Each dollar that Tether issues essentially adds a dollar to the money supply. The person that owns the USDT can spend it and the US government can spend it when Tether buys treasuries. This worsens the problem of currency debasement and accelerates the collapse of fiat. #bitcoin

GM nostr The way I see it, the market for government bonds is completely irrational. We have trillions of dollars per year being invested into an institution that hasn’t turned a profit in over 2 decades and has no prospect of making profit ever again. The main holders of government debt are other countries, social security, state governments, pension funds, and public companies. I can only imagine 3 ways that the US manages its massive debt: 1) issue more bonds This option seems like an outright Ponzi scheme that will inevitably fail. As they operate at a deficit year after year, the government debt will grow exponentially. People eventually realize that their “guaranteed risk-free” return on investment is solely funded by new investors instead of actual profits. As people stop buying bonds, interest rates will rise to try to entice people to join the game and delay the its collapse. The holders of government debt as an asset will lose all that value as the government has no way to repay its debt. 2) print money This option is where I think we are ultimately heading. It is effectively pushing all of the costs of government inefficiency, waste, and arguably harmful spending onto the holders of the US dollar. Inflating the currency discourages people from holding it, worsening inflation. It also disincentivizes people from buying bonds as they approach negative returns in real terms. The last holders of debt and currency will lose all that it is worth. 3) operate at a surplus If the government shows some kind of financial responsibility, I still think it is possible to pay off the debt. We would need to cut government spending to only the essentials, but no politician would ever do that. This is one of my favorite arguments for bitcoin’s inevitable adoption. People will still need money. But I’m also a little worried. Early adopters will be rewarded, but somebody will be left holding the bag. People are relying on social security and pension funds for their retirement. It isn’t going to be pretty when the value of their assets collapses. This is my main fear of hyperbitcoinization. I don’t have any for al education in economics so please correct anything that is wrong. #grownostr #bitcoin

GM nostr I realized yesterday that bitcoin and nostr are giving me the opportunity to be a part of something truly revolutionary. They have really changed the way I think about the world. We now have uncensorable technologies that secure natural human rights, a reality that seems impossible in the digital age. My friends and family know that I am into bitcoin and nostr, but they don’t understand why. Being a part of the bitcoin and nostr communities, I feel like I have a responsibility to represent them well. I am motivated to live, act, and speak ethically and confidently. I want to show everyone that bitcoin and nostr are respectable communities for anyone that values human rights, not just for anarchists and illegal activities as many people suspect. #grownostr #bitcoin

New nostr user here. I’m not really into social media, but nostr has a different and healthier vibe. I’m excited to contribute to and engage with this ecosystem of freedom-focused people. I just have one hesitation before I’m sold on nostr: How are current users supposed to find the posts of new users (me) unless I pay someone running a popular relay to put me on there? In other words, if anyone sees this post, how did you find it?