4 ms·

Society is propped up by legal decree and violence. CryptoKitties didn't change that.

by boh 4y ago

taolegal 4y ago
> Society is propped up by legal decree and violence and a currency whose value approaches zero as time grows. if bitcoin is bad, how is that much better?
- imtringued 4y ago
  The former is actually being used to run businesses and as long as the currency is not a demurrage currency, you are going to have to accept inflation as the thing that keeps money in circulation.
  - taolegal 4y ago
    > The former is actually being used to run businesses run businesses? to say nothing about whether those businesses are sustainable or actually generating wealth & human prosperity. if you look at all the worst aspects of the economy, they're based in expansionary monetary policy and high time preference > inflation as the thing that keeps money in circulation it keeps people spending money on usually wasteful things and incentivizes the consumption of cheap goods, if you want an economy built on prosperity and enduring goods, you need to actually incentivize saving (not wasteful consumerism)
- enaaem 4y ago
  Btc is only valuable if you can exchange it to fiat, since your liabilities are still in fiat. You need fiat to buy groceries, pay mortgage, buy energy for mining etc…
  - taolegal 4y ago
    > Btc is only valuable if you can exchange it to fiat surely people value things other than paying off liabilities?
- boh 4y ago
  Are you actually using BTC as currency? Have you done anything but traded it? We all know the answer--that's why this meta commentary on money is pointless and pathetic.
  - taolegal 4y ago
    > meta commentary on money is pointless and pathetic why are you getting so defensive about the fact that fiat currency exponentially decreases in value
    - boh 4y ago
      An interesting read of the quoted text since the topic that is supposedly being defended isn't even mentioned. This is an attack on this whimsical philosophizing crypto-boosters use as a defense. No one cares about this "what is money" commentary. If you believe in your moon money so much why not just actually use it as money? Of course you'll have to lose those gainz but real money is just worthless paper right?
      - taolegal 4y ago
        > If you believe in your moon money so much why not just actually use it as money I don't buy stuff with it though it's being used to facilitate transactions for people. I route around $40k a month.

Society is propped up by legal decree and violence. CryptoKitties didn't change that.

by boh 4y ago

Society is propped up by legal decree and violence. CryptoKitties didn't change that.

> Society is propped up by legal decree and violence and a currency whose value approaches zero as time grows. if bitcoin is bad, how is that much better?

imtringued 4y ago
The former is actually being used to run businesses and as long as the currency is not a demurrage currency, you are going to have to accept inflation as the thing that keeps money in circulation.
- taolegal 4y ago
  > The former is actually being used to run businesses run businesses? to say nothing about whether those businesses are sustainable or actually generating wealth & human prosperity. if you look at all the worst aspects of the economy, they're based in expansionary monetary policy and high time preference > inflation as the thing that keeps money in circulation it keeps people spending money on usually wasteful things and incentivizes the consumption of cheap goods, if you want an economy built on prosperity and enduring goods, you need to actually incentivize saving (not wasteful consumerism)
enaaem 4y ago
Btc is only valuable if you can exchange it to fiat, since your liabilities are still in fiat. You need fiat to buy groceries, pay mortgage, buy energy for mining etc…
- taolegal 4y ago
  > Btc is only valuable if you can exchange it to fiat surely people value things other than paying off liabilities?
boh 4y ago
Are you actually using BTC as currency? Have you done anything but traded it? We all know the answer--that's why this meta commentary on money is pointless and pathetic.
- taolegal 4y ago
  > meta commentary on money is pointless and pathetic why are you getting so defensive about the fact that fiat currency exponentially decreases in value
  - boh 4y ago
    An interesting read of the quoted text since the topic that is supposedly being defended isn't even mentioned. This is an attack on this whimsical philosophizing crypto-boosters use as a defense. No one cares about this "what is money" commentary. If you believe in your moon money so much why not just actually use it as money? Of course you'll have to lose those gainz but real money is just worthless paper right?
    - taolegal 4y ago
      > If you believe in your moon money so much why not just actually use it as money I don't buy stuff with it though it's being used to facilitate transactions for people. I route around $40k a month.