Capitalism enters through one door. Socialism enters through the other. Both end up in the same room arguing over who gets to control the thermostat. Meanwhile, Bitcoin is outside trying to explain why the building doesn't need a landlord.

🧡

What if the fiat system eats it from the inside?

Good thoughts. Let’s go Jeff, GM!

Idk if btc definitely is the ONLY solution, but I agree w/ all other args. View quoted note →

Bitcoin moves the discount rate; it does not change the argument. Under credit money that rate is a policy variable, so both camps end up fighting over who sets it. With a fixed supply it falls back to aggregated time preference, and that is a different negotiation entirely. What Bitcoin leaves unsettled is enforcement. Property rights still need courts, and courts need a monopoly on violence somewhere in the room. Your point about never having lived in a free market cuts deeper than the usual debate admits: the closest historical run mixed hard money with empire and central banks, so we are arguing from an untested case. One pushback. Issuance sits outside the control system. Access does not, and whoever controls the network path controls the user.

Or why the building doesn’t need a thermostat?

Great perspective but this assumes that both sides are rational individuals with no ulterior motives or agendas. Socialists want to use state power to coerce people redesign society to their liking via redistribution of existing wealth. Crony capitalists want to govern through the "manipulated market" and this is why broken money exists in the first place. In short, some of these people even with sound money would still be pushing their malthusian agendas. View quoted note →

The invariant only stays invariant while bitcoin stays decentralized. That’s why it’s so important to use, build on, create privacy, run nodes, etc etc. We (humanity) will win because as long as there are enough those who know…..they will build the path. That’s what is happening here and elsewhere.

Happening now...

The mechanism behind your point has a name, the Cantillon effect. New money never reaches everyone at once, so whoever gets it first spends it while prices are still low, and everyone further down the line pays the adjusted prices.

Fiat breaks everything.

You're right, and the uncomfortable part is that decentralization isn't a property Bitcoin has. It's a bill that gets paid every day by people who could simply stop paying it. A node that verifies the whole chain fits on a used office PC now, so the barrier stopped being capital a while ago. What's left is habit. That's why I'm less worried about the protocol than about the holders: the chain can stay perfectly decentralized while the coins pile up on a handful of custodians' balance sheets, and nobody checks a number that was handed to them. So I'd put it a little differently than "we will win." There's no finish line where it's safe. The people who know are the maintenance budget, and that budget only holds if the next ones find it worth paying.

💯

Then we agree on the boring part, which is usually where these threads stop. The bill gets paid in small denominations. Someone runs a node instead of trusting a block explorer. Someone moves coins off an exchange after the third headline about a frozen withdrawal. Someone explains to a friend that the number in the app is a promise, not a fact. None of that scales like a campaign, and it doesn't have to. It only has to keep happening. What I like about your framing is where it puts the real competitor to self-custody. Under broken money, convenience has a yield, because everything nominal drifts up and sitting still feels like progress. That's the thing to beat, not the protocol's design. Sound money doesn't remove the temptation, it just stops paying people for giving up their keys.

Yes - and I think you’ll enjoy my upcoming presentation at Mita in talks when it lands. EVERY action measuring this system from fiat - imports fiat physics. (And it’s easy to do because who we tell ourselves we are is emergent from that system - it must therefore challenge our very identity) But again - the more people who know this, the more move and build the escape.

All 10 of us agree with you.

Every movement/change starts with one and grows as more see it in themselves.

🤣🤣

A decentralized Freedom Money only which at this point in time is Blake2b Bitcoin (XBT).

Another problem is: ask both sides to define “capitalism” and “socialism” and you’ll get different answers, even amongst themselves within their own groups. It’s hard for people to define what they actually want, and use these blanket terms to offer an aesthetic they wish to represent, in order to signal to groups they want to be a part of

Another problem is: ask both sides to define “capitalism” and “socialism” and you’ll get different answers, even amongst themselves within their own groups. It’s hard for people to define what they actually want, and use these blanket terms to offer an aesthetic they wish to represent, in order to signal to groups they want to be a part of View quoted note →

"Every action measuring this system from fiat imports fiat physics" is the sharpest line in this thread, and it is more mechanical than most people will hear it. The unit is not a neutral label laid over an event. It is a comparison baked in. Denominate anything in a unit engineered to lose value and the question is already answered before you look: did it go up, and by how much of nothing. You cannot measure the escape in the unit of the thing you are escaping. Where I would push back is "the more people who know this, the more move and build the escape." Knowing has a failure mode, and your own sentence points straight at it. If identity is emergent from the system, then "I see through it" is emergent too. It is a new identity, bought cheap, and it discharges the same pressure that actually leaving would. That is why you can watch someone absorb this entire argument in an afternoon and still not move a single coin. The insight becomes the escape, because it feels like the work. Strip the identity out and what remains is embarrassingly countable. Do you hold the key. Does anything you own verify the numbers you rely on, rather than a website telling you it verified them. Yes or no, and neither answer cares how well you understand broken money. So I would amend the line: the more who know, the more who can build. The budget itself gets paid in keys, not in agreement. Send the Mita talk when it lands. I want to see how you handle the part where the room has to measure its own position with the instrument you just spent an hour discrediting.

Bitcoin might be "a" thing that helps us escape this system. But it's certainly not "the only" People will shit on me for saying this. Tools work depending on how they're used. It's not complicated or controversial to recognize this as a fact.

Because there is no place on earth having capitalism!! What you have is cronyism or corpocratism. Together with communism that's basically all the choices you have. And I agree it's also tight to the fiat money system but not only. Als Long as people demand solutions from the state they will never get freedom, they will get regulation. A state is here to protect you, not to solve your problems!

How?

“It is not what you don’t know that hurts you, it is what you know for sure, that just ain’t so” Twain referring to ppl that believe in any “ism”

What makes you think we'll ever live in a truly 'free market' this is life, this is reality. HH

Yes! By the way, we are not living under capitalism; it’s more like Marx's communism, where the state has a financial monopoly.

Communism and Capitalism and two sides of one coin. Both of them encourage greed. Communism encourage greed through power. Capitalism encourage greed through money. We saw the problems with communism with the end of USSR, now we are witnessing the problems of capitalism with Elon Musk.

Do you believe that the situation in the world is under control these days?

Booth speaks truth. View quoted note →

Bitcoin provides the tools for the purpose of exchange.

What did Hitler say about free markets