Ask HN: As people in “tech”, are we inside an AI echo chamber?

Re:Ask HN: As people in “tech”, are we inside an AI echo cha... by zirgs on Monday July 03, 2023 @10:42AM (#36573594)

Central banks inflate their currencies on purpose to discourage hodling. Short term savings for emergencies are good. But by hodling fiat long term - you are just losing money.

Cryptobros thought that they are smarter than central banks and didn't bother to implement proper monetary policy in the Bitcoin protocol to prevent its volatility.

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Re:Ask HN: As people in “tech”, are we inside an AI echo cha... by tome on Monday July 03, 2023 @12:22PM (#36575173)

> But by hodling fiat long term - you are just losing money.

Real interest rates are typically positive, so no, you are not.

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Re:Ask HN: As people in “tech”, are we inside an AI echo cha... by hunter2_ on Monday July 03, 2023 @03:53PM (#36577968)

The concept of hodling fiat could mean cash under the mattress or could mean an interest-bearing account. It's ambiguous.

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Re:Ask HN: As people in “tech”, are we inside an AI echo cha... by eric_cc on Monday July 03, 2023 @01:27PM (#36576181)

“Proper monetary policy”

Want to elaborate? Bitcoins monetary policy is beautiful in its simplicity and predictability. In that sense, it stands in stark contrast to fiat.

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Re:Ask HN: As people in “tech”, are we inside an AI echo cha... by zirgs on Monday July 03, 2023 @05:25PM (#36579066)

A proper monetary policy would ensure price stability and predictable inflation. Bitcoin price has been all over the place, and its volatility makes it both a bad investment and a bad currency.

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Re:Ask HN: As people in “tech”, are we inside an AI echo cha... by eric_cc on Monday July 03, 2023 @05:51PM (#36579285)

Bitcoin is priced in fiat which is itself volatile. Bitcoin must detach from fiat to gain true stability.

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