ie: There is not enough margin left for the ‘leaf user’ to create any ‘real value’ - it’s all been ‘exited’ by the vampiric ‘value = velocity + future product’ machine.
This is why the rich stay rich despite producing practically no value through labor.
So, to see ‘value in velocity’ requires decomposing the scenario and isolating the ‘environment’ in which the commerce happens; errantly attributing the lion’s share of value creation to ‘the system’, not the individuals transacting.
ie: ‘exit mentality’
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
1J6h7Bex83EVCGvamT5LMVm9MECX4bSquW VerifiedIn a way, this is part of what’s wrong with the speculation-seeking forks of Bitcoin 🐍
While I’m long on BitCoin as a tool, I’m less certain about the ultimate intrinsic viability of pay-to-play systems of equitability. First-mover advantages, etc.
People can transfer money back and forth to one another (that is, increase velocity) without increasing any motivation for savings. That means that the value doesn't go up and you shouldn't buy more. Value is what makes people want to save.
So, if Savings are low while Velocity is high, isn’t the inference that the Value is Inflated?
How can Velocity fix a problem it created without a market-wide Correction?
But saving isn't necessarily hoarding cash, right? Usually it is not.
Yes savings means the amount you hold in cash.
This is fair. What are some other forms of saving?
If it doesn't increase GDP it doesn't increase velocity.
GDP is a scam!!!
Maybe doesn’t rise to a scam, outright.
A tool, yes. Abused? Sure.
All sorts of rubrics become attractors in capitalist systems; that’s the point, right?
So we need to ‘be the wiser’ + shepherd our use of old + new tools .. vs succumb to their tendencies.
Maybe doesn’t rise to a scam, outright.
A tool, yes. Abused? Sure.
All sorts of rubrics become attractors in capitalist systems; that’s the point, right?
So we need to ‘be the wiser’ + shepherd our use of old + new tools .. vs succumb to their tendencies.