@maxipleb As long as the idea remains that there are people left to scam, the incentives exist for scammers to scam. Note that at some point, it might be one big artificial circle jerk of scammers hoping for uneducated fools to enter. Arguably, this is already the case.
Hi Liberals!
Deflationary money like Bitcoin is WAY better for communists and socialists than inflationary money.
Think it through. Inflationary fiat money, with central banks constantly printing and governments constantly borrowing, doesn’t “help the little guy.” It hurts them:
•The wealthy own assets (stocks, real estate, scarce collectibles).
•The poor hold wages and savings in cash.
•When the money supply inflates, the rich see their assets pump while the poor watch prices rise faster than their paychecks.
Fiat printing is not “neutral” policy. It’s a deliberate wealth transfer from workers and savers to asset holders and debtors. A hidden tax on the working class and poor.
Now imagine a money that can’t be printed. A money where supply is capped, predictable, incorruptible. What happens?
•Wages retain their value.
•Savings actually store purchasing power.
•The rich can’t front-run with access to cheap credit.
•The state can’t inflate away your labor.
That sounds a lot closer to “worker empowerment” than endless money-printing schemes sold as “stimulus.”
Communists and socialists rail against inequality, but inflation is one of the biggest engines of inequality ever devised. Central banks are the politburo of capital.
So ask yourself:
If you really care about the working class, if you want money that levels the playing field instead of entrenching elites, shouldn’t you favor a deflationary, incorruptible money?
Bitcoin is the real “People’s Money.”
Ethereum is compromised because it uses proof of stake.
@LynAldenContact explains this well:
“[staking ETH] would be like a political system where you get a vote for every hundred dollars you have, and then also get paid a dollar by the government for casting each vote. Mary the high school science teacher with $20,000 in net worth gets 200 votes, and earns $200 from the government for voting. Jeff Bezos, with $200 billion in net worth, gets 2 billion votes, and earns $2 billion from the government for voting. He’s a more valuable citizen than Mary, by a factor of a million, and also gets paid more by the government for already being wealthy.”
Proof of stake is just a recreation of the abstract power hierarchies that already exist today. The rich get richer.
Bitcoin is reality’s immune system against that. In a world where nothing you see or hear can be verified, value must be anchored in something you can.
There is something very important happening in finance.
An entire generation of young people who grew up on the internet are now ascending to positions of power and influence. They have access to capital and they have technology at their fingertips.
The speed at which they receive information, analyze insights, and make decisions is different than those who came before them.
The appetite for risk, the pursuit of volatility, and the addiction to playing the game 24/7 gives them a distinct advantage. Add in the fact that many of them have a megaphone with reach previously thought impossible.
Faster, bigger, louder, more concentrated.
The internet generation has arrived to capital markets and things will never be the same.
It seems more likely than not that the 4 year cycles are over. Halvings are immaterial to trading float, 95% of the BTC have been mined, supply comes from buying out OGs, demand is the sum of spot retail, ETPs getting added to wealth platforms, and treasury companies.
New data shows Bitcoiners are built different.
INTJ:
2% of the population
29% of Bitcoiners
INTP:
3% of the population
22% of Bitcoiners
The rarest types dominate the #Bitcoin world.
sending bitcoin over bluetooth between bitchat android and iphone. both have a native cashu ecash wallet built in.
the ecash travels directly from phone to phone. the sender needs no internet. like instant and untraceable digital cash.
work in progress. it's going to be insane.
It actually breaks into 3 branches, the Cantillonairs, the nocoiners and the coiners. Nocoiners will and are the biggest group, and they will bear the full brunt of the money printers inflation. The real question is how long it takes all the cantilionairs to flip to becoming coiners? then comes hyperinflation, and bitcoin standard.