/biz/ - Business & Finance

>>59443369
1 BTC = 1/21m of BTC, forever. Realize how revolutionary that is, a trustless, fixed, autonomous, decentralized unit. That is what we've always wanted from money, it's why gold was used, because the natural properties of gold create an approximation of a unit. But gold isn't fixed in supply and is only low trust, and even then only low trust in physical form. As economies became more complicated gold needed to be abstracted rendering gold entirely trust-based, opening the door to corruption and the current sorry state of money.

What we want from money has always been the unit, by having a unit of account we reduce the number of prices from n^n to n. We cannot engage in complex economic calculation without a unit, but the units we've been forced to use out of necessity do not provide a clean economic signal, with a trustless fixed unit of account the efficiency of economic calculation is increased massively. BTC will continue to reward adopters as that is what the positive externality of trustless money yields.

BTC is a simple computer network game where people compete to compute a hash, with the reward, a unit of the game, being transferable within the game. Nothing more, nothing less.

The novelty lies in the autonomous, trustless, decentralized nature of the game and its rules, which renders the game-unit the world's first fixed unit of account.

Unit of account is the systemic function of money, it is this function that enables economic calculation, it is this function that enforces the game theory of voluntary exchange and frees us from the hobbesian war of all-against-all. A fixed unit of account greatly simplifies economic calculation as price carries information, a unit of account is to a fixed unit of account as a conductor is to a superconductor.

>>59438096
That money is corrupted is not the problem, the problem is that money CAN be corrupted, BTC is trustless money, it fixes the big problem. We no longer need the memetic parasite State as we no longer need a trusted third party to operate money.
>muh gold
2% inflation, not a fixed unit, and not trustless, physical goods can't be trustless as the desirable quality of money is Unit of Account, physical goods must therefore be abstracted to function as money which introduces trust which can and will be exploited.

coinsider this: not only it has to go back to 90k, but 25% (average tax on capital gains on developed countries) below 90k, for you to be able to buy back at an even price

>>59436585
BTC is perfect money, a trustless fixed unit of account. As Szabo notes, trusted third parties are a security hole too large to leave open in money. Using someone "real trustworthy" to guard money isn't a fix, the problem is the TTP, if you remove trust from money it can't be corrupted. BTC goes up because it is more useful to positive sum actors as sole denominator, BTC going up benefits all positive sum actors so encourages it's acquisition, creating a positive feedback loop that will drive BTC to sole denominator in-the-limit.

Oligarchs are parasites, they do not run the world, they just grift. The true organizing principal of the human superorganism is the positive externality of voluntary exchange, not some statist fairytale "social contract". We autonomously organize into the human superorganism that envelops the globe like a planetary slime mold because voluntary exchange is positive sum.

Bottom up, emergent, organic
Not top down, prescribed, hierarchical

State can only acquire resources via one of three means:
Coercion: "I am Lord, give me resources or I will murder you"
Persuasion: "I am Lord, give me resources because I take credit for your accomplishments!"
Deception: "I am Lord, do not concern yourself with the functioning of Money! It is very necessary for me to engage in rank counterfeiting or the world will stop spinning!!"

Oligarchs have been driven to the last exploit by the superorganism's relentless march towards efficiency. The oligarchs now parasite via manipulation of the price signal of money, but this is grotesquely inefficient, the superorganism will not abide, it has allowed the State to exist until now because it needed a trusted third party to operate money, but thanks to Satoshi it no longer needs a TTP for money. It demands a high fidelity incorruptible price signal of money and now it shall have it.
>They'll ban it!
State like Church HAD (past tense) a function for the superorganism, a function obsolesced by technology, the superorganism will now cannibalize State just as it did to Church after Johannes provided a superior means of meme propagation. Capital flight to trustless money accelerates this process by hastening BTC's ascension to Sole Denominator.

State is subordinate not superordinate to the superorganism. Oligarchs hated the printing press, universal literacy, mass media, internet etc etc as well, didn't matter in the slightest as the superorganism is supreme.

>never sell
>never realize gain
EZPZ

DCA into btc exclusively.

Unit of account, money-as-tally-board, is the systemic function of money, this is a vital economic function as without the signaling of money we could never autonomously organize into the mutually beneficial superorganism that blankets the earth like a planetary slime mold.

All monies before BTC were trust-based. Yes, even gold, as it's physical nature requires centralization and abstraction to be used as unit of account. As Szabo notes, trusted third parties are a security hole too large to leave open in money, using someone "real trustworthy" isn't a fix, the problem is the TTP, if you remove trust from money it can't be corrupted.

