I mean Satoshi and his buddies starting out were obviously hard-right-wing reactionaries so at least that made sense What confused me was all the kids saying they were fans of both Bitcoin and Bernie You know Bernie's hero is FDR, the guy who destroyed the gold standard
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And that these goldbug ancap types think of FDR as Satan incarnate and worship the dudes that FDR went into politics to fight Those misunderstood victims of history like Coolidge and Hoover
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I'm thinking back to some of the conversations I've had A lot of them were clearly with people who were just fucking stupid Like a lot of the "left-wing crypto" fanboys seriously thought what crypto is about is "magic money that anyone with a computer can make out of thin air"
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(This is the EXACT OPPOSITE of what Bitcoin is supposed to be for Ideologically, Satoshi DESPISES people who want to get "money created out of thin air", which is exactly what "fiat currency" is meant to be able to do)
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(The initial Bitcoin boom making people think that Bitcoin is some kind of magic that creates "value" by making your laptop's GPU go brr is the kind of nonsense that was always obviously going to lead to another catastrophic bubble Same as this Gamestop thing)
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("There's no victims here, none of us think we're gonna get rich, this short squeeze is just to stick it to the hedge funds and get some schadenfreude from people with a few thousand to burn" ...Maybe at first but it stopped being that as soon as you went viral on Facebook)
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^^^^ this x100 Open any economics history book about the 18th-19th century and read about financial panics, robber barons and deflationary death spirals
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Any examples of deflationary death spirals from 18th-19th centuries?
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