Despise is such a strong word. I just think that there has to be a benefit to the country receiving the immigrants. Most people say that they have no problem with immigration, but that the proper process is followed. Lots of people wait months or years for their applications to be approved, so how can it be that other people are allowed to just cross a fence and enter? As for deflation, once again, learning about Bitcoin teaches you that this isn't something to fear. There is an excellent book written by Jeff Booth that talks about how deflation is the natural state of the economy. This makes sense because entrepreneurs always figure out how to make things better and cheaper. So for the things that aren't going down in price, there is clearly another mechanism that interferes with this. It's partly that we are using inflationary money, and also that governments are outright stealing our productivity. So what you actually have is technology that pushes towards deflation, but a currency and corrupt government that is pushing the other way. Fiat currency was never sustainable and neither is the financial system. The banks always need to lend in order to create more money. But eventually people and governments can no longer take on any more debt, so how is the old debt supposed to be paid off? This is why you keep saying that a country always needs to grow because growth is the only way for the bubble to not burst.
I was scared of this as well when I first considered buying in 2012. But I think today this is no longer something to fear, and specially with the way Trump is talking today. It is a legitimate asset that you can buy in your brokerage after all. People will naturally discover what is the best way for them to store their extra money. We of course know that cash is the worst since inflation steals the purchasing power. Real estate is proving to be very risky and maintenance and insurance is a huge drag. Gold is of course proving to be very popular, but it's not very compatible in the digital world and using it for final settlement is very difficult. You always need some kind of trusted third party to do transactions in gold. Bitcoin literally solves all of the deficiencies that gold has while keeping all of its properties, except of course that you can't touch it. But the fact that you can't touch it, means that it's easy to transport, so I think this deficiency is balanced out. I think you are absolutely underestimating the huge importance of irreversible transactions. There is simply no better way to settle large transactions between two parties that don't trust each other. This is exactly what a global reserve asset needs. Everybody talks about how when Russia had their treasuries frozen, this was a wake-up call to the rest of the world that their assets aren't safe in the US. You are right that with something so powerful and revolutionary, governments would want to ban it, but we are way past that point. If you want your country to end up like North Korea and hence insulate yourself from the future, then go right ahead and ban Bitcoin. But for any country that wants to remain relevant, embracing Bitcoin instead of fighting it is I think the right play.
This is kind of what I'm getting at. I don't know how accurate it is, and its for Canada, but I imagine that many states offer similar benefits. https://www.instagram.com/reel/DHm5cJkR43z/ So how does this benefit the country? If these people are always on financial assistance from day 1, and for many years, what is the benefit to the country? I even remember seeing all the abuse of H1B visas in the US. Many went to unskilled workers. So the corporations specifically bring in cheap labour because they know these workers can be abused and for lower wages, and they won't complain. There is so much fraud here, and none of it that truly captures that immigration used to be like decades ago and what the true value of immigration is.
Florida is reducing child labor laws because there is a dearth of useless unproductive immigrants to pick oranges.
I admit i have missed the bitcoin train. But I don't see Trump being a catalyst for Bitcoin becoming a world currency. Btw - you buy any TRUMP meme coins? They are pretty cheap right now.
America is pro-immigration because that's its founding nature. Otherwise its a story of the White Man killing a bunch of Red Men. Europe needs immigration because their population is declining. Receiving countries benefit from immigration. The empires that did the best in history absorbed people from different cultures with different ideas. In America, immigrants face hardship and risks to get here. Many die in the process. They are tougher people than natives. As a whole this is not a group of people who are inherently lazy. Agreed that the process should be cleaner. It should be faster and cleaerer. If America could process an application in 2 weeks rather than 10 years, it could pivot on immigration needs faster and it would probably reduce illegal immigration a lot. But no one talks about that. Deflation is bad. If you know something will go on sale tomorrow, will you buy it today? Of course not... that hurts economic growth. The purpose of currency is to grease the wheels of barter so you literally don't have to trade a wheel for a loaf of bread. The purpose of barter is to produce more goods and services so that you and i each have 4 wheels and 4 loaves of bread instead of each having 1 loaf of bread and 1 wheel. America has done really well in the last 30 years because inflation has been small, stable, and positive enough to encourage spending now. Long term inflation has literally been like 2%. Government debt is a problem that will have to be reckoned with.
Side note: did you see how Trump just pardoned a Trevor Milton who literally defrauded a bunch of people with his Nikola Trucks? This is how America will change in the next ten years. Corruption and fraud okay if you openly grease the right wheels (you can steal your loaves of bread instead of trading for it).
we are moving away from this. new modus operandi is now you can do capitalism if you support the current government.