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mircea_popescu: when the fiat bubble is gone we will actually deflate, but the effects of THAT are not judgeable by this.
mircea_popescu: it's just that parachutes do little to protect you from falling objects.
mircea_popescu: in the sense jumping out of a plane and having a piano fall on you yield the same result.
mircea_popescu: there is no deflation caught in that discussion at all.
mircea_popescu: you can't "invest" in zimbabwe until their failrency settles down
mircea_popescu: you'd have the same difficulties if you landed in zimbabwe with a trunk full of dollars :
mircea_popescu: but this is an interfacing problem, not a deflation problem
mircea_popescu: "if all idiots vote in the wot like it is a nationalistic election, you will get a wot that works like your fucking country"
mircea_popescu: this is kind-of the gist of the old mpoe-pr post re personal responsibility
mircea_popescu: ThickAsThieves if YOU vote the wrong guy YOU are screwed.
mircea_popescu: it means few to one which groups in few to one which groups in few to one etc.
mircea_popescu: it's just that "distributed" does not mean one to many, as the nationalist representation of bork would have it.
mircea_popescu: this is how i find women, incidentally. i don't go into bars.
mircea_popescu: simple : i ask all the people who know people who pay beer tabs.
mircea_popescu: right. parft of the definition of even beeing your mates
mircea_popescu: do your beer mates try to trick you into paying for their beer ?
mircea_popescu: this doesn't seem to have anything to do with what i was saying
mircea_popescu: im not making it up in that this has in fact happened.
mircea_popescu: and the tier 3 guy goes "you know... you reall don't need to escrow mp
mircea_popescu: then one day mp wants to pay a girl in boondock, nj to wash his car with her tits
mircea_popescu: he knows of the wot, and keeps deals with some other people so he can buy/sell btc for his friends at home
mircea_popescu: they all know this guy down the street, and trust him cause he's cool
mircea_popescu: but look : ten people in boondocks, new jersey somewhere who heard of bitcoin are tier 1
mircea_popescu: these are necessarily limited in time and exceptional.
mircea_popescu: the nation model only emerges in situations where "the right thing" is plainly obvious
mircea_popescu: the problem we have now is with the nationalist state of napoleon (and the us which is really just a pale copy) having successfully attacked this natural wot
mircea_popescu: nah, a model where 90% of the population trusts 10% in chunks of ~10 individuals, and then in turn and hten in turn
mircea_popescu: basically, <KRS-> has it : people actually want to be told
mircea_popescu: make everything out of web, make everything out of blockchains, make everything out of etc.
mircea_popescu: next time you visit it's all like "yo dawg! i hear yu like marzipan so now I made everything out of marzipan!
mircea_popescu: just like some insane dood at your favourite eatery, where you once had some marzipan and like it.
mircea_popescu: and that's what the fucktarded altchainers have been doing to the internet, try to make everything out of web
mircea_popescu: asciilifeform actually postel's is great for the web. it's just that the web is NOT great for "anything"
mircea_popescu: iirc jurov was trying some experiments with giving anon users root on the box or something
mircea_popescu: well it'd better not be enough of a whore to do anything any user tells it.
mircea_popescu: what should your server do with requests it doesn't comprehend ? a. drop them b. anything else.
mircea_popescu: if you think about it, that's the stable game-theoretic solution.
mircea_popescu: nor can they understand WHY is it that you won't let them.
mircea_popescu: which is why normals can't make exchanges, or ipos, or etc.
mircea_popescu: "The problem inflationary currency bestows upon capital allocators is insolvable. They are given money of no certain value (pretty much the only sure thing about the paper currency is that it is, literally, burning in your hands, it ticks away like a bomb, it blows in the wind like dust - all this while you’re holding it) and have to do something with it. They always, always, always, absolutely always have more than
mircea_popescu: that implies that the exchange value of a negotiable instrument is only known after the negotiation completes.
mircea_popescu: (this, incidentally, is largely what soros vs bank of england was all about)
mircea_popescu: and if you could, i could write a bot to exploit your currency and make me rich
mircea_popescu: the us dollar is a negotiable credit instrument, like any paper. it does not have this "fixed" value you wish toassign it.
mircea_popescu: the reason pure mercantilist views are derided by ws today is sound tho.
mircea_popescu: how do you sort out what the word "it" means, ignoring outside inflations ?