lowkey

38 ms·

421.
by lowkey 5y ago
I can see you subscribe to modern monetary theory and believe that central bankers and their ability to freely print money without limit are essential to a functioning modern economy. Further, I see that you don’t share my concerns about in
422.
by lowkey 5y ago
Similar to other stablecoins, over-collateralized lending against the value of staked crypto assets. See here for details on UST (Anchor protocol) https://www.anchorprotocol.com/docs/anchor-v1.1.pdf
423.
by lowkey 5y ago
I mean it already works like that in cryptocurrency today. Look at the rates paid on stablecoins. For example look at UST a US dollar stablecoin. It currently pays 19.4% APY on savings. There are risks but for 2% on Nexus Mutual you can be
424.
by lowkey 5y ago
From the article, the two charts referenced don’t say what I think you were hoping they say. The first chart claims to show how CPI fluctuated wildly on the gold standard, except if you read the * and footnote in the article you will see it
425.
by lowkey 5y ago
> I’m always a bit surprised when people seem to imply that there’s a fundamental human right to perfectly stable stores of value If it were not for central bankers printing money into existence, a person could work their life, save a po
426.
by lowkey 5y ago
1) Bitcoin isn't about fast and cheap transactions. It is about censorship-resistant transactions and sound money with a fully fixed and transparent monetary policy, protected by the most powerful supercomputer in the history of the wo
427.
by lowkey 5y ago
The borrowers were not experts in the detail of the mortgage markets. They took loans that were offered to them by industry actors who knew or should have known that the sub-prime loan applicants were a bad risk, but let’s give them a pass
428.
by lowkey 5y ago
I’m exhausted by the fiat money scam 2% annual inflation over a 40 year career amounts to 40% less earnings. Inflation is theft. Bitcoin fixes this. No one has ever explained a better solution to inflation than Bitcoin. Fiat money printing
429.
by lowkey 5y ago
> No, that means that all customer deposits can be used for loans. There’s zero requirement for banks to hold any deposits in reserve to ensure they’re able to pay out individual depositors on request. If I am mistaken please correct me
430.
by lowkey 5y ago
Yes but the majority of the fraud that led to the financial crisis was due to the way the banks fraudulently combined sub-prime mortgages into mortgage backed securities and the ratings agencies looked the other way. There was rampant fraud
431.
by lowkey 5y ago
See: https://www.investopedia.com/terms/r/requiredreserves.asp > On March 15, 2020, the Federal Reserve Board announced that reserve requirements ratios would be set to 0%, effective March 26, 2020. Prior to th
432.
by lowkey 5y ago
> They use customer deposits and operate as a fractional reserve. Close, but not quite. The banks are barred from using customer deposits to fund loans. They also have a 0% reserve ratio currently so it is 100% fractional reserve. In sho
433.
by lowkey 5y ago
Everything about the Jeffrey Epstein and Ghislaine Maxwell story sets off alarm bells. Given the number of high-profile people involved, and the curious outcome that befell Jeffrey Epstein, I think conspiracy thinking may be a reasonable op
434.
by lowkey 5y ago
Could you provide more details? Other than the Ghislaine Maxwell Trial tracker and the Nancy Pelosi Portfolio tracker, what other accounts were part of the mass suspension this morning?
435.
by lowkey 5y ago
- USD is not a commodity or an asset. And yet the point stands. The value of the USD depends on a large number of people collectively agreeing that x dollars are worth y loafs of bread. - "security by hashpower" assumes that PoW i
436.
by lowkey 5y ago
I'm speaking about me personally. I am a member of the HN community and I find the article interesting. I believe that is the standard for the site. Simply what we as a community find interesting, so I shared my opinion. You are entitl
437.
by lowkey 5y ago
I agree. It would be very disappointing for this article to be flagged as off-topic. I think it is extremely relevant and I am glad we are discussing it openly.
438.
by lowkey 5y ago
> You and I have a different idea of "everyone" means, but anyway... I misspoke, everyone who is investing in Bitcoin, ~100 million individuala, is doing so because of it's store of value and inflation-hedge properties &gt
439.
by lowkey 5y ago
Curious, if we replace the word 'shilling' with advocating, and replace the word 'bitcoin' with another arbitrary technology, say Linux or Typescript, would you still be strongly opposed? Tl;dr: are you strongly opposed
440.
by lowkey 5y ago
A claim without evidence is simply hand-waving. Do you have anything of substance to add or are you just here to make empty claims?
441.
by lowkey 5y ago
> Do you realize this idea of poison alcohol was propaganda from the government, right? Do you realize that: > During prohibition, the US Govt added poison to industrial alcohol to discourage consumption. People continued to drink it,
442.
by lowkey 5y ago
Call me confused, but my understanding is that pretty much everyone is currently using it as digital gold, a store of value, a powerful hedge against inflation. Why is store-of-value not a valid use case, especially with central banks print
443.
by lowkey 5y ago
Hard money didn't cause the Great Depression any more than Bitcoin caused the Great Financial Crisis. There were multiple causes for the great depression but sound money was not one of them. > If you had a partially planned economy
444.
by lowkey 5y ago
An FDIC insured bank account is already limited to a specific amount in order to prevent the 'rich' from free-riding. It still isn't clear to me why you would try to justify a system that doesn't allow an average wage ea
445.
by lowkey 5y ago
Most are Hodling. The rest are selling for USD or USDT mostly is my guess
446.
by lowkey 5y ago
“A fool and his money are soon parted” Fool’s gold has always been a thing. Similarly, there will always be some who cannot distinguish between Bitcoin and the latest dog coin. Few Bitcoiners are selling Bitcoin to buy NFTs or altcoins.
447.
by lowkey 5y ago
I don’t buy the position that government bans automatically cause the market price to crash. See marijuana, alcohol, cocaine, heroine, etc. None of those saw market demand, nor price crash. Also, unlike drugs and alcohol, Bitcoin is a digit
448.
by lowkey 5y ago
> The only reason cryptography ban in the 90s failed was because everybody in the business world needed to have access to strong crypto for to use security reasons. If people had to roll their own crypto, the NSA cryptanalysts would have
449.
by lowkey 5y ago
The block subsidy expires 99% by 2040 and 100% expired by 2140. I have no idea what the tx fee will be after that, but let’s take your guess of $100/tx as a baseline. Whatever the fee - whether $1/tx as it is today or $100/tx
450.
by lowkey 5y ago
Price being volatile != Price being manipulated. Please provide evidence that the ~13% drop in value recently was caused by market manipulation, or retract your statement.

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