Bitcoin isn't gold coins... it's the gold elementhttps://twitter.com/danheld/status/1097894882277056512 …
Show this thread
-
Any change to the 21M cap will turn into another ho-hum fork with marginal following.
That's by far the most likely outcome among current Bitcoin cognoscenti. But if you took a vote of macroeconomists, the vast majority would vote to change it to add inflation. That's what their theology tells them to do.
-
-
They know of nothing else, theology is definitely the correct word. Do you think the Austrian mind set needs to take hold more to ensure bitcoins future world domination? Or will it just become self evident, a la Gresham's Law?
-
Most needed: (1) and most important, factual, as free of ideology as possible, archeology-based (and to some careful extent based on traveller/missionary/ethnographer reports) study of origins and various histories of money, (2) the Austrian critique of central banker theology.
-
So essentially what you're saying is that your entire blog could be Masters' Level Economic Theory that would change hearts/minds.
-
It's a good place to start thanks!
End of conversation
New conversation -
-
-
-
Rational investors would indeed discount expected future inflation, which in central banker theology is in the 10's of % per decade & at infinity 100%. But most investors are still under the spell of the theology and thus not rational when it comes to investing in money itself.
- 3 more replies
New conversation -
-
-
Bitcoin, the monetary unit, is a mathematical set and as such is immutable. The only thing it can be done is to have the bitcoin ledger leave that mathematical set and point to another new one.
-
I believe it is crucial to economically distinguish between
#bitcoin the monetary unit (gold element), and bitcoin the ledger (i.e. gold technology: property rights, mining, minting, custodial services, etc).https://medium.com/@manuelpolavieja/the-inevitability-of-bitcoin-b689036dd346 …
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.