I am an addict - Page 7

for pretty much every country in the west, central banks have been used to hold inflation rates around a few %, creating a stable currency. So centralized currency has been a success in that regard. I'm not an expert on bitcoin but looking at the price over time, it's pretty unstable. Why is decentralized currency actually a good thing? I mean examples like Venezuala are there, but they clearly are rooted in politics, not tech.

On October 27 2021 06:58 Stroggoz wrote: for pretty much every country in the west, central banks have been used to hold inflation rates around a few %, creating a stable currency. So centralized currency has been a success in that regard. I'm not an expert on bitcoin but looking at the price over time, it's pretty unstable. Why is decentralized currency actually a good thing? I mean examples like Venezuala are there, but they clearly are rooted in politics, not tech.

The tech is meant for a solution to human flaws aka the "politics"

On October 27 2021 09:15 hiems wrote: Show nested quote + On October 27 2021 06:58 Stroggoz wrote: for pretty much every country in the west, central banks have been used to hold inflation rates around a few %, creating a stable currency. So centralized currency has been a success in that regard. I'm not an expert on bitcoin but looking at the price over time, it's pretty unstable. Why is decentralized currency actually a good thing? I mean examples like Venezuala are there, but they clearly are rooted in politics, not tech. The tech is meant for a solution to human flaws aka the "politics"

I'm not a big fan of the way central banks have operated, but they were basically made independent from the government decades ago and their main job is to keep inflation at a reasonable level. Their ability to control money supply can be used to deal with recessions, though they have been woefully insufficient at this task. With bitcoin you don't have any of that. So I don't get why anyone would want to replace central banks with it.

You can buy bitcoins in venezeula to escape inflation but if someone has access to bitcoin, surely they can just buy US dollars as well? The US dollar is actually more stable than bitcoin.

hard to say whether philosophy has hurt RiKD as we don't have a control group for him

definitely destroyed Loco though. no kind of knowledge is bad by itself, but mistakenly thinking you've become wise from having obsessively read a bunch of esoteric crackpots, is a bad road to have gone down

it's like a guy who thinks he can play gto but says he's broke because microstakes rake is unbeatable. if you empirically looked at what philosophy has added to Loco's life the only thing is probably making him pissed off that he can't get people on the internet to agree with him. net negative.

That's like saying exercising has destroyed David Goggins life and been a net negative

Becoming who you are and standing on your own two feet even when no one agrees with you and they think you're crazy is a typical experience of any truly successful person

You're not anybody if you haven't put yourself through shit that has destroyed you so you could build yourself back

On October 27 2021 06:58 Stroggoz wrote: for pretty much every country in the west, central banks have been used to hold inflation rates around a few %, creating a stable currency. So centralized currency has been a success in that regard. I'm not an expert on bitcoin but looking at the price over time, it's pretty unstable. Why is decentralized currency actually a good thing? I mean examples like Venezuala are there, but they clearly are rooted in politics, not tech.

Inflation does not create stability, on the contrary, its constantly devaluating so it creates sell pressure to aquire a stable or appreciating asset, central banks print money mainly as taxation source, and second to desincentivize saving generating a consumerist economy (yup, what you lefties hate the most).

Countries force one official coin, so you can't use a less deflationary currency in your country, you are "stuck" using their shitty currency, in cases where inflation is too high like Argentina, the market of foreign exchanges has to be controlled, (Argentinians can't buy over $200 USD per month to avoid the public dumping the argentinian peso), and in worse partes like Venezuela its flat out illegal to hold any other currency and black market arises, most Venezuelans trade in illegal dollars.


Why are decentralized currencies good?:

Censorship resistance: No more sanctions/embargos, no more forbidding of having other currencies as its in many 3rd world countries with high inflation rates, no seizing funds like the DOJ did with players money on FullTilt, no payment processing bullying like VISA to OnlyFans, less asset forfeiture bullshit etc.
Requires consensus: No central bank means they can't bail out their corrupt buddies at wallstreet when they blow up.
Practicality: you can send billions of dollars in matter of seconds across the world, try to make a big internatinal bank wire and see how it goes lol.
Equal acces to everyone: There are no barriers of entry, no middle men, brokers or minimums, if you have a dollar you can invest in whatever the fuck you want.


Bitcoin's price is unstable but it gets logarithmically more stable over time, as adoption grows it will stabilize, think if bitcoin as gold, golds price is stable because demand is pretty constant, that will happen with BTC in the future too, also there currently are many "stablecoins" some pegged to the USD either by actual USD reserves like Tether (USDT), other overcolateralized by other crypto assets like DAI, other algorithmically stable like UST and there are upcoming crypto that are true stable, not pegged to the USD that is inflationary but pegged to things like GDP and things of the sort.

