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Hacker News: where some people legitimately believe that the entire world will abandon the current credit/monetary system, because reasons (or alternatively, "j

Hacker News: where some people legitimately believe that the entire world will abandon the current credit/monetary system, because reasons (or alternatively, "just because" - you know, to see 'how it works', because an entirely new monetary system is like testing on some FiveFinger shoes to be spontaneous). Also, Bitcoin is totally an invention by the Fed to ween people off fiat, despite the fact the Bitcoin network and its total overall volume are a joke compared to global currency trade, and basically worse, or completely irrelevant, for consumers in pretty much all cases. If there was any ever proof techno libertarian supernerds are insanely disconnected from reality, stuff like this is it. You have a better chance of actually being The Highlander. But seriously, I could write a comedy novel about this stuff at this point - so do continue to go on.

AC__ 11y ago
I'm disconnected from reality? So how do you view the global monetary system working 10 years from now? Will the world be using U.S. petro-dollars? Can the fed print off another hundred TRILLION and avoid hyper-inflation. Like it is all well and good to say I have my head up my ass but can you give me some of these answers?
- task_queue 11y ago
  Why would the world shift from a currency that is economically and politically entrenched via trade and treaty? What would Bitcoin solve that the USD doesn't? Why would the world accept a technological "solution" whose implementation already contains dire technical problems? What makes you think hyperinflation is a realistic outcome? If I grant you a world that decides fiat model is Bad, why would they choose a system that is inherently centralized? One whose early adopters and hoarders have been manipulating the crypto-currency market for their advantage for years? One whose transaction history is public to _everyone_? One that only has a handful of gatekeepers, that have been proven to work with governments and have been caught delaying transactions to profit from the change in the price in Bitcoin?
- thoughtpolice 11y ago
  I don't know, will the Fed also use Jedi Mind Tricks to mind control us into submission while flouride and chemtrails are just a red herring? News at 11! I find it thoroughly hilarious that when someone pokes at your original assertion that "the whole monetary system is going to collapse" - a completely unsubstantiated claim that is hilarious at face value - you shriek about "well what about hyperinflation?!?!?! explain that, checkmate bro" I could ask you "what does Bitcoin do that USD doesn't", "how will bitcoin topple an international system bound by trade and agreement to minimize risk", "what about bitcoin's obviously huge deflation problem", "what about the huge amount of flaws in bitcoin's implementation today", or - just spitballing here - "why the fuck would super hyperinflation actually happen", which was your original claim... But why bother? It's much more easy to watch you try to justify it in weirdo ways with claims about infinite money and what amounts to bigfoot. You know, the same way people like Ron Paul robots have been doing since 1981: http://ron-paul.tumblr.com/post/25365125/i-believe-such-a-standard-to-be-not-only-desirable http://ron-paul.tumblr.com/post/25365125/i-believe-such-a-st.... The only difference now is instead of libertarians having a goldbug, they have a bitcoin bug. Or maybe Ron Paul was right and hyperinflation has actually been going on since 1981, omg?!?! And to answer your first question: yes, techno singularity nerds are absolutely disconnected from reality if they think the magics of The Blockchain are the solution to actual economic woes, or hell, even daily financial ones for ordinary people. After all, I forgot how much I want a global network that can only do < 10 TPS, doesn't have fraud prevention, and is surprisingly non-anonymous, as well as ridiculously power inefficient. VisaNet only does close to 50,000 TPS with essentially zero downtime globally per year - why's that a big deal?
  - AC__ 11y ago
    "Some studies suggested that even slightly increased fluoride exposure could be toxic to the brain. Thus, children in high-fluoride areas had significantly lower IQ scores than those who lived in low-fluoride areas. " - http://www.hsph.harvard.edu/news/features/fluoride-childrens-health-grandjean-choi/ http://www.hsph.harvard.edu/news/features/fluoride-childrens... Sorry to burst your bubble brother, if you don't think solar radiation management("chemtrails") is happening you're wrong again. https://www.youtube.com/watch?v=a4s1qNJpko8 https://www.youtube.com/watch?v=a4s1qNJpko8 Now as for inflation..well I don't think there's much of a conspiracy there.
deleted 11y ago
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AC__ 11y ago

I'm disconnected from reality? So how do you view the global monetary system working 10 years from now? Will the world be using U.S. petro-dollars? Can the fed print off another hundred TRILLION and avoid hyper-inflation. Like it is all well and good to say I have my head up my ass but can you give me some of these answers?

task_queue 11y ago
Why would the world shift from a currency that is economically and politically entrenched via trade and treaty? What would Bitcoin solve that the USD doesn't? Why would the world accept a technological "solution" whose implementation already contains dire technical problems? What makes you think hyperinflation is a realistic outcome? If I grant you a world that decides fiat model is Bad, why would they choose a system that is inherently centralized? One whose early adopters and hoarders have been manipulating the crypto-currency market for their advantage for years? One whose transaction history is public to _everyone_? One that only has a handful of gatekeepers, that have been proven to work with governments and have been caught delaying transactions to profit from the change in the price in Bitcoin?
thoughtpolice 11y ago
I don't know, will the Fed also use Jedi Mind Tricks to mind control us into submission while flouride and chemtrails are just a red herring? News at 11! I find it thoroughly hilarious that when someone pokes at your original assertion that "the whole monetary system is going to collapse" - a completely unsubstantiated claim that is hilarious at face value - you shriek about "well what about hyperinflation?!?!?! explain that, checkmate bro" I could ask you "what does Bitcoin do that USD doesn't", "how will bitcoin topple an international system bound by trade and agreement to minimize risk", "what about bitcoin's obviously huge deflation problem", "what about the huge amount of flaws in bitcoin's implementation today", or - just spitballing here - "why the fuck would super hyperinflation actually happen", which was your original claim... But why bother? It's much more easy to watch you try to justify it in weirdo ways with claims about infinite money and what amounts to bigfoot. You know, the same way people like Ron Paul robots have been doing since 1981: http://ron-paul.tumblr.com/post/25365125/i-believe-such-a-standard-to-be-not-only-desirable http://ron-paul.tumblr.com/post/25365125/i-believe-such-a-st.... The only difference now is instead of libertarians having a goldbug, they have a bitcoin bug. Or maybe Ron Paul was right and hyperinflation has actually been going on since 1981, omg?!?! And to answer your first question: yes, techno singularity nerds are absolutely disconnected from reality if they think the magics of The Blockchain are the solution to actual economic woes, or hell, even daily financial ones for ordinary people. After all, I forgot how much I want a global network that can only do < 10 TPS, doesn't have fraud prevention, and is surprisingly non-anonymous, as well as ridiculously power inefficient. VisaNet only does close to 50,000 TPS with essentially zero downtime globally per year - why's that a big deal?
- AC__ 11y ago
  "Some studies suggested that even slightly increased fluoride exposure could be toxic to the brain. Thus, children in high-fluoride areas had significantly lower IQ scores than those who lived in low-fluoride areas. " - http://www.hsph.harvard.edu/news/features/fluoride-childrens-health-grandjean-choi/ http://www.hsph.harvard.edu/news/features/fluoride-childrens... Sorry to burst your bubble brother, if you don't think solar radiation management("chemtrails") is happening you're wrong again. https://www.youtube.com/watch?v=a4s1qNJpko8 https://www.youtube.com/watch?v=a4s1qNJpko8 Now as for inflation..well I don't think there's much of a conspiracy there.

deleted 11y ago

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