liontwist

Interesting. If that’s the interpretation I think i need to contribute elsewhere.

I can’t trust that I’m not seeing other important perspectives here.

One of my flagged comments is “At what age would you support them?”

Many reasonable and civil comments I and others made earlier today are being flagged. Whats going on?

No. My argument is that bond defaulting is a legal status. Not a server outage. And that we are getting into larp territory with no evidence they are tampering with bonds.

Is that what the economic community is saying will happen?

Would you listen to me if you found out I had one?

I think you’re having a bad day, and I recommend taking a break.

I will not be engaging with your comments.

I dont see what evidence would be sufficient to appease you on any of these. I think you mistook an interpretive comment expressing the meaning and value of events.

I think the “middle school” comment is childish, and I think you regularly read and internalize interpretive material without the same expectation.

Well this just confirms this is hyperbole. Auditing and cutting federal agencies is not going to cause a Great Depression

Why do you think treasuries are at risk of not being paid?

- computers have outages, so I imagine they run them earlier than legally required and have procedure to detect and fix failure - computers have outages so I imagine there are legal procedures for handling issues with bond payments - if they break treasury payments trump will tell them to fuck off - this whole situation is a larp because you associated “treasury” and “bonds” in your mind and imagined that this risk exists

I’m not sure you know what SOX is.

What claims do you think needed some extra evidence in that parageaph?

Just to get technical here, you think the US bond credit rating is based on whether a cron job runs in time? And your fear is they will break the cron and won’t be able to fix the script?

I think economic and social life in the United States will continue.

I think economic and social life in the United States will continue.

This is an article about a temporary web server outage.

I don’t believe all of those are from SOX.

> I specifically meant

You didn’t leave the comment. Was that your alt account?

> it should be a baseline for national accounting

What does this mean? Let me repeat. SOX is not a method of accounting, its rules about roles and reporting for public corporations

> It sounds like you think SOX auditing means “super secure and careful accounting”.

Did they stop social security, Medicare, or Medicare?

What will happen when I pay federal taxes?

It sounds like you think SOX auditing means “super secure and careful accounting”.

SOX is a specific law with the motivation of giving markets more confidence in public stocks (for example must hire external auditors, certain board member rules, how certain assets must be valued, etc).

The SOX audit is to make sure that law is followed.

One criticism of SOX is that encouraged many startups and other businesses to remain private.

So long story short, no. Our government does not resemble a public stock corporation and these things don’t have an analog.

Are they making new accounting records?

SOX is for public corporations.

It’s week 2. I think they will have time to go after those big orgs.

But also you’re missing an important theme of the administration. Foreign aid doesn’t go to Americans. Social security and Medicare do. Trump didn’t run a tea party platform.

> More than precious bitcoin?

I’m advocating for stable currency. Not bitcoin.

> you agree this will lead to reduced prosperity

I agree that it will reduce the velocity of money and maybe “GDP”. But not prosperity, individuals being able to save wealth into the future is a better life outcome than more goods changing hands.

> and a precious asset is an inefficient medium for commerce

You are conflating liquidity with deflation. To be a currency it has to be liquid, we agree. We also agree btc is not as liquid as cash. But deflation or stability is orthogonal from liquidity.

> now you also have hodling, zero economic activity,

Already addressed. People want money to buy goods.

> my dollars don’t disappear.

The value isn’t lost in the exchange but it’s lost everyday due to inflation. And by “lost” I mean transferred to government projects.

> that money effectively does disappear from the economy.

No it merely is saved for a future consumption date. If we average consumption needs of participants in the economy there is no reason to expect a monotonic hoarding effect. That would mean consumers are not satisfying their desires for goods.

Here is one last framing. The economy is not money, it’s goods and services. Money is just a tool for claiming them. So what does an inflationary currency do to help the economy? Does it cause more people to get out of bed and create new goods and services? No. It just transfers claims to resources to someone else.

If you’re arguing that people would think harder about their purchases and frivolous spending would decline. I agree. And I think that’s a benefits

If you’re asking if people would not use their deflating currency to buy lattes and sneakers, I disagree. People like sneakers and lattes more than money. They prove this everyday by buying them instead of s&p.

There is an issue of the cost of a transaction - which nis bad for btc and s&p. Nobody wants a tax form for buying a pizza. But the regulatory environment creating high selling costs is orthogonal to the deflationary property.

But you’re wrong. People sell S&P and BTC everyday even if they aren’t dying.

This is time value of money. If I wait 20 years instead of buying a house, I can have more money. But that’s 20 years of my life I didn’t live in the house I wanted.

I could invest more in S&P and not go on vacation, but then I won’t have as much time to go on vacations.

Goods and services now can be more valuable than money later, and that’s why people sell. And that’s why deflationary currency is fine.

It’s certainly not typical - he just minmaxed the credentials to get into the top bracket.

Just unfortunate that the resources are going there.

The utility of the money is in how you spend it. Your same question could be asked about the S&P.

Why would anyone sell? Well at some point in your life you want to use the money to accomplish your life goals

Ok. But my point is many of the comments are attacking the idea of a stable currency - not btc.

I don’t own any btc. But I’m wondering why there is so much FUD about currency that doesn’t inflate.