reply on: Starve the State, starve the banks, protect yourself, your privacy & liberty. v1 \ stacker news ~libertarian

21 sats \ 2 replies \ @pillar 28 Sep \ parent \ on: Starve the State, starve the banks, protect yourself, your privacy & liberty. v1 libertarian

Fiat will be printed. The printing will debase fiat holders.

Any printed fiat can be used to buy Bitcoin, or for anything else.

When it goes to buy and hold Bitcoin, it pushes the BTC/fiat price up. Thus, besides hurting fiat holders, you reward all Bitcoin holders with more purchasing power.

I will never disagree with printing money being an evil thing that worsens the world. But, if it will be printed, I can't think of a better use for it than to make Bitcoin rise.

I also see it as a peculiar implementation of Alinsky's fourth rule of his rules for radicals.

34 sats \ 1 reply \ @mf 28 Sep

It seems you are making the assumption that you are simply using the existing printing, which is not true. If you keep borrowing more fiat, you are increasing the print, not using the print, as you put it.

23 sats \ 0 replies \ @pillar 28 Sep

I believe that, for any given range of time, the printing has a top limit (on the infinite long run, there is no limit).

Western banks and other seigniorage institutions will only print so much in a year. They can't print unlimited amounts in that span, because they are still not Venezuela-grade dumb and greedy.

But within those limits, they will print. It's in their interest to print. Because of what you pointed out: they are looking for the interest on the principal they are creating out of nothing. So, that fiat will be printed to someone, for some reason. When it comes to retail loans, I'm pretty confident they don't give a flying fuck what its usage will be.

The way I see it, if don't take the loan offered to me, they will give it to someone else. So yes, I would agree with you that I'm making the assumption that I'm just using a part of the inevitable to-be-printed pool.