131 sats \ 4 replies \ @justin_shocknet 5h \ on: Be careful what you wish for: Bitcoinization can and will have huge implications bitcoin
Prices trend toward their marginal production cost, that's 0 for dollars, with or without Bitcoin. Bitcoin is just a harmless place for devaluation to escape to, unlike real estate and other physical resources that get misused when monetized.
Assume more psyops like the fake pandemic for each leg of the global realignment that comes as a result, prepping is definitely its own rabbit hole of threads.
Bitcoin isn't supposed to re-distribute wealth, it's a Cantillon cure. Since the US already has most of the wealth it stands to reason it'll have most of the Bitcoin. Now, instead of us exporting dollars for foreign countries to buy back our assets, we'll have the Bitcoin to buy foreign assets... in productive ways, not via Cantillon shell games that reward the worst people.
Cope astroturfed by globalist bankers with no basis in economics, the pre-Fed times Bitcoiners should wax for was held up by tariffs which made it the the US the economic powerhouse of the world. Re-shoring increases supply and accelerates internal monetary velocity (destroys debt faster, replaces productivity taxes) making it deflationary. The Jawbone effect alone is already pumping the dollar and bitcoin at the same time which flies in the face of fiat economists. Less spent on imports -> more available to spend on corn.
Government hand outs to them are inflationary, deportation is deflationary -> more money to put into corn. Imported labor is not free labor, its just a perverse cost structure, properly incentivized costs increase automation -> deflationary
Another retarded fiat economist take, tax cuts on productivity accelerate velocity -> increase tax revenue
State banks were historically capped at 1-2% and lending was never causal to inflation, higher rates by the fed have been inflationary as the higher yield itself has to gets printed to be paid back to the lender.
Bitcoin exists to be wildly good for the world during this transition, just not in the way commies would think re: distribution
We're facing a confluence of deflationary factors, deflation is the natural state. Inflation has been manufactured to prolong an insider run system designed as a ponzi, Trump's election is the last nail in the coffin for that system which is why we're looking at civil war conditions.
Bitcoin was created as a place for those unneeded dollars to go without causing damage, the end game now is wages being what inflates, without creating a new real-estate / stock market / used car bubble that just hurts people without assets.
without going into every point...
tax cuts to an extent increase revenue. but only to a point.
i disagree that reducing trade with others, ie selling more stuff rather than buying it, will ultimately make the US more wealthy. money goes where it can be most efficient, and production of goods should be the same way
bitcoin is based on this same idea... it is global money that is everywhere all at once that knows no borders. earn it in one place, spend it in another that is one reason it is so great
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US more wealthy
"Stuff" isn't wealth, the ability to make stuff is. The means of production.
most efficient
And the globalist agenda manipulating supply chains with Cantillon impunity is extremely inefficient, producing things where they are consumed is a huge leap forward in efficiency and will dramatically reduce costs beyond the effects of being far saner policy than taxing productivity like is done now
Bitcoin
I think it was Erik Prince who recently pointed out why Bitcoin was needed for this because the dollar hegemon made trade partners have to try taking advantage of us, that will no longer be the case on a global Bitcoin standard
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with all due respect... I completely disagree.
Bitcoin is the greatest example of free trade there ever was.
There is a reason most people don't 'mine at home' or companies don't mine in high-electricity-cost areas. it's not efficient.
It would be like saying... you have to use Bitcoin where it's mined. that's not the way Bitcoin works. It can be mined 'anywhere' in essentially any quantities... and then used anywhere the user wants - usually where the value for purchases is the greatest.
I respectfully disagree with the idea that production that is 'local' is more efficient. efficiency is global trade where some groups are better than others specializing Bitcoin is no different.
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Not sure what you're getting at, Bitcoin isn't a good in the import sense... It's numeraire
Taking a bad comparison to goods however, given it's use is storage and transport of energy then it's already produced where it's used
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