Replies (14)
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Jeff casually dropping truth bombs
Bitcoin or slavery... I choose the former
Jeff good friend please help me to measure the world and life in Bitcoin. I’m struggling with this, some tips, guidelines etc 🙏
Any tips on how to measure the world in bitcoin vs NGU dollar metric? How can I for example look at a carton of milk and say that’s 100 sats, when the only way (currently) is to find the price of the milk in dollars and do the conversion?
People give the example of a house getting cheaper in sats, but they’re only figuring that out by looking at the house’s current dollar value and then at bitcoins’ and saying that’s x sats now.
Seems like the only way to “see” any of this is by doing the conversion of dollars (or euros) etc.
Yes your use of ngunwad weird and itnconfused me
Being so eager for exponential gains might be a sign you don't fully see that there is no other system that captures the productivity. The risks are the lowest its ever been. This is a safe heaven asset.
Yeah I do the conversion too I think the insight is to see the bitcoin as the measuring stick that doesn't change
Fundamentally its all relative and prices are just ratios of how much of 1 good is in terms of another like a car is 1/10th of a house. The dollar is just a easier way to do that calculation
Bitcoin is being able to do that calcution without the distortions from money printing
I think its most useful and or obvious for pricing things across time.
That ratio of car to home in 20 years in USD terms might be 1/20because houses capture more of the monetary premium. Essentially distorting the price of the house from its utility value
In bitcoin if the ratio changes you know its from changes in the supply demand dynamics of houses vs cars
If that makes sense
It’s measured in productive time. How many years labor? Or oz gold? Or certain type of house. But ultimately it is a measure of productivity stored in bitcoin.
(GDP + historical capital asset value) / 21M bitcoin
It’s very difficult to live on a bitcoin standard currently when everything is priced in fiat..
Stupids thing I have read in a while - Hawley was always suspect - he’s stupid.
So early last year my guitars were about 0.12btc and now more like 0.08 BTC, I can see it I'm my own production and as competitors scramble to raise prices to deal with rising costs I can stay put knowing that if I exchange the government issued "bits of paper" into BTC I can maintain this price and offer better value.#nistr #guutarmakee #bespokeguutars #acousticguutars #luthier
Doesn’t mean they won’t try, Thiel in particular has been pretty clear about his monopolistic intentions and distain for competition.
YT helps
