3 ms·

I'm a tech guy, also trade, also teeter on end the fed vibes There is value in being able to anonymously and stably transfer value uncensored. But which state

I'm a tech guy, also trade, also teeter on end the fed vibes There is value in being able to anonymously and stably transfer value uncensored. But which state will stand aside while you realize this dream? Not a one.

bluepizza 4y ago
> There is value in being able to anonymously and stably transfer value uncensored. You mean when someone hands somebody else a 20?
- isthisthingon99 4y ago
  I mean 50K from USA to Europe.
  - bluepizza 4y ago
    A briefcase then.
    - isthisthingon99 4y ago
      Anonymous, fail https://www.cbp.gov/travel/international-visitors/kbyg/money https://www.cbp.gov/travel/international-visitors/kbyg/money
      - bluepizza 4y ago
        It's illegal to do it via crypto too. If you are willing to break the law to do it via crypto, you are willing to break the law and smuggle it too.
        isthisthingon99 4y ago
        The law isn't the arbiter of what is moral. History shows that countries enact capital controls. Morally, if I decide this is going against the contract with me and my country, I may choose to "break laws" in order to leave.
shapefrog 4y ago
> There is value in being able to anonymously and stably transfer value uncensored. Let me know when this comes into existence, because it might be interesting.
- isthisthingon99 4y ago
  It exists, Monero. But it isn't necessarily a stable value, though I think it will hit a stable value at some point. For some reason, I can't post so here is my reply to the guy below me: Current XMRUSD volatility is ~40% Current USDJPY volatility is ~38% I believe in due time, when the pump and dumpers are gone, it will become as stable as normal currency pairs.
  - shapefrog 4y ago
    It exists, but it doesnt exist yet. I AM A billionaire! Well not necessarily yet, I only have 4 dollars and 53 cents, though I think it will hit that net worth level at some point in the future.
    - trillic 4y ago
      If you create your own cryptocurrency, give yourself a billion tokens and value it at $1/token you too can be a billionaire just like SBF
  - shapefrog 4y ago
    Current the volatility of XMR-USD is currently 38.70% the volatility of USD-JPY is currently 11.99% Max Drawdown - XMR-USD -92.96% USD-JPY -20.48% https://portfolioslab.com/tools/stock-comparison/XMR-USD/JPY=X https://portfolioslab.com/tools/stock-comparison/XMR-USD/JPY...
    - isthisthingon99 4y ago
      Still the trend is less volatility not more. It will get there! I was looking at monthly volatility for jpy. 3x the daily vol isn't bad at all. Great link BTW.
mjburgess 4y ago
A world without political control on the money supply is a vastly inferior one to either (1) no control; (2) automated control; or (3) control by gold miners. (1) leads to great depressions (mass poverty, famine, etc.); (2) leads to feudalism; and (3) to colonialism, war and poverty. Political control over the money supply is one of the most stabilising, peaceful and moral inventions of the 20th century. For human history the poor have been destroyed by deflationary currency which was always better to bury than invest (see, for example, Jesus' story of the talents (coins) where he recommends burying rather than investing -- incomprehensible today, but sane with metal currency). The trans-A slave trade was a more-or-less direct result of the massive inflation of the discovery of gold in the americas which made labour impossible to pay. People discovering rocks in the ground is no basis on which to design a world-wide political system; and the origin of a vast amount of evil. Comparatively, central banks targeting 2% inflation is an unalloyed good.
- isthisthingon99 4y ago
  By automated control leading to feudalism, I presume you mean deflation leads to feudalism? I'm a fan of automated control, but with an algorithmically set inflation rate, I don't see why it would lead to feudalism.
  - mjburgess 4y ago
    No one controls inflation, the only variable under control is the cost for a bank to receive money from a central bank (an interest rate). Any value of an interest rate is a political tradeoff: a low rate favours spending, a high rate favours saving. So a low rate promotes expansion and an excess of cash in the system; a high rate promotes contraction and a relative deficit of cash. No value for an interest rate is "correct", it is an ethical decision. And the effect of a given rate will depend on economic variables that are basically unmeasurable (eg., aggregate preference for future consumption at a given rate) and have to be determined by best-guess expert judgement. What would an algorithm do? Who would create it? Who do you think would create it? My view is that replacing any aspect of politics (, law, etc.) with "algorithms" has a pretty clear line to feudalism or similar. Political judgement should never be naively deterministic in a chaotic, unmeasurable and unmeasured world. A deterministic "politics" makes its power structure eternal and immutable. Do we change the alg when the world changes? No, that's just status quo. We mean an alg that never changes regardless of the change to the world. It's mad.
theCrowing 4y ago
Crypto is a cruel joke played on the poor and middle class.

