snitko

77 ms·

691.
by snitko 14y ago
So if government was really concerned with its citizens well-being, maybe they should have simply launched a campaign informing people that it might be dangerous to take private cabs. Then private cabs industry would respond by introducing
692.
by snitko 14y ago
Of course, because instead of trying to understand libertarian arguments it's easier to say "oh, but they're just bananas". There is not an objective reason in the world to regulate taxi-services. None.
693.
by snitko 14y ago
You're right, I apologize. It was an unnecessary statement. I think I tend to be a bit passionate when it comes to certain subjects and it hurts the discussion. I hope the author of the comment I replied to didn't take it personally.
694.
by snitko 14y ago
If only there was a currency that would do it for me even better than a bearing account. Oh wait.
695.
by snitko 14y ago
How would miners demand? They can't say "do it or we'll stop mining", there will be plenty of competition out there willing to take their job. As for deploying the code themselves - it's not like you can deploy it and force people to use it
696.
by snitko 14y ago
You're not taking into the account the time it takes to accumulate the necessary savings! For many people who start their businesses it may as well be 5-7 years. You're also not taking into the account such investments as buying a house. In
697.
by snitko 14y ago
This cannot be further from the truth. Inflation encourages people to spend, that's true. However there's nothing in inflation that encourages the right kind of spending. If I'm not sure what to invest in right now or don't see an opportuni
698.
by snitko 14y ago
Miners do not control the rules, they merely choose to accept or not accept them. That's a very important distinction that is a part of the checks and balances system in Bitcoin.
699.
by snitko 14y ago
That only means people will borrow less and the denial of capital some may face will be exactly to the extent to which they profit from deflation and hoarding. Borrowing is not the solution to all of the problems, yet it is pictured to be t
700.
by snitko 14y ago
Tell me more how an inflationary currency would appeal more to the masses. You're being delusional - it appeals to Keynesian economists.
701.
by snitko 14y ago
A lot of people ask this question, but forget to look at a very apparent and distinct characteristic of Bitcoin: it's opensource. If another awesome and very useful feature appears in Litecoin nothing can prevent Bitcoin maintainers from im
702.
Own your own Bitcoin Exchange(bex.io)
58 points by snitko 14y ago|41 comments
703.
by snitko 14y ago
What do you mean nobody? Austrian economists are a legitimate school of economics and they are in favor of deflation. It was Austrians who were able to predict most of the collapses we've seen over the century. When Keynesians said it's imp
704.
by snitko 14y ago
Not necessarily. By investing you take your destiny in your own hands: you deflate your savings and also collect profits. It is not a given that those just sitting around will profit more from inaction, but it is true that you make them ric
705.
by snitko 14y ago
Ok, I think you misunderstood my statement. I was saying this: if you want growth, you need to invest. If you don't invest, you don't get more goods and services in the economy. If you don't have more goods and services, each unit of money
706.
by snitko 14y ago
That's a valid concern but it doesn't stand scrutiny. Production itself doesn't create deflation. If the number of goods and services in the world remains more or less constant, it means there is no deflation. At the same time, people will
707.
by snitko 14y ago
There won't be a lot of lost wallets. At least not enough to cause any kind of noticeable effect.
708.
by snitko 14y ago
You won't be paid less. The money you'll be paid would worth the same, numbers don't matter. Also, your savings would increase in value as everyone else's. I find it very common even here on HN that many people fall for this fallacy that mo
709.
by snitko 14y ago
Please read this short thread where I explain why investment is still an attractive option with Bitcoin: https://news.ycombinator.com/item?id=5403360 I hope this changes your mind.
710.
by snitko 14y ago
"Buy an economy" is a meaningless term. They can either buy products and services or invest. And this is dangerous why? If they decide to start spending their money, this would indeed mean temporary inflation as the money supply circulating
711.
by snitko 14y ago
You may think that deflation and hoarding is bad. However people are drawn to it. Fortunately, you can't tell people what to do and where to store their money. Thus, a currency that allows hoarding will always be more attractive to people t
712.
by snitko 14y ago
One thing that I really want is the ability to set different background colors for panes and windows. Sadly, it is a feature of a terminal app, not tmux. One can only imagine tmux would integrate tightly with various terminal applications t
713.
by snitko 14y ago
with no aggregate monetary growth it would be like "investing" in a game of poker . This statement is wrong, because you measure profits in money rather than value. With bitcoin the amount of money in the economy stays the same, true. Howe
714.
by snitko 14y ago
You have a point, however I would like to note that Bitcoin is not actually a deflationary currency as I explained in this comment: https://news.ycombinator.com/item?id=5403360 The bigger issue we should be focusing on is not deflation or
715.
by snitko 14y ago
Ok, let's say everybody in the world uses Bitcoin. Nobody invests. If that's the case, then the amount of goods and services in the economy remains constant, which means the price of Bitcoin doesn't rise. How do I make money then without in
716.
by snitko 14y ago
Then we have to ask, bad for whom? For those who take loans certainly it's bad. For those who loan, it's great. Inflation creates a reverse situation. It is possible, I would imagine, to create contracts that adjust for the fluctuations in
717.
by snitko 14y ago
I have never met a single person who was able to convincingly raise at least a little bit of suspicion about deflation in me. Why is deflation bad? Because people stop spending? Can't you see how ludicrous this explanation is?
718.
by snitko 14y ago
Offtopic: I can't really read those articles form New York Times and Washington Post. They have 1% of substance over 99% of bouillon of words. Maybe I'm alone here, but I just want articles to say what's going on in one sentence at the begi
719.
by snitko 14y ago
Yes, and they return the money if they remain unclaimed for a month or so.
720.
by snitko 14y ago
There's nothing out there that prevents companies to create Bitcoin services to store and insure your savings for you. I believe they will inevitably emerge as the Bitcoin economy grows.

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