Oddbean new post about login | logout Free markets are more productive because more ideas compete to provide value to you. A global free market equals faster deflation with every person in the world becoming wealthier as the productivity gains flow to them in the form of lower prices. But, that comes at a direct cost to those extracting value from the world through a control system that gains its power…..by stealing ours. Our world and each of us in it makes perfect sense. Just a mirror reflection of two different operating systems with the system you give your energy to, reinforcing your reality. The one based on coercion, control, and scarcity! An extractive model, preying on fear while the majority make it stronger (in their minds) by their actions within it. Or The one based on truth, hope, and abundance. A cooperative model - where we see that we are all connected. #Bitcoin and freedom tech. Choose wisely!
Booth providing clarity on what really matters, as always. Looking forward to getting my hands of a copy of your book, the price of tomorrow. nostr:note1e9wuc75j0xhpsky5h43zel0tcfgqkxfupl968maskwefjyycag0qlw84aq
If a project offered you more value than Bitcoin, would you talk about it?
What is your definition of more value? Ps - I know your comment is because you like another coin, but I do not think there is another “coin” that will survive. So besides having no value, it risks confusing people. IMO, no other “coin” is required. Bitcoin, lightning, liquid, Fedimint, Cashu, Nostr. The protocol stack is interoperable together and makes anything else just noise.
No, it’s not because I like another coin. I genuinely want to discuss first principles. If a layer 1 was fair-launched, POW, and faster block speeds than 10 min, wouldn’t this provide more value? Especially considering you have elaborated on BTC having a layer-2 problem if it isn’t adopted as a medium of exchange?
I buy BTC every week. I’m not interested in pushing another coin. I respect your opinion and I want to learn. If value falls to the marginal cost of production and technology is deflationary, is there room for another project to be fair-launched, POW, and have faster block speeds so it can scale on the base layer?
I don’t think so - the other protocols solve without the need for another coin.
So a layer 1 that’s fair launched and secure wouldn’t offer more value?
this is why @Jeff Booth is amazing. cool, calm & collected. /hat
Tricky to build a genuinely free market on a flawed foundation (fiat/"crypto")—it tends to carry over some of the same issues. That said, Bitcoin's base layer is about as fair as it gets, offering a unique chance to create something better. There's plenty of pushback, with claims like 'we don't need it' or 'it's just a scam.' But it's interesting to watch how it unfolds. The opportunity is there, though hesitation and propaganda are real obstacles.
There is a reason btc is capped; you lost me when you included scarcity as part of the coercion model, rather than a fact of life model that is every bit part of a free market system.
I never understood what a free market was until I heard you explain it. Thank you! My understanding is that in a free market, we are spend less energy and still gaining more wealth. This frees up our energy and we can use that extra energy to make our society and better place to live.
appreciation reply. I mentioned it elsewhere but you're the reason I'm here. I heard you on pomp back in 2020 or so. just clicked. Then you inspired me to dump X so here I am. enjoying the non toxic nostr weirdos. 😎
🧡💜🙏
Jeff, I love your work and find it a little two dimensional. Markets exist within legal frameworks, and we also have an obligation to pay attention to the legal framework to minimize corruption. In the US, corrupt corporations have taken over much of the government.
Ask yourself what legal framework could survive the manipulation of money (money is superordinate to law) and you’ll see why even the constitution and the first amendment is under attack. The “why” corrupt corporations and 3 letter agencies have taken over the government Is because of broken money.
Yes, the money is broken. Bitcoin offers economic strategies, and we also need political and social strategies. Social movements have created what is good in the world and are needed to defend the laws that are good from the corruption. We simply cannot give up in all other domains. There are social movements everywhere, though they are often invisible because the billionaire controlled mass media does not want us to get other ideas .Bitcoin is a social movement as well as a political and economic one.
Thank you Jeff ! We need this reminder as the chaos of the control system escalates daily . We are going to win ⚡️
Everytime we increase the circle of our market, globalizing, we meet with those already standing in the transition zone. They are the ones who are at the right place, at the right time. But their methods to gain wealth from the transition, and they may even convert some or all of it to power, like a surfer trying to ride the wave as long as they can, eventually, subsides. The cost of coming together is always increased by those who want to profit from it, rather than to give back to help humanity progress quicker in helping each other. We are like water. We are actually mostly water. And water has a way in winning over time.
i agree 100%
That hits the spot nostr:nevent1qqsvjhwv02f8ntsctz2t6c3vlh4uy5qtry7qljara7ct8v5ezzvw58sppemhxue69uhkummn9ekx7mp0qgsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcrqsqqqqqpwxyd2q
Very concise!
Shots on net!! 🏒
