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Category Archives: crypto
WCW 7: Dartmouth college, Golden Goof Peter Schiff, and some pro wrestling
Peter’s been on an anti-Bitcoin tirade. Peter was very excited about Gold’s rise to 1.8k per ounce. But 50 US dollars in 1960 has the same buying power as 475 US in 2021. Which means the value of gold has depreciated since 1960.
BTC, and blockchain technology was created in 2009. It went from the current value of Shiba Inu to an all-time high of 69,000 to 43,000. Now for the people home that need some help getting it. That’s an exceptional return on investment.
Gold is a decent store of value but it has no utility as a currency. Bitcoin on the other hand can operate as both. I can carry 1,000 Bitcoin on my phone or nano ledger while walking around. Nobody will know.
If I try to carry a significant amount of gold while walking through town. I’ll be slowed down, and probably robbed. Gold fell out of favor because it’s not easy to transport.
Now Peter is financially invested in the precious metals industry. So, I understand his preference. But the man is clearly dishonest, and arguing in bad faith.
This next bit I thought of at work. So, I’ll have to piece it back together a bit. The restaurant business is very taxing on the mind.
Ivy league graduate Curtis Yarvin aka Moldbug should actually be considered a prophet. His ideals are slowly coming to fruition. Although he wasn’t the first to predict what’s coming. Science fiction authors, and game developers said it first.
Opposition to Bitcoin, and cryptocurrency in general is routed in the realization that they are obsolete. Traditional finance bros are doing everything they can to stop it. Even resorting to using the federal government as a tool.
The styles of governance that developed out of enlightenment ideology, and Westphalian sovereignty are in trouble. The rise of cryptocurrency, corporations, and NGOs has changed the paradigm.
Regular democratic governance structures has been reduced to a tool. We’re reverting back to a pre-enlightenment order with futuristic characteristics. Sovereign corporations, merchant republics, and kingdoms are the future.
People like Elon Musk, and Mohammed Bin Salman are genuine elites. Elon Musk & Jeffrey Bezos would have been sitting in the East India Trading Company headquarters discussing potential trades. Amazon definitely looks like it’ll be the next East India Trading Company.
Western neo-liberalism lacked an answer to soft populism, and now they’re larping as East Germany. They seem to not care about answering the old order 2.0 question. Because returning to it benefits them.
The old order gives the wealthy, and the noble permission to be who they are. This is why Curtis Yarvin, and Robert Filmer should be studied. Because that’s where Western civilization is going.
Peter Schiff’s anti-Bitcoin tirade, and tweeting at El Salvadoran President Nayib Bukele reeks of insecurity. He’s upset that crypto is getting more investment than precious metals. He’s losing money.
Nayib Bukele implicitly understands that the old order is coming back. That’s why he chose Bitcoin as a currency, and Algorand Foundation’s ecosystem to get it done.
I’m not invested in Bitcoin but it’s the Father of the crypto. Algorand, Cardano, Polkadot, and Avalanche are more my style. The cryptos I prefer wouldn’t be here without it.
Dartmouth college had a lecture on what Capitalism needed. I’m going to talk about what I think capitalism needs. Before I actually watch the lecture itself. The lecture itself
We need a retro-futurist approach to the economy. Look at what worked in the past, and look at the future. Keynesianism is economic cocaine. Feels great when you’re on it but the crash isn’t a good experience.
Mercantilism, and the American School aka the National System worked. The currency retained it’s value, and you could live a decent life. Socialism with Chinese Characteristics is working for the People’s Republic. Lee Kuan Yew’s vision transformed Singapore into an economic powerhouse.
The philosophy behind cryptocurrency, and it’s technology must be embraced. It can help stabilize capitalism. Chaotic business cycles aren’t good. Keynesianism, and pure laissez faire couldn’t solve the problem.
New technology, and good Ideas are needed.
We also need to consider automation to reduce the need for economic migration. Automation will reduce the labor supply. A smaller labor pool makes the value of an individual worker go up.
