lottin

53 ms·

721.
by lottin 4y ago
Not entirely. Central banks try to ensure price stability via monetary policy.
722.
by lottin 4y ago
Well, if you have a theory of prices that only applies to one good and fails when applied to any other good, it means your theory is rubbish. This is why we must check whether the proposed theory works when applied to goods other than bitc
723.
by lottin 4y ago
And...? The fact that your consumer habits are not reflected with 100% accuracy doesn't mean the basket is not representative of the average consumer. Again, feel free to come up with a better basket and explain why yours is better th
724.
by lottin 4y ago
> The reduction in friction is immense---if you're operating in Bitcoin This "friction" is 100% intentional. We don't want free flow of capitals across countries, just like we don't want free flow of people. If
725.
by lottin 4y ago
Real assets typically have a use value and an exchange value. Even if you can't sell such an asset (meaning it has no exchange value), you can still profit from it by using or consuming it (it does have use value). Fiat money, includ
726.
by lottin 4y ago
Feel free to show us the real inflation numbers.
727.
by lottin 4y ago
It's a good analogy. Price is a function of supply and demand. I don't understand why bitcoiners struggle so much with price theory.
728.
by lottin 4y ago
Recession means absence of economic growth.
729.
by lottin 4y ago
Not to mention that many of these supposed victims are arrogant assholes, whom I and others tried to warn in every possible way and we only got mockery and disdain in return.
730.
by lottin 4y ago
So why did your country take the loan if it was so terrible?
731.
by lottin 4y ago
Notice that the same government that apparently can't be trusted to manage a currency is also in charge of the police and the military. So the government can't be trusted when it comes to currency, but it can be trusted with admi
732.
by lottin 4y ago
If they're earning interest, it means they have swapped their dollars for some interest-bearing instrument, so they no longer have 1:1 dollar reserves.
733.
by lottin 4y ago
> Anchor yields are generated from stake rewards of other tokens Turtles all the way down.
734.
by lottin 4y ago
I didn't say that it has no use. I was pointing out that blockchains do not allow "borrowing / lending money to other people without the parties having to trust each other or having to wait for a slow and expensive legal&q
735.
by lottin 4y ago
I never said that it was useless. I said that this isn't borrowing and lending. Borrowing and lending is the primary and most important function of finance. It allows economic agents to trade future consumption for present consumptio
736.
by lottin 4y ago
If you have to pledge enough collateral to cover the entirety of the principal, your net investment position is either zero or positive. In other words, you're not borrowing anything.
737.
by lottin 4y ago
None of these explain how unsecured lending works. Goldfinch says that "borrowers are required to pledge real-world assets as collateral" and in the event of default the pledged collateral is liquidated. [1] So that's not u
738.
by lottin 4y ago
Lending requires the ability to seize assets, and the ability to seize assets requires a legal system. There's no way around it. Without this lending can't work, because otherwise the borrower can just walk away with the money.
739.
by lottin 4y ago
You can read the comments on Slashdot from 10 years ago, and you'll find the same scepticism. So it's not an accident. HN's audience is probably better educated than average, and the better educated a demographic group is,
740.
by lottin 4y ago
Exactly. I don't know why anyone would hope to not be sceptical about anything. The opposite of sceptical is gullible. You should strive to be sceptical.
741.
by lottin 4y ago
Since the mid-2000s house prices have risen less , on average, than disposable income in the US. https://twitter.com/MPelletierCIO/status/1522704947556483073...
742.
by lottin 5y ago
> The announcements have to live somewhere As opposed to living nowhere?
743.
by lottin 5y ago
Bitcoin doesn't make state violence any less necessary. How do you expect to enforce laws without state violence?
744.
by lottin 5y ago
I don't know about "failed"... if you use a different identity for each different site it seems that your identity is pretty decentralised.
745.
by lottin 5y ago
What if everyone agreed that pigs fly? They still wouldn't fly. Just because you repeat like a parrot what the bitcoin influencers tell you, it doesn't mean it's true.
746.
by lottin 5y ago
Property rights are legal claims that are independent of possession. If I lend you my car, you don't become the owner of the car. Being in possession of the car keys doesn't make you the owner either. If it would, it would mean
747.
by lottin 5y ago
Okay... the thing is that you can't give the state the ability to enforce property rights and simultaneously not give the state the ability to confiscate assets arbitrarily, because it's the same ability in both instances. If you
748.
by lottin 5y ago
If the state can seize the thief's assets, it can also seize anybody else's assets. There's no way around it. And there's no trade-off. What are you talking about? Either the government can seize the assets or it can
749.
by lottin 5y ago
You have not explained how the state enforces property rights on a blockchain. Consider this scenario: you forget your keys at a restaurant, where a stranger finds them and uses them to transfer your funds to their address. Since the tr
750.
by lottin 5y ago
> So to put it another way, trusted third parties can also be a threat to private property. Of course, a corrupt government is a threat to private property, but it's also true that a non-corrupt government (or some other form of aut

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