Federal Reserve to increase interest rates by 50 basis points

Re:Federal Reserve to increase interest rates by 50 basis po... by rglover on Wednesday December 14, 2022 @10:55PM (#33995012)

It’s better than democracy. Anyone can influence the direction of the network. The best ideas win (if you want to be pedantic call it a meritocracy). The status quo is a bunch of bankers, behind closed doors, determining your fate. I’m frankly horrified that you think that’s a just system.

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Re:Federal Reserve to increase interest rates by 50 basis po... by UncleMeat on Thursday December 15, 2022 @01:35AM (#33996054)

You previously used the phrase "100% democratic halving algorithm." If you want to argue that the system is better than democratic control over our financial systems then that's a completely different discussion.

I don't agree that "the best ideas win." I certainly don't agree that the halving system is a "best idea." It massively and almost permanently privileges early adopters, creating a landed gentry of the modern world in a completely unjust. The ideas most valued by a particular set of people (either the core devs or the miners, depending on how you define BTC) are what wins. That's aristocracy.

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Re:Federal Reserve to increase interest rates by 50 basis po... by rglover on Thursday December 15, 2022 @10:10AM (#34000668)

Well then I guess you're screwed.

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Re:Federal Reserve to increase interest rates by 50 basis po... by UncleMeat on Thursday December 15, 2022 @03:52PM (#34005584)

"Screw those other people" is not my idea of a just system.

I'm glad you got rich as shit off BTC. That doesn't make you a good person.

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Re:Federal Reserve to increase interest rates by 50 basis po... by rglover on Friday December 16, 2022 @03:27PM (#34019845)

It was a joke and I didn't "get rich as shit."

You would do well not to judge people so much; it's unbecoming and makes your entire point of view effortless to dismiss.

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