414200+ entries in 0.159s
mircea_popescu: having one of the 100 coins in an empire makes you like a guy having1 of the 100 coins in another empire.
mircea_popescu: the 55 dollar per gram is misleading. they had much less gold available at the time, and different economy.
mircea_popescu: accounting for the rarity of gold/economy differential and everything... i just came up with 100k
mircea_popescu: if something like that happens again, the local scrip is backed by bitcoin instantly.
mircea_popescu: i think more of an exploratory "what is bitcoin really"
mircea_popescu: does not make the currency "that which is exchanged for one egg"
mircea_popescu: that currency slowly made it's way into the hands of the poor, in ever smaller denominations, sizes and metals, silver, copper, tin
mircea_popescu: athens used it to settle large scale trade, again much like btc is used today.
mircea_popescu: the greeks were split on the topic. sparta banned all currency
mircea_popescu: the original currency unit was worth in the $100k range in today's terms.
mircea_popescu: (ie, shop owner has a notebook, marks down your eggs, gets paid once a month)
mircea_popescu: incidentally, in most of the world eggs are primarily bought on notebook credit
mircea_popescu: i dunno that many people care about this in a discussion of "a good handgun"
mircea_popescu: while some handguns are more apt for that purpose than others
mircea_popescu: but you mean by currency something that's just a very edge case of what a currency may do
mircea_popescu: i guess someone could trade about 3 semi tractor trailers' load of eggs
mircea_popescu: but that does not mean that your google shares aren't what your eggs are ultimately bought with
mircea_popescu: you notably can't buy eggs directly with google shares.
mircea_popescu: i would think that's exactly it. buying btc is buying shares in the new world order.
mircea_popescu: i imagine the way it'd work out in practice is you sell out some satoshi for a wad of zimbabew dollars or w/e
mircea_popescu: once btc reflects its true value (ie, fiat M3 / btc m3) you can pretty much count that forever more you'll get an egg for 3 satoshi or w/e that works out to
mircea_popescu: bgupta i wouldsay the 500 eggs for 1 btc is mostly an effect of btc price being de facto supressed through ignorance/it being new
mircea_popescu: pretty much the only us citizens that like taxes are those who get a net benefit from govt servicing.
mircea_popescu: or moreover, of the incredibly brokedness of socialism as a form of govt.
mircea_popescu: (tho the fact that the mob defeats socialist states everywhere, from russia to iran and etc) is pretty good proof of the superiority of the system
mircea_popescu: this amply proves why central socialist govt is worse than the mob
mircea_popescu: there's currently a trolling technique called "swatting".
mircea_popescu: this idea that we're all equal and so forth is pernicious.
mircea_popescu: they burn, they get redeveloped into houses for rich people, the poor get to live in as servants
mircea_popescu: anyway. if greek remaining bits are any indication, political debate would move to include a large chunk of "let me tell you how much i've donated"
mircea_popescu: perfect example of marketplace curtailing political idiocy.
mircea_popescu: so within a few weeks tsa would break down and go away/
mircea_popescu: bgupta i would absolutely not pay a cent for the tsa say
mircea_popescu: if you propose paying for no service however, that ain't happening and is going away.
mircea_popescu: why would anyone be the sucker paying for restaurant meals ?
mircea_popescu: bgupta that is the problem of the people getting paid. klet them explain it.
mircea_popescu: basically he's saying "hehehe, i can shelter from tax, therefore you should tax those who can't do it more"
mircea_popescu: "more taxes" won't touch buffet any more than the current taxes do. however, it WILL make whatever business less profitable, and thus less able to produce "nouveau riches"
mircea_popescu: then politics works as an attempt by the billionaire to use the mob[ile vulgus] as a sort of scarecrow to keep the middle class threading water.
mircea_popescu: very abridgedly : if you have a bn dollars you pay about 3-5% in tax, or w/e you want.
mircea_popescu: and b. his only purpose is to fuck up anyone threatening to join his club.
mircea_popescu: the fact is that a. he's only not being taxed because he isn't paying himself a salary (because he doesn't need to)
mircea_popescu: people like buffett, who already made it, come up with "we're not taxed enough" sort of statements.
mircea_popescu: benkay numbers intended for exemplification purposes only.
mircea_popescu: bye bye inheritance tax means the system's lifetime is already capped to about 3 generations.
mircea_popescu: one excellent case study of how bitcoin is irretrievably destroying the socialist paradigm.
mircea_popescu: but certainly the passing down would be one way to do it, and that's why inheritance is taxed to fuck.
mircea_popescu: but if you get even close to that barrier it's like superficial tension in a water dropplet al oof a sudden
mircea_popescu: the only thingthat's not ok is to get out of the poor into the rich. everytjhing else is fine,
mircea_popescu: benkay have you considered how taxation works in the us for instance ?
mircea_popescu: of course the socialistoid governments of the uncivilised world would very much prefer a population of poor only.
mircea_popescu: so if you're abny good at it eventually you should accumulate enough wealth to not be poor.
mircea_popescu: if you make 50k a year in rents and interests you're not poor.
mircea_popescu: the poor is any one individual that does not own enough real property or capital to produce one average wage out of its use alone.
mircea_popescu: benkay nah. friction is bleeding money off productive uses into the toilet.
mircea_popescu: just like a good baseball bat is one that doesn't lower the batter's average.
mircea_popescu: once you've read that my definition will make more sense. it is "a good currency is one that doesn't introduce friction for capital allocation"