Progressive Bitcoin UK
@progbtcuk
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Epic episode of what bitcoin did. @gladstein and HRF is doing the most important work in bitcoin. Bitcoin is freedom money that can liberate people all over the world from oppressive systems of control and surveillance. We need to get back to focusing on the real mission.
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"Energy cost"? I think you mean "energy demand". Demand that will be backed with money from data centre & AI companies to pay for said energy. Money which represents the only hope for funding much needed build out of massive renewable generation and grid upgrades.
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JPMorgan, the world's most systemically important bank, deemed too big to fail, now accepts Bitcoin as collateral. The global financial system is slowly recollateralizing itself around the highest quality asset known to man.
All bets are off once the banks can collateralize bitcoin. Fiat loans secured against absolutely scarce liquidity that can be called in instantly 24/7/365. Bitcoin belongs at the base layer of global credit.
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Coinbase's messaging is so degenerate. Bitcoin is the best savings technology that has ever existed and @coinbase's first push notification after someone buys is that they can now actively "trade" their bitcoin.
Setup my Coinbase account and made my first official Bitcoin purchase. It’s a small start, but it’s still a start.
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Bitcoin = + Blockchain + Proof of Work + Difficulty Adjustment + Block Reward + Supply Cap Take time to understand each element and the elegance of the whole system becomes clear. A great breakdown by @kinetic_finance
⚠️ They say no one can explain Bitcoin in under 10 minutes. Most overcomplicate it. Most miss the point. Challenge accepted. Give me 9 minutes and you’ll finally get it. The system, proof-of-work, and the genius that holds it all together. 💥 THE EXIT MANUAL – EPISODE #8
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When you understand Bitcoin, conversations like this between @ZackPolanski and @RichardJMurphy on money creation and MMT can be a tough listen. BUT, even if most of what is said here comes to the wrong conclusions, it is perhaps a positive step towards Bitcoin that the leader
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I like how we’re normalising an inflation number which is stubbornly 100% higher than it should be
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There we have it. The best paid 0.1% pay more income tax than the poorest 50% of earners. So the perceived unfairness in the tax system that @ZackPolanski and @garyseconomics have weaponized is to do with the lighter taxes on *assets* which naturally increase in value the
Does the UK's best-paid 0.1% really pay more income tax than the entire bottom 50%? I've been (rightly) asked for proof, as this figure is not normally published. Here is the HMRC's Freedom of Information response, and the full story:- https://t.co/CJI4RoNgvF
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One company, Amazon, is down so the Internet is down. This illustrates the importance of decentralization, whether you’re talking about internet apps or money, it’s crucial.
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Moronic MMT in the ruling party. Sigh. If we can "just print money" to solve all our problems Clive then why isn't every country rich? Why didn't Zimbabwe, Venezuela, Argentina etc just print lots of money and be rich?
“How long can governments live beyond their means?” asks @TheEconomist. The answer is simple: a govt that issues its own currency can’t “live beyond its means”. It creates the means. The real limits are our resources, not the Treasury’s spreadsheet. This old household analogy,
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“Bitcoin stuff” 🤦🏻♂️ The damage crypto has done to Bitcoin is unlike anything else I can think of between two closely related technologies. Any old folks remember email being written off as spam? Reveling in not understanding Bitcoin, while at the same time using it as a
“The same lack of transparency, the same Bitcoin stuff, the same conflicts of interest, the same disregard for what is actually true.” Prepare for Nigel Farage and his “Trumpery” in government, Private Eye editor Ian Hislop tells #TimesRadio. @HelenLewis | @DarrylMorris
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Countries using their own currencies obviously cannot run out of them, but they can print so much of them that they become functionally worthless. This is my main bone of contention with MMT. Fiat money is easy to create; whereas creating actual value is hard.
"Leaders | Everyone is Argentina" The Economist has downgraded Milei's Argentine from role model to basket case. Their conclusion is false, though. Countries using their own currencies cannot run out of it, so "everyone" in the rich world is not Argentina.
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Construction inflation made building a home 21% more expensive between 2021 and 2023. Higher interest rates makes borrowing money more expensive, requiring a greater return. But these are national problems, and London starts are down much more than across England.
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Straight up admission here that the UK was practicing the "Human Quantitative Easing" that we were talking about 4-5 years ago.
This is really something. Boris basically saying the treasury pushed for what has become known as the ‘Boriswave’ because of inflationary wage pressures. In other words, net migration of 900k in one year to stop wage growth.
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The first physical copies of Bitcoin is for Everyone have arrived! Can’t wait to share this book with all of you. It’s available for pre-order now and the official release date is November 18th! ⚡️ Order: https://t.co/qMXHGHhWlM
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In the post-GFC period, QE and migration were the main macro tools used by policymakers. QE pushed up asset prices, making many households feel wealthier than they actually were. They took on more credit and consumed beyond their means, even as real wage growth stayed flat. Asset
This is really something. Boris basically saying the treasury pushed for what has become known as the ‘Boriswave’ because of inflationary wage pressures. In other words, net migration of 900k in one year to stop wage growth.
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