1CtfHj…zVrZ

I want @852 to update when I click the "Home" button. Instead I have to refresh the page every time, it seems.

BSV would do well with a bit more adversarial thinking, is what I am saying.

Or the opposite for more optimal price discrimination!

I enjoyed the episode. The discussion on gold was on point. No developer group (not even when led by some Frenchman) can impose changes to the composition of gold atoms. For Bitcoin, a similar property would be a net positive, as tinkerers gonna tinker.

I showed my friend the Whistle While You Work video, where a blue-stagged Krawisz happens to chance upon you in a forest glade and proceeds to scold you for monetary illiteracy.

Now my friend looks at me funny.

https://medium.com/@bdratings/the-costs-that-haunt-your-dreams-of-hyperbitcoinization-c45d2b28b6d2

Special thanks to @24 and @109 for earlier articulating some of their ideas about what money is. They were useful.

Unbacked paper money can produce endless military material to equip you before herding you to the front.

Don't think, HODL! Lower you IQ to that of a granite mountain, for human freedom!

The lower the IQ, the easier it is to end up willingly sacrificing yourself for strangers (who cheer you on btw).

I think Sir William is on to something.

Short song published in New York during the Civil War.

To be even more precise, It seems the value of money has to do with future unexpected asks (where unexpected new production is a subset). Say the taste for cigarettes changes for someone, who then tries to sell them. Benefits holders of cash.

Thanks, that makes sense. Starting with ERE and thinking about deviations from it helps. But what is kind of messy is that in our world, with debt and equity not always flexible, even expected new prod. settles with money whereas in ERE it doesn't.

I think most are still new to thinking about all this, and are dealing with thinking in terms of monetization, for example Menger and saleableness. But nothing there teaches the reader what determines the value of money, only how and what money emerges.

Calling willing BSVers to jump in here. My brain has been temporarily fried by extensive sat stacking and mindless hodling.

I've been thinking about the value of money being future new production, as @24 points out from time to time. Isn't it rather about unexpected outcomes from what people expect will be produced? And does it matter if deviation is up or down? Difficult.

What people mean when they utter that is the Mengerean dynamics that took the world from hundreds of primitive monies, to essentially three. It is a correct statement, given that you extend the time horizon.

You have revised your fork strategy then? To me it seemed rather prudent for regular people to keep all forks (for free) if they believe any version of Bitcoin will end up winning.

3.) On a side note, I think this effect is why nations end up with heaps of paper money in the streets. It's not calculated evil; those printing are pressured to do something about the "shortage of money". And the more they print, the bigger the shortage.

1.) If you think fiat money is too abundant now, just wait until it gets scarce. When the depreciation of the value of existing stock is larger than the value of new issuance, that's when clamoring demands for new issuance get louder.

2.) The new money that is to exchange for products and services can purchase an ever smaller amount. The population experiences a "shortage of money", while in fact the money supply is inflating exponentially. It is the embodiment of all economic horrors.

The latter must have a rather large incentive problem, though, since you spend own resources just so that the Bitcoins of others (and yours) may increase in value.

Pumping is ridiculous. Hodlers of last resort are ridiculous.

With "Increase the value of Bitcoin", you specifically just mean seeking profits in Bitcoins, and only that, right?

Didn't know my trolltoll blocked Satan's whole thread. Forgive me father.

Now knowing there are happiness maximizers paid through taxation makes me more unhappy.