Honest question - how would we handle Hurricane XXX recovery under BTC standard?
101 sats \ 14 comments \ @NachoKeys 30 Sep 2022 bitcoin
Trying to wrap my head around this.
We wouldn't be able to issue more BTC to help people recover or pay for reconstruction right? That's not possible.
Prices wouldn't adjust downward to account for increased demand for lumber, labor, steel, concrete etc. in short term. Plus the demand for disaster assistance initially would outstrip any market resets.
Hope other people donate?
F it, let them starve and figure it out on their own?
Genuinely asking as I'm trying to work out the mechanics of helping humans when natural disasters strike when we can't print money easily.
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10 sats \ 2 replies \ @ek 30 Sep 2022
I also thought about people working together during crisis without money as an incentive.
Can't people help each other without taking money for it?
Would soldiers not defend their country if it's attacked if they are not paid?
I feel like I still have no idea how the world works, lol
Probably never will
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0 sats \ 1 reply \ @NachoKeys OP 2 Oct 2022
No one works for free over long term. We're also not talking about 1 day volunteer efforts and some of the materials need to be paid for.
No company/industry is giving away millions of materials they have to pay people to produce.
It's kind of a pipe dream to have a capitalist society that does stuff for free, even for humanistic needs.
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0 sats \ 0 replies \ @ek 2 Oct 2022
Yes, probably a problem which emerges when scaling up. For example, I think in small communities, this approach does indeed work.
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5 sats \ 0 replies \ @0322ee777777 30 Sep 2022
There will always be an argument for printing more money, whether moral or not.
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5 sats \ 1 reply \ @nerd2ninja 30 Sep 2022
Lets start here https://permies.com/t/14103/People-Tornado-Hurricane-Zones-Build
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0 sats \ 0 replies \ @NachoKeys OP 2 Oct 2022
Cool, while we convert a nation of 350 mil to that, we still get a few Cat 4s/5s coming thru southeast. What do we do in meantime?
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10 sats \ 3 replies \ @ek 30 Sep 2022
Is stuff like this handled by money printing? Aren't there insurances and emergency funds (from the government) for this?
Honest question, I have no idea. Very good question, I also thought about this before but never really looked for an answer!
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5 sats \ 2 replies \ @nerd2ninja 30 Sep 2022
Emergency funds from the government is money printing. However, a consideration for taxes could also be made here.
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0 sats \ 1 reply \ @ek 30 Sep 2022
With emergency fund I meant money that is set aside for emergencies.
And yes, this could be funded via taxes.
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0 sats \ 0 replies \ @NachoKeys OP 2 Oct 2022
I struggle to imagine how long it would take to get a tax raise thru our political bodies. Desantis was against funds for NYC in 2012 but wants them now.
Money needs to be injected ASAP so to me tax raises not the solution.
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10 sats \ 1 reply \ @designsats 30 Sep 2022
Prices would always adjust down in btc standard. Yes, people donate. Also, under btc standard, people will have more than nothing of emergency savings. No need for money printing if affected community has hodlers
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0 sats \ 0 replies \ @NachoKeys OP 2 Oct 2022
Seriously? It will take decades to convert to BTC standard. In meantime there will still be natural disasters.
And most people would not have enough saved up to foot the bill for their own home repair or business structure rebuild. Don't see this as a viable solution.
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0 sats \ 1 reply \ @pi 30 Sep 2022
Just like under the current fiat standard, people would just get an insurance.
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0 sats \ 0 replies \ @NachoKeys OP 2 Oct 2022
Disaster insurance is underwritten assuming governments help foot some of the bill.
If that goes away......
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