Damus
Lau
Recent notes
If your honesty doesn't make you raw, you're carrying a load for someone else that needs to be left where it is so it can be carried by the receiver.
It was when I realized that I was selling my time, and if I didn't fix that I was going to have to sell my time for the rest of my life, I decided that I would rather sit naked on a rock outside because I understood that no money in the world was going to make me happy. I was already happy. It was when I realized that the credit system offers a very particular game that we call finance that anyone with a sound mind can play and win, that I decided to play and win. It was when I realized that I was the full owner of my time that I needed to study. I chose to study and Austrian economics because someone told me to. I didn't stop reading until to this day, and I will keep reading. It was when I realized that studying Bitcoin and Austrian economics provided the only realistic solutions to all our problems that I understood that I should tell others to do the same.
CBDCs NGMI I observe that some individuals are pessimistic about the future, and I find it difficult to comprehend their perspective. Is my viewpoint unrealistic, or is their perception misguided? As humans, we are predominantly motivated by financial incentives when determining our actions. Therefore, do central banks not realize that they cannot compete with a monetary protocol that provides liberation in every aspect? I acknowledge that some people, such as the stereotypical Bratwurstfresser driving a brand new Audi or the average Starbucks consumer with the latest iPhone model, may not prioritize sovereignty. Nonetheless, I find it heartening to witness the adoption statistics of the eNaira in Nigeria. Nigerians, who are mostly unbanked and lack good credit scores, are opting for anything except the eNaira as their payment method. When it comes to transacting, people prefer a liquid and reliable currency to credits. A Nigerian grocer, for instance, would prefer money instead of credits when selling fruits, and his next door neighbor car mechanic in Lagos would simply refuse payment in eNaira. We here all comprehend the value propositions that Bitcoin offers to compete with fiat currency. CBDCs have value propositions that contradict Bitcoin's. Incentives dictate behavior, and people will find transacting in anything except CBDCs more advantageous. CBDCs are the worst type of fiat currency as they are programmable, subject to censorship, cancellation, depletion, debasement, conditional use, and cannot be owned. Financial incentives are crucial for survival, and those who have ever struggled to make ends meet will realize this. Therefore, CBDCs are not a viable option for the majority of people and they will choose not to denominate their productivity as such.