reedjosh

44 ms·

421.
by reedjosh 5y ago
> The fundamental purpose of law is to place limitations on the allowed behavior of other people. Maybe the problem is just a majority forcing a minority into their beliefs? I'm anti-government in general, so that _is_ my standpoint
422.
by reedjosh 5y ago
I think a large bit of conservative viewpoint today is that the government shouldn't even be involved in marriage. I don't at all care what you do with your life, and really I'd like it if you gave me the same courtesy. But,
423.
by reedjosh 5y ago
And they're all funded by ads. Between the need to access government figures for interview, and their funding sources, how could you ever expect straight forward reporting? If you aren't paying for your media sources, you're
424.
by reedjosh 5y ago
I paid a friend ~6 XMR to take out two 50' fur trees, I removed a sink and related plumbing for .3 XMR, and another friend paid me about .1 XMR as a thank you for hosting all within the span of a week. You have to find the directories
425.
by reedjosh 5y ago
It really isn't just the UK (or Ireland) though. Governments everywhere are slowly closing in on privacy and freedom. Unelected global institutions are rising, and their vision of the future is not promising. https://mises.o
426.
by reedjosh 5y ago
I can't really speak for them, but I keep seeing this in the US too. Individuals just don't seem to have any real recourse. These laws and systems are kafkaesque--there's just some system out there that determines the rules,
427.
by reedjosh 5y ago
Yes, but I'm thinking more of the we that are the losers in in the Gini coefficient. https://en.wikipedia.org/wiki/Gini_coefficient
428.
by reedjosh 5y ago
1. Closing the gold window Inflation benefits those that can leverage dollar denominated debts against inflationary hedges. Wealthy people with assets undoubtably can do this at a grand scale while the closest thing an average person can do
429.
by reedjosh 5y ago
Housing is one of the _very_ few ways a peasant can leverage debt beyond his means to hedge against inflation. There's no other way I could take out a loan for > $100k to buy an asset. Since leveraging dollar debts to assets is the
430.
by reedjosh 5y ago
Pretty sure the value of gold only truly fluctuates against fiat currencies. It's not the intrinsic value of gold that fluctuates. In Roman times the value of an ounce of gold would buy a handmade robe, belt, and shoes. At today's
431.
by reedjosh 5y ago
> simply renationalize the Fed and put legislated limits on dollar monetary inflation. Nothing simple about that though since the current system benefits the most powerful. This _is_ why bitcoiners treat it like a religion. There is no t
432.
by reedjosh 5y ago
Excepting that the `pie` that is the global economy of goods and services has grown significantly. So in this case, we're all producing more than ever, but not gaining any more than we used to.
433.
by reedjosh 5y ago
This misses that if there's a net benefit to asset backed debt, then the wealthy will gain from that the most. As in my example above, gaining 1% net benefit on a $250k house can never compare to billionaires gaining 1% on their levels
434.
by reedjosh 5y ago
I believe it's that and a much higher inflation rate than is admitted by a government that uses inflation as a hidden tax. http://www.shadowstats.com/alternate_data/inflation-charts
435.
by reedjosh 5y ago
It's not just that. For example, if I have a debt of $250k for a house worth $250k and inflation is causing a net benefit on my asset of 1%, then sure I'm gaining from the inflationary regime. But what of the wealthy that have bil
436.
by reedjosh 5y ago
What you describe has a name. It's known as the Cantillon effect. https://www.adamsmith.org/blog/the-cantillion-effect Between fractional reserve banking with no reserve requirements, https://www.federa
437.
by reedjosh 5y ago
Well, it is the BBC.
438.
by reedjosh 5y ago
> Basing the inflation definition on basic goods and needs at the time is a reasonable proxy due to their broad-based requirement by individuals But what of non-luxury goods that aren't included like housing? If the CPI is to measur
439.
by reedjosh 5y ago
The fed itself says we've already had 4.2% CPI the last year, and that's trusting the fed not to manipulate it's own metric. https://www.bls.gov/cpi/latest-numbers.htm The common mantra "When a meas
440.
by reedjosh 5y ago
I agree that it's nice if you have assets, but I believe for most people we can't have nearly as many assets and or connections as the wealthy. And for young people, they're basically priced out of assets by this system. _Thi
441.
by reedjosh 5y ago
> How much money do you have in dollars? Not much, in fact I try to remain leveraged via debts to hedge against inflation. But my salary is measured in dollars. I fought hard to get the salary I have today, but I must continue to ratchet
442.
by reedjosh 5y ago
And what of wages that don't increase along with the standard of living? The only reason we feel like our standard of living is okay right now is that the economy has grown substantially over the past few hundred years, but our (being
443.
by reedjosh 5y ago
Kind of need a way to measure peasant level income to total wealth available over time. Over the past several hundred years the 'pie' that is total economic goods and services has grown enormously. However, the share a median inco
444.
by reedjosh 5y ago
You're sure making a big deal out of remembering a seed phrase. The original point was > They do not realize that with that wallet if the wallet is gone so is the money. Wheras if the phone is gone, nothing happens to their money. W
445.
by reedjosh 5y ago
I understand the goal and all of the justifications of Kaynsian economics. I don't have a misunderstanding of it, but a disagreement with it. See Bitcoin Standard podcast and or book for more on hard money and economics under it. http
446.
by reedjosh 5y ago
Decentralized exchanges will prevent their ability to ban it.
447.
by reedjosh 5y ago
No, they can actually just memorize a seed phrase. The distress mode shows an entirely different wallet ID. So, you're wrong on both counts. https://en.bitcoin.it/wiki/Seed_phrase > However, the bitcoin key gen
448.
by reedjosh 5y ago
It may be fine for the faith in banking structures, but it's not that great it you like your dollars to hold value.
449.
by reedjosh 5y ago
In that case, bury a seed phrase somewhere like hidden treasure. The whole point is that a seed phrase is all that's needed to backup a wallet. It's akin to hiding money in your mattress, but less bulky. You could even memorize it
450.
by reedjosh 5y ago
Except the main benefit of BTC is really the lack of printability. Governments can't just make more of it even if they run the LN for their country. That said I don't think it will come to full LN centralization either. There are

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