Nostr

Thought for a while to reply concisely - perhaps cantillion effect applies to financial/capital wealth, but ignores overall wealth, like capitalism itself does, and thus the underrated problem with using soft money denominations for convenience

YODL 9mo ago

Reread previous reply, and maybe this helped a bit.

Agree soft money creates false appearance of better outcome. The mechanism is at least partially captured by what I'm meaning when I say Cantillion effect. The rewards are very real to the theives, and often those same theives will prefer metrics that look favorably on the outcomes they create (think this is what you're touching on)

But yeah, those are likely bad and holding us back from something better (possibly unimaginably better), which is why it feels evil (not to mention getting your pocket picked). With a hard money there'd be way less of this possible.

The theme is, for me, anything that pulls us away from p2p efficient trade (that includes use of a hard monetary tech) must have worse outcomes

Reply to this note

Please Login to reply.

Discussion

🇵🇸 whoever loves Digit 9mo ago

The freest trade is in primitive anarcho-communism also known as the "gift economy" anthropologists say we had before money

But that might not be the most optimal system in all situations

I think there are no real benefits for the thieves, they're just kleptomaniacs who need mental help because their actions have consequences

YODL 9mo ago

Give me a free milli and I'll show you real benefits for me lol. You're right on a more cosmic level maybe.

Free-est (sp?) trade is that? I'm criminally unread on anarcho anything. Trying to remedy that a bit but it kind of feels like homework when I read Austrian Econ stuff (close enough to anarcho stuff for me!).

Was gonna post something deep sounding this morning that I recently learned. Synthetic a priori proposition. Still struggling to really understand so decided to save post for another time (prob never)

🇵🇸 whoever loves Digit 9mo ago

In the gift economy, everyone just gave others what they needed knowing they would need others to do the same later

It can be argued this type of economy doesn't stimulate development of medicine and stuff without some way to manipulate it, like money/barter, but humans seem to deeply prefer a gift economy at scales where it works

A free milli might have benefits for you depending how free it really is, but theft and brainwashing have heavy cost, not very free

YODL 9mo ago

Yes yes, heavy cost... on others! Muhuhahah. Gimme

Gift economy doesn't scale (its combinatorics, and trade across distance and time where it fails), but is sort of the ideal p2p theoretical model. Lyn's book does a good job describing need for money as a technology imo.

Haven't read about example you're possibly specifically describing but that's my understanding from bitcoin books I've read

YODL 9mo ago

Had been fruitful exchange, don't write out thoughts on this often. Ty

🇵🇸 whoever loves Digit 9mo ago

Thank you too, good thoughts to type out. You've hinted at some further reading for me too 🤙

YODL 9mo ago

One specific short rec on reading that is related, this 10 minute read. Essay on Cooperation (pg 67) is good foundation for why the p2p utopia is real. Don't feel obligated to read (I don't read half stuff I say I will on here), but here's a link if interested (good book overall, full of playful subversive humor)

https://archive.org/details/BourbonForBreakfast