bluepizza 4y ago

> There is value in being able to anonymously and stably transfer value uncensored. You mean when someone hands somebody else a 20?

isthisthingon99 4y ago
I mean 50K from USA to Europe.
- bluepizza 4y ago
  A briefcase then.
  - isthisthingon99 4y ago
    Anonymous, fail https://www.cbp.gov/travel/international-visitors/kbyg/money https://www.cbp.gov/travel/international-visitors/kbyg/money
    - bluepizza 4y ago
      It's illegal to do it via crypto too. If you are willing to break the law to do it via crypto, you are willing to break the law and smuggle it too.
      - isthisthingon99 4y ago
        The law isn't the arbiter of what is moral. History shows that countries enact capital controls. Morally, if I decide this is going against the contract with me and my country, I may choose to "break laws" in order to leave.

shapefrog 4y ago

> There is value in being able to anonymously and stably transfer value uncensored. Let me know when this comes into existence, because it might be interesting.

isthisthingon99 4y ago
It exists, Monero. But it isn't necessarily a stable value, though I think it will hit a stable value at some point. For some reason, I can't post so here is my reply to the guy below me: Current XMRUSD volatility is ~40% Current USDJPY volatility is ~38% I believe in due time, when the pump and dumpers are gone, it will become as stable as normal currency pairs.
- shapefrog 4y ago
  It exists, but it doesnt exist yet. I AM A billionaire! Well not necessarily yet, I only have 4 dollars and 53 cents, though I think it will hit that net worth level at some point in the future.
  - trillic 4y ago
    If you create your own cryptocurrency, give yourself a billion tokens and value it at $1/token you too can be a billionaire just like SBF
- shapefrog 4y ago
  Current the volatility of XMR-USD is currently 38.70% the volatility of USD-JPY is currently 11.99% Max Drawdown - XMR-USD -92.96% USD-JPY -20.48% https://portfolioslab.com/tools/stock-comparison/XMR-USD/JPY=X https://portfolioslab.com/tools/stock-comparison/XMR-USD/JPY...
  - isthisthingon99 4y ago
    Still the trend is less volatility not more. It will get there! I was looking at monthly volatility for jpy. 3x the daily vol isn't bad at all. Great link BTW.

mjburgess 4y ago

A world without political control on the money supply is a vastly inferior one to either (1) no control; (2) automated control; or (3) control by gold miners. (1) leads to great depressions (mass poverty, famine, etc.); (2) leads to feudalism; and (3) to colonialism, war and poverty. Political control over the money supply is one of the most stabilising, peaceful and moral inventions of the 20th century. For human history the poor have been destroyed by deflationary currency which was always better to bury than invest (see, for example, Jesus' story of the talents (coins) where he recommends burying rather than investing -- incomprehensible today, but sane with metal currency). The trans-A slave trade was a more-or-less direct result of the massive inflation of the discovery of gold in the americas which made labour impossible to pay. People discovering rocks in the ground is no basis on which to design a world-wide political system; and the origin of a vast amount of evil. Comparatively, central banks targeting 2% inflation is an unalloyed good.

isthisthingon99 4y ago
By automated control leading to feudalism, I presume you mean deflation leads to feudalism? I'm a fan of automated control, but with an algorithmically set inflation rate, I don't see why it would lead to feudalism.
- mjburgess 4y ago
  No one controls inflation, the only variable under control is the cost for a bank to receive money from a central bank (an interest rate). Any value of an interest rate is a political tradeoff: a low rate favours spending, a high rate favours saving. So a low rate promotes expansion and an excess of cash in the system; a high rate promotes contraction and a relative deficit of cash. No value for an interest rate is "correct", it is an ethical decision. And the effect of a given rate will depend on economic variables that are basically unmeasurable (eg., aggregate preference for future consumption at a given rate) and have to be determined by best-guess expert judgement. What would an algorithm do? Who would create it? Who do you think would create it? My view is that replacing any aspect of politics (, law, etc.) with "algorithms" has a pretty clear line to feudalism or similar. Political judgement should never be naively deterministic in a chaotic, unmeasurable and unmeasured world. A deterministic "politics" makes its power structure eternal and immutable. Do we change the alg when the world changes? No, that's just status quo. We mean an alg that never changes regardless of the change to the world. It's mad.

theCrowing 4y ago

Crypto is a cruel joke played on the poor and middle class.