On October 27 2021 19:54 Loco wrote: That's like saying exercising has destroyed David Goggins life and been a net negative Becoming who you are and standing on your own two feet even when no one agrees with you and they think you're crazy is a typical experience of any truly successful person You're not anybody if you haven't put yourself through shit that has destroyed you so you could build yourself back

you basically got dumped by your gf when you were younger and you did your version of becoming an emo-kid except with philosophy.

On October 27 2021 13:01 Stroggoz wrote: I'm not a big fan of the way central banks have operated, but they were basically made independent from the government decades ago and their main job is to keep inflation at a reasonable level. Their ability to control money supply can be used to deal with recessions, though they have been woefully insufficient at this task. With bitcoin you don't have any of that. So I don't get why anyone would want to replace central banks with it. You can buy bitcoins in venezeula to escape inflation but if someone has access to bitcoin, surely they can just buy US dollars as well? The US dollar is actually more stable than bitcoin.

So you are in favor of bailouts? I wasn't aware of that.

Bailouts only re-allocate money taking it from anybody holding cash to the bailout recipient, usually corporations, that doesn't help get out of a resesion, productiviy does, and bailing out unproductive industries isn't helping but delaying and worsening a problem.

On October 27 2021 17:15 Santafairy wrote: hard to say whether philosophy has hurt RiKD as we don't have a control group for him definitely destroyed Loco though. no kind of knowledge is bad by itself, but mistakenly thinking you've become wise from having obsessively read a bunch of esoteric crackpots, is a bad road to have gone down it's like a guy who thinks he can play gto but says he's broke because microstakes rake is unbeatable. if you empirically looked at what philosophy has added to Loco's life the only thing is probably making him pissed off that he can't get people on the internet to agree with him. net negative.

idk to me its quite simple with RiKD.

He is a white male with above average height and IQ from a good family of high achievers, eldest male, etc. There is no reason he should be getting the results he is getting. This is an obvious output outlier.

There are 3 major outlier inputs in RiKD's life.

1. RiKD's poker experiences
2. Philosophy
3. Communism / Leftism

To me, its sort of obvious that if you are getting bottom 1% outlier results you need to look at the input variables that are 1% outliers...any common sense person would know to do this. Whether you believe Philosophy has hurt RiKD or not...to not even question it is just not a reasonable position IMO. I'm inclined to think that RiKD's demise is just a function of those 3 things and how he has handled them (dumbassness) rather than some invisible disease that mysteriously appears and disappears like some ghost.

On October 27 2021 20:38 Baalim wrote: Show nested quote + On October 27 2021 13:01 Stroggoz wrote: I'm not a big fan of the way central banks have operated, but they were basically made independent from the government decades ago and their main job is to keep inflation at a reasonable level. Their ability to control money supply can be used to deal with recessions, though they have been woefully insufficient at this task. With bitcoin you don't have any of that. So I don't get why anyone would want to replace central banks with it. You can buy bitcoins in venezeula to escape inflation but if someone has access to bitcoin, surely they can just buy US dollars as well? The US dollar is actually more stable than bitcoin. So you are in favor of bailouts? I wasn't aware of that. Bailouts only re-allocate money taking it from anybody holding cash to the bailout recipient, usually corporations, that doesn't help get out of a resesion, productiviy does, and bailing out unproductive industries isn't helping but delaying and worsening a problem.

I'm in favour of having a monetary system that can be controlled by the public, i'm not in favour of printing money for banks that then either invest finance and real estate. The part about increasing demand (consumption) is something i'm in favour of because it prevents a recession. Given the current system I think it's a necessary evil but I also think it would be possible to create an economic system that was recession-proof and reduced wasteful consumption in the long run. We arn't living in that reality yet though. So as a leftie im against both recessions and wasteful consumption-it's a hard choice on what to support.

You can print money and just give it to the public to increase consumption, as was done in australia for example-in 2008, so it doesn't have to be a system where banks just get 0% interest rate loans to do nothing with it.

I'm opposed to the euro because it means european nations can't have any control over their currency as well, although in that case it was lack of control through increased centralization, rather than decentralization.

