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Where is this assumption coming from that there is even a problem? Demand goes up, prices go up. Sorry you can't buy a GPU as cheap as you could a few months ag

Where is this assumption coming from that there is even a problem? Demand goes up, prices go up. Sorry you can't buy a GPU as cheap as you could a few months ago, that's life.

Filligree 9y ago
I can't get the GPU I need. That's a problem for me. You can argue that it's also the market working correctly, but if you drop the 'market' abstraction and look at what people are actually doing, they're burning a lot of power and resources for no actual useful purpose and causing minor problems like this in the process. At best, this demonstrates a coordination problem. If we're so bad at coordinating that we can't build a functional economy even with the minimal central control implied by fractional reserve banking and central banks, but have to do stupidly inefficient things instead of having even a single trusted party, then humanity sucks rather more than expected. At worst, well. The above isn't actually true. The existing, fiat-based economy works just fine, and Bitcoin doesn't. It's inherently deflationary, it's a prototype -- all the things so many people have already mentioned. So why are we doing it?
- AboutTheWhisles 9y ago
  > I can't get the GPU I need You mean you can't get the GPU you want at a price that fits your expectation. > then humanity sucks rather more than expected Interestingly I think it may be beneficial to adjust your expectations in this area too. > The existing, fiat-based economy works just fine, and Bitcoin doesn't. It works fine for you. Also bitcoin isn't the reason GPU prices are high, it is other cryptocurrencies and interestingly they actually work because they aren't being intentionally destroyed from the inside out. > It's inherently deflationary Doesn't matter, and guess what, when people have a choice in their currency, they aren't going to choose something that inflates. > it's a prototype According to who and what definition?

Where is this assumption coming from that there is even a problem? Demand goes up, prices go up. Sorry you can't buy a GPU as cheap as you could a few months ago, that's life.

Filligree 9y ago

I can't get the GPU I need. That's a problem for me. You can argue that it's also the market working correctly, but if you drop the 'market' abstraction and look at what people are actually doing, they're burning a lot of power and resources for no actual useful purpose and causing minor problems like this in the process. At best, this demonstrates a coordination problem. If we're so bad at coordinating that we can't build a functional economy even with the minimal central control implied by fractional reserve banking and central banks, but have to do stupidly inefficient things instead of having even a single trusted party, then humanity sucks rather more than expected. At worst, well. The above isn't actually true. The existing, fiat-based economy works just fine, and Bitcoin doesn't. It's inherently deflationary, it's a prototype -- all the things so many people have already mentioned. So why are we doing it?

AboutTheWhisles 9y ago
> I can't get the GPU I need You mean you can't get the GPU you want at a price that fits your expectation. > then humanity sucks rather more than expected Interestingly I think it may be beneficial to adjust your expectations in this area too. > The existing, fiat-based economy works just fine, and Bitcoin doesn't. It works fine for you. Also bitcoin isn't the reason GPU prices are high, it is other cryptocurrencies and interestingly they actually work because they aren't being intentionally destroyed from the inside out. > It's inherently deflationary Doesn't matter, and guess what, when people have a choice in their currency, they aren't going to choose something that inflates. > it's a prototype According to who and what definition?