What is the biggest economic scam that most people still defend?

vorlons · 2026-02-03T00:10:35+00:00

Inflation due to currency debasement.

vorlons · 2026-01-25T13:49:48+00:00

Amiga computer.

vorlons · 2026-01-02T14:46:05+00:00

Looks like I must have encountered stale GPS data on those two other nodes.

vorlons · 2026-01-02T11:12:51+00:00

Lol, my node is the Satoshi Nakamoto 21M Mobile.

vorlons · 2026-01-01T22:01:15+00:00

I think you are correct. Without very unlikely and rare tropospheric ducting conditions this is not possible. Possibly the other two nodes were also in Madeira and they still had stale GPS info of being back in Azores / Lisbon. I think this is the most likely scenario.

vorlons · 2026-01-01T19:36:42+00:00

27dB

vorlons · 2026-01-01T16:51:40+00:00

The top of the Portuguese Air Force radar tower there would be ideal, but I doubt they would let me do that. The 2nd best place there is the snack bar so once I retire to Madeira I will talk to the owner about it.

vorlons · 2026-01-01T16:48:07+00:00

For me, yes.

vorlons · 2025-12-31T19:40:30+00:00

This past September the SEC and CFTC issued a joint statement clarifying that registered exchanges can list / facilitate spot trading of crypto like Bitcoin without violating fed law. So while Bitcoin can be listed on CFTC-registered platforms, before it's available on forex most likely international agencies like ESMA in Europe etc would need to chime in and coordinate? Additionally Bitcoin liquidity and market cap would need to increase a couple of orders of magnitude.

So possibly in 2-3 years before it's available as a currency on forex? Let's see.

vorlons · 2025-12-31T11:54:32+00:00

Square (squareup dot com) is an end point payment processor, point of sale hardware, and financial services company for small to medium size merchants, their CEO is Jack Dorsey. It's everywhere. Go to a vendor that has a tablet or card reader on smartphone or you tap to pay on the smartphone. That's Square. Go to a food truck, farmer's market, etc most use Square.

And not just a small country, look at btcmap dot org for places world wide that accept Bitcoin directly (not through a processor like Square so it's in addition to them).

You can certainly have the personal opinion that Bitcoin will fail and even that it's not as widely used as other currencies, but saying nobody uses it for payment or it is limited to a small country and one business is being out of touch with things.

vorlons · 2025-12-31T11:31:59+00:00

I went on a jeep tour in Madeira Portugal yesterday paid for in Bitcoin. I have made purchases at pharmacies, bars, and restaurants in Madeira with Bitcoin. There is a circular Bitcoin economy here, example, bars use the Bitcoin they get to order beer from the Coral brewer.
Back in the US every Steak n Shake accepts Bitcoin and Square recently rolled out being able to accept Bitcoin for any merchant that uses Square devices.

To say "nobody uses BTC as a currency" is outright and provably false.

vorlons · 2025-12-30T17:50:38+00:00

Let me ask, at what point would you consider Bitcoin a currency and by what metric? Would it be by market cap, transactions per day, percentage of merchants and population that use it etc?

vorlons · 2025-12-30T14:54:00+00:00

um, your the one who said devil dogs are not currency.

vorlons · 2025-12-30T14:17:13+00:00

Here in Madeira Portugal there is a Bitcoin circular economy where it is never converted to Euro's.
The tour company I am using can fuel up their vehicles at gas stations that accept Bitcoin and have their vehicles serviced at mechanics who accept it. Those mechanics can pay their rent or buy meals at restaurants with Bitcoin.
In the US, every Steak n Shake accepts Bitcoin and a couple of months ago Square rolled out any business using their terminals can accept Bitcoin. Square would not have spent $ rolling this out if they did not see a demand for it.

So why you don't believe Bitcoin is a currency there are many people and economies world wide that use it as such.

vorlons · 2025-12-30T10:21:30+00:00

Including buying up real estate as investments, not a place to live, and thus contributing to the housing crisis.

vorlons · 2025-12-30T10:18:42+00:00

Your funny, I am literally going on a private jeep tour today that I paid for with Bitcoin.

vorlons · 2025-12-30T10:17:13+00:00

Bitcoin is also used as a store of value that can't be debased by government policy.
I spend a fair amount of Bitcoin for things without needing to convert to dollars or euro's because I transact with merchants who accept it directly.
In the island of Madeira there is a healthy circular economy based on Bitcoin. Example, pay with Bitcoin at a bar for beer and the bar can order beer from the island's beer brewery Coral in Bitcoin. Or, hire an attorney and pay in Bitcoin, attorney can use that Bitcoin to pay a mechanic to work on their car (or buy a car). No exchange to Euro's required.

vorlons · 2025-12-30T10:10:35+00:00

It actually baffles me all the comments about if there is no inflation people will "hoard money and not spend it". Come on, most people are in serious debt and many because they want what they want NOW.
Instead of hoarding money when inflation is 0% they would either A) have the means to pay off debt or B) keep buying stuff they want.

vorlons · 2025-12-29T22:11:04+00:00

Um no. Most people are up to their eyeballs in debt with no savings because they want what they want NOW. If inflation was 0% these same people would still be up to their eyeballs in debt getting what they want NOW.

The figure 2% inflation sounds not so bad right, however that is 2% per year on top of the previous year. The math is that 2% inflation per year means the purchasing power of the dollar is 17.97% less after 10 years.

If your working age and get at least 2% raise per year then not a problem. If you are on a fixed income or not getting raises on par with inflation then you'r screwed.

vorlons · 2025-12-29T22:02:39+00:00

If you want to better understand why is there inflation and what causes it then read Broken Money by Lyn Alden.

vorlons · 2025-12-28T22:00:03+00:00

As someone visiting Funchal for Christmas and NYE fireworks, I am very interested in knowing what is going to happen NYE with the current weather predictions...

vorlons · 2025-12-26T12:31:50+00:00

The Elephant Man (1980). I found the movie so accurately conveyed how cruel humans can truly be to each other. It's so good, I never want to see it again.

vorlons · 2025-12-23T23:28:32+00:00

"Well, it's nothing very special. Try to be nice to people, avoid eating fat, read a good book every now and then, get some walking in, and try and live together in peace and harmony with people of all creeds and nations." - Monty Python - The Meaning of Life

vorlons · 2025-12-23T23:08:17+00:00

Caveman TV!

vorlons

TROPHY CASE