On October 27 2021 20:48 Stroggoz wrote: Show nested quote + On October 27 2021 20:38 Baalim wrote:   On October 27 2021 13:01 Stroggoz wrote: I'm not a big fan of the way central banks have operated, but they were basically made independent from the government decades ago and their main job is to keep inflation at a reasonable level. Their ability to control money supply can be used to deal with recessions, though they have been woefully insufficient at this task. With bitcoin you don't have any of that. So I don't get why anyone would want to replace central banks with it. You can buy bitcoins in venezeula to escape inflation but if someone has access to bitcoin, surely they can just buy US dollars as well? The US dollar is actually more stable than bitcoin. So you are in favor of bailouts? I wasn't aware of that. Bailouts only re-allocate money taking it from anybody holding cash to the bailout recipient, usually corporations, that doesn't help get out of a resesion, productiviy does, and bailing out unproductive industries isn't helping but delaying and worsening a problem. I'm in favour of having a monetary system that can be controlled by the public, i'm not in favour of printing money for banks that then either invest finance and real estate. The part about increasing demand (consumption) is something i'm in favour of because it prevents a recession. Given the current system I think it's a necessary evil but I also think it would be possible to create an economic system that was recession-proof and reduced wasteful consumption in the long run. We arn't living in that reality yet though. So as a leftie im against both recessions and wasteful consumption-it's a hard choice on what to support. You can print money and just give it to the public to increase consumption, as was done in australia for example-in 2008, so it doesn't have to be a system where banks just get 0% interest rate loans to do nothing with it. I'm opposed to the euro because it means european nations can't have any control over their currency as well, although in that case it was lack of control through increased centralization, rather than decentralization.

I have no idea why you think the public is so wise and knowing.

The public is actually very dumb. This is why it baffles me when people oppose emergency authoritarianism. The public gets shit wrong all the time and too much of this leads to devastating consequences. A problem with democracy is America is exactly that -- politicians pander to the masses without any regard for whats actually good for the country in order to get elected.

For the record I oppose bailouts rich or poor.

On October 27 2021 20:40 hiems wrote: Show nested quote + On October 27 2021 17:15 Santafairy wrote: hard to say whether philosophy has hurt RiKD as we don't have a control group for him definitely destroyed Loco though. no kind of knowledge is bad by itself, but mistakenly thinking you've become wise from having obsessively read a bunch of esoteric crackpots, is a bad road to have gone down it's like a guy who thinks he can play gto but says he's broke because microstakes rake is unbeatable. if you empirically looked at what philosophy has added to Loco's life the only thing is probably making him pissed off that he can't get people on the internet to agree with him. net negative. idk to me its quite simple with RiKD. He is a white male with above average height and IQ from a good family of high achievers, eldest male, etc. There is no reason he should be getting the results he is getting. This is an obvious output outlier. There are 3 major outlier inputs in RiKD's life. 1. RiKD's poker experiences 2. Philosophy 3. Communism / Leftism To me, its sort of obvious that if you are getting bottom 1% outlier results you need to look at the input variables that are 1% outliers...any common sense person would know to do this. Whether you believe Philosophy has hurt RiKD or not...to not even question it is just not a reasonable position IMO. I'm inclined to think that RiKD's demise is just a function of those 3 things and how he has handled them (dumbassness) rather than some invisible disease that mysteriously appears and disappears like some ghost.

I think the last time I checked 85% of professional philosophers described themselves as compatibilist, meaning that they believed it is some % determinism (no free-will) and some % free-will. They did not ask the compatibilists to elaborate. What does this mean exactly?

A guy like Sartre loved to say "We are a sum of our actions." I think we are a sum of our actions regardless of deterministic push or the pull of free-will. How much am I in control? I have never felt completely free. I think the free-will types actually have an advantage but I can not force myself to believe. That is simply one way in which I am not free and there are many others.

And this is not going to turn into some introspective thing where I sit on a couch and spew my guts to you hiems. Which is what answering this question might take. And two things are already clearly there: a fear of failure and procrastination which are linked. And many more.

On October 27 2021 22:57 hiems wrote: Show nested quote + On October 27 2021 20:48 Stroggoz wrote:   On October 27 2021 20:38 Baalim wrote:   On October 27 2021 13:01 Stroggoz wrote: I'm not a big fan of the way central banks have operated, but they were basically made independent from the government decades ago and their main job is to keep inflation at a reasonable level. Their ability to control money supply can be used to deal with recessions, though they have been woefully insufficient at this task. With bitcoin you don't have any of that. So I don't get why anyone would want to replace central banks with it. You can buy bitcoins in venezeula to escape inflation but if someone has access to bitcoin, surely they can just buy US dollars as well? The US dollar is actually more stable than bitcoin. So you are in favor of bailouts? I wasn't aware of that. Bailouts only re-allocate money taking it from anybody holding cash to the bailout recipient, usually corporations, that doesn't help get out of a resesion, productiviy does, and bailing out unproductive industries isn't helping but delaying and worsening a problem. I'm in favour of having a monetary system that can be controlled by the public, i'm not in favour of printing money for banks that then either invest finance and real estate. The part about increasing demand (consumption) is something i'm in favour of because it prevents a recession. Given the current system I think it's a necessary evil but I also think it would be possible to create an economic system that was recession-proof and reduced wasteful consumption in the long run. We arn't living in that reality yet though. So as a leftie im against both recessions and wasteful consumption-it's a hard choice on what to support. You can print money and just give it to the public to increase consumption, as was done in australia for example-in 2008, so it doesn't have to be a system where banks just get 0% interest rate loans to do nothing with it. I'm opposed to the euro because it means european nations can't have any control over their currency as well, although in that case it was lack of control through increased centralization, rather than decentralization. I have no idea why you think the public is so wise and knowing. The public is actually very dumb. This is why it baffles me when people oppose emergency authoritarianism. The public gets shit wrong all the time and too much of this leads to devastating consequences. A problem with democracy is America is exactly that -- politicians pander to the masses without any regard for whats actually good for the country in order to get elected. For the record I oppose bailouts rich or poor.

