🤔 could it be that simple? The entropy of quality, which I talk about sometimes. Its do obvious that something is stealing quality from the world and replacing it with bad copies. Is it **_simply_** the money machine doing it, or is the money machine merely a representation for something bigger and more insidious?
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Replies (9)
Sit and try to put out of your mind what you think you know about economics and money. Then imagine yourself in a world where every day the prices of things go down because of the expansion of human ingenuity. What would that do to your work ethic? What would that do to your inclination to save the money you make with the work you do? What would you revalue in terms of spending your time (the true scarce resource for humans.)?
Does that world look anything like the world you see before you? And the goods and services within it? Given enough introspection and Extraspection. You might find that the devaluation and the debasement of money is what drives the incongruence between the re-organization of value and goods and services.
Good thoughts, but I'm not only talking about money.
Anyways. Its taxing, thinking about it. I'm sure it'll all come out in a frustrated 🤔-note sometime.
The point is that the fact that force can separate you from your money is not the underlying cause. If it was, say, 10x more beneficial for you to cooperate than coerce, coercion would be disincentivized. Sound money DOES that. Literally every problem can be attributed in one way or another to the dissolution of the ability to convey value in the most efficient way possible.
Money machine keeps the price of commodities low to enable billions of poor get fed and clothed .. it provides liquidity to help businesses take risk and go bankrupt without fear .. it allows asset prices ( including Bitconi :-) to appreciate ..
Does it help the ones near the fountain head .. sure .. just like any thing else ..any other field ..
I agree, just not necessarily with "every." I get the bitcoin ethos. The thing I don't get is the magnitude of the problems. The... Hatefulness of it all. I would like to believe it can be solved simply by changing incentives. "Simply," lol. Anyways, I'm still being too incoherent IMO.
Jack, what's going on with UTXO bloat? Is anyone serious about fixing it? Are we just gonna let nodes become a thing only big corporations can afford?
People are working on it but I don't actually see the issue. Storage is the cheapest thing to upgrade on a computer.
I think that problem is just a feature of how the Bitcoin Core/Knots software handles chain state. Libbitcoin is working on a better solution (imo) that puts the focus where it belongs RAM and CPU optimization. People aren't going to not be able to afford the RAM and CPU that would be needed to index everything. I have said before that "UTXOs" are just one implementation's way of telling you what the chainstate is and not necessarily needed to keep a verifiable index of coins.
What are the other options? Other than UTXOs? I wouldn't have guessed that could be done... What about when 11 billion people are using it? Are we talking full closets dedicated to ram?
UTXOs are like a coin you can split and join. The other option is accounts, fuck that.
The database doesn't have to index everything. It should index in reverse and not store anything spent, and the older, the less optimized, as it's unlikely to ever be spent the further you go back.
