@Ancap @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill the supply of the money commodity doesnt really matter so long as it is liquid enough and it cannot be changed arbitrarily by a central authority...
@Ancap @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill wait what? No supply does not alter demand.
@Ancap @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill ah, yes, you are right, price will be lower.... but it doesnt make it a worse money
@AlexAnarcho @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill yes it does. The characteristics of being a store of value and a unit of account are two of the three characteristics that define what money is.
@Ancap @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill money is a universally accepted medium of exchange. The store of value and unit of account are logical implications of the medium..
@AlexAnarcho @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill it will only be used as any of those if can at least have a reasonably fixed supply and stable value.
@Ancap @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill fixed supply as in not changable on a whim. Agreed. Stable value comes with volume.
@AlexAnarcho @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill why didn't the Venezuelan Bolivar achieve store of value status? it was being used my millions as a MoE
@Ancap @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill because the supply is being changed by the central bank on a whim...
@AlexAnarcho @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill it actually doesn't matter who is changing the supply
@Ancap @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill mhm... i would argue that it does. If the supply is determined by an objective line of code it can be accounted for... if it is subjected to a human, then i agree with your position.
@AlexAnarcho @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill and in the event of gold being mined from asteriods, it is subject to humans making arbitrary decisions and not objective code. Also, say there was a crypto with an 70% inflation rate (hardcoded). That crypto is still completely un-usable as a money and is definitely not a sound money.
@Ancap yeah, i totally agree there. the inflation rate - if it exists, has to be fairly low (less than 10 % for sure, pulling a number out of my behind...)
I am a big fan of the monero project and i think the static inflation of the tail emission is not a problem. hence my argument.
but you brought up valid points and i have to revise my position.
good money is:
1. durable, 2. transferable, 3. divisible, 4. recognizable, 5. fungible and 6. SCARCE.
@AlexAnarcho @StopAndDecrypt @pierre_rochard @giacomozucco @_Kevin_Pham @Bashco @nvk @Francispouliot @Ragnarly @mattodell @dandarkpill but increases in supply (inflation) does as it means that there is less demand per unit of the asset and therefore will be a lower price.