lowkey

50 ms·

481.
by lowkey 5y ago
Yes, but you likely live in a first-world country with generous options for banking. Bitcoin can serve anyone anywhere, regardless if they live in a privileged country or not. Try using your USD bank to send/receive money as a citizen
482.
by lowkey 5y ago
This! Web2 = renter Web3 = owner Whether it’s Bitcoin, DeFi, DAOs or NFTs Web3 allows you to participate in owning digital property at the protocol layer. Imagine if you could have profited directly from your early adopter curiosity and pa
483.
by lowkey 5y ago
It really is a beautiful sounding instrument and I would argue the greatest musical invention of the 21st century. Here is a taste for the uninitiated https://www.youtube.com/watch?v=747hJQNJpeg
484.
by lowkey 5y ago
Think of Bitcoin as your personal reserve currency rather than a directly transactional currency at least today. You use Bitcoin as your store of wealth to transfer your life savings safely across borders. Then once safely in a refugee camp
485.
by lowkey 5y ago
“Central banks debase currencies to discourage people from hoarding cash and using it as a store of value instead of investing it into productive assets. So they claim. Could it also be that debasing the currency is far easier than taxation
486.
by lowkey 5y ago
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.“ - Satosh
487.
by lowkey 5y ago
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satosh
488.
by lowkey 5y ago
See my point above. If you can memorize 12 words crypto makes this possible. No other store of value can make the same claim. No hardware wallet is required.
489.
by lowkey 5y ago
See Bitcoin’s BIP-39. With crypto, if I can remember 12 words I can freely transport my life savings anywhere in the world and no government can seize my wealth without torturing me into giving up my passphrase. Can you share a similar stra
490.
by lowkey 5y ago
> As to your question about the other factors, here’s a thought experiment: if I printed cash daily but locked it up in a chest and sunk it to the bottom of the sea, will there be inflation? Going one step further: does inflation depend
491.
by lowkey 5y ago
> So the increase of money supply, taken as a measure by itself, is a meaningless number. The M2 money supply has been diluted by 40% over the past year. The population has not meaningfully changed over the past year. Official inflation
492.
by lowkey 5y ago
> The reason we aren't, at least for now, likely to see serious inflation due to the recent increase in money supply is because most of it entered the economy through the Fed's bond buying program. In what fairy-tale world do y
493.
by lowkey 5y ago
You are confusing cause and effect. Prices go up over time as measured in fiat because of monetary inflation (i.e. money printing) by the Fed which dilutes the purchasing power of the dollar. M2 monetary supply inflation coupled with the ve
494.
by lowkey 5y ago
The US dollar is inflating at 40% year/year as measured by M2 money supply and there seems to be no end in sight. The US government is considering minting a $1 Trillion dollar coin to keep this debt-spiral going a little longer. The id
495.
by lowkey 5y ago
11 years is extremely short? As for variance, yes sure over the short term but Bitcoin has 10x’d every other traditional investment on a long-term basis. You make long-term predictions based on things like scarcity, automated inflation poli
496.
by lowkey 5y ago
Most stocks do not pay dividends. If you do some research you will find that Bitcoin pays interest at rates higher than most dividend stocks. By your definition real estate, stocks and precious metals are also multi-level marketing since ea
497.
by lowkey 5y ago
Could you elaborate on what you mean here? How is Bitcoin multi-level marketing or a ponzi scheme?
498.
by lowkey 5y ago
Are you referring to the Chinese real estate market or crypto?
499.
by lowkey 5y ago
You cannot fix a broken system that profits the existing powers. The best you can hope for is to develop something so much better than the existing system that it makes the existing system obsolete.
500.
by lowkey 5y ago
Learning Defi from the Economist is like learning sex from a virgin.
501.
by lowkey 5y ago
I haven't changed my mind on Bitcoin. Ever since I learned about this scarce digital good with an automated central bank inflation policy that cannot be manipulated by any politician, company or government, I was on the bus. Now that w
502.
by lowkey 5y ago
Crypto is new and risky but 0% crypto allocation is most likely the wrong number at this point in the game. Just remember to start with an amount you are comfortable risking and then do your own research. It's really the only way to un
503.
by lowkey 5y ago
Shockingly content free article filled with FUD. The Guardian can do much better.
504.
by lowkey 5y ago
I think you need to defend your claim that inflationary monetary policy is a good thing. How is it good for the residents of a country?
505.
by lowkey 5y ago
Nope. 2400+ pages and I'm sure none of them have read the whole thing. Feels like the Patriot Act - written by who? read by no one. Huge implications on us all. Where is the money for this coming from? Further debasement of the currenc
506.
by lowkey 5y ago
Note that per the article, Nayib Bukele was not on the corruption list but Reuters still chose to use his image as the cover photo in an apparent attempt to smear the leader of El Salvador for the crime of offering his people the choice of
507.
by lowkey 5y ago
Per GP there were over 80 cameras but the pentagon, after years of calls for transparency shared a couple stills from one camera, so there’s that.
508.
by lowkey 5y ago
WTC7
509.
by lowkey 5y ago
> You are complaining that a currency is acting like a currency (inflationary) I challenge the assumption that a currency is naturally inflationary in nature. Though it is very tempting to politicians to print money and debase the curren
510.
by lowkey 5y ago
> Obviously they are only worth as much as we all collectively believe I agree, which means both fiat currencies and Bitcoin have no intrinsic value, only what we collectively believe. > BTC is more like gold this way than the dollar

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