seigniorage is uniquely bad because it fucks up prices by generating lots and lots of inflation this in turn fucks up everything else that people try to do
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I'll give some examples but a nice read for background on why fucking up prices willy nilly is bad is The Use of Knowledge in Society, by Hayek Dozen pages, plain English, great paper Anyway
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Anyway suppose you adopt seignorage and are generating inflation at say a nice 50% annual rate This means that the price of things will double in less than two years Are you signing a contract? Better figure out how to account for that Hope you can do that math in your head
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Your salary will need to be adjusted or you will find yourself very poor very quickly, good luck predicting Lending a buddy money? Suddenly repayment on time matters a lot more Run a restaurant? Youll be printing menus quite a lot
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All of this is difficult to deal with day to day but there's more Suddenly holding onto cash becomes costly You'll want to be shifting it into "real" denominated assets as much as possible--assets that are Things like houses or cars Better hope they don't depreciate
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All of this is a pain in the ass but possibly manageable if the government does a perfect job of keeping inflation at a stable rate Hahahahaha yeah I don't think it would either Anyway good luckpic.twitter.com/8IjgzFNh9Y
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Replying to @eigenrobot
apropos, do u have contact with morlock, maybe from hun? want to stay in touch; he seems to be lost to twtr ironically reminded me of him because he’s so brutally out of sense on fiat :D
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Replying to @ITBeHa
I'm expecting he'll be back--I'll let you know. :) Not in contact day to day but he's doing extremely well rn
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Replying to @eigenrobot
yeah i knew that, i just want to pester him :D same nick on tg ;)
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Replying to @ITBeHa @eigenrobot
btw while I”m being annoying and extremely anti-approprate, I”m highly looking foward to a fresh moon bot around xmas, send regards and all the best
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Probably more like this time next year given (logistics) but



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