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Bitcoin’s "ability"to stimulate economic growth is invariably an empty platitudewww.theamericanconservative.com/is-bitcoin-america-first/
200 sats \ 6 comments \ @bubbajimm 27 Mar bitcoin
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30 sats \ 3 replies \ @south_korea_ln 27 Mar
The most recent case study of Bitcoin’s contribution to American society was Sam Bankman-Fried’s FTX scandal. He operated his company in the Bahamas, outside the jurisdiction of U.S. law, where he manipulated and stole from his American (and global) customers while becoming the second biggest individual donor to the Democratic Party.
In that case, the economic growth Bitcoin stimulated was the growth of Bankman-Fried’s wallet and the war chest of the Democratic Party. The innovation it encouraged was in how best to fleece the American public.
That's an incorrect link. Bitcoiners despise FTX and what it represents as much as the author of this piece. Hence you cannot use that as a case study of Bitcoin's contribution (or lack thereof) to American society. SBF also was not a proponent of Bitcoin by the way, so the link also breaks down the other way.
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0 sats \ 0 replies \ @bubbajimm OP 27 Mar
https://www.coindesk.com/markets/2019/12/06/four-insights-on-crypto-liquidity-from-binance-us-and-ftx/
https://decrypt.co/57950/ftx-review-a-crypto-derivatives-exchange-for-seasoned-traders
They despise it now, but only after being fooled. There is a reason for its "success". Bitcoiners were there too.
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0 sats \ 1 reply \ @south_korea_ln 27 Mar
That being said, thanks for sharing. It's good to not always read the same circle-jerk of content.
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0 sats \ 0 replies \ @bubbajimm OP 27 Mar
No problem.
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10 sats \ 0 replies \ @SimpleStacker 27 Mar
The author didn't address monetary debasement once, or how sound money would rein in the excesses that have led to destructive behavior by the us government, including the financialization of the economy that he recognized as a problem.
I'm willing to hear arguments critical of Bitcoin, but this author hasn't demonstrated even the most basic understanding of its value proposition.
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0 sats \ 0 replies \ @harrr 27 Mar
Bitcoin’s "ability"to stimulate economic growth
Sounds like the author thinks that cancerous growth as fueled by endless fiat money printing/debasement is desirable.
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