Oddbean new post about login | logout Double Attack on [#Bitcoin](/t/Bitcoin) from the ECB and the FED. The synchronicity with which the ECB and the Federal Reserve attempt to discredit Bitcoin with two new papers—filled with arguments as strategic as they are fragile—is curious. ECB: In the document titled “The Distributive Effects of Bitcoin,” Ulrich Bindseil and Jürgen Schaaf assert that “Bitcoin does not increase the productive potential of the economy.” They go on to claim that Bitcoin’s alleged value stems solely from “speculation,” which is bound to “benefit early entrants at the expense of newcomers.” Basically, Bindseil and Schaaf have discovered the wonderful world of supply and demand dynamics within that mysterious entity called “the market”—perhaps too complex to grasp for those dreaming of a Soviet-style economy. FED: The Federal Reserve of Minneapolis doubles down in their paper “Unique Implementation of Permanent Primary Deficits?” suggesting that if Bitcoin became widespread, the government would no longer be able to generate deficits. “The government could simply make Bitcoin illegal.” The fallacies in the arguments of the money monopolists are addressed in a counter-paper that debunks the arguments from Frankfurt point by point. The new edition of [#BitcoinTrain](/t/BitcoinTrain) is now online! nostr:naddr1qvzqqqr4gupzqx67uaxlruf7hpw4f5mtcxdyrq85fn56em4696s3p7020xa34tnwqy2hwumn8ghj7mn0wd68ytn00p68ytnyv4mz7qg4waehxw309aex2mrp0yhxummnw3ezucn89uq3wamnwvaz7tmjv4kxz7fwwpexjmtpdshxuet59uq35amnwvaz7tmwdaehgu3wvdjhycmpw3ex7anp9ekk2tcppemhxue69uhkummn9ekx7mp0qqj4g6r994fhwctw94fk7mn894hkvt2rv4h8gunpdsk5yctwddej6v3sde4k2vcagamdm https://highlighter.com/a/naddr1qvzqqqr4gupzqx67uaxlruf7hpw4f5mtcxdyrq85fn56em4696s3p7020xa34tnwqy2hwumn8ghj7mn0wd68ytn00p68ytnyv4mz7qp9235x2t2nwaskut2ndahxwtt0vck5xetww3exzmpdgfsku6mn95erqmntv5esz7un0w
The funny thing is we have all become so desperate and reached the fuck it point. It wouldn't matter if they made it illegal. We would still use it without skippinh a beat. The occurances of boating accidents involving bitcoin wallets would become more common than car accidents overnight.
We still do care about it but Bitcoin doesn't!
As Bitcoin becomes bigger, it starts to hit and break through the "ceiling limits" others have put along the way, I called them layers. It disturbs those layers and so we get a reverb of what those layers are trying to do to either encourage it for personal gain or discourage it for personal gain. These are the layers that the players have squatted on for so long. For those who've jumped on the Bitcoin rocket, just grab the popcorn, turn around and watch as everyone tried to figure out what to do. It's almost surreal the network effect of this technology. It's how we know it's the next evolutionary step to bring us all together again, because we don't need to do anything extra other than stack. It's going to be a shitshow for those who refuse to learn this new tech and use it. We've seen it before. They are not left behind. but they don't gain from it, because we won't leave them behind, but they won't help themselves so they stay where they are at, weathering the storm. As a last note, any government may make Bitcoin illegal but as we've already seen, not all will. And just like the Bitcoin rocket can take people, it can take nations... We just move easily with our wealth to whom is accepting of us.