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_Vimothy_'s profile
Vimothy
Vimothy
Vimothy
@_Vimothy_

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Vimothy

@_Vimothy_

Joined May 2013

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    1. Vimothy‏ @_Vimothy_ Jul 7
      Replying to @MimeticValue

      the value of a banks liabilities can be related to the value of its assets, so not purely memetic

      1 reply 0 retweets 0 likes
    2. Mimetïc Value‏ @MimeticValue Jul 7
      Replying to @_Vimothy_

      I'm trying to understand... This is accounting. I don't see how this says anything about how the behavior of money on the market is not mimetic. How a bank manages the money internally doesn't have anything to do with money as a medium of exchange.

      2 replies 0 retweets 1 like
    3. Vimothy‏ @_Vimothy_ Jul 10
      Replying to @MimeticValue

      Sorry to drop this convo earlier, travelling. A financial asset's value is not solely determined by network consensus/mimesis, it also depends on fundamentals. Money is just another fin asset in practice and is subject to same constraint.

      1 reply 0 retweets 0 likes
    4. Mimetïc Value‏ @MimeticValue Jul 10
      Replying to @_Vimothy_

      What are these constraints and how do you define money?

      1 reply 0 retweets 1 like
    5. Vimothy‏ @_Vimothy_ Jul 10
      Replying to @MimeticValue

      the constraint is that the value of a financial asset is tethered to the underlying cash-flows, indefinite divergence is not sustainable

      1 reply 0 retweets 1 like
    6. Vimothy‏ @_Vimothy_ Jul 10
      Replying to @_Vimothy_ @MimeticValue

      so bubbles eventually pop

      1 reply 0 retweets 1 like
    7. Vimothy‏ @_Vimothy_ Jul 10
      Replying to @_Vimothy_ @MimeticValue

      money I'm defining as whatever instruments circulate as money in practice. this is context dependent, eg bank deposits in a retail context, repo in wholesale

      1 reply 0 retweets 1 like
    8. Mimetïc Value‏ @MimeticValue Jul 10
      Replying to @_Vimothy_

      Sure, but that doesn't say anything about mimetic desire. The motivation for the underlying cash flows are still mimetic desire other than the most basic instinctual needs.

      2 replies 0 retweets 1 like
    9. Vimothy‏ @_Vimothy_ Jul 10
      Replying to @MimeticValue

      also you mentioned that stocks and bonds were not purely mimetic. how so? and money is? how are you distinguishing money from other credit instruments?

      1 reply 0 retweets 1 like
    10. Mimetïc Value‏ @MimeticValue Jul 10
      Replying to @_Vimothy_

      Yes, because you can do fundamental analysis for of companies for stocks and bonds. Money is the medium of exchange (mimetic/reciprocal behavior in the domain of valuation) itself.

      2 replies 0 retweets 1 like
      Vimothy‏ @_Vimothy_ Jul 10
      Replying to @MimeticValue

      now we get to the meat. what do you mean by "fundamental anaysis"?

      10:46 AM - 10 Jul 2018
      • 1 Like
      • Mimetïc Value
      3 replies 0 retweets 1 like
        1. Mimetïc Value‏ @MimeticValue Jul 10
          Replying to @_Vimothy_

          Mimetïc Value Retweeted Mimetïc Value

          Same question and reply as here:https://twitter.com/MimeticValue/status/1016741475953102861?s=19 …

          Mimetïc Value added,

          Mimetïc Value @MimeticValue
          Replying to @_Vimothy_
          Don't skip steps. Your requirement isn't money, but the labor, resources, or equipment for staying open. That's not mimetic. What is mimetic is that everyone agrees that the money can be exchanged for anything else on the market. Money has value b/c agreement via mimicry.
          0 replies 0 retweets 0 likes
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        2. Vimothy‏ @_Vimothy_ Jul 10
          Replying to @_Vimothy_ @MimeticValue

          tbc you said I haven't provided anything that shows money markets aren't mimetic, but there's no hard and fast distinction between "bonds" and "money"

          1 reply 0 retweets 0 likes
        3. Mimetïc Value‏ @MimeticValue Jul 10
          Replying to @_Vimothy_

          Huge difference. Bonds = debt, not complete settlement of account. Bonds represents the underlying assets of a government/company and need to be enforced, while gold/hard money/btc represents nothing else, and only had value due to mimetic desire (interdividual consensus).

          2 replies 0 retweets 0 likes
        4. Vimothy‏ @_Vimothy_ Jul 10
          Replying to @MimeticValue

          as Ive been arguing over and over, there is no real difference. certain debt instruments function as money in certain markets, they dont undergo some fundamental transformation at that point. they're still debt. (eg, in certain financial markets, us treasuries function as money)

          1 reply 1 retweet 0 likes
        5. Vimothy‏ @_Vimothy_ Jul 10
          Replying to @_Vimothy_ @MimeticValue

          imagine a company that buys a bunch of stocks and bonds. it finances this portfolio by issuing liabilities. the value of its assets arent purely mimetic (according to you). how about the value of its liabilities? now, call this institution a "bank" and repeat the same analysis...

          0 replies 0 retweets 0 likes
        6. End of conversation
        1. Vimothy‏ @_Vimothy_ Jul 10
          Replying to @_Vimothy_ @MimeticValue

          money is just a financial liability which although subject to complicated intermediation is ultimately a claim on real economic resources

          0 replies 0 retweets 0 likes
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