lloyd_dunne on Nostr: bitcoin or shitcoin? 'Citizens' constant vigilance is more effective in preserving a ...

bitcoin or shitcoin?

https://bitstein.substack.com/p/toward-a-node-world-order

'Citizens' constant vigilance is more effective in preserving a stable currency than numerous laws and bureaucratic agencies.'

The
text discusses various topics related to economics, money, and the role
of bitcoin.
It emphasizes the importance of technological innovation and the
accumulation of capital goods and technology for economic growth.
It also highlights the role of money as a medium of exchange and the
historical use of gold as money.
The text mentions the challenges and vulnerabilities of using gold as a
medium of exchange and the potential benefits of using bitcoin.
It argues that running a full node and holding private keys is necessary
for ownership, scarcity, and censorship-resistance in the bitcoin
network.
The text suggests that bitcoin has the potential to become a global
reserve currency and upgrade the economic operating system.
It concludes that dependence on bitcoin will grow, leading to increased
security and productivity in the economy.