A worker that feels more valuable is a happy worker. Happy workers are more productive than sad workers. Universal basic income also needs to be implemented. So, that we are free to pursue our true path. If we choose to do so.
It’ll also help displaced people support themselves while retraining for a new career.
I’ve given thoughts on how to improve Venezuela, and Communist Party USA . These could be applied to Western capitalism too. Because essentially what I’m doing is combining communism & capitalism. There’s also some unique ideas that haven’t been explored too much.
Now I’ll listen, and react to the lecture.
The professor is explaining what Capitalism is, and what’s needed for it to work. John Campbell believes current economic experts need to look to the past. That’s something we agree on.
The presence of upward mobility or the perception of it is something Adam Smith felt was important. I feel like equality is going to be the primary focus of this lecture. He’s praising the Nordic countries. Very typical of left leaning academics. Praising successful models in tightly knit small countries, and wishing to apply it to an empire.
The USA was an empire in the traditional sense, and is now an empire in an economic sense. But with some leftover elements from it’s past. Manifest destiny, and all that.
He brings up anti-immigrant sentiment, and right wing nationalism. Notice that he differentiates between left wing, and right wing nationalism. That’s an interesting detail although probably not intended the way I’d like. Social cohesion is very important for any community. Especially a large capitalist society like the United States.
Most forms of economic migration are unnecessary, and can be considered a type of indentured servitude. Because we’re exploiting people that are trying to improve their own lives, and send money back to the motherland. Of course, their presence is going to anger the host population.
You’ve got to take in-group versus out-group bias into consideration. This is a naturally developed part of the human mindset. People are going to be more comfortable with familiar faces. If unfamiliar faces are taking jobs or something. It’ll trigger a reactionary response from the host population.
The solution is automation because it’ll reduce economic migration down to a optimal number. The only form of economic migration that will remain will be high skilled migration. Higher achieving folks tend to be less prone to populism. A highly meritocratic environment suits them.
But humans are a fairly communal species with elements of individualism splashed in the mix. With automation also comes universal basic income. As you can see there are some reoccurring themes in this blog post.
The actual lecture itself is only twenty five minutes long. He talks about the pandemic’s effects a little bit, and then answers questions.
Pro Wrestling NOAH: YO HEY vs Tadasuke
Great fast paced competition as always. Corgan’s NWA should sign a cross-promotional deal with Pro Wrestling NOAH. YO-HEY should compete for the junior heavyweight championship. Tadasuke has a good bit of momentum. But he couldn’t keep YO-HEY down for long. Some high risk offense, and the beginning of a twenty count. YO-HEY is in control.
Tadasuke found a second wind, and practically took his head off. Tadasuke is the winner. This is the second YO-HEY match that I’ve covered. He’s lost both. What’s up with that, Bro? You’re better than this.
WCW 6: Demonaltry, Depopulation, WV CPUSA, and Pro Wrestling NOAH! Also some plans for my crypto portfolio
Everyone seems to be concerned about depopulation. Elon Musk, Pope Francis, and Todd the Starbucks sipping reporter guy. Plenty of concern. But this is actually a good thing as long as we have the right mentality.
The easy fix is making movement, and immigration easier. But there’s always a domestic reactionary response. Which means you need to do something else.
Western countries have enough men. We don’t need more men. The men we have are more than enough. But we need a yearly immigration cap for both genders.
100k men who qualify for the H1B visa. Before getting a job in the field that they are qualified for. These men must complete 2 weeks of basic training, and spend 6 months patrolling the Southern border. Sending unauthorized visitors back home, and arresting cartel drug smugglers. Once they’ve completed this, they can apply at SpaceX or something. Men who don’t qualify for the H1B will not be considered.
The yearly immigration cap for women will be 800,000. The immigration offices will help them with housing, and employment. Free English lessons will be given if need be. The ladies will have to cook at the soup kitchen for at least four weeks. As a form of community service. A $500 gift card for Walmart, and $200 UBER gift card will be given to the ladies after completing soup kitchen duty.
