because of the different degrees of excellence of their efforts, merchants and peasants earn different amounts and, as a result, some live magnificently while others live parsimoniously.<\/p>\n\n\n\n
1000 pounds of bread, 1000s of pounds of beef?<\/p>\n\n\n\n
Notes<\/p>\n\n\n\n
\u00ef\u00bf\u00bcthis system obviously requires that the warehouse have no greater debt, in bills, than the quantity of goods it actually contains<\/p>\n\n\n\n
There needs to be some sort of pegging of notes to actually things in the storehouse?<\/p>\n\n\n\n
Possibility of fraudulent notes? The good thing with bitcoin, you cannot make a fraudulent bitcoin?<\/p>\n\n\n\n
Who will watch the watchmen? Juvenal.<\/p>\n\n\n\n
True credit, truth in credit? \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc<\/p>\n\n\n\n
Only poor people go to work<\/p>\n\n\n\n
True abundance vs fraud? \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc<\/p>\n\n\n\n
..<\/p>\n\n\n\n
What are the true necessities of life?<\/p>\n\n\n\n
Imaginary money?<\/p>\n\n\n\n
Maybe we should peg bitcoin to some real asset like oil?<\/p>\n\n\n\n
Bitcoin has been around since 2009, it is 2024 now. \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc13 years? Therefore a very high likelihood that it will be around for at least another 13 years.<\/p>\n\n\n\n
The Lindy effect via NASSIM TALEB —<\/p>\n\n\n\n
\nin the next 13 years, will the price of bitcoin be up or down?\u00ef\u00bf\u00bc<\/p>\n<\/blockquote>\n\n\n\n
Probably up.<\/p>\n\n\n\n
.
.<\/p>\n\n\n\nPrice is a ratio \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc<\/p>\n\n\n\n
Money is Man<\/p>\n\n\n\n
The truth is, then, that since their principal merchandise is slaves, their money is man.<\/p>\n\n\n\n
The most constant value is that of man<\/p>\n\n\n\n
Tampered with \u00e2\u20ac\u00a6 tamper proof?<\/p>\n\n\n\n
—<\/p>\n\n\n\n
Leases, and ground rents?<\/p>\n\n\n\n
The science of money?<\/p>\n\n\n\n
The damage of augmentation of money<\/p>\n\n\n\n
\n\n\n\nthinking ducats?<\/h2>\n\n\n\n
\n\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bcThis calls to mind a man who once had to pay 100 ducats for something he desired and was later required to pay 200 half-ducats for the same thing. Thisdistressedhim,becausewhereasfirsthe heard the sound of the number 100 he now heard the other, to him more frightening, 200. But it is evident that when one buys dear be also sells dear. Therefore, to mourn the fact that prices have risen is also to
mourn the fact that things are selling at a better price.<\/p>\n<\/blockquote>\n\n\n\nThings are actually more expensive in a prosperous state?<\/h2>\n\n\n\n
\u00ef\u00bf\u00bcSuperfluous and sxnaptuous expenditures are
the faithful companions of peace and of a prosperous state; rising prices of things are an infallible sign that a nation is flourishing. And this was all due to the wisdom of a most virtuous king.<\/p>\n\n\n\nSestereces<\/p>\n\n\n\n
Rome used sesterzi, the smallest coin, as money of account and this was never changed. But after she rose to such power and wealth that one heard everywhere of thousands of sestefzi, the word thousand became mute and, at once, the greatest money of account that was everusedanywherewasfoundinuse. Thiscoincorres\u00c2\u00ad ponded almost to twenty-five of our ducats.<\/p>\n\n\n\n
Opulence and industry<\/h2>\n\n\n\n
\u00ef\u00bf\u00bcwhat should be called opulence, tameness, industry are criticized as luxury, lassitude, or ignoble arts.<\/p>\n\n\n\n
\u00e2\u20ac\u00a6<\/p>\n\n\n\n
Man is an insatiable animal<\/p>\n\n\n\n
Man always complains and is fastidious<\/p>\n\n\n\n
Whatever his state, he is always discontented ***<\/p>\n\n\n\n
\nHow about myself, I am very content?<\/p>\n<\/blockquote>\n\n\n\n
ignore what people say, heed what they actually do and where they go<\/h2>\n\n\n\n
\n\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bcFor.example,inorderto determine the best country in.which to reside”at any \u00e2\u20ac\u00a2 given time, one shoiild not listen at $11 to what anyone says, but should observe where men go, leaving their homeland behind, to establish themselves and raise their’ progeny.<\/p>\n<\/blockquote>\n\n\n\n
\u00e2\u20ac\u00a6<\/p>\n\n\n\n
Be, become a creditor, not a Debitor.<\/p>\n\n\n\n
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