Bitcoin Fixes Everything
by Jimmy Song  nostr:nprofile1qqs8k0mcqd6sw3h524qn5gslszt9am9knmes3uh268dgnnpv3yfwj6q3f9zmx  
15 SEP 2024 #TBC2024

Fiat ruins everything
- Cronyism (the situation in which people in power give jobs to their friends)
- Corruption 
- Cantillon effects (e.g. Real Estate and certain stocks. They get the benefit from the printing money and use the Real Estate to keep its value)

Politics..
caused some people to gain all of that money 

Incentives
: what causes things to get ruin because people incentives to ruin things more than to build things
- Distortion of Prices
: Real Estate will much higher cost than it used to be 
- Decreased quality for subsidized products 
: e.g. Food stamps in US so you get decreased quality of food 
- Rent-Seeking opportunities
: All kinds of jobs in the economy where actually not providing much value at all. Steady jobs. Not much work. Mostly political skill that matters. 

Rent-seeking
: Being in the middle of some transaction that other people want to participate in and refusing them permission to proceed with that transaction until they pay you or get your permission
e.g. permit licenses

คุณ Jimmy ยกตัวอย่าง Chart Growth of Physicians and Administrators ที่แสดงให้เห็นว่า ตัวเลขคนที่เข้าทำงานตำแหน่ง Administrator เพิ่มสูงขึ้น 3000% (No value) ในขณะที่ตัวเลข Physicians หรือคนที่สร้าง value จริงๆ กลับต่ำลง และจะพบลักษณะนี้ในอีกหลายๆ สายงาน

นับวันผู้คนยิ่งอยากที่จะเข้าทำงานกับ Government มากขึ้นเรื่อยๆ นั่นทำให้จำนวนของ Rent-seeking เพิ่มสูงตามไปด้วย (Not contribute any value)

Hyperinflation scenario 
: people are constantly demanding raises because the Government want to stay in power 

Unfair
: Rent-seekers such as the health care insurance companies. They are third party and not in the transaction ซึ่งถ้าคุณจ่ายให้หมอโดยตรง คุณก็ไม่ต้องมาจ่ายส่วนนี้ และนั่นทำให้ประกันสุขภาพใน US มีราคาที่สูงมาก ทั้งๆ เหล่าคนพวกนี้ไม่ได้สร้างคุณค่าอะไรเลย

Rent seeking
- Drains talent
- Productive people become biggest leeches 
- Cheat code 
- Civilization screwed

Fiat mechanics
- Political connectedness not value provided (The political connected is the way more important)
- Gate-keeping (we do not get a lot of innovation due to the regulations)
- Extraordinary luck or personal connections (e.g. you are the son of the president)
- Once in, Political game

Increased Gate keeping 
(they stay forever and not letting the new people gets in)
- Investment banking
- Hollywood 
- Modern art
- Unions
- Politics (e.g. Joe Briden)
- Trend older 

Proof of stake vs Proof of work
With Proof of stake, people are not paying for the art, they are paying for the signature.

Ruining Merit!
- Rent-seekers
- Zombification
- Stagnation
- Regression of civilization (we are going backward)
- Wars of destruction (Ukraine, Gaza)

Fiat industries
- Don't want competition
- Like regulation/compliance costs
- No reason to innovate
- Keep positions by default 

Entitlement fiat mindset
- Politics
- Conservation
- Theft

Bitcoin sound money mindset
- Value
- Progress
- Merit
- Truth

Bitcoin fixes this. Altcoins don't fix anything!

thank you for sharing!
#tbc2024
#siamstr


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