doggosphere

13 ms·

61.
by doggosphere 5y ago
https://en.wikipedia.org/wiki/Wealth_inequality_in_the_Unite... "The bottom half of the income distribution had a huge share of its wealth tied up in real estate while owning essentially no shares of corporate sto
62.
by doggosphere 5y ago
Wealth inequality comes when you can create money out of thin air and buy bonds with it, injecting cash into the financial system. Bond owners get to sell their devaluing assets to the fed at inflated prices. Those profits get put back into
63.
by doggosphere 5y ago
Sure, you’re welcome to believe that. You’re just betting against network effects, betting against metcalfe’s law and generally the digitalization of physical things. This being HN, it’s ironic you would so short sighted take that position.
64.
by doggosphere 5y ago
This is where your lack of knowledge in economics and trade really shows. If the US dollar ends up hyperinflating, assets like gold, bitcoin, stocks, housing, etc. become very, very expensive. They become expensive because everyone seeks to
65.
by doggosphere 5y ago
Yeah, she should kept her savings in Zimbabwe Dollars. Those are only inflating at 500%+ per year.
66.
by doggosphere 5y ago
Yes, the current use case of cryptocurrency is breaking or avoiding the law, it has yet to find a use case outside that. If the law is your baseline standard for what is moral, then you should probably try a little harder and put some tho
67.
by doggosphere 5y ago
Currently national currencies are, on average, far more stable and secure places to hold assets than any cryptocurrency. https://fred.stlouisfed.org/series/M2SL Did you expect 20% of all US dollars would have been cr
68.
by doggosphere 5y ago
That's because you think your currency is secure forever. Ask Argentinians, Turks, Venezuelans, Zimbabweans, etc. what they think about their central banks.
69.
by doggosphere 5y ago
You dont really need to propose that by law, solar is already cheaper. Just remove subsidies from coal, and add carbon tax.
70.
by doggosphere 5y ago
Fiat currencies will still exist. Remember, Bitcoin is a competing asset to fiat, not a wholesale replacement. I suspect that even if central banks adopt Bitcoin as a currency reserve, their fiat will be pegged to it by some ratio only. At
71.
by doggosphere 5y ago
Capture the externalities with a carbon tax. The energy usage will shift to renewable resources.
72.
by doggosphere 5y ago
By "bogus speculative asset", you mean "store of value asset", unless you are also implying that the $10tr gold market, including the gold stored by central banks across the world, are also bogus speculative vehicles.
73.
by doggosphere 5y ago
The government has banned file sharing, marijuana, prostitution, etc., and all those things still occur at billions of dollars of value scale. They occur because those transactions derive value for participating parties. Any nation state th
74.
by doggosphere 5y ago
I'm going to create an address to receive at. Then I'm going to send it to someone else's address. No one can stop either of those interactions.
75.
by doggosphere 5y ago
Having participated in many comment threads about crypto / Bitcoin, HN seems to understand the technology. What HN doesn't really care about is economics, history of money, monetary policy, pros/cons of central banking, etc.
76.
by doggosphere 5y ago
https://www.inflation.eu/en/inflation-rates/turkey/historic-... CPI Turkey 2020 14.60 % CPI Turkey 2019 11.84 % CPI Turkey 2018 20.30 % CPI Turkey 2017 11.92 % CPI Turkey 2016 8.53 % I mean, I hope they'
77.
by doggosphere 5y ago
Feel free to look through my comment history to see some of my arguments against fiat currency and federal reserve. I don’t think you’re familiar enough with the economics, the ideas of hard money/soft money and hyperinflation.
78.
by doggosphere 5y ago
How often do nation states recover from hyperinflation events?
79.
by doggosphere 5y ago
If you think wealth inequality is bad now, the wealth inequality in a hypothetical Bitcoin economy would be orders of magnitude worse. Please explain, is this belief because wealthy people have front run Bitcoin by accumulating it early o
80.
by doggosphere 5y ago
Ironically they risk more by doing nothing.
81.
by doggosphere 5y ago
Does VISA create and secure an asset that is open source, decentralized, censorship resistant, permissionless to participate in? Apples to oranges. VISA can't do those things, it is a centralized settlement layer for US Dollar transact
82.
by doggosphere 5y ago
VISA is a layer 2 solution, it makes no sense to compare it to Bitcoin directly. Compare Bitcoin to the energy usage of federal reserve and resources spent on securing the US Dollar (implicit and explicit), because that's what the Bitc
83.
by doggosphere 5y ago
You can do that with Gold. Yes, we had gold as a monetary standard for quite some time. 1) Currency is not supposed to be a hard store of value. It's there to grease the economy, not for you to hold large quantities. If you want to
84.
by doggosphere 5y ago
Value is created by having an asset that cannot artificially be inflated at will. It is a protocol that is open source, decentralized, permissionless, and censorship resistant. Central banks have monopolized money and obliterated the concep
85.
by doggosphere 5y ago
You can only verify double spends if the integrity of the chain is intact. Since its not a decentralized database, and your service can "go down" at any time and "pop up" with amended transaction history, its just the il
86.
by doggosphere 5y ago
Accountability - I believe users should know when I mint coins. They should also be able to verify that no double spend is possible Your structure isn't a blockchain though. Transaction 0 does not indicate where the original coin val
87.
by doggosphere 5y ago
Why make transactions public if you don't need to? If its centralized people won't trust that you're revealing all information anyways. So you basically just took away user privacy for no good reason?
88.
by doggosphere 6y ago
Was referring to the OP's bet that author was not a woman, perhaps implying that author was insensitive to the suffering of the (mostly) women at risk of vaccine side effects.
89.
by doggosphere 6y ago
Does the presentation of statistics make it feel as if the author is diminishing the suffering of others? Actual question.
90.
by doggosphere 6y ago
Scarcity is about the rate of supply meeting demand. In most commodities, as demand increases, suppliers will move to increase supply to meet that demand. Even with gold (of which the earth has some unknown finite supply), the rate of which

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