bitcoin

Meme Monday - Best Bitcoin Meme Gets 25,000 Sats

![MM NEW.jpeg](https://m.stacker.news/20052)

0b1CoinObi

***MM***\T has been debunked or disproved or whatever you would like to call it so many times it actually hurts

MMT, Chartalism, and the Colonial Experience

econ

> MMT poses two propositions: 1) that money originates according to the theory of chartalism, that is, money is essentially created and regulated by the state; and, 2) that only “monetary sovereigns” can employ MMT policies successfully. MMT’s favorite example of a “monetary sovereign” is the modern United States. (Both of these points are crucial for MMT, but their definitions and explanations are not within the scope of this article).

> The problem here for MMT is that the monetary history of the United States belies chartalism. Rather, the evidence from the monetary history of the United States demonstrates evidence for commodity monies that emerged through barter-exchange on the free market, especially silver and gold.

> The general tone of MMT writers toward the theory that money emerged through tradable commodities through barter-exchange is generally dismissive, implies fictionality, and even suggests that it is against historical evidence. Barter leading to a generally-accepted medium of exchange is commonly treated as an unjustified myth (cf. Graeber). ….

> Far from matching chartalism, gold (and other goods) already existed as commodity-money in a context of multiple commodity monies, which emerged through barter on a free market. The very first paper money scheme of the Massachusetts government only worked because of this fact. Massachusetts had failed in a yearly plunder expedition of Quebec and was at a loss as to how to pay the soldiers involved. After failing to procure a loan of £3,000–£4,000 from Boston merchants, the Massachusetts government decided in December of 1690 to print £7,000 in paper notes and to use them to pay the soldiers. What Rothbard writes next has particular importance for MMT’s chartalist theory of money,

>> Suspecting that the public would not accept irredeemable paper, the government made a twofold pledge when it issued the notes: that it would redeem them in gold or silver out of tax revenue in a few years and that absolutely no further paper notes would be issued. Characteristically, however, both parts of the pledge went quickly by the board: The issue limit disappeared in a few months, and all the bills continued unredeemed for nearly 40 years. As early as February 1691, the Massachusetts government proclaimed that its issue had fallen “far short” and so it proceeded to emit £40,000 of new money to repay all of its outstanding debt, again pledging falsely that this would be the absolute final note issue. (emphasis added)

> The Massachusetts government expected that the public would not accept fiat paper money, even if it threatened to tax them in that paper money, if it was not eventually redeemable in gold or silver (i.e., true money-substitutes, not fiat). This goes against chartalism. In this case, gold and silver were already money prior to the interventions of any government. In fact, the only way governments could gain widespread acceptance of their paper money-substitutes was because there was already a preexisting link established between the paper and the commodity-money. This is the opposite of chartalism, wherein people do not have money before the state creates, issues it, and taxes in it.

> Following this, Massachusetts realized that such an increase in the money supply—plus a decrease in the demand for paper because of lack of confidence that it would be redeemed in specie—led to a rapid depreciation of the fiat paper money relative to gold and silver, also driving specie out of circulation. Even when the Massachusetts government attempted to legally require that the paper notes be treated on par with gold and silver with compulsory par and legal tender laws, this did not succeed. Not only does this history not match what MMT requires to be the case for the theory, it also demonstrates that governments neither create money nor can they impose money on people and create demand for it. Governments, however, intervene in already-existing monies.

Wrekt!!! **MM\T** has been debunked or disproved or whatever you would like to call it so many times it actually hurts to see another article proving the basic assumptions of MMT are incorrect. The only reason MMT can continue to exist and is still used is that it is total apologia for the state to continue to rip us off through the use of issued paper debt notes. This, as Rothbard says, is an invention of those lively pilgrims of the Massachusetts Bay colony after the failure of a looting expedition to Quebec. Imagine that, they issued paper for the first time outside of China in Massachusetts! We did it and now **we** are the hero’s of the paper world, aren’t we? Aren’t we the ones with the “monetary sovereign”? Won’t we be able to continue on this path until the cows come home? 

Rothbardian_fanatic

@mmonam's bio

mmonam

define ''liquidity'' as M2(M1+deposits) and add assets that are used as highly liquid collateral like ***mm***

Short Info On Liquidity

GhostofTruth

MMT: Feeding the economically inferior machine

By Rudolph Kohn
> Even if we were to agree with the MMT advocates that MMT allows the economy to easily shift from privately-produced to government-produced goods and services, we still ask why people should be forced to purchase inferior goods.

Undisciplined

📣6.5 ***MM*** BOUNTY Completed!📣

📣6.5 MM BOUNTY Completed!📣

#Bitcoin core contributor Steven Roose completed @ZeroSync_'s bounty to implement a Bitcoin Script interpreter!

This was our largest bounty yet, paid out on lightning using keysend.
community.sphinx.chat/bounty/639

https://twitter.com/stakwork/status/1722325849201053986?t=jjodMXgjUVv5DFT3timHfQ&s=19


📣6.5 MM BOUNTY Completed!📣

spot

Wall Street just gobbled up 100K in 1 month. ... Of these, 50% are really for sale at prices < 300K.

