https://x.com/Chronotope/status/1828785701732663335

Crypto miners are being paid not to mine to ease energy production/consumption cycles.

Related to protection money for the mob

re: https://x.com/curious_founder/status/1828511303788322888/photo/1 on The Economist's article about crypto mining in Texas o/a 2024-08-27

• for: elephants in the room - financial industry at the heart of the polycrisis, polycrisis - key role of finance industry, Marjorie Kelly, Capitalism crisis, Laura Flanders show, book - Wealth Supremacy - how the Extractive Economy and the Biased Rules of Captialism Drive Today's Crises

• Summary

  • This talk really emphasizes the need for the Stop Reset Go / Deep Humanity Wealth to Wellth program
  • Interviewee Marjorie Kelly started Business Ethics magainze in 1987 to show the positive side of business After 30 years, she found that it was still tinkering at the edges. Why? - because it wasn't addressing the fundamental issue.
  • Why there hasn't been noticeable change in spite of all these progressive efforts is because we avoided questioning the fundamental assumption that maximizing returns to shareholders and gains to shareholder portfolios is good for people and planet.**** It turns out that it isn't. It's fundamentally bad for civilization and has played a major role in shaping today's polycrisis.
  • Why wealth supremacy is entangled with white supremacy
  • Financial assets are the subject
    • Equity and bonds use to be equal to GDP in the 1950s.
    • Now it's 5 times as much
  • Financial assets extracts too much from common people
  • Question: Families are swimming in debt. Who owns all this financial debt? ...The financial elites do.

• meme

  • wealth supremacy and white supremacy are entangled

Link to: https://hypothes.is/a/lV19ytGBEe2ynWMu34UKUg

This depreciation is done at the lowest level of exchange and caused the system to collapse rather quickly. What level is our current exchange done at such that the inequalities are pushed up multiple levels making the system seem more stable? How is instability introduced? How could it be minimized?

Our current system is valued both by time and skill (using the measure of payment per hour).

Compare this with salespeople who are paid on commission rather than on an hourly basis. They are then using their skill of sales ability and balancing time (and levels of chance) to create their outcomes, but at the same time, some of their work is built on the platform that sales management or the company provides. Who builds this and how do they get paid for it? Who provides sales leads? How is this calculated into the system costs?

How do these ideas fit into the Bullshit Jobs thesis?

What kind of capitalism are we talking about?

We are starting to see critical thinking and discussion around "hard" but necessary truths. These truths center around complicated concepts, controlled by politicians, MSM and others who would rather not have this discussion. America's general population seems lost, gorging on the dumb-down need to know culture (those that have and can dictate what the rest need to know) and group think, herd mentality.