Article got me thinking \ stacker news ~bitcoin

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325 sats \ 5 comments \ @crrdlx 17 Nov bitcoin

This article about Brian Armstrong got me thinking. It teases that he has ideas for Elon's D.O.G.E. At first I thought he was going to propose some kind of meme coin, but kind of the opposite. His ideas are to cut spending and incentivize both citizens to hold and lawmakers to cut. Also, suggested a constitutional amendment to cap spending. I love that, though it'd never pass (that's like getting a crack addict to agree to only one hit per day). Still, I like the outside the box thinking. It's probably not perfect ,but anything is better than how it's been done for decades I'd say.

The incentives for citizens to have a stake in national savings got me thinking. Would people go for that? Would people say yes to bitcoin and no to a government check?

Those dumb $1200 covid checks from March 2020, if given in BTC then (which was around $7000 then, yes, 7), would have been about 0.17 BTC. If you asked people, "You want $1200 or 0.17 BTC?" I'll put the over/under at 98% saying they'll take $1200.

Oh, by the way, that 0.17 BTCwould be worth $15,400 today.

https://u.today/coinbase-ceo-makes-intriguing-offer-for-elon-musks-doge

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36 sats \ 3 replies \ @zapsammy 17 Nov

if people had the option of having free stimulus BTC without doing he work ("i suffered, i deserve this" does not count), they would lose the sats and/or spend them on useless things, perpetuating the system of consuming & creating trash.

only by doing the hard work one can figure out, intelligently, where and how to allocate the hard money.

21 sats \ 2 replies \ @crrdlx OP 17 Nov

Yup. The "gimmies" don't work. Like you say, most handout sats would fly out of those folks hands. But, in a way, they'd eventually wind up in the hands of somebody who put forth work, eg whomever sold whatever was purchased. They actually did something to get those sats beyond just having an ssn number and breathing oxygen. Frankly, even the scammers are doing some kind of work to get sats. I think of the old Nascar saying, "if you ain't cheatin', you ain't tryin'."

10 sats \ 0 replies \ @zapsammy 17 Nov

wonderful, scammer stackers are the real POW-ers, i hope they build up their local community with those sats ... 😅

0 sats \ 0 replies \ @028559d218 17 Nov

You guys (and girls) sound like a bunch of capitalists in here ;)

10 sats \ 0 replies \ @_b_o_n_e_s_ 18 Nov

I agree we need out of the box thinking because the situation is pretty grim

Any legislated cap on spending is a good idea but i can see it becoming another regular circus like the debt ceiling

Extra stacks for local governments sounds good too but I'd worry that local government officials would spend their time working out ways they can make their stats look good versus doing the work they need to for their local communities. a bit like China

I think the out of the box thinking of no Income Tax would be such a huge shake up that itself would be a huge paradigm shift for everyone