetuates cronyism? Is it because you want to be the person distributing freshly printed fiat? Assuming your well founded intentions are to make the world less inequal via the money printer, the money printer has been proven to do the exact opposite. If you want to properly critique btc, you can argue that there is a one time cantillon effect until hyperbitcoinization. Then you can get into the discussion of what happens to the people who don't have any. You could discuss UBI or other social systems.

by hfsp 6y ago

SideburnsOfDoom 6y ago

> The rules ARE the same for EVERYONE with BTC. No, This is a very smug take from the "must be good because I got mine" BTC crowd. "Smug" practically defines them. Anyway congrats on some smug "whatabout fiat" https://en.wikipedia.org/wiki/Whataboutism https://en.wikipedia.org/wiki/Whataboutism

hfsp 6y ago
The rules of btc will not change and become a multiple-tier system because of your feelings. Sorry. I provided evidence (from NY fed) to your burden of proof request. All one can ask is to have the same rules for everyone. Equal access. No special privileges.No cantillionaires. If you are a cantiollionaire - good for you. If you are not a cantiollionaire, then wtf are you defending a clearly corrupt system that further drives inequality and perpetuates cronyism? Is it because you want to be the person distributing freshly printed fiat? Assuming your well founded intentions are to make the world less inequal via the money printer, the money printer has been proven to do the exact opposite. If you want to properly critique btc, you can argue that there is a one time cantillon effect until hyperbitcoinization. Then you can get into the discussion of what happens to the people who don't have any. You could discuss UBI or other social systems.