For a long time Bitcoin transaction fees were high and unpredictable, as Bitcoin runs into its scaling limit of seven transactions per second. This has caused grave damage to the lightning network and to daos. During this time more and more people have moved to layer two solutions, such as Liquid, Lightning, and Liquid Lightning, with the result that the number of transactions has finally fallen back to below the …
Category: economics
Government Healthcare and the deficit
Healthcare in the US is extraordinarily, ludicrously, bad. It is also absurdly, extraordinarily, ludicrously expensive, both for any individual who is not part of an official victim group, and for the government. The government deficit is about two trillion dollars, and is unsustainable. Economic collapse and hyperinflation looms. The cost of healthcare to the government is about equal to the deficit. Comparing US (corrupt civil service and judiciary) health care …
Calling the dip
The bell is ringing. Last time around, I called the 2022 dip slightly too soon when bitcoin was at twenty thousand, then called it again, more firmly and with greater confidence, when it was at sixteen thousand, which was dead on accurate. The current dip is sixty thousand or so. I may have called it a little too late, bitcoin was recently at fifty eight thousand, and is now at …
Bidenomics
According to official statistics, everything is coming up roses. Inflation is way down, unemployment is way down, GDP is way up, and we are doing so much better than under the horrible horrible Trump economy. Looking out the window of the plane from ten thousand feet as it comes in to the airport, you can see that not everything is coming up roses. The Democrats noticed that not everyone seems …
Enormous move in bitcoin coming up
The good news is that in the not very distant future, everyone who matters is going to be using Bitcoin. The bad news is that if they will be using something resembling currently available software, they will still be net peons, not netizens. Probably no dramatic price changes next week. Or next month. Maybe not next year. But we are on a big move up that will likely continue going …
Nazis are commies and commies are nazis
Near as makes no difference. Notice that Russia’s leaders say that Russia’s goals in the Ukraine include de-nazification and/or de-communization, without really making a distinction between de-nazification and de-communization. Nazism was radical leftism in its day, and was perceived as radical leftism in its day. And, predictably, Hitler found himself outflanked on the left within the Nazi party, as Stalin found himself outflanked by Trotsky. So he killed them. Whereupon …
Capitalism
Time to discuss the nature of capitalism, because fake Nazis on Gab are spouting Marxist history, economics, and theory: The Marxist sees bread on the supermarket shelf, and thinks this a manifestation of a central plan. He thinks we already live in a socialist economy, with big capitalists giving marching orders to little capitalists. And that is why they refuse to acknowledge that Musk is the great rocket scientist of …
National Capitalism and Sanctions on Russia
The Global American Empire thought sanctions would ruin Russia. Still think that, though they now think it will take a little longer. Formerly talking weeks, now talking years. The Russian economy has, according to statistics, been knocked down ten or twenty percent. Seeing a Youtuber chatting to Russians on the ground, sounds roughly accurate. The question is, is it, like the ruble, bouncing back, or going over a cliff? The …
Decline in GDP per capita
Your grandfathers could enjoy a house, a garden, children, and stay at home wife looking after the kids. Their grandchildren are dual income no kids, but live in a little box with Ikea furniture Not only did we land on the moon in the 1970s, we had nicer cars, nicer toilets, and better clothes washing machines, though today we have nicer phones and computers. But Americans can no longer make …
Stagflation is here
Walmart reports it is selling less stuff, and is going to have to raise prices further. If it is selling less stuff, everyone is buying less stuff. Meaning everyone is poorer, living standards are falling If everyone is buying less stuff, and yet stuff is still in short supply, then production of value is falling. As has been obvious from holding a finger to the wind for some time, but …