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You don’t get it because you are too integrated and too deeply trust the machine. The machine protects you and is always on your side. “Use PayPal.” They said the same thing a decade ago too. It comes down to trust in humans. You speak of “enforceable judgements” like human judgement is never wrong or unjust, or even simply biased. Math is never unjust.

Cryptography is highly resistant to fraud, maintaining high integrity by merit of things like hash functions and digital signatures. Humans fall for scams and we can’t blame the math for their ignorance.

Maybe you might get the point of this next decade, but I do sincerely hope that you have a simple life of PayPal mediated transactions.

All work will be like this forever more. Most work is actually pointless bullshit.

Get used to, or opt out of it all.

It’s perfectly ok if you don’t need it, but why do you want to deny others something if they find it useful?

The moat is GPUs/TPUs, ram and compute. When you need $200k of compute to run the frontier models, you are likely to be renting access to generate your tokens.

Off by one error.

Money is destroyed when a loan is paid back. Private credit does not expand the monetary supply permanently. Only the state can increase the money supply.

Can you provide an example of deflation destroying an economy in history? There are many more examples of inflation destroying economies.

Bitcoin doesn’t pay interest. And that’s a good thing.

Deflation is a good thing, it rewards delayed gratification. Those evil Keynesians have convinced the world a little bit of inflation is good. It isn’t. Losing purchasing power on your money is a bug.

Nothing wrong with putting money under a mattress for 100y if the value of money is not evaporating.

For most of human history the money was stable. It’s the disasters of 20th century wars that eroded the value, and 21st century lack of monetary discipline that keeps driving it down now.

Probably for the best. Humanity had a good run, but this is no longer our civilization.

Your best course of action is to start ripping the copper out of the walls.

If your name is banksy, because a new banksy appearing in front of my house would increase the value of the entire block.