Great thread, inaccurate conclusion. #Inflation redistributes wealth from those holding non-indexed local currency assets e.g. cash and bond holders (including mortgage creditors) to those with local currency liabilities e.g. the government, mortgage debtors. https://twitter.com/paul_btc/status/1012353178116022281 …
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Replying to @Crypto_Macro
In usa universities do not teach economis. They teach bullshitnomics. Real economis is austrian economics.
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Replying to @SayHiToUrMom
Austrian economists, bettering the world and running countries since NEVER. Name 5 Austrian economists who were in charge of a country's Ministry of Economics (or similar).
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Replying to @Crypto_Macro @SayHiToUrMom
Why would governments select an anti-governmental (Austrian) thinker to a major governmental post? Do you measure someone’s success or truth based on whether government has ‘picked’ them or not? Clearly they’d support economists who favor government monopoly on money, etc.
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Murad, how would a btc economy after 30 years? Those who missed out on it would be at a disadvantage. Gold standard is deflationary isn’t it ?Btc is a great alternative asset class, but to say that it can enable a dynamic world economy is a stretch. It’s like buying manhattan RE
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Replying to @psycho_sage @MustStopMurad and
People thought they missed the train every year since 2011. Same story, different price and year. Even when at some point this becomes true you can always earn bitcoin by working or producing something of value. There is no "equal distribution" about anything, nor is it needed.
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Replying to @Halvening2020 @MustStopMurad and
So how will a deflationary economy work out for everyone? Bitcoin like gold is a bet against America, it has not worked for the last 100 years. Bitcoin will be a new asset class. Or a currency like Euro. I envision a multi currency universe
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Replying to @psycho_sage @MustStopMurad and
I don't think bitcoin or gold is a bet against America. It might be a bet against fiat money monopoly and political stupidity, and a great digital alternative to gold. Also I think it will co-exist with fiat, as gold has coexisted. Each have its own use cases.
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Replying to @Halvening2020 @psycho_sage and
Deflation is an issue for debt-based fiat systems, not for the deflationary asset. But people exiting fiat and entering bitcoin has the effect of inflation in fiat and deflation in bitcoin. They can coexist but the wealth transfer will be great.
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Replying to @Halvening2020 @psycho_sage and
Murad liked 2 out of 3 of my replies, possibly hinting at a "winner-takes-all" attitude in favor of
#bitcoin. Maybe that's why I'm following him!
But if this proves to be the case let's hope it is a (relatively) slow and completely non-violent transition.1 reply 0 retweets 0 likes
I think almost certainly it will be a very sudden and fast spike as big dogs rush to grab some BTC. “Slowly at first... and then suddenly.”
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