Trust based money will always be corrupted because it's too good a score, it's the best place to parasite, and once corrupted the corruption will spread as you're now rewarding corruption. This process is hugely negative sum as you're fucking up the signaling of money. The world is falling into BTC as it proves a truer economic signal, BTC will continue to reward adopters as that is what the positive externality of trustless money yields.

Oligarchs are parasites, they do not run the world, they just grift. The true organizing principal of the human superorganism is the positive externality of voluntary exchange, not some statist fairytale "social contract". We autonomously organize into the human superorganism that envelops the globe like a planetary slime mold because voluntary exchange is positive sum.

Bottom up, emergent, organic
Not top down, prescribed, hierarchical

State can only acquire resources via one of three means:
Coercion: "I am Lord, give me resources or I will murder you"
Persuasion: "I am Lord, give me resources because I take credit for your accomplishments!"
Deception: "I am Lord, do not concern yourself with the functioning of Money! It is very necessary for me to engage in rank counterfeiting or the world will stop spinning!!"

Oligarchs have been driven to the last exploit by the superorganism's relentless march towards efficiency. The oligarchs now parasite via manipulation of the price signal of money, but this is grotesquely inefficient, the superorganism will not abide, it has allowed the State to exist until now because it needed a trusted third party to operate money, but thanks to Satoshi it no longer needs a TTP for money. It demands a high fidelity incorruptible price signal of money and now it shall have it.
>They'll ban it!
State like Church HAD (past tense) a function for the superorganism, a function obsolesced by technology, the superorganism will now cannibalize State just as it did to Church after Johannes provided a superior means of meme propagation. Capital flight to trustless money accelerates this process by hastening BTC's ascension to Sole Denominator.

State is subordinate not superordinate to the superorganism. Oligarchs hated the printing press, universal literacy, mass media, internet etc etc as well, didn't matter in the slightest as the superorganism is supreme.

>>59427348
>fed announces rate hike because inflation going up
>bullish btc
>fed announces rates down to avoid recesion
>bullish btc
>mstr on nasdaq meaning everyone is now forced to hold btc
>bullish btc

Proof
Of
Shit

>>59424296
1 BTC = 1/21m of BTC, forever. Realize how revolutionary that is, a trustless, fixed, autonomous, decentralized unit. That is what we've always wanted from money, it's why gold was used, because the natural properties of gold create an approximation of a unit. But gold isn't fixed in supply and is only low trust, and even then only low trust in physical form. As economies became more complicated gold needed to be abstracted rendering gold entirely trust-based, opening the door to corruption and the current sorry state of money.

What we want from money has always been the unit, by having a unit of account we reduce the number of prices from n^n to n. We cannot engage in complex economic calculation without a unit, but the units we've been forced to use out of necessity do not provide a clean economic signal, with a trustless fixed unit of account the efficiency of economic calculation is increased massively. BTC will continue to reward adopters as that is what the positive externality of trustless money yields.

This is what normies think about Bitcoin in 2024+1 (see minute 4:50)

https://www.youtube.com/watch?v=nQGGsX8to3c&t=284s

1 BTC = 1/21m of BTC, forever. Realize how revolutionary that is, a trustless, fixed, autonomous, decentralized unit. That is what we've always wanted from money, it's why gold was used, because the natural properties of gold create an approximation of a unit. But gold isn't fixed in supply and is only low trust, and even then only low trust in physical form. As economies became more complicated gold needed to be abstracted rendering gold entirely trust-based, opening the door to corruption and the current sorry state of money.

What we want from money has always been the unit, by having a unit of account we reduce the number of prices from n^n to n. We cannot engage in complex economic calculation without a unit, but the units we've been forced to use out of necessity do not provide a clean economic signal, with a trustless fixed unit of account the efficiency of economic calculation is increased massively. BTC will continue to reward adopters as that is what the positive externality of trustless money yields.

>no use
Unit of account, money-as-tally-board, is the systemic function of money, this is a vital economic function as without the signaling of money we could never autonomously organize into the mutually beneficial superorganism that blankets the earth like a planetary slime mold.

All monies before BTC were trust-based. Yes, even gold, as it's physical nature requires centralization and abstraction to be used as unit of account. As Szabo notes, trusted third parties are a security hole too large to leave open in money, using someone "real trustworthy" isn't a fix, the problem is the TTP, if you remove trust from money it can't be corrupted.

Trust based money will always be corrupted because it's too good a score, it's the best place to parasite, and once corrupted the corruption will spread as you're now rewarding corruption. This process is hugely negative sum as you're fucking up the signaling of money. The world is falling into BTC as it proves a truer economic signal, BTC will continue to reward adopters as that is what the positive externality of trustless money yields.

