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I guess I have a weird family. My ex wife was there. She is a programmer who I consider a mathematical genius. I am a programmer. Our son was there. He rebelle
by okareaman 5y ago
I guess I have a weird family. My ex wife was there. She is a programmer who I consider a mathematical genius. I am a programmer. Our son was there. He rebelled by not caring about anything tech. My mother and father are pretty smart. They were all curious about it because of the buzz, so I did my best to explain it. I'm pretty sure they grokked it, especially the part about Bitcoin being attractive because the government can't devalue it by printing more. My ex has a relative working in New York City as a hedge fund manager, so I asked her to ask him to get a second opinion.
- allears 5y agoWhen you say "the government can't devalue it by printing more," that shows a pretty shallow understanding of economics. Are you thinking there's only so much gold owned by the government, and each printed dollar represents a share of that gold? That hasn't been true for a long time. Are you thinking there's only so much money in the world, so we should never print more since that dilutes the pool? That's not correct either. Economics isn't an easy subject, and I'm far from knowledgeable about it myself, but I do know that the sound bites favored by TV personalities are all about pushing political agendas, and not at all related to actual, you know, truth.
- okareaman 5y agoI'm aware that we are not on the gold standard. I'm also aware that money supply is a number that is closely tracked. I'm also aware that countries get in trouble when they try to print new money to get out of a crisis. That's about the extent of my understanding.
- tomcam 5y agoPretty fun-sounding family! Must have been a fascinating conversation.