dnprock

7 ms·

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by dnprock 5y ago
Closing schools and lockdown exacerbate the inequality that has already been in place. Instead of seriously looking at how to address the problems, we blame it on lockdowns. We're taught to think that opening schools will fix the probl
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by dnprock 5y ago
For those who are confused by Taleb, I recommend reading some Eastern philosophy. It offers insights for coping with circular and contradictory life. Tao Te Ching, Yi Ching, Buddhist texts.
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by dnprock 5y ago
I have the opposite take. In bull runs, the market swings between BTC and altcoins. Dogecoin rise unintentionally benefits ETH. It weakened Bitcoin but strengthens Dogecoin and Ethereum. With this crash, people will realize that BTC is the
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by dnprock 5y ago
Elon Musk will learn that Bitcoin is difficult to control. He seems pretty confused about the market. My guess is Elon has been using Dogecoin to reign in Bitcoin. He's somewhat got what he wanted. Bitcoin has been stagnant for a few m
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by dnprock 5y ago
The chart compares Bitcoin's price performance between halvings (2016, current). Halving price series are calculated since halving date. The formula is: Projected Price = Price on the compared's mapped date / Price on the com
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Show HN: Compare Bitcoin current price performance with the 2016 halving(bitcoinvis.com)
3 points by dnprock 5y ago|1 comments
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by dnprock 6y ago
Taleb changed his mind on this subject. :) I can see Bitcoin as a "stable" long-term Store of Value. Short-term, it's always volatile. It's not suitable as a Medium of Exchange.
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by dnprock 6y ago
The problem with using Bitcoin for payments is volatility. Bitcoin's price is volatile. Bitcoin supporters say volatility will go down "at some point". The logic is pretty silly. Bitcoin is money for the people. But when the
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by dnprock 6y ago
I follow cryptocurrency and they usually say: Bitcoin Fixes This. It sounds pretty silly. Bitcoin hasn't really fixed anything. It's just a generalization. But the motto draws attention to the cause of many problems in America: th
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by dnprock 6y ago
Keynesians think money grows on tree. It is true in some senses. Apples grow on tree. At the extreme, they think money is imaginary. They can print as much as they want. Austrians think money grows from hard money. It is also true in some s
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by dnprock 6y ago
Sorry, it's not a guaranteed peg. It's more like a conversion.
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by dnprock 6y ago
It's difficult to build layers on top of the Bitcoin blockchain. The base asset, Bitcoin, is volatile. Its volatility affects the assets on 2nd layers. There isn't a one-one peg between the 2nd layer and the base chain. You'd
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by dnprock 6y ago
Because real world assets don't get minted like crypto. They are tied to physical world. They are volatile. Bitcoin produces a block every 10 minutes. It's a fairly precise schedule. On the other hand, real world assets grow and c
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by dnprock 6y ago
I don't think cryptocurrencies will replace fiat completely. They're still crypto. They have fixed rules. We still need currency "bridge" between crypto and the real world. Cryptocurrencies offer decentralized options wh
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by dnprock 6y ago
Bitcoin, Ethereum, and cryptocurrency spawn a generation of people who worship Austrian economics. This ETH upgrade is making ETH even more deflationary. People are obsessed with price and want to pump the numbers. These wars are not doing
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by dnprock 6y ago
Bitcoin is bad for the environment, for now. There is no way to value Bitcoin. It has no intrinsic value. Its valuation is a narrative. The higher the price goes, the more energy we'd spend on mining it. I call this the Bitcoin Price P
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by dnprock 6y ago
The US Dollar is supposed to be a Medium of Exchange and a Unit of Account. It is also being used as a Store of Value for countries with unstable currencies. Demand for the dollar causes trade imbalance, wealth inequality, and political pro
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by dnprock 6y ago
You're comparing want (saving) and utility (spending). They're contradictory. They have different purposes. A functioning money system needs to have: (1) A Store of Value (2) A Medium of Exchange (3) A Unit of Account. Bitcoin is
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by dnprock 6y ago
I think demand for transactions is an issue. When it fluctuates, miners' earning becomes volatile. Some blockchains, like Grin and Dogecoin, have tail emission. But that's a pretty dumb solution. The reward/supply rate would
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by dnprock 6y ago
I designed the reward schedule with 4 halvings. The schedule benefits early adopters. It is as follows: Era Reward 0 50 (10 million coins) 1 25 2 12.5 3 6.25 (21 million coins) 4 6.56 ... 10 9.85 (31 million coins) ... 30 38.11 (122 mil
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by dnprock 6y ago
I think the way to discourage hoarding behavior is inflation. Cryptocurrency follows similar models of scarcity like Bitcoin. Some cryptos have tail emission. None of them has any meaningful inflation. I designed Bitflate. It's a crypt
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by dnprock 6y ago
Bitcoin itself is real. The price of Bitcoin is a reflection of the bubbles on the other side. The other side is a simulation.
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by dnprock 6y ago
I can't justify and support these actions in the past few days. It's time for us to opt-out of these scuffles. There exists the middle. Resist the temptation to join either side.
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by dnprock 6y ago
Buddhist philosophy can help. It states that our suffering is connected to our desire. You can think of our desire as simulations. Things we want to have. And our suffering is reality. We can have endless amount of desire. With the help of
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by dnprock 6y ago
Suffering is not the same as having a reward function. If the outcome is a reward, people would opt in for suffering to get rewards. Some even cheat their ways to rewards. People do hustle porn, virtue signaling, other fake sufferings. Some
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by dnprock 6y ago
Penrose is probably correct about the limit of AI. We're living in many simulations now. And sometimes we cannot distinguish between reality and simulations. But one thing that stands out is the suffering. It's an important concep
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by dnprock 6y ago
The Airbnb experience seem like a good story if it's done voluntarily. But now we have a giant corporation "scaling" it. It seems like a good business use-case. But we already had Big Tech eating up the news. We may have Big
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by dnprock 6y ago
My dad told me how the South Vietnam government divided and excluded people. That was why they didn't have the people's support. They had better fire power. But they couldn't win the war. The communists came and reduced every
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by dnprock 6y ago
I started working on a long-term project 1.5 years ago. It's in cryptocurrency. People in crypto would call it a shitcoin project. Up until now, it's a solo project. I'm the only person working on it. Not much outside interes
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by dnprock 6y ago
This article doesn't mention that Lee Kuan Yew was a staunch supporter of the Khmer Rouge. It's a genocidal regime that killed millions of people. Lee remains a strong supporter after he knew about the genocide. He also made effor

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