tmornini_ey

> it is always deflationary

Except for the fact that it is currently, and always has been, inflationary.

You need to learn more about economics.

Inflation/Deflation is a separate phenomenon than rising/falling value — though they are sometimes related.

> converting to a different currency, sending money, and converting it back

No need if you earn and spend it.

> You also get the volatility of bitcoin

Absolutely true in the short term, absolutely false in the long run. Bitcoin's volatility has statistically declined as its usage has increased.

> using it for a simple USD->USD money transfer is like using a jackhammer when you need a scalpel

Cannot argue there. The key is to stop using USD whenever possible.

Millions of people collectively losing hundreds of millions of dollars a year is less than $1/month individually.

Are you suggesting that nobody should class themselves as a developer, and/or that as self-identified developers, who I can agree are just people with a range of skills (and I never suggested otherwise), we should not attempt to write a document attempting to explain accounting to other self-proclaimed developers, who, in our decades of experience, tend to have certain viewpoints, vocabulary, and interests in common?

Finally, while I'm delighted that you agree the title isn't absolutely fascist (which you never claimed in the original post and suggest in your response it to be partially), racist or sexist, I'm entirely baffled as to why you felt compelled to post a comment stating it in absolute terms in the first place.

Thanks, happy you were not referring to our document! :-)

Sales (Incomes) are clearly equity, with Expenses being contra-equity. Not sure how anyone could come to any other conclusion, but I'll read the article and it'll probably become clear. :-)

We left all three open for commenting, which we've now disabled.

If you're suggesting accounting should be associated with deceit, you've got the cart pulling the horse!

I assume this is a joke, but if not, let's discuss.

Subledger would love to help you build that!

Thank you, could not have answered this better myself!

Also, it's by-developer, for-developer, so there's a developer's perspective as well. :-)

Thanks for your input!

We never intend to be competitive with the product layers you've described.

We've deliberately built Subledger to enable other developers to build focused custom accounting applications above us. :-)

We believe it's time to move beyond one-size-fits-all approach to accounting! :-)

Thanks for your feedback. We felt it was for developers are we're developers and this is the way we've come to describe and understand it having built Subledger.

Your point is excellent and we'll steer toward developers in the future.

Exactly correct, very nicely said!

So sorry we couldn't get you across the finish line -- you seem to be right in our target audience. :-(

> To me, accounting is a data model gone wrong. Redundancy, race conditions, unclear semantics, too generic...

I felt this once (though don't see the race conditions) but I now know there is no redundancy, the semantics are very good, and the genericity is a gigantic benefit.

Yes, in the article we describe this as from/to. :-)

Is "that article" our primer of the Martin Kleppmann piece?

Event based accounting is what Subledger is all about.

No need to summarize monthly what can be detailed continuously!

Thanks!

NICE! Thanks for those quotes!

+\- doesn't represent it better, it represents it identically...in modern terms.

balanced 2D vectors across the balance sheet, with one or many inputs and one or many outputs is an ideal visualization of a journal entry.

I agree 100%.

Cannot imagine a more valuable high school class than basic accounting.

I guess you'd agree with us that building any software that handles money should, by definition, use accounting to do so?

We believe our test suite to be a complete test of the core accounting that we implement.

Would be beautiful to have a provably correct implementation, perhaps v4!

Good point.

Do you know or believe it to be higher than most other classes?

Well said!

Sorry to hear that you didn't like it. :-(

Thanks for the links, I'll take a look!

Well said.

Many people ask us if we're GAAP compliant, and all the rest.

We just say "we are if you make the right entries!" :-)

The real deep truth is that the entire income statement is really just a subtree of retained earnings, with expenses being contra-income. :-)

In the paper we point out that it is a legacy, but I'll stop short of describing it as bad.

The legacy descends from the fact that accounting was created before negative numbers were in widespread use in Europe.

However, the columnar separation, dual accumulation, and industrial permanence suggest that it's more of a vocabulary issue than technical deficit.

Yes, accounting is that old, with the core absolutely unchanged.

Financial awarenesses sometimes hits you like a freight train!