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frphank
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Autopoietic. Scratching things from chaos. Homesteading the noösphere. Opportunity farmer: Reading things that are not yet on the page. Haskell. Dollars only, thanks.
Replying to Avatar elsat

nostr:npub1g7lqk25fl24xd0zh7hr8jgp5smdy2eszjh9nmv7z7w85h6xcs9hq4u8yd9 imagine you are measuring your nephew’s height. He is a healthy young lad visibly progressing well.

Your ruler uses cm or inches - whatever your preference is.

All of a sudden the international society of ruler central planners decree that today’s cm/inches are 40% smaller than yesterday’s cm/inches.

Did your nephew grow 40% in height overnight?

This is fiat central planning in a nutshell. All economic calculation is persistently and periodically rugged.

I see that fiat loses value. I can see it every day. But I can still buy "something". I can't buy anything with Bitcoin other than fiat.

How does regulation work without a monopoly? There'll be different 5 rules and you can just choose which to follow?

With price instability there is literally no way a circular economy can happen. The absence of a Bitcoin circular economy is not due to laziness or evil forces. Any business trying to operate on Bitcoin will fail on short notice.

Fiat exists so that the supply of money can grow and shrink according to the size of the economy, matching the products and services on offer, keeping prices stable.

Btw nostr:nprofile1qqs99d9qw67th0wr5xh05de4s9k0wjvnkxudkgptq8yg83vtulad30gpzpmhxue69uhkummnw3ezumrpdejqz9thwden5te0dp5hxapwdehhxarj9ekxzmnyqyv8wumn8ghj7un9d3shjtnwdaehw6r9wfjjucm0d5eechmk how are the wet wipes going.

Translating this note: nostr:nevent1qqsg0kzyvh2az936g0j638wfmxp5976prz32sykwgxef892yc6t3llspz9mhxue69uhkummnw3ezuamfdejj7q3qetqwgv34spk6p98s0pa9kp8zntgyevdrcl49eas7mswr8pe5pq4sxpqqqqqqzgpccga

Kagi: "I need to explain how to show off with mate🧉, there's a whole guide from local idiots. I'm just getting into it, but it's already scary."

Google: "I need to tell you how to show off with mate🧉, our domestic idiots have a whole guide there. I'm just getting the hang of it, but it's already scary."

Some differences. Which one's closer to the truth? I don't speak Russian.

But the supply needs to grow & shrink as needed. If/when the economy shrinks, the supply needs to shrink.

Fiat central banks have very limited ability to shrink the supply that's why there was an oversupply of money when the economy shrank during Covid and we're still feeling the consequences of that.

Monero's only ability to shrink the supply is through attrition which is even worse.

Fiat central banks also have limited ability to grow the supply, mostly limited by interest rates not being able to be below zero.

Monero's ability to grow the supply is even worse. Especially during a purported adoption phase when the Monero economy grows massively the supply also needs to be massively increased for prices to remain stable.

Well then you want stable prices for heaters, not for Monero.

You won't achieve those with a currency that's fixed in supply.