lottin

39 ms·

481.
by lottin 4y ago
Sending money is not speech.
482.
by lottin 4y ago
We place trust in the courts of justice so we don't have trust every single party that we interact with. If the courts of justice or the government at large cannot be trusted, then society cannot function, and no amount of cryptograph
483.
by lottin 4y ago
Crypto-currencies have no underlying. A crypto-currency is like a bunch of imaginary confetti. Why is every crypto organisation is issuing its own brand of confetti? It's a legitimate question. It's exactly the same confetti.
484.
by lottin 4y ago
A statistic is only useful if you know how to interpret it. Case in point: you can have double digit year-over-year inflation, while simultaneously falling prices for the last 11 months.
485.
by lottin 4y ago
Inflation is the change in the price level. The price level is not observable, so it needs to be estimated somehow. Inferring it from the prices "people care about" is ABSOLUTELY WRONG methodologically speaking.
486.
by lottin 4y ago
Year-over-year inflation doesn't tell us anything about whether prices are going up or down right now .
487.
by lottin 4y ago
Counter-party risk is what makes lending useful. The lender gives up control of the resources so that the borrower can use them. This is where the risk arises from. Defi has invented a new form of lending, without counter-party risk. It
488.
by lottin 4y ago
Do these trades involve synthetic USD crypto-coins that are issued by some central party (so 100% not decentralised)?
489.
by lottin 4y ago
The insurer is a corporation with its own financial statements, so it's pretty easy to see if it's operating at a loss (and thus subsidising the banking industry) or at a profit (not subsidising it). I guess you didn't know
490.
by lottin 4y ago
So you're making this numbers up? If banks are being undercharged, the insurer will be incurring losses. It's as simple as that.
491.
by lottin 4y ago
Agreed, but in this case these tokens have suddenly become 'illiquid' because they have just become worthless. It seems that here the term 'illiquid' is being used as a euphemism.
492.
by lottin 4y ago
What is the 'actuarial value' of the risk a bank takes on?
493.
by lottin 4y ago
What do you mean illiquid? Worthless?
494.
by lottin 4y ago
I find TikZ quite amazing. You make a picture by describing a picture. It's completely unlike anything else.
495.
by lottin 4y ago
No-fly lists don't require instant payments, so I don't know what point it is you're trying to make.
496.
by lottin 4y ago
Why do they provide it then? Out of goodwill?
497.
by lottin 4y ago
The original bitcoin software ran on Windows if I'm not mistaken, so I don't know about "mostly Linux users". Maybe it was different in the US. In Europe I get the impression the FOSS community is predominantly left-lea
498.
by lottin 4y ago
There are unwritten rules in society. If you don't understand that you'll have a hard time getting anywhere in life.
499.
by lottin 4y ago
I don't know if Linux users had (have?) much sympathy for bitcoin.
500.
by lottin 4y ago
I see... yes I think such a mechanism could be used to finance the purchase of an NFT. So, I'll admit that I was wrong. You can do financing with a smart contract, although from what I gather you'd be limited to buying NFTs. No
501.
by lottin 4y ago
You make an NFT, and then you get a loan that you use to purchase the NFT, and if you don't repay the loan the owner gets to keep the NFT? It seems that you're financing the purchase of something you already owned. And of course
502.
by lottin 4y ago
The reason the collateral needs to be deposited with a smart contract is because the collateral assets are unseizable. But that defeats the purpose... Imagine you want to make purchase, but you don't have the funds. You have two opti
503.
by lottin 4y ago
Financing is the advancement of funds in exchange for a promise that those funds will be repaid later. For this to work the borrower must own assets that can be seized in the event of default. Since blockchain-based assets cannot be seize
504.
by lottin 4y ago
This was bound to happen the moment they decided to use a public ledger system to make transactions.
505.
by lottin 4y ago
Financing requires seizable assets, which means it's unimplementable using blackchain-based digital assets and smart contracts.
506.
by lottin 4y ago
Another common factor in all cases of inflation was the moon orbiting the Earth, so clearly the moon is causing inflation.
507.
by lottin 4y ago
Yeah, which is baffling. It's not possible to invest in decreasing your foreign currency price. Price is an exogenous variable in a competitive market. You can invest in the production process so that production becomes more cost-ef
508.
by lottin 4y ago
Your analysis is incorrect. Markup is a function of market power. If market power remains the same, an increase in markup cannot last for long. Competition will drive prices down until markup goes back to its previous level. Therefore t
509.
by lottin 4y ago
Do you read your own quotes? Where does it support your claim that a weakened currency does not affect the price of exports? It says the exact opposite. Exports increase because they become less expensive: > A weak currency may help a c
510.
by lottin 4y ago
So how does a cheap currency benefit Germany according to this theory? Another thing is that if production costs go down (although you don't say why they're going down, it seems a random assumption on your part), then competition

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