society has high time prefence, per saifedean (npub1gdu…6nak) due to inflation, which drives the endless unnecessary consumption, but that’s a separate issue IMO from billionaires existing. And I’m not sure how wealth is “hoarded” because if you store your wealth in bitcoin for later use to build the next Notre Dame, surely that massive amount of purchasing power was put to good use when the vision for the project occurred to you and without which the next Notre Dame would not be possible.
Billionaires are just people who get to decide how to allocate resources at greater scale. A regular person gets to decide where to eat lunch, what kind of phone to buy, but a billionaire can allocate to build a rocket if he chooses. I don’t think “hoarding” comes into it, so long as your gains are not ill-gotten.
I do think bitcoin will level the playing field clawback, so to speak, a lot of the Cantillionaire fiat that is ill-gotten by devaluing it. In a way, it’s reverse Cantillonism, wherein the closer you are to the money printer, the more of your relative wealth gets devalued.
Chris Liss /
npub1dt…4hgu0
2025-04-05 12:58:59
in reply to nevent1q…kpmg
Author Public Key
npub1dtf79g6grzc48jqlfrzc7389rx08kn7gm03hsy9qqrww8jgtwaqq64hgu0Published at
2025-04-05 12:58:59Event JSON
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