godofleet t1_ius50np wrote
Reply to comment by sauerakt in FYI: PPL is Increasing their Electricity Rates by 18% to 14.612 cents/kWh on December 1st. This is up 53.78% YOY. by giggles-mcgee
this is the core issue even though people will ignorantly downvote it :/
100% the corps are price gouging and that's fucking greedy bullshit...
but if you look at the value of practically any currency vs gold over the last 100 years, they've all lost value, and it's all but directly tied to legal counterfeiting (supply inflation of the monetary good, in one word- debasement)
2% inflation = -50% net worth in 35 years. this system is designed to favor a class of people nearest the new/easy/free money, financial institutions, bankers, big corp execs... lobbyists...
this inflation is theft in the form of bailouts and subsidies for big corps
this is what happens when money is controlled by humans, corruption and entropy - what is your currency divisible by? money is a tool just like a yardstick but yardsticks are always 36" long ... your money is divisible by a question mark (no one knows how many dollars exist or will exist in the future...)
meat-based monetary policy is clearly inadequate and has proven time and time again to be catastrophic.
learn what bitcoin is folks, it's a separate track, a people's money. for the first time in human history we can opt out of that corruption and entropy at the heart of our monetary system- code [free speech] and math... monetary rules, with out rulers.
let the govs and corps jerk each other off until their money is worthless. opt out, learn about the peaceful revolution that is bitcoin.
steelceasar t1_iusf4oq wrote
So all of modern economics is wrong and crypto currency is going to fix everything? Instead of addressing systemic corruption through institutional change we should all invest in the latest and greatest magic currency system? Because it's totally not a ponzi scheme. You are getting down voted for posting this stuff because it is nonsense.
godofleet t1_iusgx68 wrote
>So all of modern economics is wrong and crypto currency is going to fix everything?
No, but humans have clearly corrupted/taken advantage of these systems...
Reality is "modern economics" is fundamentally theoretical in nature, we can either trust some people (federal reserve, their banking and corporation buddies) or we can trust some relatively simple code and math to ensure a stable monetary tool.
the fed just raised rates by .75 - think of what that does to poorer nations? to people already struggling to pay for energy...
think of WHY they're doing this - it's not just a pandemic 2 years ago, some ~5 trillion new dollars were added to our system.
>Instead of addressing systemic corruption through institutional change we should all invest in the latest and greatest magic currency system?
I'm not saying we shouldn't address systemic corruption, i'm saying we [the people] will be FAR more empowered to do so if the gov/corps can't just turn off our bank account overnight because they don't like what we're saying ... we'll have more economic/financial sovereignty and with it more power to hold politicians and private interests accountable.
>You are getting down voted for posting this stuff because it is nonsense.
It took me 5+ years of saying shit like that before i actually tried to learn what bitcoin was :/ are you sure you understand how it works and the impact hard monetary policy can have? The truth is you're ignorant as we all were...
steelceasar t1_iusk7ic wrote
>Reality is "modern economics" is fundamentally theoretical in nature, we can either trust some people (federal reserve, their banking and corporation buddies) or we can trust some relatively simple code and math to ensure a stable monetary tool.
So if this true then what stops the fed or whatever bad actor from just usurping crypto currency once it somehow surplants the existing system? Why should this new theoretical system serve people better?
Currency doesn't exist in a vacuum it is tied to global production, distribution, demand, and global events. Which you seem to understand, but don't at the same time since you think that somehow changing currency would alter this dynamic and empower individuals. I mean by your logic why don't we just do away with currency all together and trade goods and services directly?
I get that crypto is appealing and the interest in it has generated a profitable market if you wagered correctly over the past decades, but calling it a substitute for the current global system is naivety to the point of ridiculous.
godofleet t1_iusyehg wrote
>So if this true then what stops the fed or whatever bad actor from just usurping crypto currency once it somehow surplants the existing system? Why should this new theoretical system serve people better?
They can't. This is a fundamental point and function of bitcoin, no centralized entity/person can control it- (don't you think they would have shut this shit down by now? lol)
Updates to code involve a 95% consensus of network participants.... try getting 95% of people to agree on something this critical and tied to their personal value...
>Currency doesn't exist in a vacuum it is tied to global production, distribution, demand, and global events.
100%, but you're omitting a key factor... the quantity of units of the monetary good... if suddenly we add some ~5 trillion dollars to the system (giving some 4T to big corps no doubt) - that has a real economic implications for the short term AND long term... 2 years later each dollar is worth substantially less because there are now more of them available. CPI is a lagging indicator of this and the fed pulls the lever the other way... back and forth. They bail out the banks/corps, your dollar is worth less a few years later... they claim "we're reversing course to reduce inflation" ... they do it again for the next crisis... all while buying yachts and bunkers on the side.
>I mean by your logic why don't we just do away with currency all together and trade goods and services directly?
No this makes no sense, bitcoin has practically nothing to do with a barter economy. Money is a tool much like a yardstick, only bitcoin is a definitive 21 million and fiat currencies are a variable rate / unknown. Mathematically, scientifically, logically speaking, would you prefer a yard divided by 3 feet/36 inches or a question mark?
>I get that crypto is appealing and the interest in it has generated a profitable market if you wagered correctly over the past decades, but calling it a substitute for the current global system is naivety to the point of ridiculous.
