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Comment Re:look ma, (Score 1) 66

OFC this actually exists: magic Bean Coin. It was an inflationary coin (holding coins generated more coins). I met one of the developers a few years ago. He was a really smart thoughtful principled guy. Just chose a really weird goal to throw himself into and not much formal economics education (but lots of "alternative economics"). I just checked first time in a decade, the 24 hour volume was like six bucks and the project webpage is gone

Comment Re:No complaints (Score 1) 66

... and in Texas, you are getting it very hot in the summer and suddenly freezing cold in the winter and with insufficient electricity grid and rapidly diminishing water resources and increasing political strain with your biggest trading partner and a rising culture that is proudly pro-faith and anti-science

Jesus fuck you could not pay me to move there

Comment Re:At last. (Score 1) 66

Think about it for a few more seconds with your engineering hat on. The use case Bitcoin is designed for is peer-to-peer electronic cash. Internet money transfers, with no central authority.

That has two parts:

  1. Internet money transfer
  2. No central authority

Number 1 has been a solved problem for over a decade now. Between credit cards, ApplePay/Venmo/PayPal/CashApp/etc etc, cash transfer over the internet is virtually instantaneous and acceptably small cost.

Number 2 is of absolutely no interest to governments. They want a central payments authority, the ability to sanction, reverse, etc etc.

Crypto is an attempt to solve a usecase that governments do not have

Comment Re: Failed to learn from the bad US example. (Score 1) 16

Milton did not do a rigorous analysis -- he was speaking off the cuff. With many more decades of data it is clear that a literal handful of notable failures are offset by hundreds-not-dozens of successes. Libertarians are like (and very often are) the Dunning-Kruger champs, listening to one fringe theory and putting fingers in ears when conflicting data comes to light.

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