chowchowchow

8 ms·

31.
by chowchowchow 2y ago
The problem is a currency which is also considered a precious good. It’s like using diamonds as the medium of exchange. Gold is far from the most valuable commodity, and silver even less so. So I think it means we should use some other cryp
32.
by chowchowchow 2y ago
I don’t know that’s what I’m asking! Should you only spend your money in life or death situations in a btc economy?
33.
by chowchowchow 2y ago
What do you call someone who bought a pizza with BTC last year? Paper hands? Shouldn’t they have hodled and not had pizza? How can this be a currency.
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by chowchowchow 2y ago
are you serious? https://www.fox5dc.com/news/trump-blames-dei-dc-plane-crash
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by chowchowchow 2y ago
Heh. I think it’s more likely most people saying that don’t really know what it’d entail. For instance without our current banking and financial system you’d have to pay banks to look after your money, if all they were allowed to do with it
36.
by chowchowchow 2y ago
Ahh, “end the fed” doesn’t mean end the fed, OK. Because if you did end the fed, you’d have unregulated banking and maybe a return to wildcat banking which um, would probably not be better for your long term finances. A quick perusal of Wik
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by chowchowchow 2y ago
What do you mean "necessary?" It's a function of demand, they only write the loans for borrowers who want and qualify for them. It's not pedantry. It's understanding the model of attribution which blames the "f
38.
by chowchowchow 2y ago
It’s not really the fed printing money though is it. It’s private banks meeting demand for loans.
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by chowchowchow 2y ago
Isn’t it nearly entirely the commercial banks “printing” money by fractional-reserve lending? Low interest rates mean more, bigger loans from banks, ergo more money out there.
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by chowchowchow 2y ago
Beg the question that a purpose can’t involve chores or unpleasantries much?
41.
by chowchowchow 2y ago
The Flickr acquisition didn’t make anyone close to a billionaire, the whole deal was for $25 million.
42.
by chowchowchow 2y ago
I think it is necessary to say that if you want to make a meaningful critique since otherwise you can simply point out differences in any two articles and call that bias.
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by chowchowchow 2y ago
Very peculiar examples. Do you object to the section about the harassment of Lorenz or the absence of a section on harassment for Christopher Rufo?
44.
by chowchowchow 2y ago
how credulous of you.
45.
by chowchowchow 2y ago
No, not to a person. There can be some stupendously dumb billionaires, especially since inheritance is a thing. I would however expect the average intelligence however-measured of the 100 richest "self-made" (lets just say who did
46.
by chowchowchow 2y ago
it scales with a factor of less than 1.0 but yes it scales. For instance the number of thieves could be given by the ratio .001 * population.
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by chowchowchow 3y ago
Taxes seem like one possibility for this to be taken advantage of. Invest $X, get $Y kicked back, but calculate losses or gains against the higher $X basis.
48.
by chowchowchow 3y ago
Oh. I meant which slice of the fixed money pie is invested into this. How do you incentivize the risk-taking if capital is so expensive.
49.
by chowchowchow 3y ago
It does create a misrepresentation of the valuation as AWS is able to represent the investment as the retail price ($2.7B) while actually they're only parting with the COGS for the AWS services (<$2.7B).
50.
by chowchowchow 3y ago
Of course. I didn't say AWS credits were cost-free to Amazon.
51.
by chowchowchow 3y ago
In other words Amazon gives Anthropic 2.7B of AWS credits!
52.
by chowchowchow 3y ago
> They are not treating Bitcoin as money. Indeed. So will Bitcoin become relevant to this discussion in 2140 when new issuance ends? I’m not sure there’s much difference between then and now in practice as 95% it all Bitcoin possible i
53.
by chowchowchow 3y ago
The 1800s USA also saw the gold rush and the comstock lode. So it seems even then many were incentivized into activities which created more money.
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by chowchowchow 3y ago
> Economic growth means producing more goods and services. How do you incentivize this? Your view seems fairly communist. Also how does a net new innovation factor into this framework. New pharmaceuticals for previously untreatable dis
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by chowchowchow 3y ago
There’s no natural state of money is there? I feel like characterizing monetary policy that way, as manipulative, is normative and kinda begs the question that there’s a natural state of monetary policy. How could there be growth in the eco
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by chowchowchow 3y ago
I'm not sure it's a meaningful question... for $1600 I can get an iPhone which is more capable than anything you could buy for any price in 1991. Is the argument that this means there's been deflation? To me its a category di
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by chowchowchow 3y ago
As was noted above. If your claims are true, then inflation was 800% in the 2000s and then 0% in the 2010s. There's clearly market supply/demand driving changes in gold price, not simply exchange rate fluctuation.
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by chowchowchow 3y ago
.085%. 1% of 10T is 100B. Big numbers are big.
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by chowchowchow 3y ago
Wow.
60.
by chowchowchow 3y ago
Yes a certain set of people do seem to be obsessed. And when you point that out their response is “no you’re obsessed!” No hints of irony or self awareness detected.

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