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20 sats \ 4 replies \ @standardcrypto 21 Oct \ parent \ on: Minneapolis Fed's paper on banning Bitcoin to maintain "permanent deficits" bitcoin
"here are no markets that allow consumers to share this risk. But there is government stock that is risk-free. And there is a supply of useless pieces of paper (perhaps old dollar bills, or maybe non-fungible tokens) for which we will use the shorthand bitcoin.9 10"
"The shorthand bitcoin" eh
Your taxes dollars at work 💩🔥
I have a quick question. Why aren't the authors cleaning french fry machines at macdonalds?
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10 sats \ 0 replies \ @000w2 21 Oct
Why aren't the authors cleaning french fry machines at macdonalds?
Rent seeking parasites don't really understand the concept of work.
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0 sats \ 2 replies \ @028559d218 OP 21 Oct
basically the paper is saying... there or in another paragraph that the only 'risk free' asset for 'risk averse' consumers should be government debt. bitcoin cannot exist as the 'other' risk free asset as it breaks all their models.
as to your question... because they can type up what the government wants them to
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0 sats \ 1 reply \ @SpaceHodler 22 Oct
Government debt is no risk-free, it bears the risk of debasement. Bitcoin is risk-free, because it doesn't have that risk.
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63 sats \ 0 replies \ @standardcrypto 22 Oct
Nothing is risk free.
Bitcoin just doesn't lie about it.
It can't lie... it's a network protocol 🤪
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