It gets even more fun when you look at post modernism. Fun to mess with them, here’s how adopt a position of uniform knowledge. The moment there is any experience with that the definition is no longer subjective. Language comes from experience and the varriance approaches determinism proportional to 1/(n-1)
Here’s a consequence of this that engineers will appreciate. Our economic activity is constrained by the second law of thermodynamics. For human interactions to occur spontaneously, e.g. without coercion, the entropy gradient has to be positive (think law of mass action but for people).
Socialism violates the second law...
Does anyone in here have an academic background in economics.
I’d like to publish a paper where by using the entropy functional I resolved the Allais paradox without modifying the axioms of game theory. This creates a formal methodology for choice under uncertainty (entropy) by including entropy with the utility functional.
Tested it on Bitcoin back in 2013, just didn’t have the derivation. Now I have the derivation.
Also forgot to mention this approach derives macroeconomics from game theory
Just finished my first pull request for a project that wasn’t mine... a little late coming to the party, but at least it was for a #Bitcoin project!
Merriam-Webster Changes Definition Of ‘White Supremacist’ To ‘Anyone Who Wins In The Stock Market When They’re Not Supposed To’ https://babylonbee.com/news/merriam-webster-changes-definition-of-white-supremacist-to-anyone-who-wins-at-the-stock-market-when-theyre-not-supposed-to/
bot list: https://joejoe.github.io/mastodon
I’m shifting to Google as my ISP, $80/mo compared to Comcast’s $330/mo for symmetric 1Gb.
Bc I don’t trust Google (really Comcast for that matter) I’m setting up a server to route search email and general over Tor, a VPN for my other devices, and for streaming straight over plain Jane https where Google can see that I’m watching Netflix (might get a VPN service for that just to segregate traffic completely from Google).
Has anyone done this? I’d appreciate feedback on the concept if possible.
@Steve I thought you might get a kick out of this. We are starting our coal gasification Bitcoin mining project. Going with liquid cooling using an adiabatic tower. Building the gasifier now sized to 50kW. Next phase will introduce a retort to use the latent heat from the gasifier to produce crude, ~1bbl/short ton.
What you are doing is being Maxwell’s demon. You are trying to maximize your Helmholtz free energy. So what you need to consider is your knowledge of the distribution of outcomes (the hard part) and market volatility. This will inform which set of positions you will take.
For the record, this relationship is derived directly from the axioms underpinning game theory.
The Utility is the expectation of the payout of the trade based on the distribution of outcomes.
The entropy is the information entropy of the distribution of outcomes (expected uncertainty)
The temperature is the marginal utility of uncertainty. For the market, this is determined by the volatility. Low volatility corresponds to a high risk preference and correspondingly a high volatility corresponds to a low risk preference.
The issue comes down to how do you formally take into account uncertainty. This is actually fairly straightforward. For those of you with a physics background this is done with the canonical expression of the Helmholtz free energy:
F = U - TS
Where U is the utility, T is the temperature and S is the entropy.
Update on the Honduran “citadel” project (more of a federated Indian reservation under Delaware Common Law)
1. First district is live and moving dirt
2. Customs regulations are in place
3. Second district will soon, hopefully, go live
4. We are working on developing regulations for crypto banking and exchanges along with commodity markets.
What we created was a hack space for private government.
Bitcoin Maston Instance