Part of the reason why housing is scarce is because we don't have enough labor to build homes
Since houses are scarce, they've become a financial asset
How many resources the current financial system extract from society (mostly in terms of labor)?
#Bitcoin disrupts the financial industry by eliminating individual human involvement in financial decisions, like deciding interest rates
We pay people to predict where the market is going so that they can manipulate people into spending or saving
This is essentially what the Federal Reserve's job is!
Banks exist to store money, lend money, and give us a way to not have our money stolen via inflation
THEY CREATE THE PROBLEM THEN GIVE US A SOLUTION
Bitcoin makes it so that the market decides prices and rates for itself
On a Bitcoin standard, 90% of the financial industry wouldn't exist
The biggest reason for this is that we won't need millions of bank branches and ATMs to store our money!
What happens to all those resources when Bitcoin replaces the current financial system or eliminates all redundancies?
They will be used to solve more important problems, like building more houses, growing better food, and finding solutions to real problems, because that will be the only way to make money
rajatsonifnance / Rajat Soni, CFA
npub13w…pnp8z
2024-04-26 23:31:48
Author Public Key
npub13wl6gy2kp02zafh6vr8jfh58mzxxeza7as5mmx325xyq9x4z9rxqgpnp8zPublished at
2024-04-26 23:31:48Event JSON
{
"id": "21fcf265922363fd2a8931d75ff5b07ed4c8b7e98197988c0810ad52f6801ac4",
"pubkey": "8bbfa411560bd42ea6fa60cf24de87d88c6c8bbeec29bd9a2aa188029aa228cc",
"created_at": 1714174308,
"kind": 1,
"tags": [
[
"t",
"Bitcoin"
]
],
"content": "Part of the reason why housing is scarce is because we don't have enough labor to build homes\n\nSince houses are scarce, they've become a financial asset\n\nHow many resources the current financial system extract from society (mostly in terms of labor)?\n\n#Bitcoin disrupts the financial industry by eliminating individual human involvement in financial decisions, like deciding interest rates\n\nWe pay people to predict where the market is going so that they can manipulate people into spending or saving\n\nThis is essentially what the Federal Reserve's job is!\n\nBanks exist to store money, lend money, and give us a way to not have our money stolen via inflation\n\nTHEY CREATE THE PROBLEM THEN GIVE US A SOLUTION\n\nBitcoin makes it so that the market decides prices and rates for itself\n\nOn a Bitcoin standard, 90% of the financial industry wouldn't exist\n\nThe biggest reason for this is that we won't need millions of bank branches and ATMs to store our money!\n\nWhat happens to all those resources when Bitcoin replaces the current financial system or eliminates all redundancies? \n\nThey will be used to solve more important problems, like building more houses, growing better food, and finding solutions to real problems, because that will be the only way to make money",
"sig": "c52f87bf9c86a854063378585aa9d367e98c7f0e7df4eab37f48cb320696e540e62395c5bc80b8a2c455466e9027c74a59b1317379447d3b29e77c71200e1023"
}