lottin

61 ms·

781.
by lottin 5y ago
No, it's a deposit which you can withdraw at any time. Although some people argue that a bank deposit is technically a loan—from a legal perspective they might be characterised as a loan in some jurisdictions, from an economic perspect
782.
by lottin 5y ago
No, debts are a different type of asset. Eurodollars are currency, i.e. cash and bank deposits.
783.
by lottin 5y ago
I don't think it matters. Deposit insurance is independent from the ability to print dollars. It's an insurance fund that gets contributions from banks.
784.
by lottin 5y ago
> Mmt has the best description of how fiat money works. Are you sure about that? As far as I know, MMT is considered an "unorthodox" theory (i.e. crackpot theory) by mainstream economists. https://en.wikipedia.org&#
785.
by lottin 5y ago
Eurodollars are dollars held in non-US banks, which are nonetheless banks and therefore subject to the banking regulations of their respective jurisdictions.
786.
by lottin 5y ago
These are dollar derivatives—a financial instrument that is redeemable by USD at a fixed exchange rate, which is backed (theoretically) by reserves. Eurodollars are just USD deposits held outside the US.
787.
by lottin 5y ago
This is not how you compare two industries. Comparing Visa to Ethereum, in terms of the value of the service that they provide, is not a problem at all, in fact it's very easy. For that we would use gross value added, which is the va
788.
by lottin 5y ago
We tend to assume that people who are successful are also very smart, and this is often not the case.
789.
by lottin 5y ago
How can someone who is in "completely poverty" be trading NFTs? You made up the whole thing, didn't you?
790.
by lottin 5y ago
Yeah, this is pretty obvious. I don't know that the phrase "fundamental rate limiter" can be used to describe a solution to this problem. Maybe it's me but it seems very odd choice of words.
791.
by lottin 5y ago
What is a fundamental rate limiter and why do we need one?
792.
by lottin 5y ago
> similar “proof of legit business-hood” was not easy to determine in a timely manner Source? I find it hard to believe.
793.
by lottin 5y ago
> How is that any harder than getting into a legally binding agreement with anyone else about anything else under the existing system? I never said it was harder. I'm merely pointing out that the proposed solution to this particula
794.
by lottin 5y ago
> You are fully in control of your funds with cryptocurrency. There is no middleman that can say "no, sorry, you can't use your money today." Don't blockchains rely entirely on transaction processors, i.e. middlemen,
795.
by lottin 5y ago
> It isn't difficult to set up multisignature wallets I don't think setting up the wallet is the hardest part. The hardest part would be to get into a legally binding agreement with the other parties, that you depend on from n
796.
by lottin 5y ago
That's not bitcoin's inflation rate. That's the rate at which bitcoins are printed. Additionally, bitcoins can also be created and destroyed via fractional reserves.
797.
by lottin 5y ago
Well, you're right about that... human stupidity never ceases to surprise me, so weird things could happen.
798.
by lottin 5y ago
Gold isn't a currency of last resort. It hasn't been used as currency for almost a century. It isn't a good investment, either. [1] It's "value" (you mean price?) is determined by supply and demand, like ev
799.
by lottin 5y ago
And pigs might fly.
800.
by lottin 5y ago
Paypal is a legal entity and therefore subject to the same laws as you and me. They can't just do whatever they please. If they did prevent their customers from spending their own money or they freezed their accounts for no apparent
801.
by lottin 5y ago
Exactly, miners are paid in bitcoin but they need to pay the electricity bills with real money. This creates a constant selling pressure that has to be countered with aggressive marketing.
802.
by lottin 5y ago
> The energy is expended It certainly is.
803.
by lottin 5y ago
It doesn't matter, all blockchains work the same way. They all depend on middlemen to process transactions.
804.
by lottin 5y ago
> bitcoin is energy money Bitcoin isn't energy anything. The energy required to print bitcoins has been expended in the process of printing the bitcoins.
805.
by lottin 5y ago
If you're claiming that a government is abusing its power because it froze some funds, and it turns out it was done according to law, then the accusation is unsubstantiated. Maybe it was abusing its power, but we haven't been s
806.
by lottin 5y ago
So it's not abuse then? If it was done according to law.
807.
by lottin 5y ago
Are you sure this is abuse? My guess is a judge ordered the accounts to be frozen.
808.
by lottin 5y ago
Q.E.D.
809.
by lottin 5y ago
> Who is determining our monetary policy then? Who is setting interest rates? Where does the money for a trillion dollar stimulus package come from? I don't know... does the answer to any of these questions suggest to you that the i
810.
by lottin 5y ago
What I was saying... the government doesn't have a monopoly over money. The whole crypto narrative seems thought out by people who don't have a clue about how things work and have zero real-life experience.

More ›