Toxic2040
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Activity: 1792
Merit: 4141
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May 01, 2021, 08:11:50 PM |
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#dyor 1h  4h  #stronghands |
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"You Asked For Change, We Gave You Coins" -- casascius
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El duderino_
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Activity: 2506
Merit: 12047
BTC + Crossfit, living life.
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May 01, 2021, 08:22:46 PM |
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Torque
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Activity: 3556
Merit: 5041
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May 01, 2021, 09:02:22 PM
Last edit: May 01, 2021, 09:17:23 PM by Torque |
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You know, my brain's wheels are turning right now with a thought:
"Is an inflationary money policy the driver behind the desire to endlessly consume?"
Yes. Our financial system depends on perpetual growth. Since all money is debt-based, we are always creating more of it to service the interest from having borrowed it into existence. If all debts were to be paid off simultaneously, there wouldn't be enough money in the world to actually do it. So we keep creating more. This is monetary inflation, which eventually leads to price inflation unless you monetize more goods, meaning you make more things available for purchase for the newly created money, thereby balancing out supply & demand and preventing price inflation. We are being driven towards endless consumption in order to perpetuate the status quo. We are always to be two missed paychecks from destitution so we will latch onto any false form of material happiness marketed towards our fears and frustrations. Remember this the next time some smug douchebag pulls the "muh EnErGy cOnSumpTIon" card against Bitcoin. Deflationary crypto may yet be the biggest boon for the environment. It turns people from consumers into hodlers. I agree. But if you look at the FRED M2 money velocity chart I posted, you can see that up to 1997, monetary expansion policy actually seemed to buoy the economy even in the face of falling wages (adjusted for inflation, of course.) They decided to make personal credit cheaper and cheaper to fill in the wage gap, so that Average Joes would continue spending into the real economy despite their slowing wage growth and growing personal debt load. And so continuing to expand the money supply and cheaper credit worked for a while. Until 1997. And then it didn't anymore. You can also see on the chart where consumer spending fell completely off the cliff. We are now at a point where wages are no longer increasing (to keep up with *real* inflation), mom and pop cannot take on any more personal debt to fill the gap, and thus all consumer spending has fallen to a minimum life support level. What the Fed doesn't seem to grasp is, all the free stimmy checks or even UBI in the world won't make a lasting turn in consumer spending. Stimmies are just a temporary bump. Only wages going back up relative to *real* inflation will do that. And that just ain't gonna happen. What the Fed is doing now (sending money directly to consumers) smacks of desperation. It's a joke. |
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El duderino_
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Activity: 2506
Merit: 12047
BTC + Crossfit, living life.
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May 01, 2021, 11:08:49 PM |
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Hodlnest calls me.
Bitcoin gives and bitcoin takes.
Up though, laila tov.
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Biodom
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Activity: 3752
Merit: 3868
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May 01, 2021, 11:14:04 PM |
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You know, my brain's wheels are turning right now with a thought:
"Is an inflationary money policy the driver behind the desire to endlessly consume?"
Yes. Our financial system depends on perpetual growth. Since all money is debt-based, we are always creating more of it to service the interest from having borrowed it into existence. If all debts were to be paid off simultaneously, there wouldn't be enough money in the world to actually do it. So we keep creating more. This is monetary inflation, which eventually leads to price inflation unless you monetize more goods, meaning you make more things available for purchase for the newly created money, thereby balancing out supply & demand and preventing price inflation. We are being driven towards endless consumption in order to perpetuate the status quo. We are always to be two missed paychecks from destitution so we will latch onto any false form of material happiness marketed towards our fears and frustrations. Remember this the next time some smug douchebag pulls the "muh EnErGy cOnSumpTIon" card against Bitcoin. Deflationary crypto may yet be the biggest boon for the environment. It turns people from consumers into hodlers. <some snip>What the Fed doesn't seem to grasp is, all the free stimmy checks or even UBI in the world won't make a lasting turn in consumer spending. Stimmies are just a temporary bump. Only wages going back up relative to *real* inflation will do that. And that just ain't gonna happen. What the Fed is doing now (sending money directly to consumers) smacks of desperation. It's a joke. yes, I agree, but what can they do if, according to Jeff Booth, we are living in a deflationary world? I read "The price of tomorrow"..it's pretty compelling. |
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virasog
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Activity: 2982
Merit: 1159
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May 01, 2021, 11:41:47 PM |
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Yeah...I don't mean to gender bash here, but the majority of women I've met in my life are the biggest hypocrites in that regard. They are the biggest consumers of "fast fashion", chasing passing fashion fads (cough *trends*) year after year, yet also the most vocal about planet "sustainability" and "eco-friendliness".  I know some men are just a bad though. Mostly young men.  |
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Sayeds56
Copper Member
Hero Member
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Activity: 1288
Merit: 708
Eloncoin.org - Mars, here we come!
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somac.