Investing in automation, and implementing automation will reduce the need for low skill immigration. Some Westerners will be unemployed because of this. But if we implement universal basic income. It’ll be fine because they’ll have a safety net. They’ll be free to retrain themselves for a new career or business of their own. While that monthly payment of 1,500 is always there.
I personally don’t consider the depopulation issue to be an issue. This great die off will mean cost of living will go down. But we do need to encourage reproduction at some point. My approach is better in my opinion.
Another great thing about universal basic income is that it gives women a choice. They can take a break from working to stay at home until the children are old enough. If that’s something women want to do. The stress about what to do after the baby is born will decrease. This probably would help increase the birthrate slightly.
Look into some of the policies I suggested for the CPUSA. Especially the tower town, and forest preserve part. It’d allow the population to grow without destroying the home of local wildlife.
WV CPUSA’s solution to the opioid epidemic, and more.
The West Virginia CPUSA outlined a very nice solution to the problem. I could be wrong but I don’t see many political groups actually addressing it. But I would do something a little more bold.
The corporations will be given a 3 strike rule. The first strike involves the government owning 25% of the company, and stiff financial penalties. The second strike involves stiff financial penalties, jail time, and all executives must sell their shares of the company stock. The third strike is the revocation of the corporate charter.
This corporation ceases to exist all intellectual property, and other assets will be sold at an auction. Corporate businessmen are an entirely different breed of capitalist. Since they have no ties to most of the communities they deal with. The incentive to do right by them is decreased.
This would be the way to keep them in line. They’re not like Joe that runs the sandwich shop, and fundraises for the kid’s baseball program. These people don’t see people as people just numbers.
Demonaltry by S. Connolly thoughts thus far:
It’s a very easy, and beginner friendly read. An Amazon customer actually posted a negative review because of that. Which is quite silly because it advertises itself as such.
I’m not new to polytheism but infernal worship is definitely something fresh. Well, relatively speaking. I was a Laveyan Satanist in my early teens. When I was obsessed with Rob Zombie & Marilyn Manson. But my interpretation of it was still very theistic.
Now that I’m in my mid twenties. It seems that chthonic & infernal aspects of spirituality are very attractive to me.
I’m under 100 pages in, and it’s a more in-depth version of what the Tiktok occultists give out for free. I’d definitely recommend checking it out. Even if demons are too spooky for you.
Demonaltry is a polytheistic, and syncretic path. It’s heavily influenced by the works of Richard Dukante. Demonaltry believes that most demons are demonized pre-christian divinities.
It’s great that Pro Wrestling NOAH is posting free matches with English commentary. But I feel like they could do something similar to AEW Dark in order to attract international fans. Get them watching Pro Wrestling NOAH every week on YouTube, and watching the big shows on Wrestle Universe. This would have a snowball effect because fans would check out TJPW or DDT as well. CMLL, IWRG, MLW, and NWA also post events on YouTube. There’s nothing wrong with it.
Now let’s focus on the wrestling!
I have to say that I love the commentary. They’re treating it like a sport instead of soap opera. Giving the wrestlers, and the match the respect they deserve.
The former friends Hayata & YO-HEY are in a technical wrestling competition. Both of trying to get the best of the other. The speed & acrobatics is starting to pick up now.
Hayata retains.
The final 6 minutes were absolutely outstanding. Impossible to tell what the end result would be. It’s matches like this that keep people watching.
My 2022 crypto portfolio plans:
Algorand, USDC, Cardano, Avalanche will be the primary four that I acquire this year. I hold a decent amount of Shiba Inu. But I have no desire to purchase more at this time.
The thing I like about Shiba Inu is that it feels like Dogecoin before Elon Musk got into it. Just a fun meme coin to play around with.
I’m also considering buying Polkadot, and Solana. Definitely not buying any Bitcoin. Sorry, Max Keiser. I like cryptos that are fast, and innovative.
