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21 sats \ 0 replies \ @oomahq 28 May \ parent \ on: Home Remedy for Hair Loss HealthAndFitness
100% this.
Shave your head and grow a beard, hair restored.
True, but most countries in the world impose capital gains taxes and FIFO accounting in order to use and spend Bitcoin "legally", which is still a pretty onerous interventionist policy.
This combined with Bitcoin's intrinsically superior SoV properties is enough to drive it out of circulation almost completely.
Repealing CGT is mandatory for Bitcoin to thrive as MoE at scale. I visited Lugano last year and I was amazed at the number of businesses where I could pay with LN (even real state agencies advertised they accepted payment in BTC). Switzerland doesn't have CGT.
Hans-Hermann Hoppe disagrees :) Excerpt from the Gresham's Law Wikipedia article that you linked:
Austrian economist Hans-Hermann Hoppe said that "so-called Gresham's law" only applies under certain conditions, largely a result of governmental interventionist policies. In his 2021 book, Economy, Society, and History Hoppe states:
You might have heard about the so-called Gresham's law, which states that bad money drives out good money, but this law only holds if there are price controls in effect, only if the exchange ratios of different monies are fixed and no longer reflect market forces. Is it the case that bad money drives out good money under normal circumstances without any interference? No, for money holds to exactly the same law that holds for every other good. Good goods drive out bad goods. Good money drives out bad money, so this bezant was for something like 800 years considered to be the best money available and was preferred by merchants from India to Rome to the Baltic Sea.
Even though contemporary currencies are not backed by nor made of precious metals I can think of a similar real-life situation to the one you described in the blogpost: when one fiat currency pegs to another and then (hyper)inflates away (e.g. the Argentinian peso in 2001).
An free one, to boot. I have no affiliation with Ocean besides believing that the work they're doing is awesome and important.
I believe mining pool centralization is the prerequisite for transaction accelerators, not the consequence. Hence why I think it's important to promote the emergence of more real mining nodes in an incentive-compatible way like they do.
Having said that I have no quarrel against other pools with the same goals. A week or two ago I spoke with someone involved with DMND and he told me they were still in private beta, hence why I did not make Sv2 a focus of the article.
I've been instinctively avoiding debt all my life.
However as I started to understand how fiat money works I'm realizing (cheap) debt is an important tool to keep one's head over the water line (granted, not for buying your primary residence).
In your bio you have the famous quote "People shouldn't be afraid of their government. Governments should be afraid of their people." from V of Vendetta.
A system like that where everyone depended on the goodwill of the government to meet their basic needs would be the exact opposite.
However taking responsibility of your own funds is very different than taking responsibility for someone else's. The stakes are much higher, especially if the amounts are non-trivial.
In other words I trust myself with my own self-custody, but I wouldn't ever want to be in a position where I can lose someone else's savings (people close to me that trust my judgement, to make things worse). Maybe the group of potential Uncle Jims is much smaller than the group of people who know how to self custody.
This chart says that both are turds falling from the sky.
There's no reason for Europeans to exchange their EUR for USD, nor for Americans to do the opposite. There are better options for both.
At the risk of stating the obvious, you cannot bond with people with whom you don't share common values.
My advice would be to find yourself some local, Mises-reading bitcoiners.
The dollar shitcoin does not seem to hold onto value any better than the euro shitcoin. If anything, EUR has appreciated about 14% against the USD over the last 2 years.
It's not beautiful nor wonderful.
Up until early 2023 the UTXO set was less than 5 GB, and that took 14 years.
Now it's pushing 12 GB, and these 7 GB of growth in the last 20 months are mostly unspendable dust outputs from inscription spam.
Basically running a node got noticeably more costly for no good reason (mind you, the UTXO set is unprunable and nodes try to keep it in RAM as much as possible).