Hacker News: moralsupply

New comment by moralsupply in "Bitcoin is not a Battery – it is a Sink"

moralsupply — Sun, 28 Mar 2021 18:09:56 +0000

Go ahead and call Bitcoin a "fiat currency" if that suits your narrative.

Don't be surprised if some people laugh at your face, though.

New comment by moralsupply in "Bitcoin is not a Battery – it is a Sink"

moralsupply — Sun, 28 Mar 2021 17:39:28 +0000

A mafia or some other organization capable of enforcing rules over people could create a fiat currency too.

New comment by moralsupply in "Bitcoin is not a Battery – it is a Sink"

moralsupply — Sun, 28 Mar 2021 17:26:37 +0000

Quoting the first sentence of the Wikipedia article:

> Fiat money is a currency (a medium of exchange) established as money, often by government regulation.

As for the definition of the word "fiat": https://www.wordnik.com/words/fiat

> An arbitrary order or decree

> Authorization or sanction

New comment by moralsupply in "Bitcoin is not a Battery – it is a Sink"

moralsupply — Sun, 28 Mar 2021 17:02:55 +0000

Except that most gold being traded under the "store of value" premise doesn't exist, it's "paper gold".

Also, gold is the one most manipulated market in the world, having both banks, central banks and governments actively interfering in its price discovery.

New comment by moralsupply in "Bitcoin is not a Battery – it is a Sink"

moralsupply — Sun, 28 Mar 2021 17:00:52 +0000

How did you conclude that I was implying that USD being fiat is an argument for the use of BTC?

New comment by moralsupply in "Bitcoin is not a Battery – it is a Sink"

moralsupply — Sun, 28 Mar 2021 16:47:04 +0000

Do you know what "fiat" means? It means "mandatory".

How is Bitcoin being imposed on you?

On the other hand, if you live in the US and you decide to not use the US Dollar, you'll go to jail.

New comment by moralsupply in "Bitcoin is not a Battery – it is a Sink"

moralsupply — Sun, 28 Mar 2021 16:46:04 +0000

Feel free to keep all your wealth allocated in gold.

We'll talk again in 5 years time.

New comment by moralsupply in "Brazil’s mismanagement of Covid-19 threatens the world"

moralsupply — Sat, 27 Mar 2021 23:07:38 +0000

Following that logic China and India should be a lot more problematic than Brazil. As a matter of fact, both of those countries "mismanage" Covid-19 as well.

New comment by moralsupply in "Brazil’s mismanagement of Covid-19 threatens the world"

moralsupply — Sat, 27 Mar 2021 23:06:00 +0000

> And you must be laughably far right to call The Economist left wing. Marine Le Pen would call it a right wing paper.

Did you read the article? It doesn't follow a "right wing" tone.

New comment by moralsupply in "Brazil’s mismanagement of Covid-19 threatens the world"

moralsupply — Sat, 27 Mar 2021 22:32:47 +0000

Sweden doesn't "manage" Covid-19 according to the expectations of whoever wrote this article (no lockdowns, no masks, no "social distancing" rules, etc.).

Is Sweden "threatening the world" as well?

Or is this the usual political narrative the left-wing press uses to bash right-wing politicians?

Fed Chairman Powell Says Bitcoin Is “A Substitute for Gold” at BIS Conference

moralsupply — Mon, 22 Mar 2021 18:50:26 +0000

Article URL: https://www.youtube.com/watch?v=d8pRg1xBrjc

Comments URL: https://news.ycombinator.com/item?id=26545062

Points: 2

# Comments: 0

New comment by moralsupply in "She Came to the US to Study with Only $300 – Now She’s a NASA Director"

moralsupply — Fri, 19 Mar 2021 14:27:41 +0000

Not dismissing her accomplishments or anything, but to keep things in perspective, do understand that NASA is a government organization, and the incentives for vertical growth within government organizations are quite perverse, as they are not meritocratic and mostly related with politics.

New comment by moralsupply in "Visa Plans to Enable Bitcoin Payments at 70M Merchants"

moralsupply — Thu, 18 Mar 2021 00:58:00 +0000

Does that mean more energy will be used to mine Bitcoin and more carbon will be emitted in the atmosphere, killing turtles in the oceans and burning the remains of the Amazon forest?

New comment by moralsupply in "Why in the world would you own bonds?"

moralsupply — Wed, 17 Mar 2021 15:12:53 +0000

Bitcoin is evil as it burns forests and kills turtles in the oceans due to its energy consumption.

Buy bonds instead. They have no carbon footprint, and they are guaranteed by our governments, which only act in our best interests.

New comment by moralsupply in "Why inflation is not a threat"

moralsupply — Mon, 15 Mar 2021 16:20:32 +0000

With "low CPI" the government doesn't have to update government workers' salaries to compensate for real inflation.

In the US, 1/6 of the workforce is paid directly by the government, which indirectly generate something in the range of 30-50% of all economic activity in the country.

Hence why it's in the best interest of the government to state there's "low inflation": it doesn't have to spend too much with its payroll, while it can "profit" more from the money it prints.

New comment by moralsupply in "Why inflation is not a threat"

moralsupply — Sun, 14 Mar 2021 14:15:19 +0000

Dogecoin was created as a joke, but as money Doge is a lot more sound than any fiat currencies out there.

It's not that Doge is a bubble. The bubble is the US Dollar. (insert Doge meme image here)

New comment by moralsupply in "Why inflation is not a threat"

moralsupply — Sun, 14 Mar 2021 14:13:25 +0000

The article should be renamed to: "Why measuring inflation using the CPI is misleading"

The CPI is designed by the government in order to give it plenty of slack to keep printing money.

New comment by moralsupply in "Why inflation is not a threat"

moralsupply — Sun, 14 Mar 2021 14:10:04 +0000

The minimum wage is universally zero.

Government-mandated minimum wage is effective price control, which never works. It has the effect of taking people who are not qualified to produce enough value to justify the minimum wage out of the job market. It's a mechanism to keep poor people poor.

CPI barely reflects the actual inflation of the currency. Whatever it doesn't cover in its calculation tends to get overinflated. The government designs the CPI to be low in comparison to "real" monetary inflation so that it can get away with printing more money.

New comment by moralsupply in "Out of the top fifty games on Steam, 70% work on Linux"

moralsupply — Sat, 13 Mar 2021 21:10:50 +0000

And still we can't run Among Us on MacOS...

New comment by moralsupply in "Bill Gates Says that Bitcoin is bad For the Planet"

moralsupply — Mon, 08 Mar 2021 21:04:46 +0000

Have you noticed that recently we get at least 2-3 bitcoin "energy consumption" stories reaching the homepage every week? You're not concerned with that, but you're concerned with my posts?