By Bitcoin 잡지 - 2년 전 - 읽기 시간: 10분
방법 Bitcoin의 사운드 인센티브가 건전한 세상을 만듭니다.
왜? bitcoin 세계의 인센티브를 최대의 이익에 맞추는 최상의 돈을 선택합니까?
Clearing one’s mind and gazing into the machinery of the economic world, one is left with little besides absolute awe.
수년에 걸친 인류의 발명과 그 이후의 합성은 XNUMX세대 전만 해도 거의 알아볼 수 없을 정도의 풍요로운 세계를 만들어 냈습니다.
Airplanes physically connecting every point on earth, the internet digitally connecting every person at the speed of light for free, supply abundance in western civilizations, massive complex infrastructures found in manufacturing, supply chains, cities, etc. The result of countless human generations dedicating their entire lifetime in the pursuit of productive aims.
Despite all of the problems that are so apparent to us today, we’ve truly created something great.
인센티브
이 창조를 이끈 섬세한 균형은 세계의 모더니티 전체가 올바르게 정렬된 인센티브를 통해 만들어졌다는 것입니다.
Humans dedicate their entire lifetime in a productive manner, but their end-goal is not to chase productivity “just because.” Rather, they’re chasing 돈 그리고 함께 제공되는 모든 것 - 공급품, 상품, 지위, 정서적 안전, 선택 사항, 자유.
돈이란?
Money can be described in many ways and can be unintuitive if one has never spent the time to internalize its meaning. Simply put, money is the stored productivity of one person.
You work all day and provide value, services or goods to others. You, yourself, also want value, services and goods in exchange. In the very distant past, people would directly barter with one another to receive what they wanted. It didn’t take humanity long to realize that more efficient ways existed and thus money as a medium of exchange was born.
Instead of directly bartering your service for another person’s goods, you get rewarded an intermediate, not-yet-consumed state of such value/services/goods in the form of money.
That being the case, money can be looked at as stored productivity: your labor essentially gets calcified in the form of money.
In another way of looking at it, money is human time and energy converted into a token.
Any amount of money, therefore, is an indirect extremely-fungible debit of other people’s time and energy.
Aligned Incentives And Technology
Given that money is a claim on other people’s services/goods, each human pursues money in order to get more goods, or more services, to further his own life’s desires. Akin to having a carrot on a stick in front of them, humans are generally greatly motivated by their desires.
The critical invariant here is that in order to obtain money, one must trade in their own services/goods for it. In that way, a positive flywheel spins up where one has to provide value to the world in order to receive value back.
그러나 이 혼합에는 또 다른 중요한 구성 요소가 있습니다. 바로 탐욕입니다. 인간은 본질적으로 탐욕스러운 동물입니다. 그들은 항상 자신이 가진 것보다 더 많은 것을 원합니다.
With this information, it becomes apparent why the consumer economy is successfully structured to always drive us to crave/want more things: it taps into our core human nature.
While the consumer economy is generally perceived negatively, one could argue that this propels society further into making every human more productive. You’re indirectly incentivizing humans to do more (to produce) in order to consume more (to satisfy internal desires).
The cherry on top of all of this is another core human trait: laziness.
When you pair greediness with laziness, you understand why humans always have this inherent desire to get more than what they’ve bargained for: to receive a greater payoff compared to the energy expended.
In a well-aligned system, this is a massive benefit because it incentivizes people to think of more efficient ways of achieving the same thing. When society figures out a way to achieve things with less energy or resources, greater abundance eventually trickles in.
In fact, that is what technology is. Technology is the ability to do more with less through the application of new, innovative methods.
A simple but perfect concoction resulting in a win-win scenario would be to incentivize humans to benefit themselves by receiving more for less through the development of efficient technology, indirectly moving humanity forward in the process.
This simple first-principles way of looking at the world describes how humanity has kept advancing throughout the ages, despite having many periods where one could say we’ve reached a comfortable enough state to have retired from this endless pursuit.
Our desires and greed have kept us going.
