Could be, although fairer is probably not "worse". But indeed it could make commodities more expensive. Maybe there is a short-term vs long-term consideration.

Based on descriptions by Alex Gladstein, the IMF effectively "captures" poor economies so that they end up being forced to produce commodities not of their own choosing/interest, but chosen by the West. I don't know if this is true, but let's assume it is. Then such a country would have strongly misallocated resources, its economy being highly unproductive because the incentives suck. If many countries are in this situation, the world is presently full of highly inefficient commodity producers.

Now let's assume that these countries are (somewhat magically) freed from their shackles under a bitcoin standard. Logically, they would wind down their monoculture production of commodity X for the West, and start producing whatever they can derive the most value from, where they have a competitive advantage. Commodity X would decrease in supply, affecting prices paid in the West (and everywhere). But if X goes up substantially in market price, more producers will join. Perhaps some of the "freed" countries would be willing and able to produce X even cheaper than what it was available for before. In addition, they would progressively add more overall value to the international market than before because they produce more efficiently.

Got it. Yes, the "exorbitant privilege" of world currency seignorage would disappear. But I doubt that this privilege is truly reflected in supermarket prices, it probably gets siphoned into big pockets and never trickles down

Ha yes, a whole cultural niche would disappear

Why would those get worse?

Why would commodities be more expensive?

We all know (or believe) how things would be better under a #Bitcoin standard.

What is the flip side of the (bit)coin? Which things would get worse?

#asknostr #nostrplebs

If bitcoin were more widely known in Egypt, do you think most people would heed scholarly judgments whether bitcoin is halal, before deciding to use it?

That's why you have to announce your failover npub on your current account, which an impersonator can't do.

Yep. In a Bitcoin world, fewer things are unbuyable for no good reason.

But some things remain unbuyable for very good reason.

nostr:note1q6k8gvjckstve4eq0f2vxt7s27788dazqyw0a7xrlvf40506ll2q9nmcka

not sure how that translates to your uncouth chick example though 😂

If the money is unsound, things that are somewhat durable and scarce store value better than money itself; it makes sense to hold on to them, and to get rid of the money asap. If the money is ultrasound, it makes no sense to hold on to anything other than money, except for those things from which you gain high utility/benefit.

I think this is what @`Jeff Booth` means when he says "Scarcity in money = abundance everywhere else".

#Bitcoin

nostr:note1wydjj0gjzgefwrw6xrg3ye4kv546jt8au5swq2ncqk2h32tv8wzsfhl04u

Concerning recovery, what do you think of this?

nostr:note1utlmh036g2qvjf6373x9dzyaf4x5dvyqjhmvvkzkqkw3gjeft37q3fgvtp

Idea for account recovery, in case you lose your nsec or it gets compromised:

1. Right now, set up a "failover" nsec/npub pair. Store the information separately from your current nsec/npub pair, and publish the failover npub on #nostr.

2a. In case your current nsec gets compromised (i.e. someone else is also able to post from your account), switch to the failover nsec/npub and disavow the previous npub as compromised, pointing to the message that you published in 1.

2b. In case you lose your current nsec, locate and start using your failover nsec, and announce that you are migrating to the new npub.

In both cases, it would be beneficial if people were *already* following your failover npub.

Perhaps this logic could be integrated into #nostr directly, so that the failover npub can specified as part of the protocol, and that a client knows that when you follow someone you automatically follow their failover npub as well.

nostr:npub180cvv07tjdrrgpa0j7j7tmnyl2yr6yr7l8j4s3evf6u64th6gkwsyjh6w6 #nostrdev #asknostr

If I understand correctly, this competes with the Google login / Facebook login for websites, the advantage being that no third party is involved. However, account recovery will become the website's problem rather than Google's/Facebook's; currently, if someone forgets their Google password, they work it out with Google. If someone loses their nsec then they have to convince the website to transfer their account to a new npub.

Everyone should post at the volume they want, especially on a free protocol where clients can be tuned ad infinitum. I just want to be able to turn down the firehose

?cid=ecf05e478n2xhca3wu1y32vngmc0tgeuj9blyp237norn66m&ep=v1_gifs_search&rid=giphy.gif&ct=g

😂 no you're fine

It changes miner incentives, so definitely affects the base layer

I would say it's especially bad if it curtails their growth and prevents them from discovering and expanding into their chosen potential. It is also not fair if the family's livelihood strongly depends on the child, as this would create pressure and stress that they are not equipped to deal with

I get petty revenge and leave it to tonight me