Oddbean new post about login | logout If fiat is constantly falling in value vs Bitcoin, and this usecase is not economically sound, they will necessarily run out of money.
The "donations" go directly back to them through some big miners, they play the arbitrage of dumb gullible money
This is what they are going for. From this they craft narratives for more fud, it's an attack in the most disingenious way possible. They know exactly what they are doing and laughing their ass'es off. https://image.nostr.build/560937a6daed0f4d2dd0c46a835133e4a8a9817f2324234822d7600c79a93cf0.jpg https://image.nostr.build/5ecc385010cd43596cbacd5fac94067567feb4a6056b0aecd622b986d2d2cc24.jpg https://image.nostr.build/d4e8c48116a1d2b7adc8a811ed03990179891fb7ba10ac133c7802807fa16b6e.jpg https://image.nostr.build/dbd0d4468268ad5830f1df0bd190e160d5a0ed8f602b001d6d99d6f65b72b043.jpg
Is it an economical use of hard money? If the answer is no, then it can't survive in perpetuity. In a truly free market based on hard money, only economically sound activity survives long term. They are attacking themselves.
Of course you are right, this does not change the fact that rare sats DO NOT EXIST. It's all based on lies from bottom to the top, essentially like communism. It's the same metaphysical concept where everyone has to lie and gaslight each other at all times to keep the scheme running. Otherwise it would collapse. It's a nightmare for privacy aswell, but be vary that your proposed theory is valid on a soundmoney standard only which we are not on.
I'm not disagreeing that it's a scam or dumb. I'm just saying it doesn't scare me or concern me. Bitcoin is much more resilient than some degenerate behavior. Hard money fixes this. This behavior would only be a threat if bitcoin wasn't hard money.
It does not scare or concern me either, I'm just absolutely disgusted by it. Imagine all that time spent on education of austrian economics instead
Fack me nostr:nevent1qqsvv0l59awvhtdcly0t7qq5fa6p02s60f8kvmfwse3qkgl7wj5gxjcppamhxue69uhkummnw3ezumt0d5pzqepgver6hy382nwut3lfdehkhujelntydp5qdf4k4tq3w40kcu5kqvzqqqqqqyma4mee
