Elon Musk - Money is a Database for Resource Allocation

Elon Musk explains his view of money and how to look at it.
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[@Liberty-Vault]

Do you agree with Elon Musk's perception of money? To buy my books, including Thomas Paine: A Lifetime of Radicalism, check out my online bookstore: davidbenner.square.site

[@kevinsigaard]

What are we thriving for "egonomically" right know? Seems like most of it goes to corruption, war, warcrimes and corruptioncrimes i øvrigheden anyway, while everydayhumans dignity and wellbeing gets neglected further and further, because it is not prioritised because of the sad aforementioned reasons, when it could be traumafreegenerationsalwaysallways instead. Why even thrive for an economical goal, when we could live without mammon being a factor and an obstacle in our lives priortizingblurringwise and timewastingwise? F mammon!

[@screwstatists7324]

His economics are dubious in detail but generally accurate.

[@Bill-w5r]

Facts… also very easy to explain to our children.

[@emilydonna1]

I was homeless, got into drug's went to prison and then I got to know Jesus and he changed my life...Heaven came through for me in my finances too, getting $50,000 in 2months . I can support God's work and give back to my community. God is absolutely more than enough! Now I have a new identity and a child of God

[@Benjaminarmstrong684]

Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down of myself because of low finance but I still believe in God.

[@Joegolberg1]

What a testimony!!! I'm genuinely curious to know how you earn that much monthly

[@Kevinbrian1]

I work at a restaurant here in Houston Texas. Things have been really difficult as I'm a single dad and trying my best to pay bills and take care of my daughters

[@emilydonna1]

I started pretty low $2000 investing in forex. Thereabouts. The returns came massive. Joey is in school doing well, telling me of new friends he's meeting in school.Zachery M Demers. you're a miracle

[@emilydonna1]

HE'S MOSTLY ON TELEGRAMS, USING THE USERNAME...

[@dion8962]

I need a larger data base for my resource allocation

[@edzehoo]

wrong analogy. What you meant is you need to update the numbers tied to your profile to make it larger in that database for resource allocation

[@Basta11]

No, you need bigger numbers in your record entry.

[@patrickjade9349]

You got terabytes of free space bro, use what you got lol

[@User-actSpacing]

Try to add an extra digit to the data.

[@onehappydawg]

All final settlement on base layers are very slow. When you buy something with your Visa card and swipe it through the machine in a split second, and it’s approved, that isn’t final settlement on the base layer. That is a transaction happening on a 2 layer which moves much quicker. The final settlement comes later when many many transactions are bundled together and settled all at once. Apps built on top of Bitcoin’s base layer will make and have made transactions almost instantaneous.

[@dividendduck]

Well said 👏

[@manubruyninckx9705]

and that's why Bitcoin is not money for transactions ... it's a form of capital to store your energy over time and space.

[@AnnaCeline-ku9ys]

As a new beginner you surely need a professional broker to assist you through this process.

[@Hgl-sz2re]

You will miss a lot of good opportunities to make money online if you don’t have money.

[@MikeLorenzo-pk9nb]

If not Astrid Iwertz i would have lost all my savings to all this fake account managers out there.

[@PatrickJohn-nv6uv]

I can’t wait to reinvest more money after I successfully withdraw my first investment payment.

[@JohnKlaus-rl4pi]

How can I get her contact?

[@Emanresu22]

Poverty is widespread since cost of living is so high, largely because for most overall taxation is 50% when including all sales, employment and other taxes, even higher when you consider debt costs

[@seabreeze4559]

uk tax rate can be 60% covered by some youtubers before you even count other stuff like 20% vat

[@Emanresu22]

Block chain fixes unintentional errors doesn't fix intentional corruption

[@MFTAB]

Transaction volume of Bitcoin is not an issue. Money scales in layers. Use gold as an analogy. What was the transaction volume of gold when it was used as a currency? Clearly very low. Over time, layers were built on top to allow the system to scale. Ultimately leading to fiat currency that was once backed by gold, then that backing was broken. There is no reason why Bitcoin cant take the same path. The base layer needs to optimize for security and decentralization, not speed. Subsequent layers can optimize for speed and transaction throughput, but if the base layer is not decentralized and secure then nothing else matters.

[@bernardwolff8742]

It can not happen to bitcoin as it has an limited amount circulating. Considering that thousands of bitcoins are lost for good during the very beginning and due to the hardware that a lot of people don’t have access to anymore, from the time BTC was wort cents only! The limited amount of BTC is secured by its blockchain.

[@Ry4n35]

@@bernardwolff8742 Bitcoins limited supply protects its value. But the Supply is infinite if you add digits to the right. What’s the difference between 1,000 & 1.000? The decimal point. Nations move that all the time. Do you remember the “new peso”?

