1/ My thoughts RE: “HODLing == free riding?” that @naval raised. Building on @real_vijay’s thoughts as well.https://twitter.com/real_vijay/status/1019804185334722560 …
When you exchange labor for bitcoins, that is your fair share of the total purchasing power at that moment in time. But any future *increase* in your purchasing power, must come from somewhere else, as it was not you who produce that extra value.
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That value comes from the production output of others. That is by definition, free riding. The more you hoard & the less you work, the more of a free rider you are.
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(Again, I’m talking about late-stage Bitcoin, not now, as HODLing is crucial early on.)
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