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Yes they are. Wars are funded via inflation. Bitcoin solves inflation by using computers to allow trading bottled energy online, thereby pulling the funding out

Yes they are. Wars are funded via inflation. Bitcoin solves inflation by using computers to allow trading bottled energy online, thereby pulling the funding out from under oligarchs.

sofixa 5y ago
> Wars are funded via inflation That's got to be one of the weirdest things I've ever heard. Inflation is a side effect of war, either due money printing to fund ( rare in non-failing countries, bond issues and loans are much more popular) or, more often, due to supply scarcity ( due to more limited trade, redirection of resources to the military, conscription of men for the army). Bitcoin does nothing for either scenario. Obviously it doesn't help supply, and no government would limit itself on monetary policy by exclusively adopting bitcoin; and even if for some reason they do, they can still emit bonds and get loans.
- A4ET8a8uTh0 5y ago
  That is actually.. a very intriguing ( yet horrifying ) question. Were there any studies of inflationary pressures pre, during, and after a war? My gut tells me it depends on the scale of destruction ( WW2 comes to mind ), but I don't remember reading anything on that subject.
  - sofixa 5y ago
    Hm. I'm not aware of anything specifically about inflation, but IMHO it would be very hard to compare due to the plethora of variables - e.g. rationing, destruction, death, all of which would be deflationary.
- kayamon 5y ago
  And what happens if the people can trade without requiring the governments or their monetary policies?
  - sofixa 4y ago
    They can't. Unless you limit trade to your immediate vicinity, you'd need government provided and managed infrastructure, customs and what not to trade.
    - kayamon 4y ago
      No you don't. If a guy on the other side of the world wants to teach me to juggle via Zoom, and I want to pay him BTC to do that, we can both trade that service directly without requiring a government to intervene.
Karawebnetwork 5y ago
>thereby pulling the funding out from under oligarchs Only works if the people have access to the technology. "As of December 2014, 1,024 IP addresses are known to exist in North Korea" "North Korea - Population 2014 - 25,057,793"
root_axis 5y ago
Trading bottled energy? What? That is a totally dishonest characterization, the energy is not "bottled" it it's burned and never again recoverable.
- kayamon 5y ago
  The coin is the proof that the energy was used. You're effectively trading how much you value energy.
  - root_axis 5y ago
    No, that's incorrect. The price of the bitcoin has no relationship to the amount of energy burned mining it; if this were true then Satoshi's wallet would be worthless.
    - randomhodler84 4y ago
      I think the price of Bitcoin does have a relationship to energy consumption. It’s obvious it’s on large time scales. And unless one has a very cheap energy source it will always be cheaper to buy from the market. So it’s a good in the ball park metric, the core issue to transfer value to old coins is that older coins grow exponentially more difficult to undo — so the fact that a few kilowatts could have mined many thousand coins in the early days does not decrease those utxo security and this value. There is an additive value of every block, and while head block at difficulty D virtually upgrades all the blocks before it to D, as you would need at least D+1 to undo just head-1, we build bigger defense walls every 10 minutes on average.
      - root_axis 4y ago
        > so the fact that a few kilowatts could have mined many thousand coins in the early days does not decrease those utxo security and this value utxo security doesn't matter - a unit of bitcoin that expended a fraction of a kWh to be mined is worth the same as a unit of bitcoin that cost hundreds of thousands of kWh to mine, thus the energy spent to mine a bitcoin has no meaning with respect to its price.
JumpCrisscross 5y ago
> Wars are funded via inflation This is such a weird claim. Did we not have empires and colonies and wars when the world mostly used metal for money? If anything, the world has been most peaceful since the fall of Bretton Woods. (I attribute none of that to our monetary system versus nukes.)

Yes they are. Wars are funded via inflation. Bitcoin solves inflation by using computers to allow trading bottled energy online, thereby pulling the funding out from under oligarchs.

sofixa 5y ago

> Wars are funded via inflation That's got to be one of the weirdest things I've ever heard. Inflation is a side effect of war, either due money printing to fund ( rare in non-failing countries, bond issues and loans are much more popular) or, more often, due to supply scarcity ( due to more limited trade, redirection of resources to the military, conscription of men for the army). Bitcoin does nothing for either scenario. Obviously it doesn't help supply, and no government would limit itself on monetary policy by exclusively adopting bitcoin; and even if for some reason they do, they can still emit bonds and get loans.

A4ET8a8uTh0 5y ago
That is actually.. a very intriguing ( yet horrifying ) question. Were there any studies of inflationary pressures pre, during, and after a war? My gut tells me it depends on the scale of destruction ( WW2 comes to mind ), but I don't remember reading anything on that subject.
- sofixa 5y ago
  Hm. I'm not aware of anything specifically about inflation, but IMHO it would be very hard to compare due to the plethora of variables - e.g. rationing, destruction, death, all of which would be deflationary.
kayamon 5y ago
And what happens if the people can trade without requiring the governments or their monetary policies?
- sofixa 4y ago
  They can't. Unless you limit trade to your immediate vicinity, you'd need government provided and managed infrastructure, customs and what not to trade.
  - kayamon 4y ago
    No you don't. If a guy on the other side of the world wants to teach me to juggle via Zoom, and I want to pay him BTC to do that, we can both trade that service directly without requiring a government to intervene.

Karawebnetwork 5y ago

>thereby pulling the funding out from under oligarchs Only works if the people have access to the technology. "As of December 2014, 1,024 IP addresses are known to exist in North Korea" "North Korea - Population 2014 - 25,057,793"

root_axis 5y ago

Trading bottled energy? What? That is a totally dishonest characterization, the energy is not "bottled" it it's burned and never again recoverable.

kayamon 5y ago
The coin is the proof that the energy was used. You're effectively trading how much you value energy.
- root_axis 5y ago
  No, that's incorrect. The price of the bitcoin has no relationship to the amount of energy burned mining it; if this were true then Satoshi's wallet would be worthless.
  - randomhodler84 4y ago
    I think the price of Bitcoin does have a relationship to energy consumption. It’s obvious it’s on large time scales. And unless one has a very cheap energy source it will always be cheaper to buy from the market. So it’s a good in the ball park metric, the core issue to transfer value to old coins is that older coins grow exponentially more difficult to undo — so the fact that a few kilowatts could have mined many thousand coins in the early days does not decrease those utxo security and this value. There is an additive value of every block, and while head block at difficulty D virtually upgrades all the blocks before it to D, as you would need at least D+1 to undo just head-1, we build bigger defense walls every 10 minutes on average.
    - root_axis 4y ago
      > so the fact that a few kilowatts could have mined many thousand coins in the early days does not decrease those utxo security and this value utxo security doesn't matter - a unit of bitcoin that expended a fraction of a kWh to be mined is worth the same as a unit of bitcoin that cost hundreds of thousands of kWh to mine, thus the energy spent to mine a bitcoin has no meaning with respect to its price.

JumpCrisscross 5y ago

> Wars are funded via inflation This is such a weird claim. Did we not have empires and colonies and wars when the world mostly used metal for money? If anything, the world has been most peaceful since the fall of Bretton Woods. (I attribute none of that to our monetary system versus nukes.)