wqaatwt

22 ms·

541.
by wqaatwt 1y ago
There is plenty of empirical evidence from the 1800 to 1930s showing how a deflationary currency affects the economy. Amongst other things getting stuck in permanent boom and bust cycles wasn’t that great. > But the same criticism can be
542.
by wqaatwt 1y ago
Gold/silver worked reasonably well for thousands of years and unlike bitcoins they functioned as an actual currency. Even if you can pay for stuff with bitcoin it’s not a currency until people actually start setting prices based on it.
543.
by wqaatwt 1y ago
> can’t imagine Really? You can’t imagine any process which would take 40x less time than 20 minutes? Sure bitcoin is more liquid than real estate. That’s rather obvious and not a particularly high bar. It’s not particularly liquid compa
544.
by wqaatwt 1y ago
> Nobody prevents you from spending..bitcoins Well besides common sense. If you own a deflationary asset/currency which is guaranteed to appreciate as long as the economy is growing (well it wouldn’t if btc became a global currency
545.
by wqaatwt 1y ago
Point is that it encourages hoarding money instead of engaging in anything that’s productive. Technical issues are secondary.
546.
by wqaatwt 1y ago
> stability That’s the opposite of stability unless you have an entirely static economy with no growth. Adopting an extremely deflationary asset as a “currency” is one way to get the no growth part I suppose. It certainly wouldn’t be sta
547.
by wqaatwt 1y ago
> He handed me a US$100 bill. Seems like an extremely inconvenient process and it’s unlikely you’d easily find that many people to agree to this unless without a significant premium (>5-10%). Also $100 is not a lot.
548.
by wqaatwt 1y ago
Even if places accept bitcoin they almost universally price their goods in $/€/£/.. meaning that bitcoin is only a transfer mechanism. So it’s not really a “currency” in that situation either. I mean if somebody accepts preci
549.
by wqaatwt 1y ago
A hyper deflationary asset cannot ever be a proper currency.
550.
by wqaatwt 1y ago
> successful currency Calling it a currency is a huge stretch. It’s an extremely successful token/“asset” but it’s about as much as a currency as gold is these days if not less (based on what most people use it for).
551.
by wqaatwt 1y ago
> S&P500 literally at an all time high. It still has 10% to go to surpass its previous peak if measured in euros. Which is kind of the point. Currency depreciation is usually good for the local stock market, that’s not too surprising
552.
by wqaatwt 1y ago
> as much control over the people as possible Also significantly increasing economic and financial stability (compared to the days of the gold standard with its permanent boom and bust cycles)
553.
by wqaatwt 1y ago
Shrinking population as such might not be terribly on an individual perspective. Aging population and a significant decrease in per capita productivity. Well that’s not great for anyone..
554.
by wqaatwt 1y ago
Dramatic inflation = growing stock market (all other things being equal). Just look how great the Turkish stock market did since 2020. ~14x increase (in local currency)
555.
by wqaatwt 1y ago
> even more They were extremely cheap, though? Even in richer Western European countries..
556.
by wqaatwt 1y ago
Switching to a diet mainly made up of maize and grain might not be that appealing to most US consumers though
557.
by wqaatwt 1y ago
> -6.9% Still extremely high by global standards considering everything. e.g. Hollande in France was at less than -80% not that many years ago.
558.
by wqaatwt 1y ago
In general lower interest rates would cause your currency to depreciate.
559.
by wqaatwt 1y ago
Which would mean that the Euro would depreciate significantly against the dollar under normal circumstances. Yet the Euro increased by > 10% despite the ECB cutting the rates quite significantly. Imagine how low the dollar would go if th
560.
by wqaatwt 1y ago
Economic instability and uncertainty. How high it is compared to other markets is debatable it has increased significantly this year due obvious reasons, though
561.
by wqaatwt 1y ago
It’s more about the price than quality. When you can make products that are just as good (outside of some niche areas) in China/etc. for a proportion of the cost there is very little reason not to do that unless you have no competition
562.
by wqaatwt 1y ago
There will be full of crapware available if enterprise starts adopting Linux on a wide scale. e.g. Crowdstrike is already there.
563.
by wqaatwt 1y ago
> Using an LLM solves that problem, because you don't need a nerd to operate it. Until you do. LLMs are great ar building prototypes but at some point if you don’t know what you’ll doing you’ll end up with an unmaintainable mess an
564.
by wqaatwt 1y ago
Not on the “political concerns” checklist which is getting more and more important
565.
by wqaatwt 1y ago
> That's around 1-2 months of time for a decent Presumably they are in Europe? so labour is a few times cheaper here. > Providing 24x7 support They are not maintaining the hardware itself and it’s not like Amazon is doing providi
566.
by wqaatwt 1y ago
What’s the source on OpenAI doing the same? How is it anymore legitimate in anyway? Which kind of would make the entire “discussion” moot and pointless
567.
by wqaatwt 1y ago
There are stories about e.g. Hetzner requiring all sorts of data from people who want to open/verify accounts so perhaps not. Might just be an anti “money laundering” thing. Especially if the credit card company ends up refunding every
568.
by wqaatwt 1y ago
Well if the constitution does not explicitly grant a certain right it can’t just appear out of nowhere? At this point it’s about the “spirit” of the constitution not what is in the document itself since there is no mention of presidential i
569.
by wqaatwt 1y ago
Problem is that gold is only worth as much as you can buy with it. If there aren’t enough goods it’s actual price will drop by many times
570.
by wqaatwt 1y ago
It is if you compare yourself to other people living around you or at the same time. After all they are the ones your competing for a limited amount of resources with. Comparing the wealth of people who lived hundreds of years ago in entire

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