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> Except finance is extremely advanced. Exactly. This is a problem. It can be so advanced that almost nobody understands it. Now take a look at how advanced B
by tomputer 4y ago
> Except finance is extremely advanced.
Exactly. This is a problem. It can be so advanced that almost nobody understands it.
Now take a look at how advanced Bitcoin is:
Total circulation will be 21,000,000 coins. It'll be distributed
to network nodes when they make blocks, with the amount cut in half
every 4 years.
first 4 years: 10,500,000 coins
next 4 years: 5,250,000 coins
next 4 years: 2,625,000 coins
next 4 years: 1,312,500 coins
etc...
When that runs out, the system can support transaction fees if
needed. It's based on open market competition, and there will
probably always be nodes willing to process transactions for free.
Satoshi Nakamoto
- hnews_account_1 4y agoYour idea is KISS works for finance and the rest of humanity are idiots. As you sit down and type from a device created very much by the financial engineering “complications” of the modern market (and in turn being used to create further pockets of complexity).
- ephbit 4y ago> As you sit down and type from a device created very much by the financial engineering “complications” of the modern market ... That's a ridiculous claim. As if the development of complex technical devices wouldn't have happened without complex financial markets and inscrutable financial business models. Complexity in finance .. up to a certain degree it may well serve the purposes of society .. beyond some level though, excessive complexity mostly serves few big players who can manage and understand the complexity and gain an advantage over other actors with less resources (that'd be most of the rest of society).
- hnews_account_1 4y agoI like your confidence. I happen to agree with the second part while I don’t want to explain the first part. See my other comments for nuance.