npoc

22 ms·

331.
by npoc 3y ago
How can the value of work ever approach zero? Human work is value. The value of anything simply derives from the quantity and quality (demand/supply) of the human work that goes into producing it. In the current inflationary system,
332.
by npoc 3y ago
Ethereum is not proof of work and so ultimately won't be as good a store of value as Bitcoin. Any digital network that doesn't use the best store of value is not going to be able to compete with one that does.
333.
by npoc 3y ago
To understand why Bitcoin fixes the issue takes hundreds of hours of research - much more than I can explain here. Here are some good starting points: https://youtube.com/playlist?list=PL2jAZ0x9H0bQFY6wIbQfnrnIl... (listen
334.
by npoc 3y ago
There is no real cost of defaults. The money that wasn't paid back was created out of thin air with no effort from the bank. Money laundering is taking ill-gotten gains and processing them to make them look legitimate. This is exactly
335.
by npoc 3y ago
In a healthy economy, deflation (i.e. falling prices) is a good thing. Things get cheaper over time - it's the utopia we should be living in now. We've made massive increases in production efficiency across the board over the year
336.
by npoc 3y ago
The fix is already here, it's just a matter of time while we wait for the world to understand what it is. "I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is
337.
by npoc 3y ago
> You need a barn built? You ask your neighbors to help you build it, and promise them some grains or something in return. Boom. Credit (i.e. money) created from thin air. And the more the economy grows, the more this kind of debt is cre
338.
by npoc 3y ago
CPI is a useless metric. It doesn't take into that goods and services are going down in value over time (at around 5% per year), and doesn't include hard assets that retain their value such as housing. It's a trick. > Also
339.
by npoc 3y ago
I appreciate you filling in the details. > it gets richer when you pay interest in excess of its costs of providing you with money. Apart from the costs of running the bank, any other costs are simply what I would call money laundering
340.
by npoc 3y ago
All the fiat currency units in existence are a loan to a bank somewhere. That is over a hundred trillion dollars for the US alone. If you're receiving 2% of $100,000,000,000,000 each year, for money you printed out of thin air, you&#x2
341.
by npoc 3y ago
It depends heavily on which year of the 70s you look at (I was using 1974), but yes, it's true, at the very start of the 70s, houses were 3x the price they are now (measured in gold). http://www.goldchartsrus.com/charts
342.
by npoc 3y ago
Although a great deal of smoke and mirrors is used when justifying the banks unique right to print money, and it's easy to miss the wood for the trees as you get lost in the details, the bigger picture is quite simple: 1) the banks pri
343.
by npoc 3y ago
Capital gains tax is one of the more disgusting taxes. Most capital gains are simply due to the devaluation of the unit of account. The banks and government work hand-in-hand. The more money the banks print (as interest-chargeable loans), t
344.
by npoc 3y ago
It depends on the knowledge you have. Most people aren't aware that unless they are getting a 7%+ return on their savings, they're actually getting poorer every year.
345.
by npoc 3y ago
> Gold is just a random commodity affected by market supply/demand just like every other commodities (or bitcoin). Implying it's some sort of a "hard currency" or can be used to compare prices of goods/services&#
346.
by npoc 3y ago
The more money the banks print, the richer they get, with the side-effect that prices rise (they make the monetary units less scarce and worth less). 2-3% just happens to be the most they can get away with in the long term without the popul
347.
by npoc 3y ago
If money isn't proof of work, then that infers some people don't have to work for it.
348.
by npoc 3y ago
Bitcoin's main function is to shut down the central banking scam - to separate money and state. If BlackRock try to fractional reserve their bitcoin holdings, they will be risking a "bank run"-fuelled bankruptcy which are wha
349.
by npoc 3y ago
Cost of energy is irrelevant - the difficulty adjustment compensates for it. Anyway, unwanted energy will always be close to free.
350.
by npoc 3y ago
Any money first has to establish itself as a stable store of value. Only then can it be useful as a medium of exchange and unit of account. Look up Gresham and Thiers' Laws
351.
by npoc 3y ago
That's right. Ultimately it will always go up (over the long term) when priced in any other asset even if no additional net value is stored in it. Which of course generates more even demand. On top of that, every ~4 years the issuance
352.
by npoc 3y ago
They'd love to shut bitcoin down, but bitcoin's job to to separate money and state. All governments can do is try to slow it down or embrace it. And while one government is trying to slow down it's adoption, another governmen
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by npoc 3y ago
Bitcoin is not cRyPto or AI stocks. Bitcoin is a once-in-a-species discovery. You just don't understand it yet.
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by npoc 3y ago
yes, understanding how the blockchain works is only a small piece of the puzzle. Step 2: understand how fiat works Step 3: understand what money really is Step 4: try not to think about bitcoin every moment of the day
355.
by npoc 3y ago
You can word it as "believes in it", but I prefer to say "understands it". Belief suggests that you're basing your judgement on a feeling, rather than a scientific grasp of it's fundamental properties and how i
356.
by npoc 3y ago
An understanding of: - how fiat currency really works - the effects of that on the world - the fundamental properties of an asset that make it a good money
357.
by npoc 3y ago
Providing you keep as much of the bitcoin you mine as possible. If you sell it all for cuck bucks, you're not gonna make it.
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by npoc 3y ago
What's wrong with anarcho-capitalism?
359.
by npoc 3y ago
It's called supply and demand. If the demand for something drops to zero, so does the price. This goes for anything in the world.
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by npoc 3y ago
First, it appears laughable; second, it is fought against; third, it is considered self-evident It seems we're at the second stage

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