MrMan

96 ms·

901.
by MrMan 6y ago
But the people who run the euro zone and the dollar zone have it setup for (they hope) constant mild inflation. This incentivizes a search for productive investments like ycombinator instead of hoarding treasure, which is not a productive i
902.
by MrMan 6y ago
Let’s talk larger game - assume the btc-denominated economic zone becomes non-negligible in size. The best defense for neighboring economic zones is good fiscal governance. Because BTC land will be an anarchic mess. It will have multiple ge
903.
by MrMan 6y ago
The globe has a few supranational currencies already we have some experience in this
904.
by MrMan 6y ago
Switching from one currency you can’t control to another doesn’t sound good
905.
by MrMan 6y ago
This is why I called Bitcoin “naive and antisocial”. I perceive a long-standing willingness on the part of crypto proponents to willfully ignore why monetary policy exists and how it is tied to society’s needs. Self-governance cannot be cas
906.
by MrMan 6y ago
I think bitcoin is evil and have from the start. A unit of exchange cannot replace any significant fraction of the financial system, it is crazy to suggest this. The energy use required to run bitcoin is first reason I consider it bad. The
907.
by MrMan 6y ago
I have done both and I truly feel Sim racing is better. Orders of magnitudes cheaper and safer. The only thing I miss is the smells and the red state friendship bonding in the paddock. I don't miss the close relationship with my mechan
908.
by MrMan 6y ago
corpo mercs are greedy opportunists HN is full of them pretending to be hackers, and who play upon hackers' collective sense of self to peddle investment schemes
909.
by MrMan 6y ago
"Bitcoin governance is performed through mining pools signaling their opinion on proposals" yes this is a regression from representative government - a corporate cartel controlling monetary policy
910.
by MrMan 6y ago
tesla doesnt need to hold sizable BTC reserves to accept BTC as payment, so using the word hedge there doesn't seem correct to me. please elaborate on your stratement, it doesnt make sense that this BTC position is a hedge. it seems li
911.
by MrMan 6y ago
this is not a leading question. what do you see as wrong with the banking system? It has taken 600 years to evolve, roughly. what does the next banking system look like? and do you really mean monetary system? people are constantly conflati
912.
by MrMan 6y ago
Can I get paid in dollars for spare storage?
913.
by MrMan 6y ago
If everyone switched to BTC employment in the financial sector would not shrink. Are you saying it would? I can put a bundle of dollars in the mail but even if that was free, it is still risky. My understanding is that I pay my bank to hold
914.
by MrMan 6y ago
But is maybe the only inflation story anyone can come up with? Venezuela is misgoverned, but how do I know bitcoin governance is better? Bitcoin exchange rates are not stable. I can only hoard it, it's not an investment and not a curre
915.
by MrMan 6y ago
The intention of cash management is hedging to facilitate commerce and protect the balance sheet, not speculation.
916.
by MrMan 6y ago
I think smart contracts with dollars would be just as good
917.
by MrMan 6y ago
Bitcoin is a leaf node in the network, like "dollar". Bank account is at a higher level. A bank is a business that provides lending ,transfer, and custody services, the currency can be anything, including bitcoin.
918.
by MrMan 6y ago
I don't want to rely on a currency which is managed and beholden to an unelected cartel of corporations. I prefer representative government by elected officials.
919.
by MrMan 6y ago
I want more trust not less
920.
by MrMan 6y ago
it is worse than the HFT hysteria ten years ago
921.
by MrMan 6y ago
in free market economies people can lend each other ownership shares in public companies
922.
by MrMan 6y ago
Robin Hood in my opinion is constrained by their previous marketing. There message to prospective users is at odds with reality. At some point this had to catch up with them. Stop worrying about this one crappy broker.
923.
by MrMan 6y ago
Just use a broker like fidelity who is not similarly conflicted.
924.
by MrMan 6y ago
Hedge funds tend not to use shady brokers who don't have strong balance sheets and competent risk managers and technologists. The list of better brokers is long.
925.
by MrMan 6y ago
Yes RH is terrible.
926.
by MrMan 6y ago
It's not my job to teach everyone about trading operations. I am alarmed at the prevalence of anger founded on willful ignorance, on this site. I don't have an obligation to refute every dumb angry post tit for tat. I am not even
927.
by MrMan 6y ago
Or breaks due to executions that are nonconforming
928.
by MrMan 6y ago
I think it is legacy thinking more than systems. If we wanted to we could have a system more like European one, but for whatever reasons we don't care enough. The behavioral side of this is far more interesting than the superficial tec
929.
by MrMan 6y ago
The reasons are a combination of human factors. Technologically it is possible for atomic transactions to be completed far earlier, but commerce is a web of interactions between mostly real humans.
930.
by MrMan 6y ago
Don't get confused - other markets have end of day settlement, stocks are a different animal but its not because humans in NYC aren't familiar with databases and transaction processing.

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