위험
물론, 우리는 이것이 완벽하게 작동하지 않는다는 것을 직접 목격했습니다. 인간의 타고난 탐욕과 게으름은 선천적으로 사회에 이롭지 않습니다. 우리가 배치한 신중하게 균형 잡힌 시스템은 또 다른 오류가 있는 인간의 특성으로 인해 항상 저하의 위협에 있습니다. 부패.
Corruption can be defined as the abuse of entrusted public power for private gain, typically at the expense of others.
Corruption Of Money
When one begins to artificially alter the properties of money, he inevitably messes with the productivity formula that pushes humanity forward.
Through the constant dilution of the purchasing power of money through inflation and the forceful suppression of interest rates into negative territory, central powers (governments) around the world have artificially made money much cheaper.
If money is stored human labor, then it is fair to say that inflation indirectly robs people of their stored energy. In that way of looking at it, governments are leeching institutions (also defined as a parasite), siphoning off human energy out of the productive people that are driving the world forward, in order to further their own means. To play devil’s advocate, a government’s own means should be the good of the public, but we will touch on that later.
In the same way, the artificially-negative interest rates are unintuitively putting a negative price on future labor.
Typically, because the future is always uncertain, any present-day human productivity loaned in exchange for uncertain future productivity should yield a greater return, as the money (current human productivity) is essentially being risked.
미래 생산성이 더 큰 성과를 낼 것이라는 근본적인 기대가 있습니다.wise 아무도 그것을 위해 현재 생산성을 교환하지 않을 것입니다. 동시에 불확실한 미래 생산성이 예상보다 낮고(또는 XNUMX) 현재 생산성이 사실상 낭비될 위험이 있습니다. 이 두 가지 모두 대출된 돈에 대한 수익을 보장합니다. 즉, 수익률입니다.
By driving interest rates down, governments have forcefully inverted this dynamic and unintuitively made it so that present human productivity is somehow worth more than future productivity. As is the case 독일의 (among other countries) putting your money in a bank costs you a negative 0.5% interest rate. Absent of any yield, or present of negative yield, present money is worth more than future money.
이러한 정부의 간섭으로 인해 저장된 인간 에너지는 인플레이션과 마이너스 금리라는 두 가지 힘으로 인해 지속적으로 저하 상태에 있게 되었습니다.
Of course, such manipulation is only feasible with the kinds of money that are entirely controlled by humans, as is the case with fiat currency. One could make a very strong point arguing that this could not happen in a free market, with a free currency which isn’t controlled, yet which might face competition from other free-market forms of currency.
Redistribution And Inefficient Allocation
Taxation is the forceful redistribution of capital in the economy. Practically speaking, taxes end up being a trade-off for being integrated into the society you are in.
When the government takes taxes from its people with the threat of prison for noncompliance, it essentially steals from them just like a robber who mugs you in the street.
This is widely accepted and not thought of as adversarial due to two factors:
It has always been this way; i.e, it is the commonly accepted status quo.There is an expectation that the money is put to good use, ultimately leading to a more stable and prosperous society which benefits us personally in the long term. Inversely, there is the belief that lower taxation would result in a worse society.The problem with this is that if you believe that the public sector is the most inefficient allocator of capital, you also believe that the money you’re giving away for taxes are being spent very inefficiently.
It doesn’t make sense for any actor to purposefully allocate capital inefficiently. It is the broken incentives of an unchallenged monopoly that allow this sloppiness to flourish.
Governments around the world are legacy institutions that are simultaneously growing in size and crumbling from the inside due to the inefficient and structurally broken ways of organizing themselves.
세금 징수에 대한 독점이라는 정부의 특권적인 위치 때문에, 그들은 다른 조직보다 더 낫고, 빠르며, 강해지기 위해 조직으로서 경쟁할 필요 없이 고정된(증가하는) 수입을 얻습니다. 그들은 궁극적인 중개자입니다. 우리 사회에 만연한 지대 추구자입니다. 인센티브가 세상을 움직이는 것처럼 그러한 조직은 혁신을 일으키거나 스스로를 개선할 이유가 거의 없습니다.
