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21 sats \ 13 replies \ @spiderman OP 2h \ parent \ on: Best Way to Improve Rust via Quant-Dev/Trading Projects? tech
Hey dude, you hang around here as well? I thought you only go to the Bitcoin territory
And what's wrong with trading to make Sats?
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He is a funny and good natured guy, just a bit abrasive and sarcastic.
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You are wrong, again.
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what's wrong with trading to make Sats?
Totally wrong. Bitcoin is proof of work, not proof of scam...
You MUST have proof of work in order to get the sats. Works hard, efficiently, productively, make something useful for the world and you will be rewarded with sats.
If you want to learn skills in programming, very good, but focus those skills in something good for the world and bitcoin adoption. Trading is not good, is just greed and scams.
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You are a pure ball of joy, are not you?
But how come you are hanging out in this territory? I thought you go to the bitcoin territory 🤣
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I am everywhere even if you do not see me.
I do not post in some territories because I DO NOT WANT TO FEED THEM.
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Okay, but regarding trading, you are wrong.
Traders, via their greed, bring price signal and liquidity to the market. The price signal is what makes price discovery possible. Pick up any book on market microstructure analysis, and you will see what I mean.
This has nothing to do with btc vs fiat. Price discovery is as important (or more) under a bitcoin standard as under fiat. You think the price of copper, zinc, oil or the proper derisking against their fluctuations are not important?
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No, are not important.
People can thrive without them. This is a wrong assumption that these speculations have something to do with capitalism. They don't. Speculation is not producing anything, just moving around fake volume of capital.
Do not get drunk with water.
There are more examples of people, producing grains and food and materials, that were fucked by these speculators on the "market"...
The price must be determined only by demand and offer, by how much a producer could produce in a year and how much demand of that product is in a year.
Not by speculators that can manipulate the price market by clicking some buttons and fuck up the producers...
I will use Bitcoin even if would be 0$. The cost in $ is meaningless.
Important is that somebody else is accepting it in exchange for other products and services.
Here is a good article from 2014
https://fee.org/articles/what-gave-bitcoin-its-value/
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Of course we can still use bitcoin. It has nothing to do with Bitcoin vs fiat.
The prices of wheat, corn, or copper can all be denominated in bitcoin, like kg per sats or something. But price discovery will still be not only desirable but inevitable.
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you are too blind to see the true path... The Force will never be with you.
I suggest you to learn more economy and read Mises before going to start that project.
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People van thrive without any price signal of iron, corn, wheat or whatever have you?
People can thrive without risk hedging for loan defaults from corporates or car loans?
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Please start producing wheat or corn and let me see how you will thrive producing, when some speculator will fuck up the price of grains on the market and all you will produce is more debt...
Then say again that these traders are "good"...
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