Normie sentiment check at 4:50
https://www.youtube.com/watch?v=nQGGsX8to3c&t=284s

We are so fucking early.

>>59395459
>no use
BTC is a simple computer network game where people compete to compute a hash, with the reward, a unit of the game, being transferable within the game. Nothing more, nothing less.

The novelty lies in the autonomous, trustless, decentralized nature of the game and its rules, which renders the game-unit the world's first fixed unit of account.

Unit of account is the primary function of money, it is this function that enables economic calculation, it is this function that enforces the game theory of voluntary exchange and frees us from the hobbesian war of all-against-all. A fixed unit of account greatly simplifies economic calculation as price carries information, a unit of account is to a fixed unit of account as a conductor is to a superconductor.

Unit of account is the primary function of money, it is this function that enables economic calculation, it is this function that enforces the game theory of voluntary exchange and frees us from the hobbesian war of all-against-all. A fixed unit of account greatly simplifies economic calculation as price carries information, a unit of account is to a fixed unit of account as a conductor is to a superconductor.

BTC will continue unabated as a fixed unit of account is most useful as the sole denominator of everything.

Hyperbitcoinization has begun.

∞/21m is a bargain at twice the price.

BTC is a simple computer network game where people compete to compute a hash, with the reward, a unit of the game, being transferable within the game. Nothing more, nothing less.

The novelty lies in the autonomous, trustless, decentralized nature of the game and it's rules, which renders the game-unit a fixed unit of account, the world's first.

Fixed unit of account is desirable because the only way to transfer value temporally is to hold assets that will have demand in the future. Increasing supply is equivalent to decreasing demand so being constrained in supply is necessary. To transfer value into the future I therefore want two things: constrained supply (preferentially fixed) & network of use as a constrained supply asset. I want these things because I know that the future will also want these things, I want the largest fixed unit of account as it will be in demand in the future, I want BTC. BTC = Value.

>Three weeks ago I discovered bitcoin. It sounded interesting enough that I decided to devote an entire Saturday to it—that was my “day of bitcoin.” My day of bitcoin evolved into my three weeks of bitcoin. In that time, I have been obsessively reading about it, writing about it, buying it, and creating businesses for it. As far as I can recall, I have never been so obsessed about anything. But the reason I am obsessed with bitcoin is simple: it is the most incredible thing to ever happen in the world. I am not exaggerating. We are presently witnessing the most disruptive change to ever happen to collective human behavior. Although there have been other disruptive changes to human behavior in the past, bitcoin is happening much faster than those. Consider, for instance, computing.

>Charles Babbage invented the mechanical Analytical Engine in the 1830s. It took on the order of a century or more before those seeds of an idea blossomed into something that actually started being used on a large scale. Or consider, say, the internet, which was invented in the 1960s, but took on the order of decades before it saturated the world. That was faster than computing, but still long compared to bitcoin. Bitcoin was only invented about 2.5 years ago. And already, I have been able to ask random people about it, and they know what I’m talking about. If the growth of bitcoin continues exponentially like most widely useful technologies, it will only be on the order of years—not centuries, not even decades, but individual years—before virtually everyone is using it.

>The standard term for such a rapid change is a “singularity.” Robin Hanson predicted an economic singularity. Bitcoin, as I will argue, is that singularity. (Hat tip to noagendamarket on the bitcoin forum for reminding me of Robin Hanson’s article.)

>How to proceed
>Since bitcoin appreciates in value very rapidly during the singularity phase, you should convert all of your liquid assets to bitcoin as quickly as possible. Do not keep any cash, savings, or checking beyond what you need to pay for goods and services that cannot yet be paid for with bitcoin. The more things you can buy with bitcoin, the more bitcoin you should keep.

>Stop wasting money on excessively expensive meals, televisions, cars, and anything else that loses value quickly or instantly. Instead, put your money into bitcoin. You will be much richer that way. You may think having less stuff is less fun, but actually the pleasure of financial freedom far, far outweighs any losses.

This was written in 2011. Imagine having this much insight.

>buy an infinite amount of MSTR
>Saylor can now buy more BTC
>BTC pumps
>MSTR pumps
>repeat until you are rich as fuck from MSTR
>now you can move abroad and freely buy BTC

Never selling, never paying taxes

>china “gold” currency “trust us gweilo very much gold number one!”
>trustless fixed unit of account on a transparent immutable distributed ledger
Though choice.