Artist, linguist, armchair economist, timechain maximalist. Producer @whatbitcoindid

USA
Joined April 2008
Inflation is the source of most problems society faces today. Real costs decline, prices rise, but wages don't. This illusory phenomenon has disrupted all exchange, entrepreneurship, workers, savers, and borrowers; it's corrupted our lives and culture. 1/
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Recording ⁦@Rob1Ham⁩ on ⁦@WhatBitcoinDid
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Then this happened...now Peter has a rare Pepe and 6.15 pepecash
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In NYC tonight, where my NYC bitcoiners at for late-night?
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Can you guys stop trading and reboot the blockchain now?
This is par for the course in “crypto”. Centralized clown shows. This is why Bitcoin is not in the same category. Only Bitcoin matters. We say it a lot because it’s true.
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Ahem.
3% of the people buying NFTs will profit off the other 97% buying right now. You are not the 3%. 90% of collections will go nowhere, most buyers will lose money and use survivorship bias to convince themselves they are in the winning trade.
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Every headline inflation number is a PAY DECREASE, did you get a 6% raise this year to compensate? Did you get a 3% raise every year before that? If not you are getting pay decreases every year. Get mad, and get #bitcoin.
Imagine your employer said you would be receiving a permanent 5.4% pay decrease. How upset would you be? It is time to start paying attention to #inflation.
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Ben Prentice retweeted
Replying to @bitcoinpasada
I've talked with dozens of SMBs about this. It's complex, but overall here's my take: If your new employer lowers your pay by 30% but says your job is to do whatever you want 40hrs/week, how much would I have to pay you to get you to work? 30% more? 60% more? It's high.
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I'm pleased to release the 1st episode of The Wholesome Crypto podcast! My first guest is Ben Prentice, @mrcoolbp who has widely contributed to the space as... Producer - @WhatBitcoinDid Co-Author - wtfhappenedin1971.com Podcaster - bitcoinechochamber.com 🙌⚡️
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Ben Prentice retweeted
Let’s address then elephant in the room. The transmission of funds has been weaponised by the US government and it prioritises this over frictionless trade and prosperity.
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It also applies to inflation.
The rule of compounding applies to more than just investing
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Ben Prentice retweeted
Replying to @mikealfred
The second order analysis is that the current petrodollar framework isn't even benefiting most of the US anyway. Too many people assume US hegemony = US flourishing, which isn't true for 90% of Americans. lynalden.com/fraying-petrodo…
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Ben Prentice retweeted
Analyzing what is good for "US the empire" (global influence, foreign military bases, constant wars, sanctions) vs analyzing what is good for "US the country" (growing median wealth, domestic safety, economic flourishing) are two very different and often conflicting things.
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Ben Prentice retweeted
If it was possible to make a blockchain DNS (like namecoin) without a shitcoin, what would you think of it? What are the problems of this approach? What is the best way to structure it so it is good and useful?
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Everything will have to move onto layer 2 to cut fees. What's the point of ETH layer 1 again??
We need to move NFTs onto the layer 2 ecosystem to cut fees. However, doing that *right* requires good cross-rollup portability standards, so the ecosystem can avoid getting locked into one particular L2. I make a cross-rollup portability proposal here: ethresear.ch/t/cross-rollup-…
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Ben Prentice retweeted
Passive Investing is communism @FossGregfoss knows what I’m talking about It socializes capital allocation, it kills natural competition by rewarding the incumbents (via weighted indexing), and it props up declining capital allocators.🧵👇
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Perfect example of whackamole policy-making: Govt prints money -->Easy money drives home prices out of reach of young savers --> Govt has to intervene in the market again --> This will create new problems and need more interventions It's a viscous cycle.
Houses shouldn’t sit empty when so many Canadians are trying to buy a home. So, we’re going to ban foreign ownership in Canada for the next two years, and tax the existing vacant, foreign-owned properties.
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Nothing to see here, move along, NIRP is normal now.
Holy Shit. 85% of US junk bonds have negative real yields - after 08' it peaked at 10% Pair this with the fact that 25% of global government debt yields negative NOMINALLY. Never in history has the world seen more negative yielding debt - markets are backed into a corner.
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Also he is broadcasting inside a literal potato
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