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18 sats \ 0 replies \ @Wumbo OP 27 Sep 2023
Wumbo Rating for this episode is 18 out of 21.
As Peter mentions having a non-bitcoin fixes everything voice on the podcast was very interesting in my opinion.
TIMESTAMPS:
00:00:00 Introduction
00:10:57 Fractional risks to Bitcoin
00:22:53 BTC vs USD network effect
00:34:01 Is this time different?
00:45:37 Voting for bad economics
00:55:59 Change or exit the system?
01:17:47 Can scarcity create abundance?
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2 sats \ 2 replies \ @nemo 27 Sep 2023
forward sats to Jeff @03f89df6be
#120255
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21 sats \ 1 reply \ @Wumbo OP 27 Sep 2023
Didn't know Jeff was on SN. Thanks for the information.
I am out side the 10 mins, so I will have to forward them manually.
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0 sats \ 0 replies \ @nemo 27 Sep 2023
deleted by author
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0 sats \ 0 replies \ @kepford 27 Sep 2023
I think a great example to look at when thinking about the possible impacts and adoption of bitcoin is the internet. If you had told most people in the 80s about the internet and how it would impact the world they wouldn't believe you. Even in the 90s most wouldn't believe you. In the 2000s people started to get it but not really. In the 2020s we are still seeing how the internet is changing almost every aspect of culture and habits in normal people. Now, when you consider bitcoin I don't think most people are even close to understanding it let alone its impacts. We have a long way to go but it is going to impact every aspect of our lives.
What is most shocking to me about Gammon is his unbelievable faith in the power of the state. Its like he actually believes they can print money forever. Maybe I'm missing his logic but I don't get it. I think its simply status quo bias.
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0 sats \ 0 replies \ @kepford 27 Sep 2023
Wow! George believes the only solution is people voting for smaller government! Wow. Not gonna happen. He doesn't believe bitcoin will change people's priorities and our cultures but he does believe that people could have their minds changed and vote to fix things...
I don't see it.
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0 sats \ 0 replies \ @kepford 27 Sep 2023
I respect George's view of probabilities and tradeoffs but he has a huge status quo bias. Cultures change and power shifts. I don't think this happens as fast as many of us would like but it will happen.
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0 sats \ 1 reply \ @TomK 27 Sep 2023
I think George really gets it up to the point where BTC's incentive structure will have a massive impact of individual time preference that, developing a mass dynamic based behavioural shift, can impact the economy, society and its values like wanting a shrinking state, more individual liberty, family values instead of ever growing welfare states. This system is collapsing right now and trust in it and its parasitic leading class will be put on a test soon.
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0 sats \ 0 replies \ @kepford 27 Sep 2023
Yep. It is funny to me that someone seemingly knowledgeable cannot see a time where people have lower time preference. Our current obsession with credit and debt is not even 100 years old. 100 years ago people didn't have anywhere near the debt we have now. Even culturally it was frowned upon. Now, I'm not talking about a business needing capital to expand. I'm talking about buying a car. Buying house. People did save to buy because they could and because it wasn't common to go into debt to buy clothes... We are in an unsustainable debt trap. I don't think debt will ever go away completely but it will be drastically decreased when our money is no longer inflated and manipulated.
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