smokeyj

48 ms·

421.
by smokeyj 10y ago
> I consider myself a relatively gung-ho free-market type I'm skeptical. > A free-market dynamic requires an actual market. Not really. A free-market type would say the supply is limited. Even if the supply is zero it's stil
422.
by smokeyj 10y ago
It might be difficult to imagine but there's countries where the official government issued currency leads to the exact situation you're describing. Unpredictable buying power and economic uncertainty. That was the whole point of
423.
by smokeyj 10y ago
But why you mad bro? This isn't a personal attack on your trading account. Some people here were just talking about technology stuff, don't sweat it!
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by smokeyj 10y ago
That delivery.. It needs work. It comes across as "promote my blog or you don't really support change" where the blog also links to donations and your store. Your arguments would go much further if you just bulleted them. Her
425.
by smokeyj 10y ago
That's not what I'm saying at all. More like, ignore the trolls and keep doing your thing. I know "growing thicker skin" is not the ideal solution - but what else is there?
426.
by smokeyj 10y ago
It does matter. Are we going to let one basement dwelling loser ruin the internet as a whole for everyone? Are we going to empower anonymous commenters to pit people against each other? It may be ignorant of me to suggest blowing these trol
427.
by smokeyj 10y ago
> which apparently include mobs of misogynist trolls What's the evidence of this? If these trolls aren't using real identities I'd be skeptical if it were more than one person. Maybe even someone who knows her personally i
428.
by smokeyj 10y ago
You're missing my point. You don't ever have to use bitcoin as a currency. Instead of holding say - 1 bitcoin - you could own a certificate for oil (or a diversified basket) - represented on the blockchain (still .000000001 satosh
429.
by smokeyj 10y ago
Each bitcoin is divisible up to 8 digits and can be used to represent certificates - potentially representing cell phone minutes, or certificates to equity or commodities - for the cost of .000000001 satoshi. Now the kicker is, the bitcoin
430.
by smokeyj 10y ago
In theory users could pay a transaction fee denominated in a commodity. Once mined the miner can convert to another asset type. But say you're saving in terms of kegs of beer and can't pay a fraction of a keg - you could keep an e
431.
by smokeyj 10y ago
One problem with organic produce is the shelf-life making speculation potentially tricky. I could see a role for futures and prediction markets to hedge risk and better find the market rate. Check out Augur for example https://ww
432.
by smokeyj 10y ago
> The examples you give are all physical items that have intrinsic value because they can be used for something other than being money One could argue that's the definition of real money - but to say Bitcoin isn't real money
433.
by smokeyj 10y ago
I never suggested storing your savings in bitcoin. I'm saying the future of storing value is in commodities and equities represented on a blockchain - along with a real time settlement layer allowing people to charge and pay in any den
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by smokeyj 10y ago
> I could imagine your scenario of pricing in AAPL and paying in oil and GOOG in a technological sense, but I have a hard time imagining anyone actually doing it. In Kenya people trade in cell phone minutes (MPESA). It's not a huge
435.
by smokeyj 10y ago
> money derives its value from 2 sources: 1) the actual goods and services (GDP) that it represents and 2) the fact that government demands taxes be paid in it. This is historically and factually inaccurate. Currencies typically originat
436.
by smokeyj 10y ago
Is currency ever a good store of value? If you're a billionaire you're certainly not storing it in fiat. Bitcoin being a globally distributed ledger has the ability to represent shares of commodities and equities. It's why
437.
by smokeyj 10y ago
https://en.wikipedia.org/wiki/Hyperinflation#Notable_hyperin... It's a big world out there, most of which has no easy way of integrating with modern systems of credit, lending and other financial instruments. I se
438.
by smokeyj 10y ago
With a title like "The Disaster that is Bitcoin" we really shouldn't feed the trolls. It's true bitcoin doesn't compete with traditional fiat for many purposes. Calling bitcoin a disaster for it is trolling people w
439.
by smokeyj 10y ago
But people don't just want a hot meal. They want Zuck to heat their meal for them AND they want Zuck to wear a blindfold. So instead of heating your own food, or finding someone else to heat it - they demand politicians to intervene -
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by smokeyj 10y ago
So now FB is the equivalent of a hot meal. I think you're comically making my point.
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by smokeyj 10y ago
It seems the population is literally addicted to FB hence the cognitive dissonance. If anything should be lobbied for it's better mental health services related to social media addiction.
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by smokeyj 10y ago
Adopting an alternative to Zuckernet is the exact opposite. Continuing to hand your life's data to Zuck is to throw your hands up. Begging your politician for a little privacy from Zuck when strong encryption exists is to throw your ha
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by smokeyj 10y ago
But if you have a database of the entire population and can correlate relationships in data - what exactly does this legislation look like? "Ok Zuck, here's all my data. But don't run a `SELECT *` because that would violate m
444.
by smokeyj 10y ago
> I don't know enough to do that with any confidence. From an epistemological perspective no one does. No one person in this world contains the knowledge needed to manufacture a modern day pencil from scratch. I don't think the
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by smokeyj 10y ago
How does automated truck drivers unequivocally equal economic inequality? It's theoretically possible that this labor is now freed up to create value for lower income households.. The only reason self driving tech won't be commodi
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by smokeyj 10y ago
> this isn't the iPhone, not yet anyway Remind me to read this in a year. Or a week.
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by smokeyj 10y ago
Reads like a full page ad by the WSJ. Uncool on multiple levels.
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by smokeyj 10y ago
It seems you're willfully conflating an implementation with the theory. The success or failures of the DAO has no bearing on the idea of digitizing and decentralizing financial services.
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by smokeyj 10y ago
> Now, this isn't to say an investment is safe because it's accountable and transparent Troll somewhere else bro. You add nothing to the discussion. Write a fortune cookie or something.
450.
by smokeyj 10y ago
Some people aren't capable of reasoning in principle. I'm not appealing to them.

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