anythingdude321

4 ms·

1.
by anythingdude321 5y ago
listen to uncommon core, every episode starting with the first, and you'll have a nice view from the inside. signal-to-noise ratio in crypto is atrocious, high signal sources are alpha
2.
by anythingdude321 5y ago
metallic standards often had debasement (that's why it's called debasement). but also no one is arguing that inflation is a function of ONLY money printing, but no one can argue that money printing is not one of the inputs that de
3.
by anythingdude321 5y ago
nah fam that won't likely be the final topology of the network. you can have oracles all the way down and a slashing risk for those that deviate significantly from the consensus prices and CPI numbers. so you're trusting the econo
4.
by anythingdude321 5y ago
this is a reference to a famous Milton Friedman quote "inflation is always and everywhere a monetary phenomenon" — of course this is a tautology, but he didn't mean the trivial version when he said it, but rather he was makin
5.
by anythingdude321 5y ago
Including the computation and data on-chain enables other parties to use it trustlessly and verifiably. If you, for example, wanted to make an algorithmic central bank that reacted to inflation numbers you would need on-chain CPI in order t
6.
by anythingdude321 6y ago
Don't want to duck your question but: the reason this is hard to get a handle on is that it's really complicated. It's not that the premises and protocols themselves are complicated — sure, they're technically sophistica
7.
by anythingdude321 6y ago
so nice to see the hackernews crowd finally figuring it out! i totally agree with you. i feel that if you keep digging, you'll find yourself convinced over time that BTC's "technical challenges" are not the flaws that th
8.
by anythingdude321 6y ago
There is no alternative for the monetization of an asset. Gold was the same. Some people believed in it, many didn't, and as it monetized over time those that believed in it early benefited most. The same is the case with anything valu
9.
by anythingdude321 6y ago
yes but that is a use. bitcoin is useful as a savings technology. that is how monetary technology should work, especially at first
10.
by anythingdude321 6y ago
if you leverage your risk for a higher return you _also_ increase your risk
11.
by anythingdude321 6y ago
economic majority for the USD is the Federal Reserve Board
12.
by anythingdude321 6y ago
yes but the beauty is that, due to the lack of a central authority, the game theory of the situation virtually ensures that no one would ever do that — that is, take bitcoin2 seriously
13.
by anythingdude321 6y ago
that...doesn't make any sense. return 50x is returning 50x. many people would be thrilled to have 50-100k. It means a better house, maybe better schools, better food, better life. and that's just in America! Envy is the thief of j
14.
by anythingdude321 6y ago
the return on holding is not risk free. in the absence of progress money will be inflationary as there are more people competing for fewer goods. there's no free lunch
15.
by anythingdude321 6y ago
Tether has accounting problems and remains a systemic risk. But this is mitigated by several factors. First, they are semi-audited and most educated guesses suggest they are collateralized one-to-one with $ at 70% or more. Second, tethers h
16.
by anythingdude321 6y ago
Run for office? I prefer the trim tab approach: https://en.wikipedia.org/wiki/Trim_tab#Trim_tab_as_a_metapho... If Bitcoiners are right, Satoshi has been the trim tab of the century thus far. Time will tell :)
17.
by anythingdude321 6y ago
this has been discussed to death. ultimately Nic Carter's piece settles it i think: https://www.coindesk.com/the-last-word-on-bitcoins-energy-co... "Ultimately it’s just a matter of opinion as to whether the exist
18.
by anythingdude321 6y ago
there are many problems better solved by bitcoin than classical solutions. one example is as a bank account in a low trust society with high inflation (there are many such countries). creating a bitcoin wallet is extraordinarily easy and on
19.
by anythingdude321 6y ago
aahhh just another one of Ramanujan's random identities that he divined from the minds of the gods. reading these has been a reliable way for mathematicians to humble themselves since 1900. he often wouldn't (or wasn't able t
20.
by anythingdude321 6y ago
because it was first and has proven itself to be both immutable and highly secure. this leads to network effects. and money is the ultimate network effect. people want money because they know others want money and will therefore accept it i
21.
by anythingdude321 6y ago
software people in stable states have had a hard time understanding why bitcoin could be valuable. consider that the dollar may not be desirable for such transactions in the future if its basis is unstable (not uncommon in many countries ar