by all but a few, it is increasingly difficult to ignore this. December 24, 2012, government exists because it is, de facto, the equilibrium solution to providing judicial and defense services. As I write this, cboe futures went live this week. And, so what do you do when youre afraid? As such, it poses an existential threat to existing incumbents be they technocrats, banksters, career politicians, or complicit corporate cartels whose position depends on their proximity to and relationships with the money center apparatus that creates money and preferentially distributes it out amongst this network. White Rose ; noble yet inconsequential in the grand scheme of things. But people do know what that means. Thats why you often see in periods of panic people will rush to the money, so you see prices of all other things"d in money fall. Even if many economists are right in that bitcoins deflationary nature is evil, it wont necessarily stop people from choosing it over other available options. One of the first books I read about it was Ferdinand Lips'. This counterargument ignores governments completely unsustainable fiscal/monetary practices as well as its inclination to tax at rates low enough to permit economic growth. Other examples are the base utilities like electricity and running water.
Bitcoin Increasing Fees: What Does It Mean For Sta. Friend of Another (FOA) financial and gold markets commentator of the late 90s (foreshadowing of Satoshi Nakamoto?). It will most certainly be replaced by something else in the long run. For the first few years after Satoshis paper, Bitcoin didnt really break into the public consciousness, but the wheels were certainly in motion, and those people who had a lot at stake and were coming to gain a visceral understanding of the hypocrisy and capriciousness . Partly what was going on there was people were concerned because the economy was so terrible. Of course, whether or not deflation is a net good for the entire economy does not matter when it comes to the adoption of bitcoin as a currency. When I pulled out my copy of the book recently, I found I had scribbled the following into the back cover after I had finished reading it: Gold, like every other "normal" thing cannot be in two places at once.
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Even worse, whenever those banks went off and painted themselves into a corner of insolvency, we were the ones who were going to have to make them whole. Lips, a Swiss banker and expert on the Classical Gold Standard, was reputed to have been the cryptic and anonymous. Anthropologist David Graeber debt: The First 5,000 Years ) makes a case that contrary to conventional theory, barter did not beget money, but rather debt in the form of obligations came first. The framework for containing that event was quickly adopted by other nations, slipped into the back pocket to be used down the road. Further, it is owned by a cartel of private banks and operates with no oversight. Of course, the language here is telling, belying the assumption on the part of the political elites that the rabble is ignorant and easily fooled. EasyDNS Bitcoin sales and transaction trend lines 2013 present (2017) The chart above depicts the trendlines of transactions in Bitcoin on easyDNS from 2013 to present. During the era of debt-based money/fiat currency, whenever an asset bubble occurred, this time is different was never actually different. Related handelssystem supertrend Posts, bitcoin Video Crash Course, dummy-proof explainer videos enjoyed by over 100,000 students.