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0 sats \ 2 replies \ @0xBTC OP 13 Jul 2023 \ parent \ on: Opinion: Why BTC can't become the reserve currency bitcoin
Yes, that would be a bad thing. Consumption brings innovation which raises the quality of life for others. It is not as simple as "growth in consumption/production=good" when you think about it from a humanitarian point of view.
Consumption brings innovation which raises the quality of life for others.
No, it doesn't. It only brings "innovations" such as FB/TW.
Less consumption means that innovators and entrepreneurs will have to scratch their heads to come up with actually useful things, rather than the current situation where their "innovation" is mostly garbage and VC money rains over them.
The main "innovation" we have now in the fiat world is marketing, behavioral economics and behavior control, to make people believe that they "need" the garbage that the "innovators" need to sell.
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This consumption does not only apply to social media. It applies to the medical field as well as reusable energy. It is better that we find a way to mass produce energy efficiently than to cut back on it by 50%, that would only stagnate progress of humanity.
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