ric2b

56 ms·

601.
by ric2b 6y ago
> Stabilizing the price of the USD during recessions is literally the definition of Keynesian. Except the reverse doesn't happen (since the gold standard was dropped), so it's at best "half-Keynesian": https:/&#
602.
by ric2b 6y ago
Ok, I get your point, but in practice printing this much money is going to also increase the velocity, is it not? Who's going to just keep $1T in a vault and let it rot for a century? And if we expected that to happen, why even print i
603.
by ric2b 6y ago
Yup, if that was true interest rates should be going up, right?
604.
by ric2b 6y ago
I don't think you're saving any carbon emissions by printing IKEA catalogs...
605.
by ric2b 6y ago
Chat has other advantages. Lets say you're trying to agree on a restaurant for dinner: - If I'm busy right now I don't need to stop what I'm doing to answer the call, or you don't need to try again later. - Need 2 m
606.
by ric2b 6y ago
> No one mails paper dollar bills around. Right, and that somehow didn't stop USD credit cards from existing. But for BTC it's either the base chain is better for every single use case or it's a giant waste of time. > U
607.
by ric2b 6y ago
BTC is more auditable than most/all assets. Tesla simply needs to show the auditor their addresses and use the respective private keys to sign a message of the auditor's choosing. The signed message proves they own those addresses
608.
by ric2b 6y ago
But if the brokerage already has your money they can use it to post collateral. And yet they banned everyone from buying. A lot of stuff doesn't add up here.
609.
by ric2b 6y ago
No, they say it "is typically formulaic". It's quite possible that this time it wasn't. I'd say it's very likely that it wasn't formulaic this time, since Robinhood's CEO said in an interview with CNB
610.
by ric2b 6y ago
Sure, but the NSA isn't supposed to be the CIA, it's not a spy agency. Or at least it shouldn't be...
611.
by ric2b 6y ago
"I'm cool because I never learned some things"
612.
by ric2b 6y ago
Yes, but the limit is chosen to keep a balance between scale and decentralization (keeping the cost of running nodes low). It can be safely increased over time as bandwidth, storage and processing costs go down. For now there's still a
613.
by ric2b 6y ago
It also used to be an empire, that's gone.
614.
by ric2b 6y ago
And a few years ago some guy was able to buy google.com for a few minutes or hours, I don't quite recall.
615.
by ric2b 6y ago
> Is that so bad? Is funneling tons of taxpayer money to some useless family of millionaires bad? Yes, I think so. It's a moral failure and should just stop.
616.
by ric2b 6y ago
Nothing stops you from having Bitcoin credit cards. In fact they already exist. Dollar bills don't have any of the advantages you mentioned either. How fast and secure do you think mailing them to some company is? A lot of these argume
617.
by ric2b 6y ago
> If the price of gold went to zero then you could still use it to make jewellery or use it for electrical conductivity. If the price of bitcoin goes to zero then it's worthless. Does it really matter if the bottom is 5% instead of
618.
by ric2b 6y ago
None of that is about actually blocking the transaction, it's just about possible consequences of making the transaction. By that logic anyone in the world can "block" whatever they want by threatening consequences.
619.
by ric2b 6y ago
> Proof of Stake has proven quite robust. They're not mathematically provable and the jury is still out. Attackers who know some exploit might be waiting for the much larger Ethereum to switch to PoS so they can reap maximum profit.
620.
by ric2b 6y ago
Not necessarily, depends on the ratio between users and value of the block reward.
621.
by ric2b 6y ago
> The government implicitly guarantees that the USD can be used to purchase goods and services. That's not backing, there's nothing that the government guarantees I am able to exchange for $1. > Take a dollar bill. It has &q
622.
by ric2b 6y ago
> My personal pocket philosophy is that the money we pay the royal family is the cost of a peaceful transformation to democracy. The transition is done, if you stopped now there would be no revolution to keep the monarchy.
623.
by ric2b 6y ago
> It is commonly asserted that the British monarchy brings in far more money than it drains in the form of tourism. Ok, but how is that related to the political power of the monarchy? I don't think tourists even know what powers the
624.
by ric2b 6y ago
> we can objectively compare the efficiency and ease with which a monetary system can facilitate transactions. Ok. How much does ease of use matter for the value of a currency? 50%? 20%? 80%? What about all it's other characteristic
625.
by ric2b 6y ago
What do you mean by "objective value"? My belief is that such a thing doesn't exist.
626.
by ric2b 6y ago
But they did block GME buying anyway.
627.
by ric2b 6y ago
It's 1 block every 10 minutes. The difficulty adjustment goes both ways, if blocks start taking longer than 10 minutes to be mined (for example if some large miner stops mining for some reason) the difficulty goes down, which likely me
628.
by ric2b 6y ago
Could be anything, just logging the value of x to some place. Assume it never raises exceptions.
629.
by ric2b 6y ago
I certainly would.
630.
by ric2b 6y ago
Actually with Covid it might really be illegal to go get tea with your mother in some places, assuming you don't live with her.

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