It really isn't about 'bailout's'-it's a way of avoiding erratic inflation or unemployment rates. I don't care if the rich get bailed out if it mean't less suffering for people overall. The recovery plans wern't just about bailing out the rich but were also about preventing a total economic collapse like the 1930's. So there is a lot of complexity involved.

I've seen how crypto can be useful as a sort of niche thing, and a way to avoid international transfers/bank fees is a good thing. But I don't see how it would be a good idea to replace the financial system with it. It's a good thing to have control over your currency. You can devalue or increase value of a currency to adjust: inflation rate, unemployment, trade deficiets, ect. For example the US could devalue their dollar by a certain % to eliminate their trade deficit with China, if they wanted. The Euro has been a failure of a currency because it has allowed Germany to create a large trade surplus with south europe, i.e Greece, which has no monetary way of dealing with that.

I'm not really sure how investment banking would work with a crypto-based system either.

In regards to democracy, it's depressing that I have to explain this, But It isn't about the public getting things wrong-that happens all the time, it's about them knowing and deciding about what's best for themselves, which they are a lot better at than a bunch of rich oligarchs like the ones @ davos, or someone like Donald Trump. As for the good of the country, there's plenty of evidence the public cares alot more than those elites.

On October 27 2021 20:48 Stroggoz wrote: I'm in favour of having a monetary system that can be controlled by the public, i'm not in favour of printing money for banks that then either invest finance and real estate. The part about increasing demand (consumption) is something i'm in favour of because it prevents a recession. Given the current system I think it's a necessary evil but I also think it would be possible to create an economic system that was recession-proof and reduced wasteful consumption in the long run. We arn't living in that reality yet though. So as a leftie im against both recessions and wasteful consumption-it's a hard choice on what to support. You can print money and just give it to the public to increase consumption, as was done in australia for example-in 2008, so it doesn't have to be a system where banks just get 0% interest rate loans to do nothing with it. I'm opposed to the euro because it means european nations can't have any control over their currency as well, although in that case it was lack of control through increased centralization, rather than decentralization.

I never figured you for a monetarist. While I find it admiring how well handled the US economy was by the early monetarists I think its flawed in concept, to artificially increase velocity through increasing money supply can lead to leaps in growths making it seem as the economical panacea however the correction is neccesary and that for some reason isn't attributed for the same policy while you would get the same results in a production-focused economy without all the problems of an expanding and the contracting economic cycles.

Another big downside of this economic model is that hyper-demand drive economies build frivolous stuff, and whlie in paper a dollar is a dollar its not the same thing, its not the same as having your GDP based on building disposible crap than to build complex technology, the former one is whimsical and outsourceable, which is precisely why the US stopped being a manufacturing nation.

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Anyway leaving economic theory aside you are seeing Cryptocurrency wrong in a BTC maxi world, where the only currency is Bitcoin which is extremely unlikely to happen, Bitcoin is simply digital gold, and as such it's price will stabilize but it won't be a money-printing machine like it is today, Nobody invest in gold to get rich, you do to de-risk when the economy seems unstable or to flee from hyper-inflation, but if you want to put your money to work is better to put it elsewhere.

Countries will have their own cryptocurrencies many will be centralized and inflationary but the censorship resistance means that you can dump that currency if its mishandled, if you live in Argentina you will hold BTC and not your shitty arg peso which will bust the currency so it forces the government to be real careful with its supply because you won't have your population hostage to your currency as it is now.

On October 27 2021 19:54 Loco wrote: That's like saying exercising has destroyed David Goggins life and been a net negative Becoming who you are and standing on your own two feet even when no one agrees with you and they think you're crazy is a typical experience of any truly successful person You're not anybody if you haven't put yourself through shit that has destroyed you so you could build yourself back

megalomaniac lol

THEY DOUBTED CHARLES DARWIN TOO

yeah they also think the homeless guy on the subway making wolf sounds is crazy but he had the last laugh when Twilight became popular right?

you're really changing the world and taking control of your life parroting a bunch of esoteric commie bullshit everywhere