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arthur_affect's profile
Arthur Chu
Arthur Chu
Arthur Chu
Verified account
@arthur_affect

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Arthur ChuVerified account

@arthur_affect

Mad genius, comedian, actor, and freelance voiceover artist broadcasting from the distant shores of Lake Erie (he/him)

Broadview Heights, Ohio
arthur-chu.com
Joined August 2009

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    1. ₿itcoin ₿iohazard, protocol supremacist  🧬 🔬 ☣️ 🐝 🔑‏ @BitcoinBiology Mar 2
      Replying to @Tom_Scribbler @FrankBigTime and

      Austrian vs Keynesian debates are not my thing. Good question to ask @saifedean or @stephanliverahttps://mises.org/library/deflation-and-liberty-1 …

      2 replies 0 retweets 0 likes
    2. ₿itcoin ₿iohazard, protocol supremacist  🧬 🔬 ☣️ 🐝 🔑‏ @BitcoinBiology Mar 2
      Replying to @BitcoinBiology @Tom_Scribbler and

      To be honest I don't care about either definition of money based on norms and definitions of society. I'm a scientist, and the universal currency of this universe is energy. Bitcoin is backed by pure energy stored in unbreakable asymmetric encryption. laws of nature

      8 replies 1 retweet 3 likes
    3. Arthur Chu‏Verified account @arthur_affect Mar 2
      Replying to @BitcoinBiology @Tom_Scribbler and

      This is false Bitcoin is not "backed by energy" in the sense that other currencies are backed by gold You cannot take your Bitcoin and trade it back for energy -- a BTC does not entitle you to the megawatt-hours of the ton of coal it took to mine it It entitles you to nothing

      3 replies 9 retweets 93 likes
    4. Arthur Chu‏Verified account @arthur_affect Mar 2
      Replying to @arthur_affect @BitcoinBiology and

      This is why Bitcoin is pernicious, it's a meaningless token with *no underlying value* and *no legal rights or guarantees bestowed on the holder* And it does not *store* energy or *contain* energy the way ridiculous statements like this imply it does It simply *uses* energy

      4 replies 9 retweets 86 likes
    5. ₿itcoin ₿iohazard, protocol supremacist  🧬 🔬 ☣️ 🐝 🔑‏ @BitcoinBiology Mar 2
      Replying to @arthur_affect @Tom_Scribbler and

      "legal rights" - which legislation? Why would I need legal rights bestowed on me? This universe gave us unbreakable uncensorable asymmetric encryption. Across time and space, and fluctuating legislations. What is the underlying value of USD?

      2 replies 0 retweets 2 likes
    6. Arthur Chu‏Verified account @arthur_affect Mar 2
      Replying to @BitcoinBiology @Tom_Scribbler and

      https://www.law.cornell.edu/uscode/text/31/5103 … Come on Mr. Economist, this is basic shit

      1 reply 2 retweets 35 likes
    7. ₿itcoin ₿iohazard, protocol supremacist  🧬 🔬 ☣️ 🐝 🔑‏ @BitcoinBiology Mar 2
      Replying to @arthur_affect @Tom_Scribbler and

      what happened to the gold standard then ? what good is this promise outside of the USA?

      1 reply 0 retweets 0 likes
    8. Arthur Chu‏Verified account @arthur_affect Mar 2
      Replying to @BitcoinBiology @Tom_Scribbler and

      We stopped using the gold standard because fiat currency is better Being backed by the laws of the government of the country you live in is, in fact, the strongest thing any currency can be "backed by"

      3 replies 5 retweets 60 likes
    9. Scribbles McGee‏ @Tom_Scribbler Mar 2
      Replying to @arthur_affect @BitcoinBiology and

      This is the fundamental disconnect. I've said it twice now but it is just being ignored - money is a representation of the productive force in society. If you tie it to something that has 'true scarcity' then when you run out of that, the productive force in society stops.

      2 replies 0 retweets 4 likes
    10. ₿itcoin ₿iohazard, protocol supremacist  🧬 🔬 ☣️ 🐝 🔑‏ @BitcoinBiology Mar 2
      Replying to @Tom_Scribbler @arthur_affect and

      thats what FIAT governments teach history disagrees https://nakamotoinstitute.org/shelling-out/ 

      2 replies 0 retweets 1 like
      Arthur Chu‏Verified account @arthur_affect Mar 2
      Replying to @BitcoinBiology @Tom_Scribbler and

      Deflation causing recession is not at all controversial, there was even a very obvious microcosmic "natural experiment" that proved it elegantly within a very short period of time (the tragic case of the Capitol Hill Babysitting Co-Op)

      12:58 AM - 2 Mar 2021
      • 1 Retweet
      • 5 Likes
      • Eudora Quilt Kathryne, MFA dirtymarty Billy Scribbles McGee Arthur Chu
      1 reply 1 retweet 5 likes
        1. Volker‏ @herminghaus Mar 2
          Replying to @arthur_affect @BitcoinBiology and

          Deflation *in a fiat system* caused recession. It didn't under under a real gold standard (not promissory notes but gold coins)

          0 replies 0 retweets 1 like
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