@brandon Glad you asked :)
In the current debt-based financial system, money makes money. The rich and the big companies can take loans at ridiculously low rates to increase their profits even further. Their rates are often significantly lower than the rates smaller players get. This debt system is powered by money printing schemes like QE.
In a #Bitcoin-based economy where fractional reserve banking is not possible and QE even less, it will be a lot harder for rich people to become richer.
@stevenroose I'd say it still doesn't relate to bitcoin as the economy being spoken of exists solely in the debt-based financial system, Bezos is spending US dollars, not bitcoin, and Amazon doesn't accept bitcoin (at least not that I know of)
I feel like it's quite the reach. I don't mean to be insulting, I promise
Bitcoin is relevant here because the Bitcoin project exists to disturb the existing financial system that started after the first World War when governments gave up the gold standard to be able to print money to finance the wars.
With Bitcoin we can go back to before that time, to a system with hard money that encourages working and saving instead of rent-seeking and borrowing.
The quote explicitly states that Bezos is a product of the current financial system.
@stevenroose The topic in the tweet being discussed is "Is space exploration good for the economy?" not "Is bitcoin going to fix the economy?"
Again, your premise is a reach
I'm not saying the topic of the tweet I linked is Bitcoin.. I'm saying the tweet is relevant in the light of the Bitcoin project, which I'm part of.
I couldn't care less about space travel, but if I read "we're gonna have to pretent like that's normal for an economy", than for me as someone working on a project to try and change that exact economy the tweet criticizes, for me that's relevant and a reason to post the tweet in that light.
If you disagree, please mute me.
@stevenroose Aahh, I get what you're saying now. But I think it would have been more beneficial to add a comment making the connection between the screenshot and your premise, as it would make things much clearer and we wouldn't be having this "he said she said" standoff
Fosstodon is an English speaking Mastodon instance that is open to anyone who is interested in technology; particularly free & open source software.