Nice article. Interesting to think control of the state control of money is necessary (though not sufficient) for central planning to work.
Highlights the importance of privatized money aka Bitcoin
I still think the only argument against maxi is for those that want an income. I realize options on ETFs are coming online so this would be one way to do it. other than that you'll need some other investment(s), assuming one doesn't want to trade their labor forever.
"Which is why Bitcoin is an excellent idea. It fulfills the needs of the complex system, not because it is a cryptocurrency, but precisely because it has no owner, no authority that can decide on its fate. It is owned by the crowd, its users." - Nassim Taleb
The catch is the more the government "helps" they more people need the help.
Imagine the government "not helping". In return not taxing income or capital gains, payroll taxes, etc... There would be an epidemic of millionaires created, for those that save/invest.
The need for assistance would be greatly reduced and arguably private charities could even cover those needs (as used to be the case)
PSA: If you can afford to do so, you should consider investing for your heirs. The amount of capital needed to achieve good outcomes is incredibly small. For example (we'll assume 9.65% CAGR):
1. Someone from age 22 to age 60 invests $2,000/mo they'd have roughly $8,000,000 that is $912,000 of capital invested.
2. Someone put $32,000 in an account the day you were born. When you are age 60 it is roughly $8,000,000
Same outcome 3.5% of the capital invested. The difference is "unlocking" the extra 22 years of compounding lost while growing up.
So again, if you can afford to, consider investing for the next generation, then encourage them to do the same for future generations.
Does anyone sell bitcoin to just hold literal cash? You can sell bitcoin and invest in stocks or real estate for example, for diversification purposes or income-production.
It is arguable that there is still a place for investment (by that I mean, capital outlay in hopes of more capital in return over time) in a civilization and not simply storing all value in money. A prime example is in the case of needing/wanting a way to acquire more bitcoin. Bitcoin does not replicate itself into more bitcoin.
Traditionally stocks and real estate investments have been inflation hedges (perhaps not as good as bitcoin). In particular with real estate leverage via fixed income debt is method to capitalize on inflationary environments.
Taking your thinking to the extreme, every public/private company should liquidate into bitcoin and distribute it among shareholders. As you've said, owning businesses or other assets makes no sense, it is "pointless, wasteful friction"
I'm no techie, but satoshi said a payment processor could be hooked up to many many nodes and payments could be known "likely good" as quick as 10 sec (without lightning). why doesn't anyone do this?
I think everyone should get in the habit of zapping content creators here. Even at minor zap of $0.01 per view, with a "youtube" like audience, someone getting 15,000 views a video gets $150 or ~197,000 sats.
This is virtually free to the consumer and a meaningful amount of income to a creator, in the aggregate. Even at $.01 zaps per day is only $3.65 a year!
Remember: "a zap-a-day keeps the censors away!"
At this size ($1.5T) I just don't think a 1,200% gain in 1 year is in the cards anymore. those days are over.
$1M in maybe 8-10 years, which is still a super high 30-40% CAGR
All politicians do this.
The only viable solution is a less powerful government. Power always has and always will corrupt. No side is immune, therefore power should be as limited as possible.
Reduction in the size/scope of the government is the only way to maintain any semblance of freedom.
I personally do not see #nostr becoming mainstream any time soon. Don't get me wrong, I think it is superior, however there is no urgency to use it by the masses
Historically free, open, decentralized software projects have lagged greatly to closed for-profit centralized projects
The biggest value in nostr will continue to be as a safeguard. It is extremely important to maintain and improve it as it is a "check" that could very well be needed one day (same as #bitcoin)
That being said, I do think the potential is there. I'm not technical, only interested in privacy and decentralized projects. I stumbled upon nostr and was able to use it. It works.
#bitcoin #nostr #linux #selfhost
yeah these types of scenarios show the importance of nostr.
I would agree with you also in that it won't shift many to it. Most people do not care about KYC right now and that isn't reason enough to shift. they are used to it.
I don't agree that this is entirely true. I don't think the top 500 businesses in the world produce zero real return. certainly it isn't 100% real either but don't agree it is 0%
Over the last 5 years the M2 money supply has grown at a rate of 6.6% on average, the S&P 500 has grown at 13.4% on average.
Clearly inflation is a large portion of the return, but it isn't all of it. The stock market produces real return.
arguably it would be more favorable to your case just looking at the past 5 years as the money supply has greatly increased.
since 1960 M2 is 6.88%. nominal stocks are around 10-11%. so a real return has been made to the stock investor
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