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It was about creating a rules based monetary system. It made engineering sense to start with a mimic of a system that was already known to be consistent (gold)

It was about creating a rules based monetary system. It made engineering sense to start with a mimic of a system that was already known to be consistent (gold), but the feeling I got was that it was much more about letting the people choose which rules they wanted to follow, and less about favoring any particular ruleset (i.e. ones that create scarcity).

slopinthebag 4mo ago
By that logic, Musk breaths air which probably eventually mixes with the air you breath, thus there is no escaping him. Come on dude
- __MatrixMan__ 4mo ago
  I don't know what you're talking about. We build society either out of rules or out of threats and favors. Preferring innovation on the rules side has nothing to do with who breathes whose air, unless you want to make a rule about that and enforce it with software--which you probably shouldn't, because it's dumb.
  - slopinthebag 4mo ago
    My comment got attached to the wrong thread…nvrmnd
red-iron-pine 4mo ago
rules based? arguably the entire point is to break the existing rules based, heavily-regulated monetary system. like that was the point, now you're not talking to banks and paying taxes and following regulations; it's why Monero is still a thing
- __MatrixMan__ 4mo ago
  The existing monetary system isn't rules-based, it runs on threats and favors. You can do whatever you want, you just have to worry about the IRS punishing you for it after the fact. Piss off the wrong people and you'll have your accounts frozen. Do favors for the right people and taxpayer money will be diverted to bail you out. Have the wrong kind of business and no bank will touch you. Sure, there are rules written down somewhere, but it's an out-of-band thing to be enforced by whoever cares enough and has a big enough stick. Exceptions will be made to boost or suppress your activity based on whether you're friend or foe to those in certain powerful positions. Like when congress forgave all of the covid loans they had taken out , or when they shut down wikileaks donations, or the bank bailout in 2008 that motivated bitcoin in the first place. There's a bunch of awful stuff in crypto, plenty of cases where hard forks are used to break the rules that are baked into the protocol. But none of that changes the fact that baking the rules into the protocol so they're followed by default is a good idea, and that enforcing them in the ad-hoc way that the traditional system does is incredibly wasteful.

slopinthebag 4mo ago

By that logic, Musk breaths air which probably eventually mixes with the air you breath, thus there is no escaping him. Come on dude

__MatrixMan__ 4mo ago
I don't know what you're talking about. We build society either out of rules or out of threats and favors. Preferring innovation on the rules side has nothing to do with who breathes whose air, unless you want to make a rule about that and enforce it with software--which you probably shouldn't, because it's dumb.
- slopinthebag 4mo ago
  My comment got attached to the wrong thread…nvrmnd

red-iron-pine 4mo ago

rules based? arguably the entire point is to break the existing rules based, heavily-regulated monetary system. like that was the point, now you're not talking to banks and paying taxes and following regulations; it's why Monero is still a thing

__MatrixMan__ 4mo ago
The existing monetary system isn't rules-based, it runs on threats and favors. You can do whatever you want, you just have to worry about the IRS punishing you for it after the fact. Piss off the wrong people and you'll have your accounts frozen. Do favors for the right people and taxpayer money will be diverted to bail you out. Have the wrong kind of business and no bank will touch you. Sure, there are rules written down somewhere, but it's an out-of-band thing to be enforced by whoever cares enough and has a big enough stick. Exceptions will be made to boost or suppress your activity based on whether you're friend or foe to those in certain powerful positions. Like when congress forgave all of the covid loans they had taken out , or when they shut down wikileaks donations, or the bank bailout in 2008 that motivated bitcoin in the first place. There's a bunch of awful stuff in crypto, plenty of cases where hard forks are used to break the rules that are baked into the protocol. But none of that changes the fact that baking the rules into the protocol so they're followed by default is a good idea, and that enforcing them in the ad-hoc way that the traditional system does is incredibly wasteful.