npub10vlhsqm4qar0g42p8g3plqyktmktd8hnprew45w638xzezgja95qapsp42 is right that changing the incentives is the key to the future.
As Charlie Munger said: "Show me the incentive and I will show you the outcome."
It is not the incentives of the common man that matter. nor the incentives of politicians, banksters, vc's or wall street
The incentives that matter are those the bureaucrat class.
They are most dependant on the money printer, growing sever larger & amassing ever more power
They have little value to offer the world other than designing & implementing regulations, so they must steal the value of others through the money printer
As npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m says, it is not free speach that really matters, it is free will
As we reach peak fiat, across the Western world the bureaucrat class are racing to cement in their power by constricting free will through more & more regulations
There needs to be more open discussion of how to shift the incentives of the bureaucrat class
The matter has become quite urgent
In the end, I think, there will be little option but for the bitcoiners to pay them off ... and if that is the only way, we should do so
Replies (5)
I am not a fan of the French revolutionary mob at all, but they did offer some negative incentives to the power structure functionaries of their day that didn't involve paying anyone off. On the other hand, just paying the drones to actually do nothing, as many of them aspire to do anyway, would be a major improvement over what we have now. The key concept, as I see it, is that the craven, weak, and dull majority will always need an external authority to order their lives. The only questions are 1) who shall constitute that authority, and 2) what shall their ruling philosophy be.
Yes, I agree with much of this.
In past life I was involved in a private enterprise project where rusted in bureaucrats were paid large amounts of money to give up their positions.
It was expensive, but paid off handsomely for society in the long run.
Your observation about the need of a large swath of the populace for an external authority is right, I think, rather depressingly.
Your two questions are key, and perhaps the answers to them is where the hope & optimism I feel resides?
Once the perverse incentives of broken money materially weaken, perhaps the new class of bureaucrats will be more appropriately incentivised?
There will be no paying off of the “Bureaucrat Class”. Which, from my perspective, INCLUDES much of the current political and banking apparatus.
Continued adoption of Bitcoin, the emergent global ecosystem, over the coming decade (not just Bitcoin, the asset) assures the complete revocation of their power and therefore existence.
This will be far easier to see from a 2nd/3rd world perspective over the next few years, where circular economies are starting to take hold at a parabolic pace in real time. They are the “canary in the coal mine” and the necessary beta tests/fire-starters that will anchor this civilisational shift in humanity.
Those who want to help bring this new potential reality into existence should be focusing as much of their time and attention as possible on promoting the growth of these nascent communities and systems. In whatever way they can.
An oldie but goodie….
“BE the change you want to see in the world”
Just my 2 sats on the topic 🧡😉
I hope that this is true, & I think the rapid & coordinated advancement of kyc controls on internet access & free speach in the past few months (UK, Australia, etc) are last ditch efforts to stop the loss of complete control
I agree circular economies are ultimately the answer, removing the intermediaries, and that we need to fight for them
However, I also think there is a risk of underestimating the strength of the bureaucrat power structure, particularity to control narratives & the monopoly on violence, to thwart these efforts
As Adam back would point out, the fight needs to be made on many fronts,
As bitcoiners economic power grows, why shouldn't it be used to leverage the current perverse fiat incentives of the bureaucrats to weaken them?
You and I are in alignment here. And to your “bureaucrats” point, this will happen organically as the economic power shifts further in our direction. Just look at how much it’s ALREADY helping to this end.
My main point was that embeded circular economies around the world (especially in 2/3rd world countries where friction/resistance is significantly and sometimes even non-existent) are ground zero for this “cause”. (Separating Money from State)
Many well intending bitcoiners can only see the world through thier own (fiat-legacy) FIRST world lens. So they freak out when the monopolistic hegemons very predictably fight back to protect their turf. In the intermediate to long term, their actions will prove futile. In fact, they will undoubtedly help to STRENGTHEN the protocol as participants require more robust open source software to out manoeuvre the creeping countermeasures of “the state”.
This is what makes Bitcoin (the ecosystem) so incredibly and almost incomprehensibly novel, robust and (IMO) unstoppable.
Or I’m delusional. Both are possible 🤣