Wrestling Coverage Whatever #4: Algo Drone Racing, NWA on YouTube, Occultism, Decolonization, and Lucha Libre!
Algorand Drone Racing & Algorand & El Salvador
NWA‘s return to YouTube, and the first episode I’ve watched since #13? NWA USA debuts tomorrow. It’s currently Friday although this might not get published until Saturday.
The beautiful May Valentine is joined Mims to start off the show. Expressing his disdain for Mike Knox, and Matt Cardona. Who’ve been disrespecting the NWA. Decent storytelling promo there.
The rude dudes are succeeding at being annoying dudes. Sam Adonis & Jamie Stanley love to talk. But can Jamie Stanley back it up in singles competition? He’s facing 3 other men to advance in the junior heavyweight tournament. JP, Miguel, and Alex Taylor. Because of some tactical cowardice the winner is Jamie Stanley. Good basic heel behavior.
Aron Stevens is being interviewed, and he’s still a great character. He’s currently getting interrupted by the duo “Dirty Sexy Boys” . Aron & Kratos exit while the dirty sexy boys share a banana.
Cyon got tricked into a handicap match by Austin Idol & crew. His opponents are Jordan Clearwater & Marshe Rockett. If he wins, Cyon will get another match with Tyrus. Idolmania sports management struggled but they managed to beat Cyon. No rematch for him.
It’s a good show so far, but Corgan’s NWA won’t truly be the NWA. Until the territories are revived it’s NWA lite. There’s existing promotions that could be annexed. OVW, AMW, Luke Hawx’s Wildkat Sports, and ECWA. Luke is currently wrestling for the NWA. Could be an easy deal to work out. They could also form two brand new territories. NWA EAST & NWA WEST.
I’ve always liked Kamille as a wrestler but her promos weren’t good for a bit. She’s improved a lot. She’s talking about how tag team wrestling is beneath her, and Corgan is making her do it. Her reluctant partner is Missa Kate. Who expressed interest in facing Kamille, and knocking out Kylie Rae’s teeth. They’re facing Kylie Rae & Tootsie Lynn.
Missa Kate tapped out.
May Valentine talked to Nick Aldis & Mickie James. Mickie James talked about why she’s teamed up with Kiera Hogan, and the NWA women’s championship. Nick Aldis announced that he wants to find the next big star to represent NWA-USA. Which debuts on YouTube around noon Eastern USA time.
After an interesting exchange between Colby Corino, the fixers, and OGK. Matt Taven is facing Wrecking ball Legursky in the ring. After an intense struggle, and a sneaky powerbomb the winner is Matt Taven. Anything could’ve happened while he was dazed sitting on the top ropes.
May is interviewing Jennacide. Cool name, and face paint. She’s mad at Paola, and doesn’t think she can handle her opponent. We’ll come back to this later.
Now we see Matt & Mike at the interview desk. He’s just spending the entire time bashing NWA & Trevor Murdoch. Saying it’s not relevant, and he’s actually right to some extent. It does need saving but not by someone like him.
Natalia Markova vs Paola Blaze is next.
Natalia Markova is absolutely dominating Paola right now. Looks like Jennacide was right. That was an easy win for Natalia. Just playing with her food like a lioness.
La Rebelión & Homicide vs The End & Jax Dane in the main event. The NWA tag champs are La Rebelión. I guess Corgan’s taking an interest in trios. That just means he needs to make some international phone calls to Japan & Mexico.
That was an excellent fast paced main event. I’m not going to spoil it. Hopefully, I’ve done a good job promoting the NWA. Watch the episode on YouTube. It’s worth an hour of your time.
NWA-USA debuts very soon!
Reyna ISIS & Mitzy vs Cassandra & Batichica
This wrestling match will wrap up the wrestling portion of the article!
It’s a great match that traditional Tennessee wrestling enthusiasts would struggle to follow. The Jim Cornette’s & Adam Rotella’s that can’t handle the flippy shit. Reyna ISIS is doing great here. One of the things I like about the Lucha Libre world is how you can getaway with certain gimmicks.
