3 ms·

I think that currency volatility won't be a problem in the future. Everything will be online and prices of items will update in real time to reflect supply and

I think that currency volatility won't be a problem in the future. Everything will be online and prices of items will update in real time to reflect supply and demand relative to any digital currency of your choice. It will be like in the old days when people used to haggle over the price of everything.

wodenokoto 9y ago
> I think that currency volatility won't be a problem in the future .... It will be like in the old days when people used to haggle over the price of everything. That does sound like a problem to me.
- jon_richards 9y ago
  Don't worry, there will be algorithms that play the market by buying and stockpiling goods when their prices are low and sell them when their prices are high, smoothing out the supply/demand and taking a small margin in exchange for bearing that risk. Then there will be services that virtualize that, with price insurance and the like. Then there will be services that let you put in an order that will only buy something if its price goes below a certain level. Then there will be services that let you put in a time-scale over which you want to buy something and make sure you get the best price while still getting the item within that time (including shipping price and time, of course). Then there will be services that estimate all this for you. I'm still waiting for someone to write the dystopian novel where you choose an "advertising agency" and they surveil you, automatically ordering everything you need/want based on your income, taste, preferences, etc.
mbrock 9y ago
I guess you would also haggle continuously over your per-second wage?
- whoisninja9 9y ago
  there's a lot of talk about stablecoins. I think it is a great idea but what we define as "stable" is fiat currency. The whole idea of creating this website is to make people think if fiat is really stable? So, if we think about what is best way to create stablecoins. We should look at it from first principles, i.e. stable relative to what?(probably we want it to be stable relative to everyday commodities we consume I would guess) and how do we make sure people don't use to speculate its moves? I don't have an answer but I think it is a tough one at least for me.
mantas 9y ago
You mean like in major inflation or other humanitarian crises when people would get their wage and rush to the shop immediately to buy food for next week? Because god knows what their money will be worth after half a day? Wonderful future to look forward to.

wodenokoto 9y ago

> I think that currency volatility won't be a problem in the future .... It will be like in the old days when people used to haggle over the price of everything. That does sound like a problem to me.

jon_richards 9y ago
Don't worry, there will be algorithms that play the market by buying and stockpiling goods when their prices are low and sell them when their prices are high, smoothing out the supply/demand and taking a small margin in exchange for bearing that risk. Then there will be services that virtualize that, with price insurance and the like. Then there will be services that let you put in an order that will only buy something if its price goes below a certain level. Then there will be services that let you put in a time-scale over which you want to buy something and make sure you get the best price while still getting the item within that time (including shipping price and time, of course). Then there will be services that estimate all this for you. I'm still waiting for someone to write the dystopian novel where you choose an "advertising agency" and they surveil you, automatically ordering everything you need/want based on your income, taste, preferences, etc.

mbrock 9y ago

I guess you would also haggle continuously over your per-second wage?

whoisninja9 9y ago
there's a lot of talk about stablecoins. I think it is a great idea but what we define as "stable" is fiat currency. The whole idea of creating this website is to make people think if fiat is really stable? So, if we think about what is best way to create stablecoins. We should look at it from first principles, i.e. stable relative to what?(probably we want it to be stable relative to everyday commodities we consume I would guess) and how do we make sure people don't use to speculate its moves? I don't have an answer but I think it is a tough one at least for me.

mantas 9y ago

You mean like in major inflation or other humanitarian crises when people would get their wage and rush to the shop immediately to buy food for next week? Because god knows what their money will be worth after half a day? Wonderful future to look forward to.