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Right when I feel like the internet's becoming too corporate and optimized towards SEO for the sake of profit and profit alone, I land on a gem like this. Thank you brrr lords for bearing the webhosting cost for something fun.
It's lead generation for the project behind it.
There's no money being made here but donations it seems.
Right when I feel like the internet's becoming too corporate and optimized towards SEO for the sake of profit and profit alone, I land on a gem like this. Thank you brrr lords for bearing the webhosting cost for something fun.
ELI5?
bonus edit: Printing money could be a handy way to carry the country through the current deep structural change in the nature of the economy from one based on industry (putting capital to work) and finance (creating and allocating capital through loans) to one based on services. Instead, it's being used to prop up the existing system. The art piece is based on the widespread and faulty belief that a government's ability to create money is inherently bad.
ELI5?
A vocal subset of cryptocurrency pushers have as twisted a view on economics as mainstream economists. This is an art piece depicting one faulty view. bonus edit: Printing money could be a handy way to carry the country through the current deep structural change in the nature of the economy from one based on industry (putting capital to work) and finance (creating and allocating capital through loans) to one based on…
Printing money addressed the immediate problem of having to save people and businesses during the pandemic. Now the mess needs to be cleaned up of course but how would one have solved that pandemic problem in a crypto currency world?
Of course, if the rules of the crypto network disallow it, then institutions can't spend on future value and you get a sovereign bankruptcy situation. Few people who have lived through one would recommend it.
ELI5?
A Bitcoin-based economy would not suffer from this problem. Additionally, behold the list of extant desirable use cases for a decentralized cryptocurrency: 1. Donating to scihub 2. Reminding HN that a list with a single element in it is still a valid list.
I rather like the ability of my government to use monetary policy to create favorable environments for growth. Sometimes we get a bit ahead of ourselves and things come crashing down, but when it's good it's great.
> Additionally, behold the list of extant desirable use cases for a decentralized cryptocurrency:
There are lots of bad use cases for crypto.
1. Crypto directly enables ransomware and terrorist financing
2. Crypto creators and whales get much of the upside. Why should we reward them rather than transact with the currencies our governments use? Governments which provide an actual social safety net?
3. People can lose a lot of money with dumb mistakes. There are no support strings.