Oddbean new post about | logout
 3.125 is the minimum stacking goal from now on 
 Most people will be priced out of reaching that goal. That's like 700k US, thoon! 
 True that! Becoming a wholecoiner is already getting impossible for average working people 
 Sad truth for many. 
 Always has been 
 If you discover bitcoin today, you'd need a lot of conviction right away to throw 60k+ on this thing, because it's probably more than your yearly salary and you don't have that kind of money just sitting at your bank account.
At least that's the reality of the part of europe I happen to live in. Which is one of the wealthier places on earth. 
 Very true 
 I know socialism has rotted the brains of many Europeans but I hope people can overcome ‘unit bias’ and acquire a goodly chunk of satoshis.  
 Some will. Some will.

But the cross-section of "tribes" on twitter suggests there are oh so many that won't get it any time soon.

I'm seeing many calling for UBI many times a day. Engaging with them makes it clear that there is no way to make them see. And of course: "UBI isn't socialist and isn't dystopic and you pay taxes to get social benefits."

Also the other day I had a convo with a guy responding to a thread about how unsustainable the pension system in czechia is. I said it's important to keep at least part of your wealth outside of the system with no counterparty risk. "That's a good idea" he said "and what would that be?". It turns out he looked at bitcoin, but decided it's not the solution, the state is too powerful to "let bitcoin happen". My arguments about china unsuccessfully banning bitcoin at the peak of it's power and pointing out that bad demography won't help the state enforcement capabilities, especially in the fields that need high IQ enforcing. These arguments didn't make much impression, neither did the probability argument "I'm sure it won't be easy, but is the chance of bitcoin succeeding 0%?".

In a sense it makes me a bit nostalgic, because it still feels like 2016 when you talk about bitcoin with rando nocoiners these days.

"The state will never allow it to happen" - I aplaud you, govt brainwashing machine that is the mandatory school system, very impressive results indeed. 
 There could be only 6.7M people like that in theory ignoring already distributed and lost coins. How would that work with 8 billion people 😂