Pinned toot

Capital needs to be preserved. Economic growth requires strong property rights to encourage people to save and invest. Sustaining large populations of people requires economic growth through capital goods and innovation. Taxes and debt destroy civilizations.

- H.-H. Hoppe

Well, that's what happens when you leave socialists ruling a country for too long. Incompetence at highest level.

theguardian.com/world/2018/sep

It's disheartening to see statists and tax apologists even among maximalists.😐

@r1776 The best thing I could hope for is that the kind of people who prefer to be alone in the library doing research all day or in the studio creating art are given the financial freedom to do so. There's an incalculable amount of time and energy being wasted on working to make ends meet.

SLP15 – Intellectual Property, Bitcoin, and Internet Censorship, with Stephan Kinsella

- Money as Sui Generis good
- IP
- 'ownership' of BTC
- Internet censorship and online platforms

Hope you enjoy the pod. Please subscribe and share!

stephanlivera.com/2018/08/18/s

Time preference also regulates economic exchanges between you and your future self.

The more you care about your future self, the lower your time preference.

Mastodon is proving a anti-chilling effect..

It makes me less afraid of losing access to my Twitter account.

Scammers are enemies of argumentation ethics, property rights, logic, and truth.

And, one should "never interrupt your enemy when he is making a mistake."

Helping bcash not only propped up that scam, but it also artificially prolonged the life of bad actors Bitmain so they can potentially IPO. Remember ASICBOOST and the Patent? I guess someone didn't. This is the Bitcoin equivalent of a Central Bank bailout of a failing company, that will now continue to drain resources and poison against Bitcoin. They should have been allowed to fail and liquidate. Then someone ethical would have bought them out and made them beneficial. twitter.com/Excellion/status/1

SLP11 - Bitcoin's Decentralised Governance with @pierre_rochard Pierre Rochard and I talk through Bitcoin’s Decentralised Governance. This is the process by which Bitcoin’s rules are decided, implemented, and enforced without having a central authority.

Search "Stephan Livera Podcast" on your podcast app

stephanlivera.com/2018/08/13/s

"If it were really possible to substitute credit expansion (cheap money) for the accumulation of capital goods by saving, there would not be any poverty in the world."

- L. von Mises

5/5

"Thus, just as insurance premiums are the price paid for protection against risk aversion, so cash holdings are the price paid for protection against uncertainty aversion."

-H.-H. Hoppe

4/5

"Only present, instantly serviceable goods can protect against unpredictable contingencies (uncertainty). Nor does a man want to invest in consumer goods for uncertainty protection. For an investment in consumer goods, too, is an expression of certainty concerning specific momentary or immediately impending wants. Only money, on account of its instant and unspecific wide-ranging salability, can protect him against uncertainty."

-H.-H. Hoppe

"In distinct contrast, insofar as man faces uncertainty he is, quite literally, not certain concerning future contingencies, i.e., as to what he might want or need and when. In order to be protected against unpredictable contingencies at unpredictable moments, he cannot invest in producer goods (as in the case of risk insurance); for such investments would reflect his certainty concerning particular future needs."

-H.-H. Hoppe

"... as man faces a risky future he does not need to hold cash. [...] to be protected against risk, he can buy or produce insurance. The [...] money that he spends on insurance is an indication of [...] his aversion to risk. Insurance premiums are money spent, not held, and are [...] invested in the physical production structure of producer and consumer goods. The payment of insurance reflects a man's subjectively felt certainty concerning (predictable) future contingencies (risks)."

-H.-H. H.

Risk vs Uncertainty: A Reason to Hodl

"Risks (instances of class probability) are contingencies against which it is possible to take out insurance, because objective long-run probability distributions concerning all possible outcomes are known and predictable. We know nothing about an individual outcome, but we know everything about the whole class of events, and we are certain about the future."

-H.-H. Hoppe

Show more
Bitcoin Mastodon

A mastodon instance for Bitcoin Maximalists.
No scams, no shitcoin, no impersonation, no begging, and no illegal content.
Keep it civil and we should all survive :)