101 sats \ 2 replies \ @faithandcredit 21 Jul 2022 \ on: Ukraine devalues hryvnia currency by 25% against U.S. dollar bitcoin
There is a popular belief that this is a legitimate devaluation because they are being invaded and need to pay for defence and they would be fucked now if they were on a bitcoin standard. First of all, aren't they fucked anyway? Devaluation only buys time. But on a bitcoin standard I think a majority of the population would be armed out of self interest and invasions wouldn't happen because it would be met with gun fire from every apartment window in the country and armies can't deal with that when we are talking about millions of apartments.
On point. People usually ask uneducated questions like "how would bitcoin fix this war?", rather than thinking the war would even exist in he first place. It's their time preference and time horizon messing up their own thinking.
I don't blame them, they're in the matrix and thats the only reality they know.
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Truer words have never been spoken. The Fiat disaster enforces high time preference thinking and prolongs conflict indefinitely, stealing every bit of wealth and value from the population.
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