[@commandersprocket]

I agree with musks view of money after you have fulfilled the bottom layers of Maslow’s hierarchy of needs. But if you don’t have around food and housing and medical care, then all of your focus is gonna be on that. In some respects must has had a challenging life, but he’s never struggled with housing or not had enough food. While I think that is good, it leaves him with blind spots.

[@atomicsmith]

People at those levels don’t “need” money. They need food, shelter, clothing,etc. What musk says arguably applies more to them. Most people in those situations perceive their lack of money as a lack of value or worth. In truth they just need to learn to exchange value for value. People get emotional about money, but most people don’t get emotional about information. Musk is saying treat it as the abstract entity it is…

[@viktorianas]

Some portion of people MUST struggle in capitalism, why? Because someone needs to do sh!tty jobs, the inflation will ALWAYS reach the certain threshold to FORCE people do these jobs. The ONLY way out is automation.

[@Bonesph]

Musk was rolling in blood diamond money so his life and now he grifts harder than anyone.

[@NoName-ky2sb]

​@@atomicsmithwhat you said is literally what Bitcoin is. Sht is just regurgitated in different words

[@Taanstafl12]

Separation of coin and state. #BTC

[@JargonThD]

I think the term they are using (or mean to use) is COBOL, a programming language, not "cobalt" or "kobold". Ancient history.

[@NUCLEARARMAMENT]

15% or more of all lines of code in existence today is COBOL. Over 800 billion lines are in production, and over 1.5 billion new lines are being added every year. 1-2 million programmers around the world deal with COBOL. It's the most safe and secure programming job you can get that isn't a government job, and the effort required to get in the door is arguably the least, with newcomers getting hired for decent sums from the start. TL;DR: getting your foot in the door is easier relative to just about any other job, and once you're in you coast for the rest of your natural born life.

[@mfawls9624]

Hey! Who are you calling 'ancient'!? COBOL is still around, in more places than you think...doing a lot of things under the hood.

[@oldpoet313]

Simply: money is ENERGY. You exchange time and work. The currency is a symbol representing value of effort according to demand and supply 😊😊😊🎉

[@User-actSpacing]

“Fuel units” - Tai Lopez 😂😂😂

[@johnt5897]

Money is only valuable in that you can exchange it for resources you need and want.

[@AliciaBurdue]

I love his perspectives on $!

[@jetpark3743]

Make it first then think of what it is

[@Auto__addictz]

When u know what it is then u can make it

[@AA-nx8ki]

The sale position is the potential on the lateral reserve and allocated markers of interest snd therefore one must up relate financial pots and subclasses to rewire federal stocks inorder to pump bitcoin.

[@Persephone-g7j]

Pernicious ❤

[@joseleon8235]

Thinking beyond extremes, the database is aligned with the decisions of millions of people in the market. It sure is inefficient, but it is the best approximation. The next disruption will be perfect information tied to AI. The next database will not store resources aligned with the market anymore; the system will not need our piece of information, or what we now call our freedom to choose.

[@Joe-jt2co]

Money is data. The monetary system is a database for resource allocation.

[@Daimo83]

$10 poverty lunch £10000 cheap car $1000000000 database for resource allocation

[@johnnywlittle]

What’s original this is taken from

[@Korgath13]

Lex Fridman podcast

[@Ivan_Campbell]

This is why Kaspa crypto currency is so valuable. It has solved the trillema they’re talking about: decentralisation, network security and scalability. Digital silver in other words. Bitcoin is digital gold. A store of value

[@duncanfraser9979]

Yes my man, bags are packed ready to fly…been waiting a while but it’ll be worth the wait hopefully

[@True_And_Livin]

Elon Can I Please Have A Free CyberTruck ❤

[@benlatham5816]

Money is a way to bring everyone to the field to play ball.... The fed is the (corrupt umpire) The people are replaceable players Those with skills will always have skills Money or no money.....

[@PPCCO.]

In short, if it’s not tradable and it can’t be converted.. it’s useless.

[@MarkJespersen-f6n]

Money gives mediocre men/women a voice.

[@suras8984]

Social media does that not money.

[@MarkJespersen-f6n]

True

[@rayakusu-fosterB]

"IN LOVE 💘 WITH THE DAYS OF TRADE BY BARTER; SUSTAINABILITY" ❤🇬🇧❤

[@CxMx-xr9pt]

😊😊

[@TheAssaschan]

KASPA is the answer! Research it!

[@Unknown--user610]

Feels good to be broke so no one can f$%# my money

[@Stahlvin]

Solana can scale BTC.

