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Re:Algorithmic stablecoins are provably impossible without c... by galaxyLogic on Monday May 30, 2022 @11:33PM (#31565860)
All true but still I think there is a clear difference. Assets can and are traded in exchanges. Their value goes up and down based on what is the "shared belief" of their expected value. Laws are not traded. They can change but do so many orders of magnitudes less frequently than the value of assets on the market. Laws are not beliefs they are societal contracts.
Re:Algorithmic stablecoins are provably impossible without c... by zikzikzik on Tuesday May 31, 2022 @06:16PM (#31575601)
> Laws are not beliefs they are societal contracts.

Societal contracts are just collective beliefs. When the number of people upholding a particular societal contract goes to zero it ceases to exist. Just as any other belief, it requires believers to exist. Unlike, for example, the space rock that some group of sentient organisms decided to call Mars.

Re:Algorithmic stablecoins are provably impossible without c... by galaxyLogic on Wednesday June 01, 2022 @11:12AM (#31583012)
it is not about "believing a societal contract". It is about believing that other people follow it or not. Contract is not a belief.