How Bitcoin Memes are Destroying the Legitimacy of the Dollar
Join us today with the MEMTARDS reviewing EPIC memes!!! New article by the Finacial Times released asking to “please stop calling dollars ‘fiat money,’ currencies are not memes that only have value because governments say they do…” Clearly meme warfare is exposing the lie that is fiat and the central bankers don’t like it ! Let’s keep getting under their skin because they’re FREAKING OUT! Good job memetards!
Daily Fail Sources
this is what i keep reading on #bitcoin twitter… please help me find counterarguments on why it isn't just desrcibing a DACM (decentralized autonomous cyber militia):— Jason Lowery (@JasonPLowery) August 17, 2021
These two systems have the same FUNCTION (compete for consensus from network on property's "legitimate" chain of custody), but very different FORM (analog force projection vs digital force projection), thus very different emergent properties (annihilation vs preservation) pic.twitter.com/BwVtLBSxmC— Jason Lowery (@JasonPLowery) August 15, 2021
Bitcoin made the cost of violence asymmetric, this is not the best analogy.— DETERMINISTIC OPTIMISM (@nvk) August 15, 2021
Preservation in bitcoin is mutually assured.
Unlike violence capability posturing, if any entity hints PoW capacity substantially higher than other actors it undermines the system itself
This is wrong. https://t.co/OzFiywTb1V
BTC Daily News Sources
Let’s all please stop calling dollars ‘fiat money’
Sometimes it’s possible to simplify something too much. More than a decade ago Ben Bernanke, then chair of the Federal Reserve’s Board of Governors, sat down for an interview with 60 Minutes, the television show that important Americans call when they have important things to say. https://www.ft.com/content/5e5b2afb-c…
The following content explains the Board’s authority to impose reserve requirements and how reserve requirements were administered prior to the change in reserve requirement ratios to zero. Additional detail on this reserve requirement regime can be found in the archived Reserve Maintenance Manual: HTML | PDF.
The Federal Reserve Act authorizes the Board to establish reserve requirements within specified ranges for purposes of implementing monetary policy on certain types of deposits and other liabilities of depository institutions. https://www.federalreserve.gov/moneta…
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