5 ms·

This looks to be a potentially interesting article. I started scrolling. I kept scrolling. It is long. 23,000 words long. wordstotime.com says it will take roug

This looks to be a potentially interesting article. I started scrolling. I kept scrolling. It is long. 23,000 words long. wordstotime.com says it will take roughly 3 hours to read. Distrust any comment on the content that appears before the post is at least 3 hours old. Similarly how can we upvote it fast enough for the algorithm to not bury it before anyone has a chance to read it.

siavosh 5y ago
Might need to become an automated check before comments are allowed on HN articles.
- makeitdouble 5y ago
  Imagine trying to comment on an academic research paper with a very clear abstract, just to be locked for 5 hours because of the 50 pages of the actual paper.
  - simsla 5y ago
    I once saw a 5 page conference paper with a 120 page appendix. I admit I didn't read the appendix.
lettergram 5y ago
Took me about 40 min lol I have followed this writer for some time, always pretty good and VERY detailed. If you don't know about bitcoin / historic currency, it's a great read. Covers the basis.
gruez 5y ago
>It is long. 23,000 words long. wordstotime.com says it will take roughly 3 hours to read. That's if you read out loud (23,000 @ 140wpm = 2:45 hours). If you silent read, you can get around 240wpm (1:36 hours).
2143 5y ago
What if somebody had read the article before it was submitted to HN?
lbotos 5y ago
As someone who's read Lyn for a while, there wasn't too much "new" here. Strangely for it's length it felt like a cliff notes of some of her other pieces on bitcoin and petrodollars. That said there is plenty here that people can engage with in good faith without reading it all word for word.
- boringg 5y ago
  I've read Lyn a couple times - I can't quite figure out their general position. Seems somewhat pro crypto and also all for deep dive in the financial markets / some kind of contrarian position. You think that's fairly accurate? I can't also tell if it's all somewhat promo for members area. As an economist, trying to understand the incentives. FWIW I like the research.
  - quest88 5y ago
    From the couple of articles I read: Wants to be pro-crypto but also objective and rational it.
    - boringg 5y ago
      This resonates as well. I appreciate the effort on objectiveness
  - lbotos 5y ago
    I've always felt like Lyn asks 5 whys, and then possibly, how can we use this to make money. I'm not a subscriber so I dunno how profitable she is, but I think she usually tries not to push an angle dogmatically in most of her public writing which can be refreshing these days.
    - boringg 5y ago
      That kind of feels like how I read it too. Thanks
kraemahz 5y ago
I didn't read the article, but I scrolled through it until I found the place where he answers the question in the headline: What is money? Well, the answer to that question ties into the difference between currency and money. Currency is some other entity’s liability, and they can choose whether or not to honor that particular liability. Money is something that is intrinsically valuable in its own right to other entities, and that has no counterparty risk if you custody it yourself (although it may have pricing risk related to supply and demand). In other words, Russia’s gold is money; their FX reserves are currency. The same is true for other countries.
- bartvk 5y ago
  > I found the place where he answers the question in the headline The author is a woman.
  - saltmeister 5y ago
  - layer8 5y ago
    Nowadays that might not be enough information to select the appropriate pronoun. ;)
    - wbsss4412 5y ago
      And yet, a pronoun was selected (incorrectly).
vishnugupta 5y ago
FWIW, I read the article couple of weeks ago and engaged in a healthy debate with Lyn on Twitter.
rkagerer 5y ago
Read it beginning to end first time I clicked the link. Yeah, it took a while. She summarizes several fascinating concepts in a fairly approachable manner. Knew a lot of this already, picked up some new examples I hadn't heard of before. Feel like it's a good article for sharing with older-generation family etc.
fsckboy 5y ago
> Distrust any comment on the content that appears before the post is at least 3 hours old people who've studied economics formally already have a good grasp of what money is; as they read through the first few paragraphs of this they can see by its meandering where it may be headed. I don't plan to finish it.
- dalbasal 5y ago
  This is fine. Only read what seems interesting. But... should you be voting based on what you think the article will probably say?
  - fsckboy 5y ago
    I didn't vote, but my comment was in response to something that says "don't trust comments". If you see something off in the first paragraph, it's fair game to comment on.

