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Recent Notes

Contra · 13w
Anything used to protect or harm someone
Cardinal profile picture
I have recently started considering the following: the addressable market of Bitcoin might be much smaller than we previously thought. Bitcoin is for intelligent people who care about liberty and take personal responsibility. The pandemic has demonstrated that the fraction of humans possessing these qualities together is tiny. These people have either already joined or are currently too young to join.
Rizful.com (zap tester) · 16w
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Contra · 38w
lol
gsovereignty · 39w
Paper bitcoin is a thing because our territory of freedom has no exports. Even worse, our territory of freedom is completely dependent on imports from the fiat dominion. Whoever produces the stuff...
 Cardinal profile picture
Cardinal @cardinal
Right now, demanding bitcoin as the only medium of payment for our products makes us less competitive in the marketplace where consumers want convenience. Perhaps if more businesses offer large discounts for payment in btc, we can slowly incentivize more people to hold and pay with btc .

2❤️1
Judge Hardcase · 39w
True. Though, a 'huge' discount shouldn't be necessary. Any incentive is what will slowly move us in the right direction. It ultimately comes down to a fundamental question: Is bitcoin an inherently less expensive payment system to collectively participate in than fiat? If so, then the incentive...
gsovereignty · 39w
If you were somehow able to sell things that were in demand but simply not available in the fiat economy you could charge high prices and only accept bitcoin.
Cardinal profile picture
I've been thinking about the reconciliation. Gresham's law and the phenomenon of moving towards harder money are consistent with each other.

Bad money driving out the good = value transferring out from those saving in bad money to those saving in good money.

Naturally, the velocity of the bad money is going to be high: people are trying to get rid of it as quickly as they can. This velocity increases until it gets to a critical points and the bad money is discarded, suddenly and entirely.



Cardinal @cardinal · 46w
Replying to @Tico 🇨🇷
Gresham's Law needs some reconciling. I get what it's saying, but we also have the phenomenon of harder money displacing easier money over time, like the move from seashells or salt to precious metals.