Peyton Allworth on Nostr: The concept that people wanting to continue consumption forever is a keynesian lie… ...
The concept that people wanting to continue consumption forever is a keynesian lie…
Under sound money with fair incentives becoming wealthy means you contributed to bringing down the marginal cost of production, or contributed to the adoption of the better economic system by adopting the sound money earlier and for cheaper.
The way in which Bitcoin will make the world a better place because of these two factors is very interesting. Imagine someone with many bitcoins or even just 1 bitcoin 100 years from now. Their wealth far exceeds their consumption and the fact that they don’t spend most of their sats just makes the sats of poorer people worth more. Under an inflationary money wealthy people are incentivized to spend more or invest in assets like homes making home ownership unrealistic for most people.
Charity could start to look completely different. Since wealthy people don’t spend more with sound money a dead persons UTXO does not increase their consumption, but gets primarily distributed to the consumption of poorer UTXO’s. By saving your sats and dying with them you can donate in a distributed way to the network with little of that being consumed by already wealthy bitcoiners.
#bitcoin #nostr #Lightning #ligbtningnetwork #zap #zaps #proofofwork #pov #satoshi #war #oil #petrodollar #m4 #plebchain #energy #mining
Under sound money with fair incentives becoming wealthy means you contributed to bringing down the marginal cost of production, or contributed to the adoption of the better economic system by adopting the sound money earlier and for cheaper.
The way in which Bitcoin will make the world a better place because of these two factors is very interesting. Imagine someone with many bitcoins or even just 1 bitcoin 100 years from now. Their wealth far exceeds their consumption and the fact that they don’t spend most of their sats just makes the sats of poorer people worth more. Under an inflationary money wealthy people are incentivized to spend more or invest in assets like homes making home ownership unrealistic for most people.
Charity could start to look completely different. Since wealthy people don’t spend more with sound money a dead persons UTXO does not increase their consumption, but gets primarily distributed to the consumption of poorer UTXO’s. By saving your sats and dying with them you can donate in a distributed way to the network with little of that being consumed by already wealthy bitcoiners.
#bitcoin #nostr #Lightning #ligbtningnetwork #zap #zaps #proofofwork #pov #satoshi #war #oil #petrodollar #m4 #plebchain #energy #mining