siavosh 5y ago

Might need to become an automated check before comments are allowed on HN articles.

makeitdouble 5y ago
Imagine trying to comment on an academic research paper with a very clear abstract, just to be locked for 5 hours because of the 50 pages of the actual paper.
- simsla 5y ago
  I once saw a 5 page conference paper with a 120 page appendix. I admit I didn't read the appendix.

lettergram 5y ago

Took me about 40 min lol I have followed this writer for some time, always pretty good and VERY detailed. If you don't know about bitcoin / historic currency, it's a great read. Covers the basis.

gruez 5y ago

>It is long. 23,000 words long. wordstotime.com says it will take roughly 3 hours to read. That's if you read out loud (23,000 @ 140wpm = 2:45 hours). If you silent read, you can get around 240wpm (1:36 hours).

2143 5y ago

What if somebody had read the article before it was submitted to HN?

lbotos 5y ago

As someone who's read Lyn for a while, there wasn't too much "new" here. Strangely for it's length it felt like a cliff notes of some of her other pieces on bitcoin and petrodollars. That said there is plenty here that people can engage with in good faith without reading it all word for word.

boringg 5y ago
I've read Lyn a couple times - I can't quite figure out their general position. Seems somewhat pro crypto and also all for deep dive in the financial markets / some kind of contrarian position. You think that's fairly accurate? I can't also tell if it's all somewhat promo for members area. As an economist, trying to understand the incentives. FWIW I like the research.
- quest88 5y ago
  From the couple of articles I read: Wants to be pro-crypto but also objective and rational it.
  - boringg 5y ago
    This resonates as well. I appreciate the effort on objectiveness
- lbotos 5y ago
  I've always felt like Lyn asks 5 whys, and then possibly, how can we use this to make money. I'm not a subscriber so I dunno how profitable she is, but I think she usually tries not to push an angle dogmatically in most of her public writing which can be refreshing these days.
  - boringg 5y ago
    That kind of feels like how I read it too. Thanks

kraemahz 5y ago

I didn't read the article, but I scrolled through it until I found the place where he answers the question in the headline: What is money? Well, the answer to that question ties into the difference between currency and money. Currency is some other entity’s liability, and they can choose whether or not to honor that particular liability. Money is something that is intrinsically valuable in its own right to other entities, and that has no counterparty risk if you custody it yourself (although it may have pricing risk related to supply and demand). In other words, Russia’s gold is money; their FX reserves are currency. The same is true for other countries.

bartvk 5y ago
> I found the place where he answers the question in the headline The author is a woman.
- saltmeister 5y ago
- layer8 5y ago
  Nowadays that might not be enough information to select the appropriate pronoun. ;)
  - wbsss4412 5y ago
    And yet, a pronoun was selected (incorrectly).

vishnugupta 5y ago

FWIW, I read the article couple of weeks ago and engaged in a healthy debate with Lyn on Twitter.

rkagerer 5y ago

Read it beginning to end first time I clicked the link. Yeah, it took a while. She summarizes several fascinating concepts in a fairly approachable manner. Knew a lot of this already, picked up some new examples I hadn't heard of before. Feel like it's a good article for sharing with older-generation family etc.

fsckboy 5y ago

> Distrust any comment on the content that appears before the post is at least 3 hours old people who've studied economics formally already have a good grasp of what money is; as they read through the first few paragraphs of this they can see by its meandering where it may be headed. I don't plan to finish it.

dalbasal 5y ago
This is fine. Only read what seems interesting. But... should you be voting based on what you think the article will probably say?
- fsckboy 5y ago
  I didn't vote, but my comment was in response to something that says "don't trust comments". If you see something off in the first paragraph, it's fair game to comment on.