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The term 'risk free interest rate' is a farce standing upon an abomination. Lending out your money is never risk free. Holding on to the money is not risk free. It is completely risk free to use this nonsense term within academia, however.

Though this is correct (saving precedes economic growth), I still like the idea of people going crazy in las Vegas! Shows they want to be human, and not lock themselves inside, alone, while waiting for instructions on the next vaccine shot.

Reasoning with lockdowner zombie brains is in fact often a waste of time, you are correct.

I'm not on Twitter or Twetch to win debates. I am here for enjoyment and learning, and if all goes well I will have some fun while protecting and growing wealth.

No, the graph is correct. For each year, total deaths are divided by the size of the population (growing every year). If you look at the graph I provided, you can see that 2020 was indeed worse than the past 7 or so years, but better than all others.

I think it did its job of putting all this in proper perspective. I liked the 90's, and the 00's, those were great years. We should stop pretending 2020 was so bad when more people died all those other years that we liked so much.

Covid seems slightly worse than regular flu, hence the small uptick in deaths 2020 as you can spot in the graph. You and your family can take the precautions you deem fit. Forcing businesses to shut down and families to lock themselves inside is wrong.

The independent Central Bureau of Statistics reports complete data, often to the detriment of ruling government. You might just have to accept that you are blowing this out of proportion by watching the news.

Didn't say that.

If that graph makes you so scared that you want to impose tyranny on others, we have nothing in common.

That's retarded-level of economic illiteracy. I think a related argument is "fee pressure for security". That specific argument for small blocks was iterated in Matt Corallo's latest appearance on Stephan Livera's podcast, and is only slightly less stupid.

IMO there are reasonable objections to large blocks, such as the ability to define protocol rules (though only so far as the node is economically relevant with regards to on-chain 'balance' and tx fee-levels). And the troubles with hard forks.

If you save, you are a super-hero building civilization. But beware of evil Dr. Spending. He has infiltrated even the highest branches of government, and he hates civilization!

Soon.

https://twitter.com/mikeinspace/status/957082775374499840

If Numpties trolltoll me, my lawyers will have them Thailand'd.

Welcome to the Children's Crusade, everybody. Get in line, the Lord bless you. Once we reach Italy, the sea will open for us and we will walk to reclaim Jerusalem.

#hyperbitcoinization

You are not seeing the forest for all the trees. If the 'rona is so dangerous, why did not more die in Sweden, in 2020. Official death statistics are out and it was the 7th or 8th best year ever. 2020 was a great year in terms of people not dying.

You hoard eggs and tendies, cute! If you truly believed in hyperbitcoinization, a single Bitcoin can buy you a mansion in the future.

Under an easy money regime, degenerate asset speculation runs rampant - everyone is in on it. Here is the stock price of Sweden's largest stock broker, deriving its revenues mainly from retail trading. Speculate on that as well, while you're at it.

Sure, we don't live forever. Though if you can delay steering the flock of Fisher quantity theory birds and whatnot, to where the food actually is, then you might have time to grab a bit more of it before you all start cooperate better.

I did not mean deceit, but simply keeping quiet about what you know of how money works, and speculate on the future accordingly while waiting for others to understand. Nothing wrong with that!

Worth mentioning is also that the level of strategic thinking exposed in the interview, is high. No one has any incentive to tell you how money works - especially in these times where monetary monopolies can be challenged by the market.

So when you hear "the value of Bitcoin is the other Bitcoiners", it sounds more strange than it is. It's just a way of rewriting the benefits of Division of Labor; money only has value if people specialize and exchange with the help of that money.

Given one money then, harder level of Austrian Econ is forming some idea about what the value of that money must be. No uncertainty means no money, no entrepreneurs. @24 derives value of money from uncertainty; specifically entrepreneurs acting under it.

Why was it hard? Easy level on Austrian Econ is understanding Menger's saleableness framework and implications for monetary competition and end result (always tending towards one money).

Daniel is formulating an Austrian Theory of Money really, really well here. Parts of it will sound weird at first but it is true nonetheless (personally it took some time for me to get).

Numpty Pump going on right now.

When you misunderstand the value of exchange: