npoc

24 ms·

301.
by npoc 2y ago
Speculation of what? That it'll become the main world reserve asset and suck in all the stored value in the world like a black hole? Then, you're bang on - that's the only reason I hold it.
302.
by npoc 2y ago
Any energy usage seems like a waste if you don't understand the benefits. Bitcoins energy input is used to protect the monetary energy it contains from being stolen, by anyone. The value in the monetary units of fiat currencies is cont
303.
by npoc 2y ago
What is money if it's not proof of work?
304.
by npoc 2y ago
You're forgetting the transaction fees. Not only is the number of bitcoin hard capped, but also the transaction rate. As the network stores more and more value, the demand for transactions increases against a fixed supply, driving fees
305.
by npoc 2y ago
Bitcoin isn't the first form. Study bitcoin long enough and you'll realise it is the best it could possibly be (allowing for small tweaks, additions that don't change the underlying fundamentals) It's not what it first a
306.
by npoc 2y ago
Learn about money supply inflation and its enormous dilutive effects on the value of each currency unit. https://fred.stlouisfed.org/series/M2SL
307.
by npoc 2y ago
Why shouldn't it advantage early adopters? Back when bitcoin was $100, $1000, even $10000, it was far, far riskier than it is now. Those people buying it then were coming onto boards like this, only to be ridiculed and dismissed as sca
308.
by npoc 2y ago
The issuance, which is the main source of bitcoin for sale on the market (from the miners) is halving. value = demand/supply. It takes a few months for the supply reduction to filter through to the market, but then things get wild. Any
309.
by npoc 2y ago
yes absolutely. But it's been going strong for 15 years now, completely open for attack 24/7 and with an enormous bounty for anyone successful. And yet, tick-tock, next block.
310.
by npoc 2y ago
I'd like to hear how he'd kick the bad actors off the network. Bitcoin is fundamentally permissionless.
311.
by npoc 3y ago
Energy crystallized into a digital form is the perfect form of money.
312.
by npoc 3y ago
Once again you're entirely missing the bigger picture. Bank interest rates aren't paying for money - they're just paying for the banking system. The banking system doesn't provide money - it just provides credit, backed
313.
by npoc 3y ago
Real GDP uses CPI as a correction factor making it highly misleading. CPI is thoroughly flawed. It doesn't take into account that consumables are actually falling in value by 5%/year due to ever increasing efficiencies of producti
314.
by npoc 3y ago
Proof of stake is not really any different to the fiat system it's trying to replace. If a money isn't proof-of-work then it implies that some people can create it without doing work. Gold's proof-of-work stood it in good ste
315.
by npoc 3y ago
As I've seen time and time again from pepple with views like yours, you simply can't see the wood for the trees. Fact 1: The amount of dollars is continuously increasing, at a rate of ~100% per decade. The amount which it has drop
316.
by npoc 3y ago
> The money was "created out of thin air" is the loaning bank's debt to the account the borrowed money is assigned to, not the bank's asset, so there's a very real cost to them if the borrower defaults and stops
317.
by npoc 3y ago
As with most calculations in Keynesian economics, it doesn't take into account the devaluation of the monetary unit, at best it only looks at CPI which is extremely misleading. CPI is misleading because it doesn't consider the dev
318.
by npoc 3y ago
Devaluation of the unit of account is the main factor behind the confusing signals. If the thing you're measuring value with halves in value, all the measured values will double. If we take the dollar as an example, there's around
319.
by npoc 3y ago
Yes, the printed money (whose value is "sucked" from the ones in your pocket) is given to those closest to the money printer, and they tend to be the very richest in society. It's called the Cantillon effect.
320.
by npoc 3y ago
The governments and banking system work hand-in-hand, and the Cantillon effect takes care of the rest
321.
by npoc 3y ago
Jeff Booth with a great perspective (slightly over the head of the interviewer!): https://youtu.be/okDGQ-zU4sA
322.
by npoc 3y ago
Measuring US GDP in dollars is like measuring a shrinking table with a ruler that shrinks even faster each time you use it. Simply doubling the money supply will miraculously double GDP figures because you're measuring GDP in terms of
323.
by npoc 3y ago
There's no such thing as equity ownership anymore. The banking system has seen to that by slowly changing the legislation in every country around the world. https://thegreattaking.com/read-online-or-download
324.
by npoc 3y ago
Did gold fall or did the dollar rise? Define deflation
325.
by npoc 3y ago
Absolutely. The US government has the biggest short position on the dollar in history. They are at the mercy of the privately-owned Fed who could destroy them.
326.
by npoc 3y ago
You're missing the bigger picture too. Silicon Valley Bank didn't collapse - it was bailed out with unlimited money from the bigger banks. The only limitation the banking system faces is excuses to loan money (one of the reason lo
327.
by npoc 3y ago
Not if you borrow against your assets, using nominal gains to obtain more and more loaned money. That's tax free and with hard assets such as real estate, the nominal gains far outweigh the interest.
328.
by npoc 3y ago
Most importantly, it's measured using something that is halving in value every ten years. https://fred.stlouisfed.org/series/M2SL
329.
by npoc 3y ago
You're measuring GDP in something that's being devalued by half every ten years through supply expansion. https://fred.stlouisfed.org/series/M2SL
330.
by npoc 3y ago
There's an enormous difference between things you "value", and economic value. We probably value air more than anything else, but it's worthless. Economic value = demand / supply. Simple. It can be useful to think o

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