Batichica is literally just wrestling in a batwoman outfit. Chessman’s aesthetic is very similar to Sting. Very open to borrowing ideas. I’m very happy with how this match ended. Reyna ISIS & Mitzy won.
I was very amused by this tweet by Tiktok’s number 1 Thelema advocate.
She’s exactly right here. The ascension into the next dimension folks are just rebranded evangelical christians. The rapture concept already exists. There’s so many of these starseed, and high-low vibration types online these days. It’s very easy to get into because it doesn’t require a lot. Kind of like evangelical Christianity.
My personal preference is to see Rokkatru, Thelema, Demonaltry, and Hellenism grow. We don’t need rebranded evangelicalism. There’s better options out there.
Anarchist Keith Preston on Class & Caste
He made a pretty accurate comparison. The thing I’d point out is American Brahmins play both sides. They’re making the lower castes fight each other in order to maintain their control.
Alright, it’s Algorand time!
Algorand was the unsung hero of El Salvador’s cryptocurrency adoption. Bitcoin is being used as currency but they’re using Algorand’s technology. I’ve suggested something like this in previous articles. Bitcoin has great value but it’s inferior technologically.
Also if you’re looking to earn money playing games. The Drone Racing League is teaming up with Algorand to do just that. There’s so many play to earn games coming out. I’m hoping to see ALGO receive the Solana pump. Especially because I’m staking it, and earning rewards.
It’s time for the hot topic of the day: Decolonization
You may have heard of people like Modern Warrior on Tiktok. He loves to say “Hey Colonizer” but colonizer isn’t a good insult. It’s just an admission that your ancestors lost. You’re making them look bad by using it.
The modern concepts of anti-imperialism, and anti-colonialism comes from the group that did the oppression. Even the philosophy behind deconstructing whiteness still comes from White people. How are you going to reconnect with your roots, and oppose your historical oppressor while using their ideas?
You simply cannot do it. It’s a trap that you’ll always be stuck in. Because you’re stuck in a Western White mindset. White, Black, and Brown are dangerous social constructs. The erasure of unique cultures is the primary tool of imperialism.
Romans, Greeks, Americans, and more. Every imperial society going back to mesopotamia has pushed for cultural homogenization. You’re not actually fighting the system. By engaging in this sort of intellectual exercise, and activism. You’re keeping the neo-liberal Western machine going.
You can’t combat imperialism with the ideals of the imperialists. Return to the traditions of your ancestors. That’s how you do it!
Europe, Mesoamerica, West Africa, and so on. Look into where you came from. Become more in touch with that culture, and it’s traditional religions. Monotheism is imperial in nature too by the way. I discuss that here.
Actor Freddie Prinze JR wants to start a wrestling company. I’m Northeast & East Coast until the day I die. Nothing will convince me to be in Yellowstone’s red zone. Plus it’s just too hot for me. But I’d love to contribute creatively in some way.
Don’t say it won’t make money. You have to believe in it. Even if you just want to be a weekend Indy promoter. This is your kid essentially.
I did do some fantasy booking on this blog awhile ago. From August to October I think.
The new approach to my blog was inspired by Jim Cornette’s podcasts. The experience & the drive thru. He’s got an excellent format for discussion.
Wrestling Coverage Whatever #3: Galli Lucha Libre, Crypto staking, and Marxism
The Marxism piece that I’m reacting to, and The wrestling match I am covering.
Breadtube, and the DSA absolutely are controlled opposition group. The Chapo Trap House guys made significant amounts of cash promoting a “cool leftism” to the masses. All of them treat it like a commodity.
They don’t want a harder brand of leftism. All they want to do is be a faction within the Democratic Party. It’s not really about learning theory or pushing for actual change.
The CPUSA, American Party Of Labor, and Workers World Party aren’t properly equipped to do anything. I constructed a very solid platform to follow in the 2020s & 2030s. After hearing about the CPUSA’s desire to get involved in politics again.