I find it far more naïve and ridiculous that we would continue to trust other humans to orchestrate monetary systems for us when history has proven them incapable of doing so fairly.
Why rely on trust when we can rely on science, math, code, energy, and a consensus?
Rules with out rulers... it sounds like magic but it's actually possible, it has a 99.9% uptime since 2009...
Regardless, I don't expect bitcoin to substitute our meat-based systems for many decades or even centuries... in fact I suspect the fiat money scam will always exist in some form or another... it's besides the point... there's corporate money (ie- gift cards)... there's government money (USD, Euros etc) ... and there's Bitcoin... which i see generally as a people's money.
It's my feeling that as people learn what Bitcoin is, how it can benefit their freedom and privacy over existing monetary systems- they'll come around. But remember, it's a fixed supply... There will only ever be 21 million bitcoin and the "active" supply is dwindling (people aren't selling) ... It's just supply and demand... it's all happening in real time, you can even monitor/verify it yourself since it's a public ledger (good luck trying this with any other currency).
Anyway, some listening-
steelceasar t1_iut3ziy wrote
"Rules with out rulers... it sounds like magic but it's actually possible, it has a 99.9% uptime since 2009."
You are pretty much pitching a MLM scheme in the way you present this, which makes sense because your sources are a guy who makes his living off selling bitcoin to people and some random guy's youtube channel. Bitcoin doesn't mean anything if the existing financial actors prevent it from being used. Crypto was a gamble that paid off for a bunch of early investors and is now a glorified craps table, with a side of runaway energy consumption. It incorporates some interesting technology and has some philosophical implications, but its not revolutionary.
godofleet t1_iuta8og wrote
>Bitcoin doesn't mean anything if the existing financial actors prevent it from being used.
they can't, they won't... it's a trojan horse they can't resist... because it has better fundamentals than any other money our species has ever known, they will [and are] getting on board... they will probably abuse this adoption phase too, flip flopping "we're gonna ban it" to dump the price and buy in while it's low...
but it's besides the point, whether they abuse it or not, whether we hold them accountable or not... it won't matter because it's in short supply and I have little doubt that in time that will be clear.
regardless, you can buy/sell bitcoin like you pizza or weed... it's no different and you can be damn sure people will use it that way (and have)
>It incorporates some interesting technology and has some philosophical implications, but its not revolutionary.
I disagree, it's already banked millions of people who have been left out of the lucrative and exclusionary (see: racist/bigoted) financial systems of the west...
We have free to use, inclusive, global, digital cash now... that is a revolution beyond any our species has ever experienced... free of centralized control/corruption/entropy ... with every new discovery/tech there are early adopters/believers - people said the internet was for terrorists and pedophiles once...
consider:
sauerakt t1_ius9vc1 wrote
Great explanation and I agree but I'd like to 1-up you. Learn about Monero in addition to Bitcoin. Data is and has been the new currenc and tool for control. A public block chain of all transactions will only be used against the average person (while there are immoral people). Monero is the hard cash equivalent "private" cryptocurrency that has the current potential to fully disrupt the world powers. There's a reason Monero is the main cryptocurrency used on the Dark Net.
godofleet t1_iusfma8 wrote
🙏
i highly recommend giving this a listen- https://youtu.be/MXKe6VA-DVM
xeio87 t1_iut228h wrote
>but if you look at the value of practically any currency vs gold
Why would you look at the price of gold over the price of something like stocks though? Small amonuts of inflation promotes actually investing money rather than sitting on it, and that promotes growth of the economy.
godofleet t1_iut7jr3 wrote
why wouldn't you? gold has been considered the top form of money for millennia, stocks are a much newer thing (especially with regard to the masses) - and stocks aren't money... it's not a bearer asset, it requires trust in others and you can't trade your apple stocks directly for a house.
>Small amonuts of inflation promotes actually investing money rather than sitting on it, and that promotes growth of the economy.
i don't disagree with this, it makes sense... but is it worth the clearly inevitable human corruption and entropy?
if you had to build a house and someone gestured "1 yard is THIS long" ... would you roll with their hand signals or would you use a measuring tape?
but much more importantly, bitcoin has an inflation rate, it's by design, we don't need central bankers (influenced by big corps or governments or themselves) to orchestrate monetary policy, we can do it with code. bitcoin's inflation rate is around 1.6% https://buybitcoinworldwide.com/stats/inflation/ and steadily falling (in a long while to zero)
it emulates the mining of a precious and truly finite resource... unlike gold which has an ever inflating and variable rate supply https://www.spglobal.com/marketintelligence/en/news-insights/research/gold-rrs-2022-surge-in-recent-discoveries
most importantly, this idea that we need to spend to grow the economy- that's paramount - it's entirely unsustainable... it's the core driver of climate change... it drives producers to make the cheapest shit possible that needs to be replaced every year so they can make more profits... they want you to hate your money... invest it in Facebook, Apple, Tesla so they can buy yachts and fucking blow it on garbage products...
really, as a species we need to focus on the long term, 2% a year = -50% net worth in 35 years... we can't save for the future (we're literally guided/educated not too...) we can't support our kids or grand kids (let alone ourselves in many places) ... inflationary money is unsustainable and destructive...
here's a much more eloquent variation of my rantings lol-
https://calebfenton.substack.com/p/bitcoin-fixes-everything-because?s=w
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