dnprock

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91.
by dnprock 6y ago
dogecoin has a constant tail emission. It'll eventually shrink relative to the circulating supply. I'm doing a coin with a constant 7% inflation rate.
92.
by dnprock 6y ago
In the long-term, you don't want to hold this coin. It's meant to be a Medium of Exchange. Its value decreases over time. But in the short-term, you can speculate on its adoption. With Bitcoin, people speculate on a Store of Value
93.
by dnprock 6y ago
The difference is the supply inflates exactly at 7% per year. Nobody can change its issuance rate. It's a fair game for everyone. I design a reward schedule that benefits early adopters: 0: 50 1: 25 2: 12.5 3: 6.25 (end of halving) 4:
94.
by dnprock 6y ago
I'm experimenting with a new type of currency: an inflating supply crypto. The supply inflation is 7% per year. When new money is issued, everyone has equal access to purchase the coins. Inflation also discourages hoarding behaviors th
95.
by dnprock 6y ago
Gresham's Law is frequently misunderstood. It's not accurate to say that "bad" drives out "good" in a literal sense. It's more like "less desirable" driving "more desirable" out of circ
96.
by dnprock 6y ago
I think the world is heading into a deflationary crisis. We're just starting. Corporations seem to think they are immune. Governments cannot do much to stem this crisis. People should be ready to brace for more shocks. When we reopen,
97.
by dnprock 6y ago
Thanks for sharing. Here's my experience. I went through a similar process with Bank of America. I submitted my application on Friday when it opened. Then documents. A few days later, I got a call from a Bank of America representative.
98.
by dnprock 6y ago
This story is sad and tragic. It reminds me that whenever someone comes hard at you, they probably need more help than you do. Best of luck to Lee and his family.
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by dnprock 6y ago
Author here. The Coronavirus impact on the economy is a surprise for me. Hence I view it as a Black Swan. Taleb calls it a White Swan. Maybe, he foresees it. The definition depends on the observer.
100.
The Coronavirus and a Deflationary Crisis(bitflate.org)
13 points by dnprock 6y ago|7 comments
101.
by dnprock 7y ago
I call this, Developer Inertia: It's hard to learn others' code, but it's easy to fix to bugs in others' code. It's easy to write your code, but it's hard to fix bugs in your code. It's good to have someon
102.
by dnprock 7y ago
I have a different theory for the silver drop. The gold value has not gone up significantly. So this ratio drop is caused by a drop in the silver price. People are fleeing to cash now. They still value gold and keep it. But the impact on si
103.
by dnprock 7y ago
In system design, there are tradeoffs. You can't automagically get everything you want. For example, regarding the block size, you can increase the block size to scale transactions or you can do L2 off-chain. Each comes with its own pr
104.
by dnprock 7y ago
There's an emerging field of Computer Science as Economics Discipline. That's the field of cryptocurrency. It is currently plagued with (pseudo) economists and scammers. Or people don't really understand system design (but th
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The Problem with DAI(bitflate.org)
1 points by dnprock 7y ago|0 comments
106.
by dnprock 7y ago
When you are involved long enough with crypto, you'll see a lot of stupid ideas. DAI is one of them. For those who don't have time to get into the weeds, DAI is a "digital native" stable coin. It wants to create a 1-1 pe
107.
by dnprock 7y ago
We have not seen inflation. But we're seeing slow growth and negative interest rate. These are signs of diminishing returns. The market has lost its check-and-balance. Bond and lending were supposed to carry risk and skin in the game.
108.
by dnprock 7y ago
It's useful to read the history of the stock market prior to WW2. It was a casino back then. Our experience post WW2 probably creates a bias. We're used to the stock market stability. But it has some serious structural problem now
109.
by dnprock 7y ago
I think the dynamic of the US equity market has changed. In the old days, you can balance your portfolio between stock and bond. This is portfolio advice from Benjamin Graham's The Intelligent Investor. We can no longer do this because
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by dnprock 7y ago
I used to subscribe to these investment talking points and believed in the US equity market. I adopted these attitudes from reading Warren Buffett, index fund, financial advice. These are sound principles. I occasionally revisit value inves
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by dnprock 7y ago
I worked for a p2p startup 15 years ago. We were exploring ideas and products in this space. We came close to partnering with a company doing distributed cloud storage. Their idea was to allow people to rent storage space in personal comput
112.
by dnprock 7y ago
I think I know how to fix food waste :): Everyone learns to cook and eat their own food. We decentralize the food system. It's disturbing that we come to rely on other people's cooking our food. When I buy and cook my own food, I
113.
by dnprock 7y ago
I was in Vietnam and saw the effect of climate change. People (millions) are moving from the Mekong Delta to Ho Chi Minh City. The Delta is being invaded by saltwater. Agriculture is heavily impacted. The city is crowded and polluted. My vi
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by dnprock 7y ago
The relationship between monies and goods has been murky. But it's kinda cool to cut a clear line to say that bartering economy exists before money. But I think they always co-exist. This relationship is more like chicken and egg. I di
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by dnprock 7y ago
I have a different view of the 2020s. We don't need more tokens or programmable technology. Money is the dominant use case for crypto. We still haven't figured out how to make crypto money that people can use beyond speculation. N
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by dnprock 7y ago
I think we mistake these ideas as being bad business because of our expectations. Some ideas take longer to produce returns. I'm currently working on an idea that has no business plan in the near future. It's a cryptocurrency. I h
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by dnprock 7y ago
@jack's idea probably involves some kind of cryptocurrency integration into the protocol. I think having a digital native currency can alter the economics of protocols. The end result may be some combination of ActivityPub and an econo
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by dnprock 7y ago
I feel like Paul Graham is unlearning his own experience. Maybe, he's at the top of the game and tries to figure out why it's messed up. Life is full of hacks. People hack stuff: school, test, career. The site we're on now ca
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Bitcoin Will Not Be a Medium of Exchange(medium.com)
2 points by dnprock 7y ago|0 comments
120.
by dnprock 7y ago
The author of this article does not understand math :). Learning math is difficult. There're two things you need to learn: fundamental concepts and skills. These two things are related and commingled. Mastering both requires extraordin

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