Bacon Bits (Cryptocurrency and Money)

Three Equals Five

Cryptocurrency is a digital Messiah that will free humanity from all suffering and usher in a global nirvanic state. Or it’s a hyped up widespread fraud luring all into servitude for cyber-spawned overlords. Possibly something else. Mike, Jon, and Tom discuss pork products, bacon as a currency, blockchain basics, compelling oratory, never being a better time to buy gold, Legos and Duplos, the legality of non-government issued currencies, cooperative hog farming in the Appalachian Mountains, Green Stamps, channeling the Akashic records, counterfeiting digital and physical currency, Skynet and self-driving vehicles, minting our own digital money, welcoming our robot overlords, cryptocurrency and Communists not liking it, whether the dollar is a global digital currency, cellphones in the South Sudan, Servitude 2.0, agreed upon value of money versus a value proposition over time, political unrest and general dystopia in Venezuela, the government generating digital currency, repurposing nuclear generators from the aircraft carrier USS Nimitz, myCurrency from Jon, whether cell phone access is sufficient to provide access to a finical institution, the effect of cryptocurrency on freedom and stability and security, resilience of distributed cryptocurrency system relative to natural disasters and military attacks, fractional currency and lending, financial panics and runs on banks, Lard Coin and Bacon Bits, historical average inflation rate and he time value of money, minor monetary inflation is a good thing and deflation is a very bad thing from a macroeconomic basis, finite availability and how cryptocurrencies are generated, Tom’s theory of economics and the conversion of energy sources into endorphins, money is a battery, the dominant energy source utilized in the United States is solar, money is a tool, the United States foundation was built upon the rejection of unfair taxation, government control of cryptocurrency, money as a weapon to destabilize governments, efficiency and effectiveness of government, local versus national government responsiveness, potential cryptocurrency downsides, and we accept donations of fiat currency.
#Cryptocurrency #Blockchain #Communism #Economics #Money #FiatCurrency
Basic Economics: A Citizen's Guide to the Economy
https://youtu.be/OrPxEmOV0YI
https://riosmauricio.com/wp-content/uploads/2020/07/Basic-Economics-5th-Edition-Thomas-Sowell.pdf
History of The Federal Reserve System
https://www.federalreservehistory.org/essays/federal-reserve-history
What is Legal Tender?
https://www.treasury.gov/resource-center/faqs/currency/pages/legal-tender.aspx
Fractional Lending - An Explanation and History
https://corporatefinanceinstitute.com/resources/knowledge/finance/fractional-banking
A History of Legal Tender: Money, Postage Stamps, and Fractional Currency
https://fraser.stlouisfed.org/files/docs/publications/books/1869histlegaltender/historyoflegaltender.pdf
What is Capital?
https://corporatefinanceinstitute.com/resources/knowledge/finance/capital
The Monetary Value of Coupons
https://www.mentalfloss.com/article/26838/why-are-coupons-worth-1100th-cent
What is Fiat Currency?
https://www.investopedia.com/terms/f/fiatmoney.asp

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