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0 sats \ 13 replies \ @CliffBadger 13h \ on: What Bitcoin Is: A Story of Two Mikes bitcoin
It's not shadow banking. It's the obvious play that every corporation should adopt if they care about money.
nah-nah-nah
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No? If you were CEO you wouldn't buy Bitcoin with 0% interest loans? You'd just go out of business instead?
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It's not 0%, but whatevs... I probably would, but that doesn't mean I/he "should" or that it's a good thing, for bitcoin or for the world (#1291642)
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It's a good thing because printing fiat to buy Bitcoin is what ultimately drives the purchasing power of fiat to absolute zero and confirms BTC as world reserve currency. It's not enough to warn about the flaws in the old system. Someone has to actively exploit them to prove the point.
And I disagree with the idea that an individual or company which does nothing except trade Bitcoin isn't providing a valuable service. They are. Treasury companies did the work of analyzing their balance sheet, so they chose the best store of value while everyone else chose wrong. It's perfectly fair for them to be incurring a gain in fiat terms.
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They're not printing money. They're printing shares, and in the process divert capital from the real economy. Financialization isn't beneficial, even if it's done in the name of approaching bitcoin nirvana
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The "real" economy means what? Every business except the one that takes Bitcoin seriously?
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the real economy, as opposed to the financial.
Strategy isn't taking bitcoin seriously. They're building nothing, achieving nada. Parasites, leeches.
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Really? It's not building unless you have mud on your hands? Your conception of achievement reeks of Marxism.
Simple math. If I earn $20,000 in a year, buy a Bitcoin, then do nothing for two years except sell it for $100k, while a nocoiner spent three years working to earn $80k purely from manual labor, the reason I ended up with more money than him is actually because I worked harder or at the very least, worked more efficiently. Because it takes mental effort to read the market.
basically, "do you create surplus or do you just move it around?"
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They didn't move it around just anywhere. They carried it across time so that people who prefer to buy late at a higher price can do so. Do you think investment gains and broker fees aren't a legitimate form of income? How far are we going with the Marxism?