Bitcoinium on Nostr: On Game Theory Everyone wants to get something for nothing. As Bitstein famously ...
On Game Theory
Everyone wants to get something for nothing. As Bitstein famously wrote, https://nakamotoinstitute.org/mempool/everyones-a-scammer/
That is the free-market economy. How to get something for nothing. The entrepreneurs who are able to get us as close to "something for nothing" especially if it is something we really really want, Spice Girls. You know that feeling you get when you encounter something desirable in the shop and then you check the price and it is discounted or better yet dirt cheap such that you can afford more than one. That's entrepreneurs solving the problem of wanting and human desire for material goods in the real world. That's why they win BIG. As in become filthy rich. And rightly so.
However, there are always cheaters in the system. Like a good Mafiaso, they introduce friction is the system (read regulation) to extract value (read money) for themselves at the expense of others (the entrepreneurs, the consumers, you and me). Sure it sounds good. It is to ensure your safety. To check for worker's rights. Yada, yada, yada. It is just theft by another name.
Game theory stipulates that the game can handle a certain level of cheaters in a given system and then it breaks. The theft is so egregious that it does not make sense for entrepreneurs to create business with goods that people want because by the time they pay the Mafia, there will be barely any profits left. They can't even cover the costs of production. The game is over.
That is what is happening as we speak. The dollar system game as introduced at LOT of cheaters and the consumers and producers are not able to cover their bases. Soon they will leave the game and then it will be over.
What should you do, pleb? Easy. Buy Bitcoin. Take it into self-custody. and sleep well at night. You're welcome :)
#nostr #asknostr #plebchain #bitcoin #grownostr
Everyone wants to get something for nothing. As Bitstein famously wrote, https://nakamotoinstitute.org/mempool/everyones-a-scammer/
That is the free-market economy. How to get something for nothing. The entrepreneurs who are able to get us as close to "something for nothing" especially if it is something we really really want, Spice Girls. You know that feeling you get when you encounter something desirable in the shop and then you check the price and it is discounted or better yet dirt cheap such that you can afford more than one. That's entrepreneurs solving the problem of wanting and human desire for material goods in the real world. That's why they win BIG. As in become filthy rich. And rightly so.
However, there are always cheaters in the system. Like a good Mafiaso, they introduce friction is the system (read regulation) to extract value (read money) for themselves at the expense of others (the entrepreneurs, the consumers, you and me). Sure it sounds good. It is to ensure your safety. To check for worker's rights. Yada, yada, yada. It is just theft by another name.
Game theory stipulates that the game can handle a certain level of cheaters in a given system and then it breaks. The theft is so egregious that it does not make sense for entrepreneurs to create business with goods that people want because by the time they pay the Mafia, there will be barely any profits left. They can't even cover the costs of production. The game is over.
That is what is happening as we speak. The dollar system game as introduced at LOT of cheaters and the consumers and producers are not able to cover their bases. Soon they will leave the game and then it will be over.
What should you do, pleb? Easy. Buy Bitcoin. Take it into self-custody. and sleep well at night. You're welcome :)
#nostr #asknostr #plebchain #bitcoin #grownostr