🎓 Dr. Freemo 🇳🇱 @freemo@social.cleverlibre.org

@Atlas_Khan

No if you buy goods and services in estonian that you keep in estonia then no it is not part of the us economy... If you buy estonia goods that you import then youve made an equal trade of wealth in the short term, the nature of the goods determines which economies wealth grows or diminishes from that.

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

You are welcome to think that.

@icedquinn @melovida @clacke @Springnat

@mastodon

Yes, mostly true, but keep in mind there is a limit, when inflation is too high you get runaway effects, so more inflation is not always better. Inflation basically needs to be non-zero but low enough that investments can stay ahead of it.

@clacke @melovida

@Atlas_Khan

No you dont listen, I expressly said this is NOT about keysian economics and applies to a great many economic models.

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

Investing is putting wealth into things that you think will grow in value and produce new and more wealth for you.. So yes putting money into bitcoin is investing.

@icedquinn @melovida @clacke @Springnat

@Springnat

No thats what you did... Money in a bank only gains interest through loans... 100% of the money it gains id by creating debt, full stop.

Inflation creates money by encouraging investment, while that benefits debtors, it also benefits anyone investing without going into debt as well, therefore it benefits all investors and not just those in debt. Full stop.

@icedquinn @melovida @clacke

@Springnat

The bitcoin being bought with US dollars is part of the US economy.. how can I say that? Because its being bought my americans, and being spent on the goods americans buy (when they can spend it directly, which is becoming more common).

@icedquinn @Atlas_Khan @melovida @clacke

@Atlas_Khan

Brevity not = simplicity.

“Everything should be made as simple as possible, but no simpler.”

I said what I said as simply as those ideas can be conveyed, trimming off any more would not have provided a complete answer.

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

Funny was just going to say the same to you.

@icedquinn @melovida @clacke @Springnat

@anon00110

1) Never claimed crypto is low risk or even a good investment. But as part of a portfolio (which is allowed some high-risk elements) it is responsible, if your portfolio is overall healthy.

2) Yes it does and I mentioned it by name, its called "Stacks" which adds smart contracts on top of Bitcoin.

3) Yes its slow to some extent. To slow for every day purchases, but more than fast enough for what I stated which is borderless money transfers (a bank transfer across borders is 3days absolute minimum, bitcoin is many orders of magnitude faster)

4) Yes in theory they could, your point?

5) Yes it is, I invest in crypto, I dont invest in bitcoin. Your point?

To your last point.. government banning it is stupid.. but I do agree that Bitcoin is a bad choice of crypto to get into, Ethereum is a much better choice in the present, Cardano will be a better version of Ethereum in the future I suspect.

@icedquinn @Atlas_Khan @melovida @clacke @Springnat

@Atlas_Khan

You seem confused about money and wealth as you keep using them interchangeably... No its not just moving money around.. it **is** moving wealth around (which is what I said).

@icedquinn @melovida @clacke @Springnat

@Springnat @icedquinn

Whether you think of it as a currency or not does not mean they are taking the money out of the US economy. They are using it it to buy things here in the US, it is still very much a part of the US economy.

@Atlas_Khan @melovida @clacke

@Springnat

No I recognize it benefits those in debt, just as it benefits those who arent in debt and invest.. It benefits everyone, thats the point.. The difference is when you have a currency that doesnt inflate and people just putting huge wads of cash in the bank is therefore more encourage NOW what you have is an economy which encourages debt, because that money gains profit only through being loaned out, but does not encourage investment without debt.

So in short, inflation means everyone benefits, including the debtors... lack of inflation means the debtors are the only ones benefiting while the rest of the economy takes a hit.

@icedquinn @melovida @clacke

@Atlas_Khan

Dont ask questions you dont want thoughtful and complete answers on. Its not my responsibility to cater what I write to someones poor reading skills/speed.

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

Wrong, it is bad when it happens fast, good when slow. But you are welcome to believe wrong things, you dont need my approval.

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

You are welcome to think that, you are wrong, but your welcome to think it all the same.

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

Well for starters they arent taking wealth out of US dollars, no more than someone is doing so when they take US dollars and invest in anything. They are doing exactly what I said responsible people should do, that is, invest their US dollars rather than hoard it. Since bitcoin is a growing technology still being adopted it is a growing asset and not acting like a fiat (yet)

But to answer your question, why bitcoin (or other cryptocurrency for that matter).. simple, because they add function that doesnt exist, just like any technology. They allow for instant transfer of money across borders, unlike the hassles of something like western union. It enables trustless contractialization of money (no reliance on courts and lawyers but instead using systems like Stacks to enforce money contracts), and enables automatic, garunteed, and provable accounting. No one in their right mind is buying up bitcoin simply because its some fixed fiat and nothing else.

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

Whatever you say buddy.

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

It is always when a person doesnt have a leg to stand on in their argument they resort to personal attacks.

I have had more than enough success predicting economic events and profiting off them to have proved my understand of economics. You're welcome to disagree of course, but it doesnt appear based on understanding, just your personal dogma (which is why your having a fit when your dogma is debunked).

@icedquinn @melovida @clacke @Springnat

@Atlas_Khan

No, inflation causes asets to **gain** value while money to **loose** value.. No one takes money out of an economy when there is healthy inflation, they move it from money to aset wealth and profit off the inflation directly.

@melovida @clacke