Oddbean

Disagree. The global economy is a house of cards on the best of days as it stands. Introduce a new variable of the asset rich needing to unload illiquid holdings en masse the same time every year and you’ve got a recipe for total fukn carnage. Massive capital flight on announcement and massive unrest on enforcement. Throwing a randomiser on and giving preferential treatment to some at the expense of others would just be bonkers, like 100X volatility on already 100X volatility. Billionaires might as well just form private armies and go hunt the political class - it would be way cheaper. Then they’ll turn those forces on their business rivals.. It would be a government-induced version of an Ancapistan nightmare

I like your version, but I think the ability to pick up the phone and hire a Senator's nephew would defuse much of it. It would certainly be destabilising, funnel wealth into ever-smaller circles of financial giants, and wildly prone to partisan abuse. I doubt the Dems are remotely serious. This is a gambit they'll drop to get something else they want, surely...?

The Dems aren’t serious, but they’ve pushed their base so far left that their rhetoric has to reach into these psychotic places and that leads the usual apologists and talking heads to show their true colours. But if it did somehow come to pass, I’m confident my chaos theory would be much closer to reality than whatever the supporters envision would happen. The market distortions would be unlike anything we’ve ever seen. I make a point about the game theory of #Bitcoin going parabolic - the early HODLers sitting on thousands of coins are disproportionately black flag anarchist types, we’ve never seen those type of people amongst the upper echelons of the financial elite. If they truly believe Bitcoin could free us from Statism, what might they do with that wealth? Are the key holders protecting the Blackrock ETF safe in that world where there’s a multi-Trillion dollar bounty on their heads, 1 block away from permanently and irrevocably being under someone else’s control? A scenario of taxing Billionaires like this who already have those levels of wealth might be more manageable for the parasites, but by how much? Only takes 1 or 2 well funded rogues who calculate they’ve got more to gain flipping the table than playing by the new rules..

It's wild to me that you're on a Bitcoin-centric platform and you still can't conceive of how incompatible the global economy is with the notion of scarcity either real or perceived. There are no markets that could withstand scarcity, it's been so long since the dollar has been divorced from reality. That said, all that do is have to believe that the economy is thriving and it will thrive.

It's all fake. Derivatives, stocks, bonds, futures, all these financial tools based on absolutely nothing and backed by a lick and a promise. Bitcoin can't replace all that, it's not even compatible with it.