Thread by @minordissent

Why Bitcoin Fixes Everything

(thread)

A credit/debt based economy requires an inflationary monetary policy.

An inflationary monetary creates a credit/debt based economy.

If your principal costs MORE (deflationary) in the future, debt is a last resort

If it will cost less (inflationary), debt is a first choice.

THIS is why 80% of Americans are in debt.

It is not because EviL CaPitALiStS push consumerism. Sure maybe they make it is worse, but Consumerism and debt are the obvious, natural, and LOGICAL response to money being worth LESS in the future.

Even EViL CaPitALisTs are slaves to inflation. if all the money they make is burning away at X % a year, they have no choice but to expand and find more ingenous (and less ethical) ways to make money.

(If they wont do it, they will go out of business, and someone else will).

TANGENT (i come back in a few tweets)

As is typical, the left are the only ones to bring attention to a REAL problem

but for the same reasons (bc they are driven by what SHOULD BE over what is; putting morality over reality) always misdiagnose the cause

The conservative right, driven by WHAT IS (and accepting and protecting What Is ie the existing order), dEBoOnK the problem because muh stability and structure.

(This is why most smart people hate them and fight against them)

the autistic right (“why is it?”), due to their complete lack of interest in people, only things, are the ones who can see the problem but be emotionally uninvolved enough to actually diagnose it properly.

This ternary is how we have solved problems for at least 100 years.

The right says “how things are is working & we will protec it”

the left says “look at all these exceptions! your system is bad lets implement [stupid idea] to improve it”

The right fights them to protec order.

Only 1% of the stupid ideas that (by luck) are not stupid...

end up gaining traction.

(this is why society always moves left. “rightwing” is simply “stay same”. It never pulls things rightward. Only the collapse of stability due to blackswans or lefty “upgrades” occurring too fast forces society rightward)...

And it is only the autistic intellectual right (who accept reality as it is, unclouded by morals of how it should be) who can diag the problem accurately enough to invent a real solution (in the case of OP: Bitcoin)

(these same temperaments also invent things like communism tho)

libleft “forgets why the rules exist”
authright “follows and enforce existing rules”
libright “find/make new rules”
authleft “implement new rules through force”
various rejects “fuck the rules”

Something like that.

ANYWAY back to inflation...

DE-TANGENT

You cannot “fix” the incentives of the existing inflationary system. It is self perpetuating. the only solution is MORE debt, which leads to constant liquidations (recessions) which can only be fixed by MORE DEBT (combined w/ wealth redistribution to the top who hold most of it).

-Consumerism
-processed/low quality foods
-the commodification of culture and family
-environmental destruction
-incentive toward spending/debt instead of save
-spending trillions on military and war
-the ability for elite to extract resources from actually productive people

...

Are all either solely caused or massively exacerbated by a high time preference, debt economy that sucks all the productive output of the future and gives us its rewards now (and crosses its fingers in hopes we can just produce more by then)

All the contempt we have for boomers sucking all the resources out of the system

was no more on purpose or obvious at the time

As it is to YOU RIGHT NOW that YOU ARE DOING THE SAME

You will happily accept $1200 a month “for free”. Where do you think that money comes from?

“hur dur tax the rich”

Bro, 90% of government services TODAY are funded THROUGH DEBT only 10% through taxes.

you could “tax the rich” at 100% and you still wouldnt even be able to afford the services we have TODAY (in their shit tier and decrepit state)

All we are doing (and all we can do) is kick the can down the road, into more debt/money printing (both of which only exacerbate the problem) and hope some massive technological innovation comes in that allows us to grow our way out of it (like we did in WWII)

It would be the ULTIMATE solution if that massive tech innovation was an innovation on MONEY ITSELF that created a parallel economy allowing us to slowly move to it over a generation & rebuild a savings based system one block at a time, avoiding a collapse of the existing system

Man that would truly be the greatest invention ever! If only it existed!

If i ever found it, I sure would become INSANELY OBSESSED WITH IT and shill it to high heaven for the rest of my life.

Oh hey what is this #Bitcoin thing?

Oh and PS this is why no super power govt (US, china, etc) will never ban Bitcoin. Bitcoin is the innovation that they’ve been banking on for two decades, and as soon as they care enough to look into it, they will realize this.

GOOD DAE.

@threadreaderapp
pls unroll me so i can poast elsewhere

oops. meant to say “will ever” not “will never”