6 ms·

All fair. But there is no free lunch. The burden of the proof always lies with the person or the entity trying to sell something. The government failed to sel

by GDC7 5y ago

All fair. But there is no free lunch. The burden of the proof always lies with the person or the entity trying to sell something. The government failed to sell QE and bailouts to the population, the government further failed to sell inflation target at 2% to the population. Had government not failed in selling these concepts we'd not have bitcoin. Government as always can't sell. Otherwise it won't be government.

blacksqr 5y ago
>The government failed to sell QE and bailouts to the population I recall a recent vote where someone was elected president by a significant majority running on just this platform.
- GDC7 5y ago
  I don't think Biden campaigned for unlimited QE and unlimited bailouts In any event even if this was true an ambitious organization such as the government can't be satisfied with 52% confidence in its financial planning
  - blacksqr 5y ago
    We won't be getting unlimited QE or bailouts, so it's all good. As a democracy, there's no alternative to the government working with whatever majority it gets.
    - GDC7 5y ago
      > As a democracy, there's no alternative to the government working with whatever majority it gets. The government managed to sell the need for the military industrial complex. The military is the most popular branch of the Federal Governemnt whereas the Fed and Treasury linger at 50-60% depending on who is in the WH. 50-60% is very low, that's the reason why Bitcoin thrives. If that number was 92-95% then Bitcoin would not exist. Is it possible to have that number at 92-95% ? Maybe, maybe not...in any event the answer is not attacking bitcoin because even if Bitcoin is destroyed that remaining 50% void will be filled pretty quickly by something else.
worrycue 5y ago
It unfortunately that there is so much misinformation about things like the bailout. A lot of people think that the US government gave the banks free money when in fact it was just a loan of sorts that the banks had to pay back with interest. In fact the the US government actually made money from the bailout. > In total, U.S. government economic bailouts related to the global financial crisis had federal outflows (expenditures, loans, and investments) of $633.6 billion and inflows (funds returned to the Treasury as interest, dividends, fees, or stock warrant repurchases) of $754.8 billion, for a net profit of $121 billion. - https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#Impact https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#...
- GDC7 5y ago
  > It unfortunately that there is so much misinformation about things like the bailout If you are an organization with 6000 nukes, 22T GDP, largest navy and airforce you don't get to cry about "misinformation". People don't like QE and bailouts. Period. The burden of the proof is always on the person/organization trying to sell something. Always. For sure the public didn't conceive QE or bailouts and didn't try to sell it to the government. Bitcoin would not exist if QE and bailouts were marketed by master salesmen such as Steve Jobs, Dana White, Don King or David Geffen We as investors should operate with what is perceived by the population, not textbooks. Perceptions move the market, and in the case of Bitcoin perception created a market. From 0 to 2 trillions in 10 years.

by GDC7 5y ago

blacksqr 5y ago

>The government failed to sell QE and bailouts to the population I recall a recent vote where someone was elected president by a significant majority running on just this platform.

GDC7 5y ago
I don't think Biden campaigned for unlimited QE and unlimited bailouts In any event even if this was true an ambitious organization such as the government can't be satisfied with 52% confidence in its financial planning
- blacksqr 5y ago
  We won't be getting unlimited QE or bailouts, so it's all good. As a democracy, there's no alternative to the government working with whatever majority it gets.
  - GDC7 5y ago
    > As a democracy, there's no alternative to the government working with whatever majority it gets. The government managed to sell the need for the military industrial complex. The military is the most popular branch of the Federal Governemnt whereas the Fed and Treasury linger at 50-60% depending on who is in the WH. 50-60% is very low, that's the reason why Bitcoin thrives. If that number was 92-95% then Bitcoin would not exist. Is it possible to have that number at 92-95% ? Maybe, maybe not...in any event the answer is not attacking bitcoin because even if Bitcoin is destroyed that remaining 50% void will be filled pretty quickly by something else.

worrycue 5y ago

It unfortunately that there is so much misinformation about things like the bailout. A lot of people think that the US government gave the banks free money when in fact it was just a loan of sorts that the banks had to pay back with interest. In fact the the US government actually made money from the bailout. > In total, U.S. government economic bailouts related to the global financial crisis had federal outflows (expenditures, loans, and investments) of $633.6 billion and inflows (funds returned to the Treasury as interest, dividends, fees, or stock warrant repurchases) of $754.8 billion, for a net profit of $121 billion. - https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#Impact https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#...

GDC7 5y ago
> It unfortunately that there is so much misinformation about things like the bailout If you are an organization with 6000 nukes, 22T GDP, largest navy and airforce you don't get to cry about "misinformation". People don't like QE and bailouts. Period. The burden of the proof is always on the person/organization trying to sell something. Always. For sure the public didn't conceive QE or bailouts and didn't try to sell it to the government. Bitcoin would not exist if QE and bailouts were marketed by master salesmen such as Steve Jobs, Dana White, Don King or David Geffen We as investors should operate with what is perceived by the population, not textbooks. Perceptions move the market, and in the case of Bitcoin perception created a market. From 0 to 2 trillions in 10 years.