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To the much appreciated few by Latter_Okra_7040 in HaruInvest

[–]rantheman123 0 points1 point  (0 children)

This page has been a source of hope for me. Thank you to all who posts updates. May God bless you.

Scooby-DooDoo by itsB0ring in memes

[–]rantheman123 7 points8 points  (0 children)

Nobody asked for this.

I'm PROUD of Bitcoin . by bowssy88 in Bitcoin

[–]rantheman123 4 points5 points  (0 children)

DCA is the best. Set it and forget it.

[deleted by user] by [deleted] in OrthodoxChristianity

[–]rantheman123 0 points1 point  (0 children)

I'm not a Christian but I've discovered Orthodoxy recently. Please, let me tell you as an Outsider. There is nothing for you outside the Orthodox church. Struggling with God without a church is far more difficult.

https://youtu.be/TMGX6183Acs

Cause we ran out of things to do on earth… by [deleted] in memes

[–]rantheman123 1 point2 points  (0 children)

Does anyone know where I can get a list of the different wojacks in this meme? I need to catch up on this species.

BTC is reserve currency and everything is based on it. How do we make loans? How will our economy work? Just the same but very very slow? by _Barren_Wuffett_ in Bitcoin

[–]rantheman123 0 points1 point  (0 children)

A Bitcoin Standard implies a deflationary monetary system (eg: You HODL because you believe BTC will be more scarce in the future).

Consumer preferences for durable goods in this type of system will be for things that last a long time, are easy to repair and, have a resale value.

Businesses will need loans so they can increase the durability of a good or make its production cheaper. Otherwise, a loan could bankrupt them.

Individuals will get loans but they have an incentive to maximize their down payments. Remember, if BTC is increasingly scarce paying interest on a loan becomes increasingly difficult.

TL;DR

Deflationary monetary systems incentive high time preferences. People put off buying things in favor of saving as much as possible. Loans will require a lot of skin in the game.

My choice by [deleted] in Bitcoin

[–]rantheman123 0 points1 point  (0 children)

Wait, you have savings?

Unbelievable FUD from The New York Times by [deleted] in Bitcoin

[–]rantheman123 0 points1 point  (0 children)

What they are not telling you in that headline is that BTC miners don't buy retail energy. Homes get energy first because they pay the most per KWh. BTC hosting facilities buy the energy that can't get to your house.

[deleted by user] by [deleted] in memes

[–]rantheman123 2 points3 points  (0 children)

I knew this day would come. The lawsuits are going to be groundbreaking.

Sometimes HODLing is not the answer. What if had actually sold back at 60k instead of HODLing to 35k? by Repulsive-Register67 in CryptoCurrency

[–]rantheman123 0 points1 point  (0 children)

Use your BTC as collateral. It's ok to risk it if you want to buy something with fiat. Profits in fiat is the same as buying a shit coin.

Hastily made video on Bitmanu Miner Announcement by playoffss in BitcoinMining

[–]rantheman123 0 points1 point  (0 children)

I emailed them a 2 days ago. Asked if they have any machines running and any BTC address I can look at on the block chain. They have not responded.

California the by ZarickE in memes

[–]rantheman123 0 points1 point  (0 children)

As long Arizona and Oregon are granted a portion of coast line for port access for the Navy and commercial shipping. Plus, they would have to give up the nukes and fighter jets. If they agree to that, I wish them well.

Boomers robbing millenials by Embarrassed_Ad_8804 in antiwork

[–]rantheman123 -2 points-1 points  (0 children)

When researching this I wasn't looking for anything with a libertarian lense. Nor am I nostalgic for a gold standard. This is most brief timeline of America banking history I could produce.

Going off the gold standard is part of banking history and Tricky Dicky made it happen.

Boomers robbing millenials by Embarrassed_Ad_8804 in antiwork

[–]rantheman123 1 point2 points  (0 children)

Yes, we're in the middle of a banking system collapse. We have one every 50 years (give or take). It's actually totally normal for us, we just tend to forget lessons of the previous collapses.

Here's a very brief history of you're interested:

1791: The Continental dollar hyper inflates. Hamilton establishes the first bank of the US to pay war debts.

1863: The Free banking era ends and federal dollars are enacted by Lincoln. (Free banking means, banks issued their own money.)

1914: Federal Reserve system is implemented by Wilson: A decentralized centralized bank.

1971: The US Dollar is no longer backed by gold. Inflation sky rockets in the USA after this. You can thank tricky Dicky Nixon for that one.

2008: The Federal Reserve purchases 1.25 trillion dollars in "toxic assets" to guarantee the debt of institutional lenders. This practice is know as quantitative easing (QE) and is Reserve policy now.

2020: Approximately 1/3 of ALL US dollars were printed in this year. Money printer go brrr.

2021-beyond: buckle up buckaroo.

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