Editor’s Break 045 has Skyler giving his commentary on the following topics: the U.S. budget deficit and taxpayers as collateral, universal ethics and what that means for human/animal relationships, the so-called social contract, the revolutionary nature of cryptocurrencies like Bitcoin, gradualism in abolishing crime, and more.
Revolutions do not typically happen overnight, especially one so bold as to question the necessity of a motor as powerful as centralized banking coupled with seemingly limitless government power.
I’ve heard many people say they wish they had bought just a little bit of bitcoin 5 years ago. I hear ya, but that train has left the station and there’s nothing you can do about it besides get smarter for the next opportunity you’ll need the intelligence to recognize.
Rather than letting market forces incentivize innovation, net-neutrality supporters are advocating that the state step in and force the internet to maintain a status quo that the market, in response to the increasingly high demand for a scarce resource, may or may not want to keep.
Bitcoin split into two different versions back in August, after years of debate between insider experts, outsider novices, businesses, hobbyists, tech-types, ideological types, investor types, and everyone else you can imagine.
One of the coolest parts is the ease with which crypto enables markets in areas previously difficult to monetize. Micropayments alone – the ability to exchange fractions of a cent since fees are so low – open a world of possibility.
It should come as no surprise that, when the government teaches, it happens to teach that government is a positive good, and that without government, there’d be no roads, and we’d all be at the mercy of war lords and other horrible creatures. So shut up, submit, pay your taxes and follow the rules.
Money is a lot of things. Predominantly a unit of account, a store of value, and a medium of exchange. We’re quite used to these functions being split up and handled by different tools.
Money provides such an advantage over barter, that it is indispensable for a functioning economy today. Modern civilization has been accustomed to a government or pseudo-government entity creating and maintaining a money supply. Indeed, these currencies have dominated the economy across the globe throughout living memory. Recently, cryptocurrencies have been on the rise, but they are far from replacing dollars, pounds, and yuan. In a truly free society, how would money be provided for the economy?
When JPMorgan Chase CEO Jamie Dimon called Bitcoin a “fraud,” what ensued looked a lot like a “poop and scoop” con: The practice of driving down a thing’s price by saying bad things about it, then buying up a bunch of it before the price bounces back.