21 sats \ 0 replies \ @Winitober 21 Apr \ on: Russia's Economy Thrives Despite Sanctions and SWIFT Removal econ
The measure of all this “expansion” is debt based fiat currencies. Therefore, all measurement of expansion are suspect. No one can measure anything.
this story is being actively suppressed on other social network sites.
the court ordered the disclosure of 30,000 Youtube user accounts to trap one Bitcoin trader who was exchanging fiat for Bitcoin without a money transfer license.
Calm down Erik. People got a chance to front run the institutions. While the SEC circle jerked I hodled. No 401k plan is going to add a Bitcoin ETF anyway because it’s considered high risk and would fail most governance boards’ fiduciary responsibilities. 401ks are where the majority of average people invest. Then there’s all the counter party risk over the last 15 years with these dumb exchanges.
Go outside and scream at the sun because it’s hot.
There are many super great lectures on mises.org. Old stuff from Rothbard and many others both new and old. I’ve listened to hundreds maybe even 1000s of hours of lectures.
I particularly enjoy Mises U. They have lectures and free content going back a decade or more.
You can also listen on Apple’s podcast service. Probably android too.
Matthew Kratter from Bitcoin U did an analysis of the situation. Saylor also makes a good point that what Bitcoin needs is stability and this desire to make radical changes isn’t helping. Bitcoin has a use case. It’s money. This drivechain idea is a solution in search of a problem. Let’s wait a decade and then see what solutions become available on layer 2 and 3. Many said that Bitcoin couldn’t scale without increasing the block size and look how Lightening and Fedi have changed the discussion.
Is there still massive overhead risk that we aren't factoring into the discussion enough?
Yes, a GIANT meteor.
Agreed, but you can be sure that the version of AI being used by corporate CEOs and Intelligence agencies will not be crippled versions of AI.
There will be classes of AI and only the overlords will have access to the most powerful versions.
Austrian economics isn’t an ideology. It’s a science. It is rooted in logic. Scientific inquiry seeks to identify patterns, laws, and causal relationships, and is self-correcting, as new evidence or observations can lead to the modification or rejection of existing theories. Ideologies on the other hand are often grounded in moral or political values and can be subjective or based on personal experiences, emotions, or biases.
Austrian economics creates a scientific framework of truth through which Bitcoin can be understood.
An important nuance.
Just a helpful comment for OP. PIA has this service available and I think they have a few connection option including the wireguard protocol.
For comparison purposes this is what they charge. Note that they also claim the ability to unlink your IP from the dedicated VPN’s IP.
$12/mo for a month to month
$2/mo for a three year commitment paid in advance.
There is no dark without the light and Bitcoin takes us from darkness into the light. There are two rules: stay humble & stack Sats.
As far as I am aware bail outs are not "banned". There have been some changes in policy following the financial crisis of 2008-2009. The Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in 2010, includes provisions designed to reduce the likelihood and impact of future financial crises. One example is the creation of the Orderly Liquidation Authority (OLA). This allows the government to intervene and wind down failing financial institutions in an orderly way, supposedly without relying on taxpayer-funded bailouts. The OLA is intended to prevent a repeat of the "too big to fail" scenario.
In addition to the OLA, Dodd-Frank also includes provisions that require banks to develop plans for their own resolution in the event of a crisis which are designed to ensure that troubled institutions can be wound down in an orderly way. For whatever that's worth.
There has been a shift towards the idea of "bail-ins" in some quarters. But, it's not really been tried on a large scale problem. The Jury is out on if it would help at all or just cause the contagion to spread quicker. I'm in the quicker camp but that's my $.02. lol.
I appreciate this explanation and I'd like to add a point of clarification to #9- #10.
For the five year olds... The less supply of money then the higher the price of money if demand remains constant. The price of money is the interest rate.
There is an inverse relationship between the price of bonds and the interest rate. If interest rates go up then the market value of the bond goes down. There is a duration mismatch between the long term asset (discounted $100 treasury bond) and their short terms cash obligation ($100) to SFB's customers.
The customers would be made whole if they were willing to wait until the $100 bond matures at its face value but their customer needed cash today. The customer's claims on money were not available since they'd been lent out to the US Treasury in order for the bank to receive a yield on their customer's deposits (#3).
This is a classic example of a bank run caused by a fractional reserve banking system.