Viewing profile — arnavs

You're right to distinguish between currencies with exogenous demand (like USD) and those like BTC. But the "bank run" comment makes no sense, even for beanie babies. Bank runs exi…

One reason I dislike inflation is that I don't want my currency -- a utility object -- having opinions about my financial life. Inflationary monetary policy and its consistent 'nud…

You're right that BTC has no commodity utility outside of "being money." But I think society needs money, as much as it needs an energy source. Gold is one object that's served the…

Crypto mining produces a service, which is maintaining a ledger of payments that works in a certain way. This specific problem — settling transactions — is an industry amounting to…

I use this stack. One extension I wrote is https://github.com/quantecon/instantiatefromurl.jl , to bind generated notebooks to Julia TOML (i.e. Julia's `requirements.txt`) that liv…

Bear Stearns declined to participate in the Fed-organized bailout of LTCM. Ten years later, the Fed declined to participate in any bailout of Bear Stearns.