[@DarjaTruth]

He's teaching you how to steal and get away with it, basically.

[@BMC30]

How so

[@JeradJohnson]

You clearly didn’t understand.

[@DarjaTruth]

@@JeradJohnson I don't have to understand the details, i know his personality good enough, so i know what he's all about.

[@JeradJohnson]

@@DarjaTruth I watched your videos and I’m sorry you feel that way. I can’t help but ask, what gave you the idea that he has stolen from you? If you don’t mind me asking..

[@DarjaTruth]

@@JeradJohnson This is not an "idea", mister - it's a fact. He's has, and he's gonna further more reveal himself accidentally, but so far: you don't want to listen, and see what's behind his nonsenses bubbling, and he's managed to bribed and shut down all the key whitnesses, so far. At least: that's what he thinks.

[@stevenbates388]

The Next Dr. Evil right here

[@antonroux6737]

self-serving bullshit

[@nicholassangster4556]

Elon starting to look like an old Chinese man

[@Samsgarden]

The best way to view money: I have an obscene net worth and you don’t, and I still managed to convince you that I’m an edgy social critic.

[@briansamaniego-howard1806]

🙇🏻‍♀️ im too stupid for this conversation

[@hotsauce8128]

Just buy dodge dude

[@CxMx-xr9pt]

❤❤❤😂😊

[@jonjosenna5581]

A billionaire telling me money doesn’t matter 😮…….. don’t believe a word of it!

[@joeyjoejoeshabadoo]

Oh God. Is that what you heard? He said its useless in of itself. If you're the last man alive, your dollars are worthless.

[@ChristianLeFer]

Watch the video again, bro. 😎

[@khamissalim1200]

If you have all the things Money can buy,then you don't need the money itself.you need what Money do,so money is in between

[@sfg206]

Grow a 🧠

[@CxMx-xr9pt]

😂

[@CxMx-xr9pt]

😂😂😂😂😂

[@rachelnaomidavis]

My husband is very handsome!

[@Ilovelife20101]

Everything is an illusion. Nothing is real. Everything is energy. We are all the universe in ecstatic motion. 🙏💜🕊🕉✡️⚛️☪️☯️✝️🕉

[@TunLeng-bg2dr]

❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤very very happy good ❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤

[@ElderMillennial84]

wtf is a billionaire going to tell me about thousandaire money. It doesn’t scale. You dudes need to stop listening to billionaires and millionaires tell you shit about money. These mfers don’t even pay taxes and get away with it legally. But if me or you do it, garnishing our wages fas af.

[@egonkirchof]

If the governament does not create more Money How would the economy grow?

[@georgesamaras2922]

by deflation and actual production. there is no "economy". all there is is energy extraction and consumption. printing shit out of thin air does nothing to increase energy extraction unless you build an army and invade your neighbor.

[@Talk123tome]

Stupidest question I've ever seen. Would you stop spending, would you stop work? If you stop a thing named inflation, you have no depreciation in the value, meaning that you have scarcity/deflation, pushing the value up by the simple rule of offer and demand.

[@egonkirchof]

@@Talk123tome if there is only X dollars in the economy and the sum of all the values goes up 2x following all what you said, then now there are 2X dollars in the economy. Who printed that extra X dollars and put them in circulation?

[@matheusdardenne]

The economy grows when more goods and services are created. When the government creates money, it does not create wealth. It dilutes the value of the current wealth. The generation of more currency is what prevents the economy from growing.

[@matheusdardenne]

​@egonkirchof When the economy grows, prices don't go up, they go down. If you have 100 dollars and 50 goods to sell, each will cost two dollars. If you have 100 dollars and 100 products, each will cost a dollar. In this example, the economy doubled, and people would be effectively twice as rich with the same amount of money. By printing another 100 dollars, you would have 200 dollars for 100 products, and prices would remain the same ($2), so no one got richer (well, the State did). However, the government does not generally create money in equal proportion to how much the economy grew. In the US, they aim at a 2% inflation rate, which means they would print 102 dollars for the 100 goods produced, which now means you have $202 for 100 products, so they cost $2.02, meaning everyone got poorer, because they can buy less now than they could earlier. This creates a feedback loop. Prices go up, people have to demand higher wages (which they don't always get), which makes prices go up more, ad infinitum. The average American today has half the purchasing power of the average American of 30 years ago.

[@MichaelMeasho-s9s]

Coming from a scammer 😂. He still owes the original investors millions. Remember he started a space programs that supposedly failed and he kept the money but used the technology and put it in a go cart called Tesla

[@CxMx-xr9pt]

😂