The current platforms of these parties don’t have any futuristic capabilities, and cater to the metropolitan hipster. This is holding leftism back significantly.
Also what I suggested for Venezuela should also be done in the United States.
Ok moving on to topic number 2.
The intelligent move for the average person in this questionable economy. Is to get involved with crypto staking, and stablecoins. Cryptos like Dai, USDC, and Algorand are excellent choices. If you don’t have some assets right now. You’re more foolish than someone that buys an NFT from a random Instagram user.
Inflation is a tax on the poor, and existence. Don’t let yourself be caught in the trap. Crypto, silver, trading cards, comics, and Jordans are great assets to have.
Time for the match!
Atomico JR versus Mr. Iguana
It’s a little slower paced but there’s been a decent exchange so far. It’s not one sided but my guess is that Atomico JR retains. Atomico JR delivered a chain of suplexes to Mr. Iguana. A little suplex city action in Melrose park. Mr. Iguana actually took control. Will Atomico JR still leave with his championship? A toy iguana had Atomico JR down for a count of 2.
Funny move by Mr. Iguana.
Great ending to the match I won’t spoil how it happens. But Atomico JR does leave with his championship. As I expected he would.
Also with NWA programming returning to YouTube very soon. I’ll be covering that in every Wrestling Coverage Whatever. Hopefully, they’ll revive some wrestling territories.
Wrestling Coverage Whatever 2: ROH, Taipei Death, and Shiba Inu
ROH free agents & where they should go.
AEW: Jonathan Gresham, Silas Young, Shane Taylor, and Beer City Bruiser
NWA & GCW: Josh Woods, and Danhausen.
Impact: Mike Bennett, Rhett Titus, and Brian Milonas
I feel like Jonathan, and Shane would fit in pretty well over there. Silas Young & BCB would be the perfect midcard heel tag team. If you remember the Silas vs Dalton feud. He’d have so many options there.
They could also quote things Jim Cornette has said about modern wrestling, and wrestlers for extra heat. It’d be great for fan interaction.
Josh’s style is perfect for NWA wrestling, and GCW bloodsport competitions. Great pure shoot wrestling from him. NWA needs Danhausen because his persona will get people tuning in. He’s been a fan favorite for awhile. GCW would be another great place for Danhausen. Plenty of creative freedom there.
I’m not familiar with Brian Milonas. But I do know who Mike Bennett & Rhett Titus are. Impact Wrestling is gets too much hate, and not enough credit. It’s a great place for a fresh start.
Looks like Shib informer was thinking about Venezuela too.
Here’s what I thought Venezuela should do
The Shiba Inu community should convince GCW, United Wrestling Network, and Pro Wrestling Tees to accept the crypto. The more adoption we get the better. Personally I think getting Coinbase & Gemini to allow a 2-4% APY would be great.
Josh Crane vs Eric Dillinger for AWR revolutionary championship is our featured match. Last week it was a triple threat from AULL in Mexico. Taipei deathmatches is where broken glass is taped to the fighters hands. It’s a very simple stipulation but in my opinion it’s one of the more brutal ones.
While it’s not as graphic it has to really mess with them psychologically during the fight. Here’s the match. Taipei deathmatches vary in intensity, and some could potentially be aired on AMC or Adult Swim around 11pm.
Eric & Josh are drenched in blood at this point. Eric a little more so though. The actual wrestling aspect of the match is pretty solid. The commentary team should follow a less is more approach. Because they’re obnoxious, and make Michael Cole tolerable. Eric Dillinger won the championship with a frog splash.
It was a good deathmatch but the obnoxious commentary made it less enjoyable. I’ll give it a 5 out of 10. Could’ve been higher without commentary honestly.
Also IWTV is a wrestling on-demand service that could be convinced to accept Shiba Inu. In my How to save Impact Wrestling article, I suggested accepting Solana. The wrestling industry hasn’t really been touched by cryptocurrency yet.
