@jimmysong not to mention the continued jobless benefits incentivize not working. Wonder what would happen under UBI...
@bitcoinmagazine Russ Robert’s interview of Gavin Andresen’s 2011 interview.
That was my orange pill moment.
@thor I found Jordan Peterson’s collected works helped me structure my life and clarified my purpose. I was in the Navy for 10-yrs doing submarine operations. I thought I would continue in the nuclear world but quickly found it didn’t suit me. I then went on a walkabout for the better part of a decade, found Bitcoin, finished my PhD, started a company, and now build lots of different things. Don’t stress about the walkabout time. I needed to reach a quiescent state before things became clear.
@allenf the editor rejected this because he “didn’t like my tone” it passed peer review.
Need help with the economics, I can tie it in so far, but my knowledge and writing ability are limited. I’d love for someone to tell me I’m wrong and to show me where, but getting competent engagement is frustratingly difficult. It doesn’t help my writing sucks.
Before I had the theory worked out, I played around with the concept with the Bitcoin network.
Saylor misses this. It’s not hard, it’s just thermodynamics, requires rewiring the brain a titch... For the record, Bitcoin does follow the ideal gas law.
@breedlove22 money is equivalent to volume (space) in physics. The natural unit of economic utility is energy, economic action is people doing stuff in the physical world. What we exchange when we exchange money is the ability to do stuff across time and space.
With bitcoin’s programmed expansion, what we see is that by increased economic activity, temperature, the marginal utility of money increases. Whereas with fiat they try to keep the rate of expansion above the rate of activity growth.
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
@dilutionproof reason why I asked is that temperature in physics is the marginal energy of entropy and in economics it is the marginal utility of entropy. It is not dimensionless, whereas entropy is. https://statisticaleconomics.org/2014/03/13/quantifying-the-value-of-bitcoin-2/
Formally, temperature can be derived from game theory.
Bitcoin Maston Instance