“I was mining #bitcoin about 20yrs ago when I was in the intelligence community. Somewhere in some dumpster there’s a fraction of a fraction of a fraction of bitcoin.”
Never underestimate a government employee’s courage to blatantly lie into a microphone.
Mike Green:
"No, that's not the system that we live in now. This is actually why the inflation that you were describing is somewhat endemic. You need to increase the supply of money in order to allow the resources and credit creation that allows the next generation to buy into the system. That's why there's an inflationary characteristic to it. Again, it could be reduced if we reduce the preference for debt financing relative to equity financing. But the simple reality is is if you look at the population of the United States over the past 100 years, it's grown from about 75 to 100 million people to today 350 million people. If we had been on a Bitcoin standard, that would mean that every single person that was born after the vast majority of Bitcoin was created, which by the way started several years ago, would have no real access to them to that Bitcoin under the same terms. It would prove incredibly deflationary in terms of its underlying characteristic. It would require interest rates that were extraordinarily high to offset the non-recoverability of that Bitcoin. And you're effectively creating conditions under which the system would cease to function. and permanently disadvantage those who were born after the initial round of Bitcoin had been printed. It's just a mathematical property of the system as it's set up."
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Mike Green is yet another confused person who pushes the false narrative that we must increase the units of money in order to achieve economic cooperation & growth. He fearmongers in vague terms about "deflation" causing the system to "cease to function."
@allenf32@sacha_meyers@saifedean you will probably want to see this.
Everyone in the world has to take a private vote by pressing a red or blue button.
if more than 50% of people press the blue button, everyone dies.
if less than 50% of people press the blue button, only people who pressed the red button die.
Which button would you press?
JUST IN: US ATTORNEY GENERAL JUST SAID THEY WILL NO LONGER PROSECUTE #BITCOIN DEVELOPERS
"YOU ARE NOT GOING TO BE INVESTIGATED AND NOT GOING TO BE CHARGED"
SAMOURAI DEVS ABOUT TO BE FREE 👏
Block/CashApp implementing Proof of Assets is a huge step forward for the industry. There's no reason to use a Bitcoin exchange that doesn't provide this level of transparency.
Sometimes I feel like putting my entire $25,000 emergency fund into $STRC and collect a 11,5% yearly dividend on it.
Would you consider this a good idea?
@marc02200@ronin21btc@grok Those are 30 day obligations so time wise checks out. Holding cash FEELS more safe, but it’s all the same unless it’s BTC in cold hard storage - then it is truly risk free.
@ronin21btc@grok I mean I know the numbers, that’s why I’m so pro bitcoin.
The thing is: will I be able to pull money out as quickly as I would with an emergency fund.
I have the fund for unforeseen expenses. Let’s say my fridge or freezer breaks. Or my roof is leaking.