Lysander Spooner on Nostr: To be honest, I don't give a toss about macro economics. Net inflation and net ...
To be honest, I don't give a toss about macro economics. Net inflation and net deflation are Keynesian concerns. They put the cart before the horse, it's top-down thinking, like 'Satoshi' the central planner who thought he could enforce net deflation mathematically to get deflationary effects on the ground. Or, just wanted to bankrupt us all.
All I care about is net prosperity. What encourages voluntary exchanges -- the only place net prosperity excretes from, in the Austrian view -- and what doesn't. HODL is the opposite of exchange. Bitcoin is worse than a net-zero fixed pie gambling pool. It introduces net poverty, since it discourages voluntary exchanges in the present. Look at the lifestyle of the avg. Bitcoiner. That's a result of thinking and living like a Keynesian, not an Austrian, who makes as many voluntary exchanges as possible, understanding the buyer also profits from each one, in his own estimation (or he wouldn't have voluntarily bought).
All I care about is net prosperity. What encourages voluntary exchanges -- the only place net prosperity excretes from, in the Austrian view -- and what doesn't. HODL is the opposite of exchange. Bitcoin is worse than a net-zero fixed pie gambling pool. It introduces net poverty, since it discourages voluntary exchanges in the present. Look at the lifestyle of the avg. Bitcoiner. That's a result of thinking and living like a Keynesian, not an Austrian, who makes as many voluntary exchanges as possible, understanding the buyer also profits from each one, in his own estimation (or he wouldn't have voluntarily bought).