Clinamenic

θερμοδυναμικός καπιταλιστής
It would be a pyramid scheme if there wasn’t any utility to this technology. And really if crypto assets categorically constitute a pyramid scheme, so do exchange traded funds.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
But again it’s easy to mint your own token, pay some tiktok influencer to shill it, get a bunch of unscrupulous FOMO-ridden investors to ape in, pull the rug out from under them, and have no regulators do anyone any justice. It’s up to the investor to do the research.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
I mean Nonce 1, come on, you couldn't make it up if you tried. Hiding in plain sight.
Yeah I do find that a bit strange. Out of all the arbitrary portmanteaus these cryptographers could have come up with....
 

Clinamenic

θερμοδυναμικός καπιταλιστής
Check out the "nyc" channel and read the pinned messages, for info on the current pool, should you eventually want to get involved.

The pool operators said there was a minimum 150 STX contribution to enter the pool (~$350), but if you wanna get involved before you reach such a balance (i.e. if you wanna spend STX to get more NYCCoin), just let me know and we can maybe work something out.
 

luka

Well-known member
Check out the "nyc" channel and read the pinned messages, for info on the current pool, should you eventually want to get involved.

The pool operators said there was a minimum 150 STX contribution to enter the pool (~$350), but if you wanna get involved before you reach such a balance (i.e. if you wanna spend STX to get more NYCCoin), just let me know and we can maybe work something out.
this is great Stan and I appreciate your enthusiasm but this is comepltely illegible for me! it's just avatars and emojis and inc0mprehensible
jargon. i called myself Mr Big $$$$$
 

toko

Well-known member
Check out the "nyc" channel and read the pinned messages, for info on the current pool, should you eventually want to get involved.

The pool operators said there was a minimum 150 STX contribution to enter the pool (~$350), but if you wanna get involved before you reach such a balance (i.e. if you wanna spend STX to get more NYCCoin), just let me know and we can maybe work something out.

didn't really feel like reading the entire thread but I assume you are doing the citycoin.co thing but for NYC? saw it mentioned by a blog post by vitalik but never really bothered to check it out, (on account of the million other things happening in crypto). whats the best place to get documentation/tokenomics overview.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
didn't really feel like reading the entire thread but I assume you are doing the citycoin.co thing but for NYC? saw it mentioned by a blog post by vitalik but never really bothered to check it out, (on account of the million other things happening in crypto). whats the best place to get documentation/tokenomics overview.
Yeah I skimmed that post of his, where I learned about Colorado's quadratic voting and various other city-based projects I hadn't heard of, but I should read it in its entirety. His posts seem quite thorough.

And here is the official CityCoins documentation. Yes, I'm just doing NYC right now, but once I start generating more STX, I may move some of that into MiamiCoin, and eventually Austin and San Francisco if they take off.

 

Clinamenic

θερμοδυναμικός καπιταλιστής
We're about 3,000 blocks into this process, and the issuance/minting rate tapers of, not unlike Bitcoin.

Screen Shot 2021-12-05 at 6.54.47 AM.png
 

Clinamenic

θερμοδυναμικός καπιταλιστής

luka

Well-known member
fellow crypto bros what do you think of this

Dorsey’s belief in a single global cryptocurrency is not likely to happen. And, as the economist Yanis Varoufakis has pointed out, it would actually be disastrous if bitcoin did replace fiat currencies. The “bitcoin community” would have no incentive to expand the money supply in the event of a crisis. That scenario would benefit the rich holders of the coin, such as tech monopolists, investment bankers and energy oligarchs, while wrecking the lives of everyone else.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
fellow crypto bros what do you think of this

Dorsey’s belief in a single global cryptocurrency is not likely to happen. And, as the economist Yanis Varoufakis has pointed out, it would actually be disastrous if bitcoin did replace fiat currencies. The “bitcoin community” would have no incentive to expand the money supply in the event of a crisis. That scenario would benefit the rich holders of the coin, such as tech monopolists, investment bankers and energy oligarchs, while wrecking the lives of everyone else.
Yeah I'd agree that it would be disastrous. To my knowledge, there aren't any mechanisms in place to stabilize the price of BTC, so it wouldn't work as the primary currency for quotidian commerce. It can be a supplementary currency, with something the dollar or some other stable currency being the primary.

Maybe there could be a stablecoin built on top of Bitcoin, as there are for Ethereum. As I see it, Bitcoin is and will increasingly become a global currency, but it doesn't really function so as a currency as it does a speculative asset with some degree of utility. This is what vimothy and I were talking about.
 

HMGovt

Bamber Clatscoigne
@148 I.Q. Magical Thinker you might be interested in this. I'm still figuring out what it is.

Missed loot but bought bloot.

Pathdao token dropped was nice. I flipped the first 15% for 0.5 ETH. Maybe a little hasty, it went up a little after, but I've learned from bitter experience (bloot!) that sometimes you need to pass on your bag.
 

toko

Well-known member
Yeah I'd agree that it would be disastrous. To my knowledge, there aren't any mechanisms in place to stabilize the price of BTC, so it wouldn't work as the primary currency for quotidian commerce. It can be a supplementary currency, with something the dollar or some other stable currency being the primary.

Maybe there could be a stablecoin built on top of Bitcoin, as there are for Ethereum. As I see it, Bitcoin is and will increasingly become a global currency, but it doesn't really function so as a currency as it does a speculative asset with some degree of utility. This is what vimothy and I were talking about.

the problem with stablecoins, (as traditionally understood) is that most are reliant on some government agency's inflation index-- true decentralization only happens when the standard of living isn't determined by a centralized agency with obvious blind spots.

But I think there is a more general, philosophical, and normative issue that is worth unpacking. supposing we create an idealized stable coin, what ought it be stable in reference to? the traditional answer is that a currency should be stable in reference to the average cost of basic goods needed for everyday living --but this again begs the question of what constitutes the average cost of basic goods? Should we take into account rising education costs and health costs? there is a lot of implicit normative judgments that indexes like the U.S CPI assume. further, such a "stable" currency will fail to capture geographical disparities in the change of cost of living over time. when prices rise in one area due to real estate demand, you could say that our "stable" currency has failed because the same amount of currency cant buy the same amount of basic goods needed for to subsist.
 
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