In a similar way, their incentives are also skewed towards 높은 시간 선호 - 장기적 결과와 상관없이 단기적 결정을 잘 할 필요가 있습니다.
The result is an endless passing on of problems into a future administration’s court instead of strategically dealing with them as early as possible. The incentive here is the politician’s imminent re-election bid in the short-term (a few years) instead of the alternative constructive long-term bricklaying process
These unfortunate incentives lead to inadequate results. This constitutes the bear case for communism, socialism and most other middle-of-the-road type of politics that give greater power to the government.
It makes little sense to give greater power to an institution that is not destined to do its job prosperously.
Revenue And Scope Creep
Once any organization gets access to new cash flow, it is very hard to give it up. Modern governments are only growing in spending (at a faster rate, even), not decreasing.
"Nothing is so permanent as a temporary government program.” - 밀턴 프리드먼
A simple example that is widely accepted today? Income taxes were initially introduced to fund wars, and were meant as temporary measures.
Posterity is seemingly undesirable: after all, what organization would purposefully choose to shrink in power, 특히 그들의 성장이 도전받지 않을 때? 더욱이, 그것은 거의 달성할 수 없습니다. 모든 정부는 규모와 상대적 부채(국내 총생산에 대한 부채) 면에서 모두 증가하고 있습니다.
The result of this is that the government is growing in power and governing ability, as it starts to try and control (govern) more aspects of daily lives. This leads to an ever-greater scope creep of centralized institutions and therefore an increased inefficiency in society as a greater part is bureaucratized and managed by said monolith.
If communism is a spectrum, then one could indisputably say that we’vee moved further along that spectrum towards the communism end than where we were sitting a couple of decades ago.
Bitcoin
One reason that governments are able to get away with so much is through their monopoly on money.
21만 개의 고정된 공급량, 불변의 통화 정책 및 파괴할 수 없는 분산된 특성을 통해 Bitcoin 세계에서 지배적인 화폐의 형태가 되어 화폐와 국가를 분리하는 솔루션을 약속합니다.
A society powered by incorruptible sound money is a society with one huge gap in the incentive system plugged for good. Through that, the world should end up with a better equilibrium of incentive structures and therefore better results.
의 가장 큰 약속 Bitcoin 실제로 금전적 재화로 제공하는 명백한 특성은 아니지만 all the numerous downstream effects that follow after adoption of an incorruptible sound money system.
The second order effects of such a profound change are inherently hard to accurately predict, but it is safe to say that they should trend toward greater prosperity.
요약
Through the inefficient redistribution, manipulation and dilution of the money supply, the government inadvertently pushes humanity backwards by degrading the well-working incentive system of the world’s free market.
The incentives are aligned against this negative intervention mechanism ever slowing down, let alone stopping. Humans never voluntarily give away power, and because the monopoly of governing functions is unlikely to ever get challenged, the governing structure is just as unlikely to ever meaningfully increase in efficiency.
This stagnation results in a negative network effect, where each subsequent generation pushes itself further into ruin 부정적인 비 작동 구조를 공급함으로써. 그러한 메커니즘은 언젠가는 폭발하고 재편될 수밖에 없다고 정당하게 이론화할 것입니다. practice has indeed shown that this is the case.
다행히도, 우리는 구명 뗏목을 이용할 수 있는 시대에 살고 있어 매우 운이 좋습니다. Bitcoin 사회가 제도를 재건하고 근본적으로 건전한 시스템에서 오는 더 큰 장기 배당금을 거둘 수 있는 안정적인 기반을 제공하는 솔루션인 이 암울한 터널의 끝에서 빛을 약속합니다.
그 시작은 Bitcoin 표준.
이것은 Stanislav Kozlovski의 게스트 게시물입니다. 표현된 의견은 전적으로 자신의 것이며 BTC Inc.의 의견을 반드시 반영하지는 않습니다. Bitcoin Magazine에는 West Coast Sales Manager인