2 Years (or less) toward Hyperbolic Price Shock - by  Fred Krueger

https://twitter.com/dotkrueger/status/1762635371236716954

2 Years (or less) toward Hyperbolic Price Shock
------------------------------------------------------

There are 19.6MM mined BTC
70% of them haven't moved in a year, and quite frankly not likely to move (lost, Satoshi coins, or in MSTR etc..)
= 5.8 MM possibly available to buy

Of these, 50% are really for sale at prices < 300K.
That's 2.9 MM BTC 

Wall Street just gobbled up 100K in 1 month.
Within a year, Hong Kong will Join in. And others.
We could hit 200K month drain.
No problem

That's under 2 years until supply is effectively zero.

Gentlemen, Start your Engines.



IgnaciobTato

📸 Fuji XT-30 II, f/4.0, ISO 320, 1/550, 40.7 ***mm***

räuber

Photography

This is räuber my cat
It means robber in swiss german 

![](https://m.stacker.news/51860)

📸 Fuji XT-30 II, f/4.0, ISO 320, 1/550, 40.7 mm

daum3ns

Thailand night market, Canon 750D + 18-55 ***mm***

![IMG_0003.JPG](https://m.stacker.news/20466)

Thailand night market, Canon 750D + 18-55 mm

photography

135mm film photography🎞️

muneomi

This is my ESP32 web radio (with host) inside an old cassette tape body.

ideasfromtheedge

BT e 3,5 mm saem.

![FB_IMG_1707622580114.jpg](https://m.stacker.news/15660)

UnknownFacts

and here below woman only (16-54yo only) with a 40% since Jan 2021 fredgraph.png ***Mm***,

FRED civilian labor force with disability - What does it mean for you?

charts_and_maps

Maybe isn't a new thing but, as Bitcoin, there's also this trend going up and look's like isn't stopping! How's that, since 2021 we have a massive 30% increase in people with disabilities[^1] since Mar 2020? Pandemic related? It's a fact, or just people claiming to be?

![fredgraph.png](https://m.stacker.news/21553)

and here below woman only (16-54yo only)[^2] with a 40% since Jan 2021

![fredgraph.png](https://m.stacker.news/21555)

Mm, maybe the population rise at the same rate[^3]?

![fredgraph.png](https://m.stacker.news/21556)

Not even 2% increase, so not really related with it! 

US workforce is going away, slowly, but constantly, and these numbers are going up too, exponentially! I'd be curious to know what it does means for you? 


[^1]: U.S. Bureau of Labor Statistics https://fred.stlouisfed.org/series/LNU01074597
[^2]: U.S. Bureau of Labor Statistics https://fred.stlouisfed.org/series/LNU01076960
[^3]: U.S. Bureau of Labor Statistics https://fred.stlouisfed.org/series/POPTHM


DMM Bitcoin Exchange Hack - Investigation by Mononaut

Rsync25

But don't worry: today's market makers (***MM***) shouldn't let anything fall too hard, at least in the morning

Michigan Consumer Sentiment Plummets

Stacker_Stocks

Michigan consumer sentiment (1st preview) came in awful: simply the lowest level since 1952, at 50.8. For comparison, the worst in recent years was in June 2022, at 55 points.
The inflation expectation for 1 year rose to 7.3% — this is the real world, not the Fed's world.
But don't worry: today's market makers (MM) shouldn't let anything fall too hard, at least in the morning. OPEX on calls is holding everything up, for now.

![](https://m.stacker.news/92175)

ValueStockX

Nummus Wallet MVP is now open source

TristanBietsch

***MM*** :: Monday Muse : Goood Moonday, creative stackers!

Design

# Goood Monday, creative stackers!
It's a great day to share those beautiful ideas you have been dreaming about during the weekend.

Share any innovative thought as video, photo or whatever other **functional** thing you want to share, just need to prove it came out of your brain with a minimum of PoW. The [top](?sort=top) one, will receive the 2100 Bonus next Monday. Have fun!

Zap zap and get some sats!



MM :: Monday Muse : Goood Moonday, creative stackers!

deSign_r

just hodlers just taking shit and getting abused by all ***MMS*** for a decade. no wonder maxis end up toxic

When did the 'bitcoin is not fair' narrative take off?

I've heard this one popping up more recently, I suppose it has become more popular with more NGU. I don't think I saw this narrative pop up pre-2024.

the logic seems to be when bitcoin price is down people don't care, then when it's back up, it's not fair.

Of all the wrong crap media says and no coiners say, i think find this one of the most retarded because bitcoin is one of the most fair things there is, anyone can get involved, at any price point, in any country, with as little as a dollar.
also, there wasn't a pre-mine. 

I also have never seen this mentality of 'not fair' applied to stocks or investments. nobody is telling goldbugs it's not fair they bought at a lower price in , say 2018. nobody is saying Meta and Apple stock isn't fair because people got in earlier. etc etc

it's one of the laziest arguments of them all because the people saying it don't apply their own 'fairness standards' to any other class of asset, just to bitcoin. shit, I don't even think I have seen media or 'experts' say eth isn't fair, and this would actually be a valid point for eth because of the pre-mine and the cost to stake.

just hodlers just taking shit and getting abused by all MMS for a decade. no wonder maxis end up toxic, it's infuriating.

when was the first time you guys saw people talking about how it wasn't fair, maybe it was way earlier and I missed it.

I wonder what new BS arguments will pop up as time goes on and BTC continues to grow.