matt
11.3K posts
Decided I wanna get into Aussie Rules. Who should I support?
Convince me please Aussies, a shirt will be purchased upon my decision 👍🏻
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#BREAKING 🚨 Australia’s minimum wage – currently $24.10/hour – will rise by 3.5% from July, following a decision by the Fair Work Commission
Last year’s annual wage review saw a 3.75% increase
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BREAKING: Around 3 million workers will get a real pay rise from 1 July.
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@AusBTCIndBody He will come around. He just doesn't understand it. Most people start out this way...
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It is important we address false and misleading statements.
Bitcoin is not unsecured credit.
It is not a promise to repay.
it is bearer instrument.
It is best understood as a commodity, valued for both its monetary & technological properties.
It is hard money.
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@JacintaAllanMP Holy fuck this is so stupid. The machete doesn't know what it's chopping.....
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We're using extraordinary powers to ban the sale of machetes from midday Wednesday.
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matt retweetledi
'The economy is the tangible goods and services it produces', but a fiat monetary system distorts what goods and services are produced.
How?
Through a thousand tiny distortions of price signals distorting information signals.
If a central bank can print infinite amounts of currency out of thin air, guess what happens?
Those closest to the source of that money benefit disproportionately over everyone else.
This means banks, real estate agents, and everyone downstream of them.
How does this work?
Well, imagine you work for a bank.
Let's say the central bank decides to restart QE one day.
Now all of a sudden a commerical bank has more reserves to lend against, creating more money in the economy (literally, because money is created through lending).
The bank makes money off these loans.
That's a simple example.
Now imagine you're a real estate agent.
Now that banks are lending more, on the other side of that is borrowers. More people borrowing money means more of it ends up in real estate. This benefits you because higher house prices means more money for you (more commissions, etc).
How far does this go?
It goes all the way down.
Let's imagine you're a startup.
You look at the economy and think: 'hmmm, I want to solve a problem, what's the biggest problem most people have at the moment?'
'Ahh, I know, houses are too expensive!'
So your startup idea is now a FinTech company that helps those locked out of the housing market buy fractionalised shares of houses with friends, or another idea to allow them to borrow with a 2% deposit.
Let's imagine your fractionalised shares idea takes off and half of all people with a mortgage in the country use it.
Now another startup looks at the market and thinks 'ahh wow, those guys could really use a way to track the liquidity of those fractionalised shares, I'm going to create an app to allow them to trade them more easily on a secondary market!'
Another startup goes 'they need better analytics, it's too confusing at the moment for them if their portfolio exceeds 10 houses. I'm going to build an analytics app for them.'
Another one goes 'what about the real estate agents. They need a way to manage all these extra people buying property more easily.'
On and on and on it goes.
Fiat currency distorts what information you can extract from the humans operating in an economy.
Without clear and accurate information signals, the behaviour of market participants is grossly distorted towards producing goods and services that do not actually make the economy more productive, but make those closest to the source of central bank money printing more rich for doing nothing.
'The economy is the tangible goods and services it produces', but fiat currency corrupts the ability of participants to behave productively.
That is just the tip of the iceberg.
Money is the root layer of our society. Corrupt money corrupts everything: goods and services produced, morals, long term incentives, culture, food, architecture. Literally everything.
Daniel Sefton@sefton20
So far, exactly zero people have said precisely what @SenatorRennick is missing about bitcoin. Other than the fact they simply don’t link his position. He’s said something to the effect of - the economy is the tangible goods and services it produces, of which Australia is lacking. We should be focusing on that rather than a volatile currency which most of the population aren’t interested in currently. The rebuttal thus far (as far as I can tell) has been - you’re missing the point/you need to read a book/this is a misunderstanding. None of which are descriptions of the apparent error or an attempt to resolve the problem, which let’s not forget, is Australia’s broken economy. Perhaps the champions of competing currencies can highlight exactly what it is that bitcoin is supposed to do for us right now, or why a few thousand computers humming along in the night are more valuable than reintroducing manufacturing and investing in new business.
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matt retweetledi
Bulls will dine in Valhalla.
It's nothing but blue skies between here and $1m.
Buy the biggest projector screen you can find, hang it up in your dogbox, and put the btc price chart on it 24/7 whilst you watch as fiat melts before your eyes.
There is no second best.
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Go tubing they said. It will be fun they said. 🤣🤣🤣
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matt retweetledi
@RBASHAGGER Mate, if you gave me $1.18m to live in Mt Druitt, I'd politely tell you to get fucked.
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Congratulations to the winning bidder securing his future and financial freedom in the suburb of millionaires. Mount Druitt
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matt retweetledi
@MGF_Guild Love it! 🧡
You can create an email for them and sign up for @theamberwallet, create a custom "@ amber.app" lightning address, and start sending them sats 😎
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There is ZERO, I repeat ZERO, end to the Australian housing crisis without the Australian Dollar collapsing.
This is a bona fide Ponzi scheme.
Get every last cent you can out of the Pacific Peso and into Bitcoin.
You're running out of time to exit this madness.
AMP@AMP_AU
We’re excited to announce a new 10-year interest-only home loan offer with no mid-term reassessment, providing customers with more choice, long-term financial flexibility and greater control over cashflow. Learn more: amp.com.au/about-amp/news…
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