2/ A modern variant of European 'La Belle Epoque' of 1871-1914, when the peak of the Gold standard put some semblance of a cap on State power. Money is Power. Bitcoin is the Neo-Gold standard.
-
-
Show this thread
-
3/ Wars, wars on drugs, torture prison networks, mass Foucaldian panopticon-like surveillance machines, military-industrial complexes, prison-industrial complexes etc...
Show this thread -
4/ ...all become *significantly* more expensive if you have to pay punishers’ salaries with scarce gold bricks (bitcoin) rather than infinitely printable (read: stolen) fiat money.
Show this thread -
5/ For better or worse, systems like social security, medicare and medicaid will collapse as well. Thousands of commercial banks globally will collapse as well.
Show this thread -
6/ Cryptocurrencies make vanilla taxation, inflation taxation and fractional reserve banking either significantly more difficult or entirely impossible.
Show this thread -
7/ Prepare to enter a hypercapitalistic, hypercompetitive, decentralized, borderless world of unstoppable commerce, where the power of governments is cut in half, and the power of sovereign individuals is doubled.
Show this thread -
8/ Deluded people who use ridiculous and laughable terms like “post-capitalism” don’t know what they’re talking about. Capitalism is only just beginning. This is the first reemergence of truly ‘free markets’ since pre-Babylonian, primitive times.
Show this thread -
9/ Because as long as the State has a monopoly on money creation, no market is ‘free’. Cryptography is a weapon. Marxism is Totalitarian slavery. Capitalism is unrestricted Freedom.
Show this thread -
10/ Thankfully the fabric of reality itself is an anarchic, libertarian leaning structure at equilibrium. Nothing can ever be successfully top-down centrally planned in the long run. Only free will, human action and markets can point us in the direction of growth.
Show this thread -
11/ When (not if) some Asian central bank or a large sovereign wealth fund announces they put 5% of their reserves into a basket of blue-chip cryptocurrencies, the world will never the same again.
Show this thread -
12/ Bitcoin is a profound Economic Rennaisance, falsely wrapped in a Tech Bubble, itself falsely wrapped in a Get-Rich-Quick Scheme. The complete takeover success of cryptocurrencies is inevitable destiny. It is mathematically inescapable. Once you see this, you can't unsee it.
Show this thread
End of conversation
New conversation -
-
-
I agree, but worry about the transition. Change is traumatic, and no one knows the depth of the coming crisis.
-
No pain, no gain. Surely decades of malinvestment and hyperindebtedness will have to paid for by some upcoming losing parties. It will get worse before it gets better. But crypto will have it’s birthplace in the middle of the next big economic crisis.
-
Correct, crypto is the medicin, not the illness, but I insist we must pay attention and work to lessen the suffering. Otherwise we risk never seeing through to the other side.
-
My goal is to make a contribution towards making the transition *slightly less* painful.
-
Let's think critically here: Somebody who makes and sells Bread or Milk, or writes computer code at Google, won't suffer as much -- just accept new type of money. Somebody who creates money from thin air, and then lends it (Big commercial banks) -- will suffer.
-
Not so sure. In a deep economic crisis everybody but a few suffer: famines happen, wars are started, crime rises, people die. Re-routing the economy takes time.
-
You think the crisis will be *that* bad? I had a vision of an economic recession, but not famine-level.
-
The transition will result in famine, desperation and death for many. What we need is gradual change, let's not be quite so extreme. Fiat as bad as it is has immensely improved the standard of living for the world. Let's not get too carried away, let's aim for gradual change.
- 8 more replies
New conversation -
-
-
If a country is using hard money and is restricted a far as raising funds for emergency military spending they will be at a disadvantage against a country that is currently getting away with printing money to fund their military, right?
-
Unless there is a new invention that strips *all* nations of their currency monopoly at approximately the same time and approximately to the same extent. At that point taxation is the only way to raise funds, which is politically more difficult than stealth tax via printing.
-
At that point, if you raises taxes too much, you disincentivize your best and brightest of being / living / working / inventing / producing there. Governments are forced to then become more fiercely competitive to retain best individuals, otherwise they leave.
-
Bitcoin is both unprintable and increasingly untaxable. 200 nations could become ~5000 privately owned competitive microstates.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.