Legendary
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Activity: 2056
Merit: 1188
Never selling
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May 02, 2021, 12:03:18 AM |
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I think this will be a fantastic upgrade, but I certainly don't expect it to happen this round. Though I do hope to see at least a little signaling, nothing yet. On another note, fees back down again. |
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Elwar
Legendary
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Activity: 3598
Merit: 2384
Viva Ut Vivas
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May 02, 2021, 12:14:11 AM |
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Not looking good for Taproot. Is there some sort of downside that the miners are wary of?
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Torque
Legendary
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Activity: 3556
Merit: 5041
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May 02, 2021, 12:51:57 AM |
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You know, my brain's wheels are turning right now with a thought:
"Is an inflationary money policy the driver behind the desire to endlessly consume?"
Yes. Our financial system depends on perpetual growth. Since all money is debt-based, we are always creating more of it to service the interest from having borrowed it into existence. If all debts were to be paid off simultaneously, there wouldn't be enough money in the world to actually do it. So we keep creating more. This is monetary inflation, which eventually leads to price inflation unless you monetize more goods, meaning you make more things available for purchase for the newly created money, thereby balancing out supply & demand and preventing price inflation. We are being driven towards endless consumption in order to perpetuate the status quo. We are always to be two missed paychecks from destitution so we will latch onto any false form of material happiness marketed towards our fears and frustrations. Remember this the next time some smug douchebag pulls the "muh EnErGy cOnSumpTIon" card against Bitcoin. Deflationary crypto may yet be the biggest boon for the environment. It turns people from consumers into hodlers. <some snip>What the Fed doesn't seem to grasp is, all the free stimmy checks or even UBI in the world won't make a lasting turn in consumer spending. Stimmies are just a temporary bump. Only wages going back up relative to *real* inflation will do that. And that just ain't gonna happen. What the Fed is doing now (sending money directly to consumers) smacks of desperation. It's a joke. yes, I agree, but what can they do if, according to Jeff Booth, we are living in a deflationary world? I read "The price of tomorrow"..it's pretty compelling. They could rip off the band-aid, taper the money printing, and raise interest rates to 5+%. Let the markets bubble deflate back to normal. The sooner they do that, the sooner we get it over with and begin to build anew again. Sure in the interim, millions around the world will lose their jobs, millions upon millions more will likely die. But that's not who the Fed is protecting, although they would say they are. It's all of their billionaire crony friends who, overnight, would all become merely millionaires. THAT'S who the Fed is protecting. And they can't let that happen. Also they can't actually raise rates because then the govt couldn't service the existing debt. They'd have to have a "debt jubilee" across the board. |
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lightfoot
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Activity: 3108
Merit: 2239
I fix broken miners. And make holes in teeth :-)
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May 02, 2021, 12:57:24 AM |
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The Fed and the govt want people to spend spend spend those stimmy checks. Not hoard as savings or convert to investments, assets, etc. Consumer spending is the only thing that drives economies of the world. Just take a look at this chart, and tell me what you see: https://fred.stlouisfed.org/series/M2VYeah, the goal of stimmy munny is to be spent all over the place. A similar problem happens with "tax cuts" except that munny isn't spent it's simply locked away in companies and bank vaults. I used to watch M3 carefully, need to see what it's up to, or the replacement of it. M3 usually could show the true inflationary issues. Still, I didn't think about the link between endless inflation and the disposable economy. Hm. |
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Torque
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Activity: 3556
Merit: 5041
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May 02, 2021, 01:08:31 AM
Last edit: May 02, 2021, 01:44:10 AM by Torque |
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The Fed and the govt want people to spend spend spend those stimmy checks. Not hoard as savings or convert to investments, assets, etc. Consumer spending is the only thing that drives economies of the world. Just take a look at this chart, and tell me what you see: https://fred.stlouisfed.org/series/M2VYeah, the goal of stimmy munny is to be spent all over the place. Fed: Stimmy check?  https://twitter.com/naiiveclub/status/1388491610623598599“Fortunately, some are born with spiritual immune systems that sooner or later give rejection to the illusory worldview grafted upon them from birth through social conditioning. They begin sensing that something is amiss, and start looking for answers. Inner knowledge and anomalous outer experiences show them a side of reality others are oblivious to, and so begins their journey of awakening. Each step of the journey is made by following the heart instead of following the crowd and by choosing knowledge over the veils of ignorance.” -Henri Bergson |
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Arriemoller
Legendary
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Activity: 2282
Merit: 1767
Cлaвa Укpaїнi!
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Can you stop Bitcoin going to 6 digits ? With the rate we have been going up for the last three cycles, and considering how few people and investors own any bitcoin, I believe 10 million is a very conservative estimate. I believe that within 30 years bitcoin will be worth around 1billion USD in todays money. We haven't even entered the s curve yet, we have an explosion ahead of us. I think we will top somewhere around 100k to 200k this cycle and somewhere around 1 mil next cycle, and the one thereafter will be around 10 mil very ish |
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Arriemoller
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Activity: 2282
Merit: 1767
Cлaвa Укpaїнi!
