It was not. I'm a real person, and I'm genuinely willing to concede that I was sloppy in my choice of words. But I'm not sure how I can prove it to you.
Correction: China has never banned any US social network. That said social network decided not to comply with local laws is their decision. Even Tiktok does not work in China
This website is produced by think-tank members who have an angle that the UK is in decline and needs to take specific (neoliberal lassez-faire) economic policy steps to regain its position in the world ie its a piece of political astroturf disguised as historical analysis. The same crowd also produced ukfoundations.co which is a similar sort of thing. For some reason people post their stuff on here from time to time.
Yeah... African users... oh poor infantile, gullible, creatures... so incapable of discerning truth from falsehood are the ones to be fooled by generative AI...I get the gist
I think we're talking about culturally Western here, not geopolitically Western. I can't see even a (sane) cynic call these 3 countries culturally Western unless you think being a liberal democracy automatically makes you culturally Western. And Japan is one of the countries said to have "Westernized"!
For me, I have been using it as a faster substitute for Google+StackOverflow - generating short snippets that I'll still audit anyway. It is just another, better search engine once you are primed to watch out for the pitfalls
> Some things are a little more appealing when you are in a country without a competent Federal Reserve
Why bother with Bitcoin, when you can just use money from a country with a competent Federal Reserve? IIRC many countries have "dollarized" (either de jure or de facto).
maybe because the country with the FED can print new dollars and spend it on stuff they like (infrastructure bill, paying back debt, …) while such dollarized countries, (beside yes the short term stable currency) just see medium-long term inflation (without the aforementioned benefit the dollarizing country gets).
Google for: „cantillon effect“ (also accounts for inequalities inside one country like the US)
> Simple: there is no country with a competent Federal Reserve (Central Bank)
Eh, that's pretty obviously untrue under any reasonable definition of "competent Federal Reserve."
Now, there are definitely unreasonable an/or extreme ideological definitions under which you could make such a statement (e.g. the most reasonable of these are monomanically overoptimizing to one metric), but those definitions are irrelevant and can be ignored.
> Eh, that's pretty obviously untrue under any reasonable definition of "competent Federal Reserve"
It's not obvious. Is any central bank that debases currency through money printing without some kind of fixed peg/ratio to a scarce asset competent?
No. This is self-evidently true as, by doing so, they are perniciously taxing the savings of the poor in order to feather the nests of the (asset-)rich.
There is no avoiding the truth of this inviolable fact as Cantillion himself described many years ago.
Bitcoin promotes hoarding no more than gold does. And speculation no more than FX or commodities trading does.
If a payment currency was pegged to bitcoin and the backing ratio remained fixed things would be fine like they were when we had the gold standard or even the later USD reserve currency standard when the USD was backed by gold.
However history had shown that these arrangements did not hold as central bankers simply couldn't resist firing up the printer and breaking the peg with the scarce backing asset. Political pressures, wars, whatever the reason. Every peg was broken.
Human greed, misplaced albeit well-intentioned mistakes, and simple human fallibility will continue to tempt even the most honourable people close to the money spigot. It's happened throughout the ages and human nature will not change in this regard.
Bitcoin _algorithmically_ prevents this debasement and so it is literally the perfect base monetary asset. No one can fuck with it.
No it isn't. For instance, I can see carefully controlled debasing (e.g. inflation) as motivation to put money some use rather than sit on it, for instance.
> Bitcoin promotes hoarding no more than gold does. And speculation no more than FX or commodities trading does.
Maybe gold promotes hoarding too much, as well. When you get down to it, it's also questionable to tie your money supply to the availability of some arbitrarily-chosen commodity. Do you want deflation until someone discovers some big gold deposit, then things swing inflationary? Bitcoin seems even worse since it's designed to be deflationary, since people will irretrievably loose them and at some point no more will be made.
