lottin

52 ms·

931.
by lottin 5y ago
An overcollateralised loan is equivalent to a swap (a type of derivative). Swaps have their uses, and are used in finance, but they don't provide financing . The point is if blockchain technology can't be used to do financing,
932.
by lottin 5y ago
You don't seem to get it. If the borrower has to put up 100% collateral it means that their buying power remains the same. Borrowers borrow money in order to increase their present buying power (at the expense of future buying powe
933.
by lottin 5y ago
I'm saying that blockchain technology is inherently incompatible with financing, which is the basic and most important function of finance.
934.
by lottin 5y ago
If I lend you 1 ETH, I have no means to make you pay me back. Smart contracts can't do that either. A smart contract cannot seize 1 ETH from your wallet and send it back to my wallet. Blockchains are designed specifically to prevent
935.
by lottin 5y ago
The primary function of finance is to enable economic agents to trade future consumption for present consumption, by means of debt. And debt requires a trusted third-party that has the capacity to re-allocate assets. Otherwise the borrowe
936.
by lottin 5y ago
Your bank statement is not private, your bank has it. You can pay with cash, but the other customers can see you right there paying, so that's not private either. I understand the need for private communications, but private transacti
937.
by lottin 5y ago
I'm talking about the dialects of these languages (in the case of Catalan, Valencian and Balearic), which according to some constitute different languages altogether. But the same people who say these dialects are a separate languages
938.
by lottin 5y ago
This only applies to "regional" languages though. For example, Spanish has different dialects yet nobody would suggest Andalusian isn't Spanish, but an entire different language. The political motivation is clear.
939.
by lottin 5y ago
What would be the point of "transaction privacy"?
940.
by lottin 5y ago
Look up "anti-money laundering".
941.
by lottin 5y ago
It's slashdotted.
942.
by lottin 5y ago
This is a misunderstanding of how the money supply works. Central banks have a legal monopoly on the issuance of currency, but they don't have complete control about the money supply, because commercial banks also create money via fra
943.
by lottin 5y ago
Yes, it has already happened in the past [1] [2]. [1] https://www.theverge.com/2018/3/16/17128678/plattsburgh-new-... [2] https://www.govtech.com/policy/washington-utility-will-uphol
944.
by lottin 5y ago
It's a simple question.
945.
by lottin 5y ago
I can see that. How would that help with collecting royalty fees in a typical scenario like the one I described?
946.
by lottin 5y ago
I don't know what this means. Let's say I own the copyright of a musical composition, and I sell a license to a film producer. How does this standard help me collect royalty fees?
947.
by lottin 5y ago
The linked article talks about implementing a tax on re-sales of NFTs. It says nothing about royalty fees.
948.
by lottin 5y ago
Not just a significant portion, the vast majority of money in circulation is money created by commercial banks, not central banks. For example, in 2007, Euros issued by the ECB accounted for less than 15% of the supply of Euros (M1): http
949.
by lottin 5y ago
That's not example of something NFTs can do, is it? Royalty fees are not programmable. How does the NFT know whether someone has to pay royalties? And how on earth is an NFT going to make people pay royalties? An NFT can't use
950.
by lottin 5y ago
Is this money transfer system compliant with current regulations? Because if it isn't, you're comparing apples with oranges.
951.
by lottin 5y ago
But is this blockchain-like technology better than the alternatives? What advantages does it have over a simple checksum, for example?
952.
by lottin 5y ago
People are downloading music clips so that they don't have to listen to ads? Why don't they just install an ad-blocker?
953.
by lottin 5y ago
Good point, yeah, I hadn't thought this through.
954.
by lottin 5y ago
Owning your own home doesn't shield you from rent increases, because you're still paying rent, since as a owner you're not getting paid the rent thay you would otherwise receive had you rented your property out. This means
955.
by lottin 5y ago
Banned from the internet? These scumbags need to be hunted down and be given long jail sentences, at the very least.
956.
by lottin 5y ago
Another group actually bought a cruise ship, the Satoshi... a fascinating story. https://www.theguardian.com/news/2021/sep/07/disastrous-voya...
957.
by lottin 5y ago
No, NFTs serve no purpose. As far as use-cases go, they have none.
958.
by lottin 5y ago
Denominating prices in BTC doesn't magically make the price of BTC any less volatile. Prices would have to be updated several times every day.
959.
by lottin 5y ago
The idea that governments, regardless of their legitimacy or level of competence, can't be trusted to manage the money supply is anti-democratic. Because, after all, governments are also responsible for maintiaing law and order, which
960.
by lottin 5y ago
The early producers of bitcoin were not entrepreneurs. Early production of bitcoins didn't require special equipment and would not incur any significant costs at all. Note that over 60% of the bitcoins in circulation right now were p

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