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It's just the Liz Warren / Jamie Diamond "only drug dealers and terrorists use it" scare tactic. You just have to counter that with "you've never heard of a government supporting those things before?"
And, "the US and its allies could eradicate WMDs if they were the only ones who possessed them, but they aren't, so therefore they can't give them up. And by that same logic, I will never give up my Bitcoin, which subverts all state violence and agents like Epstein"
history repeats itself.
When was there a global decentralized triple-entry ledger with fixed supply backed by a PoW algorithm that only requires the necessary circuits, electricity and internet connection to operate?
We'll evolve past fiat, just not linearly or predictably.
Merry Christmas y'all! I wish everyone here a very prosperous 2026, full of integrity, kindness and health.
One thing to note here is that umbrel's docker system will redeploy the unmodified umbrel-lnd.conf file, so to get around that, just run sudo docker restart lightning_lnd_1 to restart
Your dad called you idiot as a kid, didn't he? It's okay, made you tougher probably. Didn't have any positive effect on your powers of persuasion though.
You posted something objectionable and couldn't handle any objections. Don't be such a thin skinned bitch.
"you really just took a lot of den's words... The value of a satoshi fluctuates and adjusts to the relative demand for various goods across the economy."
He put in 48pt font size "A perfectly stable dollar, sometimes referred to as a fixed dollar, would be a dead dollar"
There's a conflation here between fluctuating prices of goods and services (emergent, ephemeral information determined by supply & demand) across the economy and the fluctuating exchange value of the currency (determined in part by the number of units in circulation).
What bitcoiners are referring to when they say they want a fixed yard stick is stable purchasing power, which ignores relative fluctuations in the economy, because as individuals, we can't always operate on supply & demand curves. We have ranked preferences (ordinal utility) and when something costs more, we'll buy the cheaper brand, not 5.375 oz. less laundry detergent. If all laundry detergent is more expensive, then it must shift the demand curve for other goods to the left, or we all walk around with smellier & dirtier clothes, but you catch my drift. If other goods have less demand, that lowers the clearing price, so net, there should be no effect on purchasing power.
Central bankers are always printing though, so those fresh dollars (not the ones "in" your bank account) just chase all goods, the detergent that got more expensive and the goods that would have had less demand aren't affected as much. Purchasing power declines as a result.
That is the bullshit fluctuating dollar we're here to bury.
That's what you quoted! And I quoted!
Rather than name-call, how about explain who stretches and compresses the dollar, and why individuals can't assess the exchange value of their preferred MoE.
Since 99% of prices of goods we see are measured in fiat, the only way to reliably measure the value of a sat (relative to other goods) is to use its CURRENT fiat exchange value, which is an effortless process using modern technology, so we used that fluctuating unit to agree on a price, but I fail to see what the previous or future value of the fluctuating unit that's helping us price in sats has to do with a the trade occurring at a SINGLE point in time.
Whatever the buyer and seller agree to. I would choose something not subject to the political whims of men. I thought virtually everybody on this platform would as well. I guess I was mistaken.
Yes. What does that have to do with the fixed nature of the medium of exchange that a buyer and seller use to facilitate their trade? Are they not able to gauge the value of the MoE and isolate it to the trade without it reflecting economic conditions?
Ad hominem. No, I understand completely: you like a fluctuating yardstick because you believe central bankers are better planners than individuals and should protect them from their own incompetence. This is the Fatal Conceit Hayek described back in the 80s. Have you heard of it?
I will never read anything that contains something so nonsensical as this: "Importantly, we don’t want money to be a fixed unit in the way a meter or kilogram is. We want money to fluctuate — to stretch and compress — because it is through those changes that money performs one of its most vital functions: signaling economic conditions. Transmitting relative price changes, in response to underlying conditions of supply and demand, is among money’s key purposes..."
That is prescriptive Keynesian drivel.
An amount, an observation, a numerical constant when holding all other variables constant. You want it to be a coefficient of another politically influenced variable created by forces that absolutely loathe economic freedom.
A bitcoin in Florida in 2009 is a bitcoin in Alaska in 2025. You think comparing is only something you do across space. The problem is that our high-time preference overlords want us fighting over scraps today with a monetary unit that everyone knows will be worth less tomorrow.
It reflects the scarcity or abundance of resources...
The unit doesn't do that. Prices do. Currency manipulators want to mask all of those signals that factor into the politically useful prices.
Yep. It just depends on your resolution and measurement stick. Pick any 4 year period and I believe it's gone up. This is not a "get rich quick" scheme. It's a "don't get debased" scheme. And there'a 1% chance something better will come along, but probably not sooner than "forever" for most people. I mean if we all get our own personal nuclear reactor and a team of droids to help us beat nature, then there's really no need for money at that point, is there?
Compared to when people started speculating that the US was going to implement a Strategic Bitcoin Reserve? You're right, it's not working for people who bought then based on that and hoped to have more command over economic goods at this moment. Was that you? Sorry if that happened to you. Not really.