Oddbean new post about login | logout Fixed my internet after a week of not getting the parts delivered. There are cost to living in the middle of nowhere—still worth it, just can suck at times.
Reasons come first, answers second. 😅
But you look very healthy for it. So good trade off 🤙
Welcome back! I’d agree that’s a great problem to have.
Erik, help me figure this out... If all the btc gets sucked up into etfs and mstr, how do we have a bitcoin economy? What will cause the btc locked away in those things to come out and circulate? Glad you're back. Still reading your book.
They simply won’t. Many who hold their own keys will never platform them and at some point there is likely going to be different prices for fiat bitcoin vs bitcoin. Same game as before with gold, now with bitcoin tho.
Then they'll just continue to buy until all of the btc is in funds that never sell?
Pretty much, or whenever they sell they’ll get bitcoin scrips issued for the kyc system
Then fiat wins....
not if the sheep burn down the cities along with the server farms holding the secrets
That won't happen.
the specific causes maybe not but the general causes have happened and led to many collapsing urban settlements think of detroit, for one, a modern example... there are other, many other smaller places that have been abandoned over history because of economic reasons and it will happen again while the same principles are in play
the imperial cycle will apply, we are at the end of the age of the british empire, which i consider to have arisen out of the time that gave us the Statute of Monopolies and yeah that renaissance thing the influence of jupiter and saturn on us cannot be underestimated... specifically, creating a 400 year economic cycle that unravels an empire that has grown corrupt the last cycle also started with much the same influences, that gave us the reformation and the printing press and all that stuff, that is now at an end, and the systems that built on it have become overwhelmingly rotted
Any amount of money is enough to serve an economy of any size given it’s divisible enough, which Bitcoin is or can be at higher layers. No need to fud about people hoarding bitcoin. If people burning or losing their coins is not an issue then institutions holding large quantities shouldn’t be an issue either. If anything it’s good for everyone else.
I understand this. I don't have an address - living completely off-grid and unregistered. Living outside the system makes interacting with it a logistical nightmare (by design).
