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FluidFluxation's profile
Will 🗣️ 🌐
Will 🗣️ 🌐
Will  🗣️  🌐
@FluidFluxation

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Will  🗣️  🌐

@FluidFluxation

$I am‽ Generalist. Theorycraft.

Here, Now, Probably
Joined April 2011

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    1. (((Frances Coppola)))‏Verified account @Frances_Coppola May 15
      Replying to @Frances_Coppola @FluidFluxation @Excellion

      It's a bit rich to claim that the price is determined entirely by subjective valuation when there is a built-in price control mechanism that works by adjusting production cost.

      1 reply 0 retweets 0 likes
    2. Will  🗣️  🌐‏ @FluidFluxation May 15
      Replying to @Frances_Coppola @Excellion

      Will  🗣️  🌐 Retweeted Will  🗣️  🌐

      Agree. That built in mechanism you reference is father to the strange loops pervasive in this model.https://twitter.com/FluidFluxation/status/996310464945672192?s=19 …

      Will  🗣️  🌐 added,

      Will  🗣️  🌐 @FluidFluxation
      More economists should study quantum physics, cryptography, and network topology. Vice versa, more physicists should study Shannon/Nash game theory and read more Hayek.
      1 reply 0 retweets 0 likes
    3. (((Frances Coppola)))‏Verified account @Frances_Coppola May 15
      Replying to @FluidFluxation @Excellion

      If Bitcoin really does trade like a commodity as Satoshi said, the price adjustment mechanism can't be sustainable long-term unless users are prepared to pay miners what amounts to a subsidy to keep them producing. Farm-gate price support in the crypto world. Who'd have thought.

      1 reply 0 retweets 0 likes
    4. Will  🗣️  🌐‏ @FluidFluxation May 15
      Replying to @Frances_Coppola @Excellion

      Token emission is a protocol to facilitate more ideal bootstrapping incentives to be organically hyper-competitive game/information theoretically. Since day 0 the network has been built to incentivize fee markets. See image 2. Source: Original Whitepaper.pic.twitter.com/BNpRuVGSqM

      2 replies 0 retweets 0 likes
    5. Will  🗣️  🌐‏ @FluidFluxation May 15
      Replying to @FluidFluxation @Frances_Coppola @Excellion

      The idea that bitcoin users rent hashpower from miners is a collective delusion. Miners are the PoW Miners are the backbone of bitcoin, and the battery powering the metronome(protocols) the user symphony syncs upon.

      1 reply 0 retweets 0 likes
    6. (((Frances Coppola)))‏Verified account @Frances_Coppola May 15
      Replying to @FluidFluxation @Excellion

      I know that. Pointed it out yesterday. Without miners, Bitcoin is dead. That's why the difficulty adjustment is essential - it's effectively a subsidy to miners to keep them mining. But it's not sustainable imho.

      1 reply 0 retweets 0 likes
    7. Will  🗣️  🌐‏ @FluidFluxation May 15
      Replying to @Frances_Coppola @Excellion

      I can see that frame of reference re: DA a subsidy. Again reference the importance of bootstrapping in an immaculate conception paradigm. Regardless, if we agree on fee markets, how is this DA unsustainable, if its effect effectively neglifies over time?

      1 reply 0 retweets 0 likes
    8. (((Frances Coppola)))‏Verified account @Frances_Coppola May 15
      Replying to @FluidFluxation @Excellion

      Bootstrapping is a one-off event. It is not required for all time. Indeed the 21m limit means it cannot continue for all time. Eventually, all that remains is a fee market, and at that point transaction costs must rise enough to keep miners honest.

      2 replies 0 retweets 1 like
    9. Will  🗣️  🌐‏ @FluidFluxation May 15
      Replying to @Frances_Coppola @Excellion

      Agree. Tho, fee market economics are in play before 21m emission. New trends/loops forming now. See mempool and fee market & volatility last 10 months. The bootstrapping will continue but fade, & organic market forces will continue to build atop the entropically favorable path

      2 replies 0 retweets 0 likes
    10. (((Frances Coppola)))‏Verified account @Frances_Coppola May 15
      Replying to @FluidFluxation @Excellion

      Oh, I completely agree. Imho the fee market dynamics are already problematic.

      1 reply 0 retweets 1 like
      Will  🗣️  🌐‏ @FluidFluxation May 15
      Replying to @Frances_Coppola @Excellion

      The community is confused and problematic. The fee market is just a mirror/abstract. Its protocoligorically accurate and attuned.

      3:12 AM - 15 May 2018
      • 1 Like
      • Kiwi 🌱
      1 reply 0 retweets 1 like
        1. (((Frances Coppola)))‏Verified account @Frances_Coppola May 15
          Replying to @FluidFluxation @Excellion

          hah, that's true. Bitcoin's dynamics reflect its community.

          0 replies 0 retweets 1 like
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