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I noticed that too, but I don't think it really matters. Even if Jerome Powell came out every day just to say "Fuck Doge, it's a scam", the response from crypt

by bena 5y ago

I noticed that too, but I don't think it really matters. Even if Jerome Powell came out every day just to say "Fuck Doge, it's a scam", the response from crypto enthusiasts would be "That's exactly what you would say"

ffggvv 5y ago
it’s not about enthusiasts. it’s about adoption by financial services firms and corporations. which will be affected by what the fed says
- lallysingh 5y ago
  Of /Dogecoin/? This is going to result in more memes, possibly some decent puns.
  - ffggvv 5y ago
    of crypto in general. doge is irrelevant other than the fact it contributes to making all crypto seem like a joke
willis936 5y ago
While the conclusion that "Doge pumping is a scam" is very likely correct, the sentiment that an adversary can't give an unbiased opinion is also correct. I'd value the opinion of an expert with no skin in the game more.
- lupire 5y ago
  Who would go to all the trouble of becoming a recognized expert and not have any skin in the game?
  - willis936 5y ago
    You'll have to ask an economist.
- bena 5y ago
  I'm not speaking to whether or not he's correct. It's all about the fact that there's a not insignificant number of people who won't regard his comments at all due to his position. In fact will assume that he's being intentionally harmful due to his position. Also, how do we measure "skin in the game" with crypto. Is holding Doge skin in the game? What about crypto in general? What about currency? If the most fantastic promises of crypto come to pass, it'll replace fiat currency. So the success of crypto kind of comes at the expense of fiat. So by holding fiat, we could consider that skin in the game on some level.
  - willis936 5y ago
    >Is holding Doge skin in the game? Yes. >So by holding fiat, we could consider that skin in the game on some level. Also yes. However, the leader of the fed is, for all intents and purposes, king fiat. There is no person with more interest in maintaining the current system than someone in charge of the fed.
    - bena 5y ago
      So when you were asking for an expert with no skin in the game, that was more wishful thinking than anything about what's going on in the story. That's all good. I was unsure about where you thought the line was as it gives context to that statement.
    - dragonwriter 5y ago
      > There is no person with more interest in maintaining the current system than someone in charge of the fed. Sure there is; Fed Chair is a job, not an investment, and its a job taken by people who are politically well connected and likely to get other jobs, should they want them, based on those connections. There lots of people who have proportionately more to lose from problems in fiat than the fed chair.
- deckeraa 5y ago
  Alternatively, Kashkari's comments could be given more weight if he were willing to short Doge over a long-ish (~2 year) timeframe. Then he would stand to lose money if Doge held its value for longer than that timeframe (which would indicate that it has more value than he's stating that it has).

by bena 5y ago

ffggvv 5y ago

it’s not about enthusiasts. it’s about adoption by financial services firms and corporations. which will be affected by what the fed says

lallysingh 5y ago
Of /Dogecoin/? This is going to result in more memes, possibly some decent puns.
- ffggvv 5y ago
  of crypto in general. doge is irrelevant other than the fact it contributes to making all crypto seem like a joke

willis936 5y ago

While the conclusion that "Doge pumping is a scam" is very likely correct, the sentiment that an adversary can't give an unbiased opinion is also correct. I'd value the opinion of an expert with no skin in the game more.

lupire 5y ago
Who would go to all the trouble of becoming a recognized expert and not have any skin in the game?
- willis936 5y ago
  You'll have to ask an economist.
bena 5y ago
I'm not speaking to whether or not he's correct. It's all about the fact that there's a not insignificant number of people who won't regard his comments at all due to his position. In fact will assume that he's being intentionally harmful due to his position. Also, how do we measure "skin in the game" with crypto. Is holding Doge skin in the game? What about crypto in general? What about currency? If the most fantastic promises of crypto come to pass, it'll replace fiat currency. So the success of crypto kind of comes at the expense of fiat. So by holding fiat, we could consider that skin in the game on some level.
- willis936 5y ago
  >Is holding Doge skin in the game? Yes. >So by holding fiat, we could consider that skin in the game on some level. Also yes. However, the leader of the fed is, for all intents and purposes, king fiat. There is no person with more interest in maintaining the current system than someone in charge of the fed.
  - bena 5y ago
    So when you were asking for an expert with no skin in the game, that was more wishful thinking than anything about what's going on in the story. That's all good. I was unsure about where you thought the line was as it gives context to that statement.
  - dragonwriter 5y ago
    > There is no person with more interest in maintaining the current system than someone in charge of the fed. Sure there is; Fed Chair is a job, not an investment, and its a job taken by people who are politically well connected and likely to get other jobs, should they want them, based on those connections. There lots of people who have proportionately more to lose from problems in fiat than the fed chair.
deckeraa 5y ago
Alternatively, Kashkari's comments could be given more weight if he were willing to short Doge over a long-ish (~2 year) timeframe. Then he would stand to lose money if Doge held its value for longer than that timeframe (which would indicate that it has more value than he's stating that it has).