inflation doesn't impact the wealthy because their assets are productive and diversified, whereas inflation destroys middle and working classes because their savings are in cash and houses, and there are no productive assets cheap enough or risk adjusted for them to afford other than money market funds.
this exchange we are having reinforces that the objections to PoW and bitcoin are exclusively objections to free and counter-socialist economics, and as a category, their presumptions disqualify them from a basis in reality. if the problem is PoW is not socialist enough, it begs the question in regard to why it should be in the first place- implying it's not actually a thing.
if you model the world as a closed loop, zero-sum, finite redistribution problem, the 10k km container ship journey seems like a risk, but if you have money or something of value, you just hedge it and pick the next supplier.
in markets these are solved problems using futures contracts, and even when it crashes, nobody reverts to cannibalism. I can't say the same for planned economies[1]. Dubai, las vegas, the moon and mars will have similar economies based on currency production whether it's oil or gambling risk or bitcoin, they're the same kind of local resource-based economies.
To put this to rest, there is no niche HN worldview, like most of humanity does to get-by, people who post here generally make stuff. If it weren't it would be Comrade News, where people post about What Is To Be Done, sort of like tumblr and reddit, where nobody does anything and still mainly complains.
this exchange we are having reinforces that the objections to PoW and bitcoin are exclusively objections to free and counter-socialist economics, and as a category, their presumptions disqualify them from a basis in reality. if the problem is PoW is not socialist enough, it begs the question in regard to why it should be in the first place- implying it's not actually a thing.
if you model the world as a closed loop, zero-sum, finite redistribution problem, the 10k km container ship journey seems like a risk, but if you have money or something of value, you just hedge it and pick the next supplier.
in markets these are solved problems using futures contracts, and even when it crashes, nobody reverts to cannibalism. I can't say the same for planned economies[1]. Dubai, las vegas, the moon and mars will have similar economies based on currency production whether it's oil or gambling risk or bitcoin, they're the same kind of local resource-based economies.
To put this to rest, there is no niche HN worldview, like most of humanity does to get-by, people who post here generally make stuff. If it weren't it would be Comrade News, where people post about What Is To Be Done, sort of like tumblr and reddit, where nobody does anything and still mainly complains.
[1] https://en.wikipedia.org/wiki/Soviet_famine_of_1930%E2%80%93...