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323 sats \ 1 reply \ @SimpleStacker 18h \ on: Bitcoin is a Lie - Mike Brock bitcoin
He sounds hysterical. If this is what he thinks about Bitcoin, why on earth did he like it to begin with? To 180 on Bitcoin like this means you were either extremely stupid, extremely delusional, or extremely disingenuous. Take your pick.
But strip away the economic mysticism and here’s what “hard money” actually means: it systematically advantages existing wealth holders and disadvantages workers and debtors. It makes wealth accumulation easier and wage earning harder. It turns the economy into a game where those who already have capital watch it appreciate while those who work for wages watch their purchasing power erode.
This isn’t accidental. This is the point. “Hard money” is oligarchy with a white paper.
Also, this is just wrong. Fiat money empowers capital holders (holders of real assets) over wage earners (whose wages are denominated in nominal fiat).
Seems like if he was ever a real bitcoiner he would've understood this. So I'm wondering what he ever saw in bitcoin to begin with. Maybe he never really understood the monetary theory of Bitcoin and just liked it because of its associations (with Wikileaks and the like).
That would be consistent with this current piece, where he seems to form his opinions about Bitcoin based on the people who associate with it, rather than based on the properties of the thing itself.
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