Hiking rates while maintaining all the liquidity backstops that reward fiscal irresponsibility is not a credible anti-inflation strategy. It is a policy mix that crushes the private productive sector while protecting the sovereign-debt bubble.
Higher rates raise financing costs for households, entrepreneurs, and productive investment. Yet continued liquidity support, balance-sheet accommodation, and policies that absorb or shelter government debt preserve the incentives for excessive public spending and debt accumulation.
That is not monetary discipline. It is financial repression. Transferring the burden of inflation and fiscal excess onto savers, workers, and businesses while keeping the state’s debt machine alive.
The result is weaker productivity, lower real wages, reduced investment, and persistent monetary inflation.
@myriadcoinz@ParrotCapital https://t.co/Eb13KjbZzF
I don’t mind them trying. I just don’t think it will work. I’m more interested in zk roll ups.
They did censor on r/btc.
@myriadcoinz@ParrotCapital Larger blocks won’t be enough to scale for the world either.
I don’t think LN is perfect but it also works. But, neither can it scale for the world either.
Censorship was going on in r/Bitcoin and r/btc. Both sides were censoring each other.
It's obvious that is what he was doing and had a history of doing. But, people are trying to make it like a guy who used Gmail to discuss sex trafficking is Satoshi. Satoshi who, like every cypherpunk, used PGP.
And, they say he "took over" but they have no idea what. You say "pivotal point" which implies the blocksize wars.
The pivotal point was when Bitcoin backed Wikileaks bringing on the wrath of the US government. But, no one talks about that.
I'm giving an example of people using Bitcoin as uncensorable money. They can use whatever they want, but when their bank account was frozen they used uncensorable money.
Bitcoin is the only free market. There is no government bailout. Never thought the US government should use bitcoin as a reserve. They shouldn't use anything as a reserve with our money. Instead the central bank owns 2 trillion dollars in mortgages. That's socialism
@BillyM2k I feel like every Super Bowl half time should have an artist/band for every generation. The millennials would definitely take Jimmy Eat World.
@zerohedge I foresee more Bitcoin transactions will likely occur at Steak ’n Shake locations in Florida than transactions using gold or silver to purchase goods in the state.
Epstein donated $500,000 to MIT Media Lab and MIT digital Currency Initiative. Not to Bitcoin directly. This was in 2014. 5 years after the launch of Bitcoin.
MIT partnered with 3 core developers of Bitcoin. There was 0 evidence of technical influence from Epstein. The guy didn't know how to use PGP encryption.
Epstein was investing in hundreds of things. One of them being cryptocurrency. By 2014 Bitcoin was already resilient to state attack after they helped WikiLeaks.
In my opinion it was an oversight on who the sub donor was.