Crypto

purpose of every monetary or cooperation system should be:

  • 1. medium of exchange
  • 2. store of value

but most importantly:

  • 3. help people help each other

no matter if DOLLAR, EURO or BITCOIN,

if it does not satisfy the 3rd requirement,

then the system is fundamentally broken,

will not create value,

then it does nothing for it’s users (lacking purpose)

(that’s not in Rutger’s book, but the cover fits the topic, does mankind want to survive and evolve in the universe?

Or degenerate and in the worst case, go extinct, and then, be history or does mankind want to be a hopeful STORY of the present and future? (not HISTORY))

https://ytpak.net/watch?v=DxREm3s1scA

    • Elon says “I am not Satoshi Nakamoto” (the “inventor” whitepaper ghost writer of bitcoin) (many people have claimed to be Nakamoto to get famous)
    • What is the current monetary system? (FED, ECB)
      • Elon: “a bunch of mainframes running ancient cobol”
    • What is money?
      • Elon: “a database for resource allocation”
      • comment: yes, that is what money should be and those resources should be allocated in a way that makes sense – sense like: ensure the sustainable (ongoing) survival of mankind – but it is not – it is: whoever is sitting closest to the FIAT money printing press, is getting “rich” (allocates a senseless amount of resources for himself/herself/family while starving the rest of the planet)
      • it is broken broken broken: FED buys “value”papers issued by companies $ 120 billion A MONTH (!) with self-printed money
        • while telling the people “it’s okay” or it will be “temporary” (La Guarde ECB), because the THEORY is: if banks print money and give it to banks for buying stocks (trade paper against paper) there will be no inflation, in 2021/2022 everyone knows: ANOTHER DAMN LIE TO EXPLOIT PEOPLE!
      • Elon falesly (like 99% of all people) think the goverment makes the monetary rules and prints the money, guess what, that is not true, the privilege of seniourage (the right to print money) was taken away from the government (the state) to a “independent” entity, because the government would probably missuse this privilege and print too much money, well exactly what is happening now X-D
        • Old French seigneuriage, “right of the lord (seigneur) to mint money”
    • What is good about bitcoin and fundamentally different to the current monetary system: it is distributed, not centralized (anyone with computers and energy can run it)