This could be the next big money trend.
What would you do with the Venezuelan economy? (redcultofnyx.com)
Venezuela is an oil rich country, and El Salvador recently switched to crypto. The move for the developing world is to embrace crypto. Moldova, Malawi, and basically any other nation trying to make it.
Venezuela is going to have to sell some of it’s oil for US or Canadian dollars. Possibly the Euro or Mexican Peso. It really depends on who the Venezuelan government wants to do business with.
I’ll use a small number as an example. For what I’d have them purchase with the foreign currency. It’s going to be 1 million just to make it simple.
1. 250k in silver
2. 150k in gold
3. 200k in Ethereum
4. 400k in Bitcoin
Now that we have both physical & digital stores of value. The Venezuelan economy has something that’ll keep it afloat. These assets are more likely to hold value compared to banknotes.
The next step would be to get into contact with various organizations within the cryptocurrency industry. Like Solana, Polkadot, Stellar, and Algorand that can offer innovative technology.
Developing a relationship with exchanges like Coinbase, Gemini, and Kucoin would be important too. Venezuelan companies could create their own tokens, and put them on exchanges. As an alternative to Wall Street.
Finally do what I suggested in this post addressing the CPUSA
Redcultofnyx.com
Bitcoin & it’s value
Cornell Professor claims BTC has no value
You can go to 3 very good schools, and then work for another good school. But still make an asinine statement to the press in order to confirm bias. It’s asinine because it’s flawed & unoriginal.
I’m not a Bitcoin bro by any means. I prefer cryptos like Ethereum, Solana, Polkadot, and Algorand. But like many people in crypto I still hold BTC.
“Bitcoin’s use of the blockchain technology is not very efficient.” – Professor Prasad
Thank you, Sherlock Holmes for this fascinating discovery. We truly wouldn’t have realized without you. Bitcoin was founded 12 years ago, and was designed with a specific purpose in mind. To act as a store of value similar to gold & silver. This was the primary thing that attracted early adopters. An alternative to inflationary currencies like the Dollar or Yuan.
“I don’t think it’s going to have any fundamental value other than whatever investor’s faith leads it to have,” – Professor Prasad
It’s fundamental value is based in it’s scarcity, and greater stability. Whereas currencies like the Dollar that are backed by faith drop in value. 50 dollars in 1960 had the same purchasing power as 464 dollars in 2021. With all of Bitcoin’s flaws, it’d be better to question the fiat system.
All of Professor Prasad’s concerns have already been said by people within the cryptocurrency community. It’s also been addressed by the crypto community in a way. It’s a reserve currency in the way the dollar wishes it was.
As far as things like environmental concerns, efficiency, and so on. These are definitely legitimate concerns. The onus is mainly on the miners to find a more eco-friendly way to do it. But Bitcoin isn’t going anywhere.
Algorand is an excellent currency to look into. The team behind it has done a great job addressing BTC & ETH related concerns. Solana, and Polkadot are also very good choices.
Early Austrian school economists Carl Menger, and Eugen Ritter von Böhm-Bawerk had this wonderful theory. It’s called the subjective theory of value. Which means that something is given value, if someone perceives it to have value.
A lot of things fall into this category. Paper currency, designer clothing, beauty, and so on. But it’s still a valid basis for determining value. However scarcity is a superior standard for very obvious reasons.
If you have 1000 candy bars, and I take one of them. It’s not going to matter too much. But if you only have 1 candy bar. I bet you’re going to care a lot more, if I try to take it from you.
Also if you want to bring up the environment. All that cotton, paper, and linen can’t be good for the environment either. Given how much of it is produced each year. Because that money printer never stops.
Hayek & Mises also had some valid points on artificial money creation. Something our traditional finance bros love doing. Even though it hurts the dollar, and the economy for temporary gains. Keynes is the King of Western Economics because he’s an enabler.
You guys love to gamble.