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May 02, 2021, 02:52:55 AM |
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You know, my brain's wheels are turning right now with a thought:
"Is an inflationary money policy the driver behind the desire to endlessly consume?"
Yes. Our financial system depends on perpetual growth. Since all money is debt-based, we are always creating more of it to service the interest from having borrowed it into existence. If all debts were to be paid off simultaneously, there wouldn't be enough money in the world to actually do it. So we keep creating more. This is monetary inflation, which eventually leads to price inflation unless you monetize more goods, meaning you make more things available for purchase for the newly created money, thereby balancing out supply & demand and preventing price inflation. We are being driven towards endless consumption in order to perpetuate the status quo. We are always to be two missed paychecks from destitution so we will latch onto any false form of material happiness marketed towards our fears and frustrations. Remember this the next time some smug douchebag pulls the "muh EnErGy cOnSumpTIon" card against Bitcoin. Deflationary crypto may yet be the biggest boon for the environment. It turns people from consumers into hodlers. Disagree, growth is at it's core driven by ever increasing efficiency, lately accelerated by cheap energy. Consuming is a feature of our brain, not a bug. The constant search for food and things to make clothes and shelter from is what made us survive and in the end become the most successful animal on the planet, modern day consuming is just a continuation of that behavior, it's hard coded in our brains. Bitcoin won't stop that behavior, it will just postpone it for a while, and when we do spend the money we will spend so much more of it, IE we will consume much more than before. For example buying lakes or building small private states in Texas. |
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Arriemoller
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Activity: 2282
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Cлaвa Укpaїнi!
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May 02, 2021, 03:01:09 AM |
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He might have had some valid points but he lost me when he started with, " I fully understand that our financial system isn't perfect but at least it's real." Exactly! Humans use too much energy - even the ones using the real financial system. Mechanical/biological POV: boiled down, it's how much of a quasi-monoculture of humans can this planet sustain at various levels of mutual comfort? If we were in the low-mid hundreds of myriads, no problem: have all the tantalium you want - or buffalo, or whatever you can realistically find. Just a matter of price. Oops. Be it the economy or just a kind of behavioral physics, we end up doing hat many other animals - or plants - do when left alone in a place where they "just can": multiply and grow in shapes that often are exponential up to a ceiling, much like an S of sorts. But I digress. There are S-curves that spin more pleasant thought, and this gentlemen. Nah, population growth have stopped, the average ratio planetwide is two children per family, and it is dropping, in a not to distant future a diminishing population will be our biggest problem. The reason it doesn't look like that is because the older generations that are now dying of where fewer in number then the ones being born now, when that tip of what used to be a pyramid but now is an obelisk is gone it will be a tower that will slowly turn in to a upside down pyramid. |
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Arriemoller
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Activity: 2282
Merit: 1767
Cлaвa Укpaїнi!
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May 02, 2021, 03:02:58 AM |
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What's taproot and why do we need it? |
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philipma1957
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Activity: 4116
Merit: 7854
'The right to privacy matters'
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May 02, 2021, 03:11:22 AM |
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He might have had some valid points but he lost me when he started with, " I fully understand that our financial system isn't perfect but at least it's real." Exactly! Humans use too much energy - even the ones using the real financial system. Mechanical/biological POV: boiled down, it's how much of a quasi-monoculture of humans can this planet sustain at various levels of mutual comfort? If we were in the low-mid hundreds of myriads, no problem: have all the tantalium you want - or buffalo, or whatever you can realistically find. Just a matter of price. Oops. Be it the economy or just a kind of behavioral physics, we end up doing hat many other animals - or plants - do when left alone in a place where they "just can": multiply and grow in shapes that often are exponential up to a ceiling, much like an S of sorts. But I digress. There are S-curves that spin more pleasant thought, and this gentlemen. Nah, population growth have stopped, the average ratio planetwide is two children per family, and it is dropping, in a not to distant future a diminishing population will be our biggest problem. The reason it doesn't look like that is because the older generations that are now dying of where fewer in number then the ones being born now, when that tip of what used to be a pyramid but now is an obelisk is gone it will be a tower that will slowly turn in to a upside down pyramid. Interesting. Every year over the last 50 years we have gone up in population. I think the last set of negative years was during world war two. Maybe you are correct we should know in under ten-twenty years time. |
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Hueristic
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Activity: 3808
Merit: 4894
Doomed to see the future and unable to prevent it
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May 02, 2021, 03:13:40 AM |
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The vulnerabilities in Pulse Connect Secure, a VPN that employees use to remotely connect to large networks, include one that hackers had been actively exploiting before it was known to Ivanti, the maker of the product. The flaw, which Ivanti disclosed last week, carries a severity rating of 10 out of a possible 10. The authentication bypass vulnerability allows untrusted users to remotely execute malicious code on Pulse Secure hardware, and from there, to gain control of other parts of the network where it's installed. https://arstechnica.com/gadgets/2021/04/more-us-agencies-potentially-hacked-this-time-with-pulse-secure-exploits/ |
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