“Economics” only seems complicated when viewing it through the same system designed to steal from you.

#Bitcoin


Only complex and mysterious enough to cheat everyone's wealth, the Ponzi scheme is the best representative.


“Economics”: The set of inconsistent rules that you can use to your advantage.


From: nostr:npub1pt89pppjzkz0cechfdhdfxxj7qelgwv2y20x09u98z9mfhj6gcxq93430z


Amen


From: nostr:npub1jrx2fk666k5nt8vgak9xwyxlgcwh8fl9rvpwvvcpdthuqkcnptrqdfhtaq


In most disciplines, there are two ditches on either side of the proper road to travel; one is making things out too simple, the other making it out yoo complicated.
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So much confusion out there is now clearer to me via using your “don’t measure a system from within the system” mantra.  Many thanks for the thoughtware upgrade.


Do you have an example(s) when viewed through another lens that makes it simple to digest?


If you measure in Bitcoin, all prices fall forever as prices fall to the marginal cost of production in the free market.

We only use things that give us more value. The market + technology compete to do so - and prices fall as a result.


Saturday morning post from the wizard, Ty sir


Fiat ponzinomics is a generational lie that became truth


don't think someone designed Fiat with a motive for stealing !  No one sat down in a conference ..  with agenda  - let us steal poor people's money !

It is all part of evolution .. btc is just better money. We need to go through the same  fin-tech revolution to reach #btc , where fiat is the starting point and btc is the maturity.  The question really is - can we sustain the sanity!  I say this because if humanity had stuck to "true" gold standard, then Satoshi wouldn't even think about bitcoin.  In fact we should be thankful to fiat economy for it incentivized creation of better financial rails.


Aka malicious obfuscation


No economic calculation make any sense unless you integrate into the picture the purchasing power of a single monetary unit.


Yes it's called Jekyll Island


Watch the documentary 'Enron: the smartest guys in the room'. It gives a good impression of the kind of handwavy math is being applied, thinking that the truth wouldn't eventually catch up. Then, knowing this, have another look at economics, and try to understand it without the fancy tricks such as the ones described in that documentary and e.g. documentaries on the mortgage crisis.
Once you get the basics, you'll find that all of the more complicated tricks are all forms of delays and indirection that try to make things work that shouldn't work in the first place. (Or forms of trade-offs between parties.) However complicated things get, there are basic underlying rules that must hold for things to remain sound and correct.
The "complicated rules" of economics don't change the inner workings. They merely add delays, indirections, etc., as-if traveling not on the shortest most direct route, but instead a suboptimal route with loops and awkward bends and directions.


Or when you're poor with no opportunities.


So true.  My eyes are wide open thanks in large part to the knowledge gained from listening to the growing legend that is @jeffbooth.

#Bitcoin
#Nostr

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Let’s do a little though experiment - you have 1m in cash, the rest of the world together has 1m (you are obviously very wealthy in this system with 50% of all cash). A further 1m of cash is injected into the system (to solve some fictitious problem) - your net worth drops to 33% instantaneously and everything gets 50% more expensive! Fiat clown world

nostr:note1mhj6hkmcedrdvvjnjt8hgls4j6q276m3wh997kw3av37w80k2e7qqzyuug


“Economics” only seems complicated when viewing it through the same system designed to steal from you.

#Bitcoin


Agree. Coming from many years in TradFi, the groupthink there is endemic. Have had "controversial" doubts and opinions since 2008, but took me far too long to properly alter perspective.


Sort of. To a degree. Of course, once we have a measuring stick whose length isn't being changed every 5 minutes we'll have access to better quality information. Sometimes prices will rise, as extraction challenges or manafacturing challenges, or sheer demand rise. That's the info that producers and customers need to make choices. Generally the prices will fall as we get more productive, but not exclusively.


:jammming:


Cfff


100%. Which imo is why the last people to grasp the transformative power of Bitcoin are precisely the people who’ve spent their lives trying to grasp the sophisticated lies of fiat money.


It’s insanely complicated.  I have taken an interest in economics recently (2020) by virtue of the Bitcoin lens, like so many others.  The language itself takes months to learn and the mechanisms of fiat are ridiculously convoluted.  Thank god for folks like Lyn for actually being able to tease out meaning in an objective manner.

I have come along far enough now to realize many things about this dominate paradigm of economic complexity, like maybe it’s complex for the fundamental reason it makes no sense.

Bitcoin fixes this, replacing economics as we know it with sanity.


From: nostr:npub1et992lckhexqczaspl43xw28cjpdncv8r220pwjty7utrf8lgpesyp2sxq


M2 and M3 matter. nostr:note1yv0cxwre3aa345znr9v4rlfmzn93p87zwvnth0y6vtgh32akdgvs5tye3k


From: nostr:npub1ym56klev354vx7gr47gtu2s6aahj4j7kn860ykw243adx0fqqrqsf6pdvw


Economics is only complicated when you select wrong teacher who is afraid to criticize government's mistakes.
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Henry Ford was right! (Revolution before tomorrow morning). This will be a change demanded from the millennials and a few enlightened boomers who want the world to be a better place. Exciting times!


That's because the apriori motives behind many of its branches was to ad hoc favorably explain the the tradeoffs of the government interventions.

It's pretty simple when your motive is actually pure learning with no biased orders.


The Enron documentary is of particular note as they did all kinds of things financially that they made up on the fly. Creating fictional profits where there was actual deficits for years on end and the market played along.


👇Worth Boosting Again👇
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Hey, nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe,

Hope you're having a great day.🙏😆

Happy New Year.😃💜😆🙏💯👍


Happy new year to you too!