Mercantilist thinkers would be better for the American economy. Georgists, and syndicalists too. Austrians, Chicagoans, Physiocrats, and so on. Almost anything is better than what we have.
It’s actually Vitalik Buterin, and the Ethereum community that should be concerned. There’s cryptos that do the exact same thing more efficiently. Bitcoin is too big to fail kind of like certain organizations. Except Bitcoin doesn’t need an annual bailout from the government.
Economists like Professor Prasad lack genuine insight on this subject. They only leaver their towers when it suits them. So they can offer outdated opinions to the gullible masses.
Actual experts within the community have said everything that he did. The crypto community is always moving, and innovating. By the time these Ivy League academics acquire current knowledge on crypto. It’ll be exceptionally outdated.
My first year in crypto
I managed to learn quite a bit with my miniscule day trades in my first year in crypto. Managed to earn around 300 dollars. But I was being too reckless, and impulsive.
I’ll be doing a more conservative strategy going forward. My investments going forward will be in cryptos that can generate passive income. Less stress, and more money is ideal.
1. Algorand
2. Bancor Network
These two will be my primary investments.
Upstate NY: Bitcoin Valley
Both Northwestern, and Northeastern New York have been fading away for a long time. Due to the death of American Manufacturing. So, I certainly welcome the arrival of new industry. The article.
But I do have some things for crypto companies to consider. I will also say this “DO NOT COME HERE, If this is solely for profit”. If you’re coming here to do business with us. You need to invest into these communities.
Northern New York is often compared to Alabama, and West Virginia. By people from places like NYC, and LA. This is a poor, and broken down area. Selfish businessmen, and tax happy politicians from the NYC area tore the place up.
So, you can’t just treat this like a normal business venture. It’s something far more important than that. It’s an opportunity to give back, and as well as prove crypto skeptics wrong. People with degrees, and skills typically leave.
The environmental concerns are valid, and you need to find a way to address it. But a bigger concern is cost of living, and quality of life. Your arrival is going to encourage people to move here. They’re going to buy the houses that young local families have saved up for. Apartments will disappear as fast as possible, and rents will go up.
Displacement, and gentrification is not good for your reputation. Traditional finance already wants crypto wiped off the map. Don’t give them another reason to do it. They couldn’t care about Northern New York, If they tried. But they’ll pretend to care the minute you screw up.
I’ve said previously that the crypto community needs political clout desperately. You NEED political influence. Especially if you intend to do business in New York state.
Nature, and horse racing are the big money makers up here. The locals also happen to be very attached to those mountains, and rivers. So be careful!
Here are some moves that I’d recommend in terms of boosting support for the NY crypto industry.
1. Get Stewart’s to accept Bitcoin, Litecoin, Ethereum, and Solana.
This convenience store chain is kind of a big deal here. Kind of like Dunkin’ to a Massachusetts resident. People really love their ice cream.
2. Develop a relationship with the wild center, Adirondack Park, and local businesses.
Developing a sincere relationship with organizations committed to the environment is key. Also encouraging local businesses to accept crypto increases adoption. More users means more money. But don’t lose sight of what’s important here.
You need to win the hearts, and minds of a region that’s been abandoned. Do it correctly, and they’ll become loyal in the long run. Loyalty means return customers.
3. Invest in real estate significantly but don’t hurt the environment while doing it.
A greater supply of apartments will make rent drop to a reasonable price. In my Communist Party USA article, I had this idea called “Tower Towns” but you’ll obviously have to downsize it a bit. But it’s basically skyscrapers that are primarily residential. This concept could revolutionize real estate, and put an end to rent related stress.
It’d leave plenty of room for trees, and bees.
4. Saratoga Springs
This is a money town, and you need it’s support. Saratoga Casino, SPAC, Saratoga Race Course, Adelphi Hotel, and so on. This is the town of the fat cats. If you get Saratoga Springs on your side. It’s only a matter of time before you take the rest of New York.
I want to be apart of it🎶…
Baron thoughts 