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a_yawning_cat's profile
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@a_yawning_cat

stray thoughts, loosely held. rat jaeger.

California, USA
aycat.substack.com
Joined December 2018

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    1.  🐈‏ @a_yawning_cat Jun 1

      btc and eth have real world functions btc functionally is like art. a private form of wealth. “i’ll trade 1 picasso and 3 nakamotos for ur boat” the value leaks down to the public since the “privacy” is gatekept by price and can be overcome through fractional buying

      1 reply 0 retweets 2 likes
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    2.  🐈‏ @a_yawning_cat Jun 1

      eth has many *potential* use cases but the big one right now is powering the usd wrapper stablecoins already used by a lot of companies and individuals

      1 reply 0 retweets 1 like
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    3.  🐈‏ @a_yawning_cat Jun 1

      something u.s centrics fail to grasp is how difficult international trade is due to currency conversion from a company’s perspective, the state is just a mob that you pay “protection money” to stablecoins allow bypassing the bureaucratic hurdles that they see as extortion

      1 reply 0 retweets 1 like
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    4.  🐈‏ @a_yawning_cat Jun 1

      even the more justice hero of them all, the u.s. is considered a thug and hypocrite by many other countries and even internal individuals like chomsky

      1 reply 0 retweets 1 like
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    5.  🐈‏ @a_yawning_cat Jun 1

      defi also serves a purpose through allowing gambling, except this gambling rewards “smart” behavior like understanding options, leverage, volatility, etc...

      1 reply 0 retweets 1 like
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    6.  🐈‏ @a_yawning_cat Jun 1

      other coins are practicing to be a VC with the ease of kickstarter. being “scammed” is part and parcel of VC funding giving the win rates

      1 reply 0 retweets 1 like
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       🐈‏ @a_yawning_cat Jun 1

      everything here does leverage the unique aspect of DECENTRALIZATION putting them outside the purview of the state this is why their use cases all seem “shady”

      7:18 AM - 1 Jun 2021
      • 1 Like
      • Nobu is Elsa🧵🍫🎶 (England)
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        1. New conversation
        2.  🐈‏ @a_yawning_cat Jun 1

          this is similar to “the right to bear arms” something no sane government would actually enshrine as a value. why would you sow the seeds of your own destruction

          1 reply 0 retweets 1 like
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        3.  🐈‏ @a_yawning_cat Jun 1

          i highly suspect that the crypto haters also hate guns because they don’t understand this aspect. the vicious wild west aspect is a feature of decentralization, it’s not intended to be tamed.

          1 reply 0 retweets 1 like
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        4.  🐈‏ @a_yawning_cat Jun 1

          the u.s historically was like “ok we’ll centralize, but i reserve the right to start shooting if u fuck up.” “okey dokey that’s sounds good but i hope u remember hanlon’s razor”

          1 reply 0 retweets 1 like
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        5.  🐈‏ @a_yawning_cat Jun 1

          however, there is real VIRTUE in supporting a central state because it creates a domain of SAFETY from a rational and logical point of view, a society without guns is far better than one with guns

          1 reply 0 retweets 1 like
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        6.  🐈‏ @a_yawning_cat Jun 1

          however this idealism ignores both the corruptibility of centralization as well as the *existing* but hidden/whitewashed externalities the interiority of a mob feels like a Family

          1 reply 0 retweets 1 like
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        7.  🐈‏ @a_yawning_cat Jun 1

          just like a gun or sword on hip serves a purpose through its display, decentralization serves its purpose when it doesn’t have to be used

          1 reply 0 retweets 2 likes
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        8.  🐈‏ @a_yawning_cat Jun 1

          being able to transfer funds through stablecoins serves as an incentive for governments to reduce the byzantine process that mostly serves to maximize the surface area of grift oportunities

          1 reply 0 retweets 1 like
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        9.  🐈‏ @a_yawning_cat Jun 1

          bitcoin similarly serves as a threat against retarded monetary policies by making long term capital storage and capital flight far easier

          1 reply 0 retweets 1 like
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        10.  🐈‏ @a_yawning_cat Jun 1

          the threat is simple. centralization should only exist to the extent that it provides infrastructure to empower decentralized non-micromanaged decision making where decisions are made by those who have the most context. otherwise the users Exit

          1 reply 0 retweets 0 likes
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        11.  🐈‏ @a_yawning_cat Jun 1

          this is literally the same philosophy that the berlin wall represented. “capitalism may be imperfect but we never have had to wall in our people”

          0 replies 0 retweets 0 likes
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        12. End of conversation

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