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Every rich person in a fiat economy is obsessed with money. Not inventions, not art, not new frontier exploration, but money.
These are the people that in a sound money economy would be funding inventors, artists and explorers to create and conquer. They don't because they are forced to run on a monetary treadmill.
These are the people that used to devote their leisure not to hedonism, but to the finer things that build civilization. They knew something about inventing, art and exploring because that's what interested them. And they knew at some level that they didn't have the talent to go that far. But they could recognize talent in those areas and funded the people that had the potential to make inventions, create art and explore further than they could. So they would put their money where their heart was.
This is the real model of patronage, of funding real progress. Instead, we have rich people giving money to charitable causes that are better at throwing parties than at helping people. Fiat money has ruined the engine that has built civilization.
Your sound money economy sounds too dependent on a small number of wealthy people to be healthy.
Better fiat than return to feudalism.
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I'm anti feudal serfdom in all forms.
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Tick tock, next block. Idgaf about your gibberish words -- if you try to rob people, expect lethal force.
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And if you try to bring back the age of aristocracy and royalty, expect the same.
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No one is "trying" to do anything, just understanding of what is inevitable through voluntary action. 🤡
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You wrote "if you try to rob people" ?
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You are the one alluding to reinstating a violent government to rob people because you dislike what the wealth distribution or lifestyles of people may have some similarities to aristocracy.
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Yeah, I'm not getting this one, as if there wouldn't be people hodling under a hard money standard, not investing, not seeing the value in art or exploration of new things.
Fiat has a lot of malinvestment and weird incentives for sure though
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You are not getting it because YOU DO NOT THINK. 99% of investment is thoughtless nonsense by people who fear inflation. So you can see how the 1% of sincere investment magnifies its purchasing power 100x. It is extremely obvious. You simply are satisfied with mediocrity so you do not care to bear the painful truth of the extent of capital misallocation.
YOU ARE ARROGANT AND LACK CURIOSITY. BITCOIN WILL FIX YOU.
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So... you're saying we should outlaw rocks? For the children? I'm in! I'd like to subscribe to your newsletter, sir.
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IMHO it's not an eligible rebuttal.
Environment in which one grow up contributes a lot to whether someone grows up to be 'good' or 'bad' person. And this probably was the point of OP. Fiat environment will skew the distribution towards 'bad'.
If you have hard money that gives you robust saving tool, your attention can go away from 'running on a monetary treadmill just to stay relevant' towards other things.
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I'm interested in reading your new book. Fiat does ruin a lot of things but I wonder what your take (if it's in the book) on how its affected government structures will be. Your one talk mentioning the failure of healthcare.gov was both funny because of the levels of incompetency involved in such a critical project, and infuriating because I know I partially funded it lol.
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In my opinion bitcoin can fix governments. Government has be founded on volunteerism and the be conscious of how power corrupts. I think in the past under more sound money this was almost a thing. (Sorry not Jimmy)
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No. Bitcoin is not fixing govs. Bitcoin is making them OBSOLETE.
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great meme, some people probably 2140 ;)
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sadly is the truth not a meme, in your face, is what we are living already for centuries but NPCs do not want to see.
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FIAT DELENDA EST
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Yes. In 2019 I was very transparent at Beefsteak and Nik's carnivory dinner: I understand that bitcoiners have all the real wealth in the world and will be interested in sincere pursuits, that I came to understand bitcoin through the pursuit of a great, civilization-scale engineering project (succeeded) that was greatly slowed due to fiat foolishness, and that I wanted them to know that I knew then.
As I have gotten older, the idea of waiting to begun the real work pains me. After the lockdowns and lackluster response, I wonder how protracted adoption might be, and at the same time, I must confront my looming mortality.
There are objective truths to great works and that which must be done will happen regardless, though it does bring me some sadness I might not be able to be in the thick of it the way I was when we were first building this technology I allude to, blissfully unaware of the evil forces that lay in wait to stymy our work.
Billionaires today are mostly a rather pitiful, impotent, desperate, and aimless group.
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Most of the world richest people are still believe of the old way of money - Fiat. For them to care about innovation, they need to transcend to the new way of money ~ Bitcoin
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yeah we might have to drop our fiat pay walls and subscriptions
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