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hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

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Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

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    1. Brendan Bernstein‏ @BMBernstein Jul 22

      The debate around pts @naval raised is just about exhausted, but instead of banging my head against the wall I figured I'd chime in. This article discusses some of the fundamental misconceptions in crypto and the pivotal role investors playhttps://medium.com/@BMBernstein/cryptocurrencies-are-money-not-equity-30ff8d0491bb …

      17 replies 54 retweets 170 likes
    2. Hugo Nguyen‏ @hugohanoi Jul 22
      Replying to @BMBernstein @naval

      Hugo Nguyen Retweeted Hugo Nguyen

      "Unlike equity, because money is not a productive asset, holding money makes you entirely dependent on the actions of others" Yes! Although precisely because of this reason, IMHO HODLers CAN become free riders in late-stage Bitcoin. 😀https://twitter.com/hugohanoi/status/1021131553336786945 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      1/ My thoughts RE: “HODLing == free riding?” that @naval raised. Building on @real_vijay’s thoughts as well. https://twitter.com/real_vijay/status/1019804185334722560 …
      Show this thread
      2 replies 1 retweet 3 likes
    3. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jul 22
      Replying to @hugohanoi @BMBernstein @naval

      Its not really 'free-riding' though, is it? They take on massive risk and thus get rewarded in the future. > the free-rider problem occurs when those who benefit from resources, public goods, or services do not pay for them HODLers did pay for them, in *past* risk and opp. costs

      1 reply 0 retweets 2 likes
    4. Hugo Nguyen‏ @hugohanoi Jul 22
      Replying to @realLudvigArt @BMBernstein @naval

      I think it's debatable. They did pay for a portion of it by taking on early risk, but the reward (if Bitcoin hits 10 trillion cap) is not proportional to the earlier risk, IMO. 🤔

      1 reply 0 retweets 1 like
    5. Hugo Nguyen‏ @hugohanoi Jul 22
      Replying to @hugohanoi @realLudvigArt and

      Earlier risk is a fixed number, so if the reward is fair, it should not continue forever, and any extra increase in future purchasing power, past the point of hyperbitcoinization, must come from free riding.

      4 replies 0 retweets 1 like
    6. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jul 23
      Replying to @hugohanoi @BMBernstein @naval

      I feel like you’re arguing for perpetual inflation in which I disagree. Savers should be rewarded. Human civilization has proved only one thing, aggregate economic output and total human energy consumption continues to rise meaning future prices of goods should always go down.

      1 reply 0 retweets 1 like
    7. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jul 23
      Replying to @realLudvigArt @hugohanoi and

      Production for the sake of production to escape from inflation is *not* value creation. It is outright lunacy and a misallocation of resources, energy and time.

      1 reply 1 retweet 7 likes
    8. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jul 23
      Replying to @realLudvigArt @hugohanoi and

      In all honesty, the real free riders in society are those who benefit from inflation, or in other words those who benefit from the mass thievery of everyone’s wealth.

      1 reply 0 retweets 9 likes
    9. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jul 23
      Replying to @realLudvigArt @hugohanoi and

      No man should be coerced or forced to surrender their wealth at the sound of inflation. Do not be shamed as “free riders” by disgusting Keynesian fools who are the very embodiment of free riding.

      2 replies 3 retweets 9 likes
    10. Hugo Nguyen‏ @hugohanoi Jul 23
      Replying to @realLudvigArt @BMBernstein @naval

      No, I'm not arguing for inflation & agree with all those points you make about its deficiencies 😀 Inflation *is* theft! Make no mistake, Bitcoin/sound money will be an improvement over the status quo, I'm not questioning that.

      3 replies 0 retweets 2 likes
      Hugo Nguyen‏ @hugohanoi Jul 23
      Replying to @hugohanoi @realLudvigArt and

      What I'm saying is, free riding can occur even under a system of sound money. Sound money & saving alone won't solve all of our economic problems.

      1:41 AM - 23 Jul 2018
      • 2 Likes
      • Psycho Sage Melik Manukyan ⚡️ ludvigart.com
      2 replies 0 retweets 2 likes
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Jul 23
          Replying to @hugohanoi @realLudvigArt and

          > Savers should be rewarded. Only in proportion to their contribution to society. If they hoard more than contribute, it's free riding & a net negative.

          2 replies 0 retweets 0 likes
        3. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jul 23
          Replying to @hugohanoi @BMBernstein @naval

          They aren’t consuming or taking anything from society when they are saving. Free riding by definition is when one take more than he puts in. Savers put in more then they take, otherwise their savings won’t increase. I think you have it backwards.

          2 replies 0 retweets 1 like
        4. Hugo Nguyen‏ @hugohanoi Jul 23
          Replying to @realLudvigArt @BMBernstein @naval

          > Savers put in more then they take, otherwise their savings won’t increase. Not necessarily. Two people can contribute equally, but one might be in a better position to save a portion of his earnings (e.g upper-class or early Bitcoin adopters), while the other can't (the poor).

          3 replies 0 retweets 1 like
        5. Hugo Nguyen‏ @hugohanoi Jul 23
          Replying to @hugohanoi @realLudvigArt and

          Also once you've managed to reach a high level of saving, your advantage can compound, allowing you to increase saving at a quicker pace than your peers. At that point, you *can* free-ride because you've hoarded more bitcoins than most. And most people will when given the choice.

          2 replies 0 retweets 1 like
        6. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jul 23
          Replying to @hugohanoi @BMBernstein @naval

          What do you mean by compound? You don’t earn interest nor receive dividend by holding. You just have increased purchasing power.

          1 reply 0 retweets 0 likes
        7. Hugo Nguyen‏ @hugohanoi Jul 23
          Replying to @realLudvigArt @BMBernstein @naval

          I don't mean compounding in the financial sense, but in "real-life" sense. You know, like how your chance of success increases 10-fold if you went to Harvard (even though it might not be fair), or just by being born in the United States.

          2 replies 0 retweets 1 like
        8. Bryan Walker‏ @KBryanW Jul 23
          Replying to @hugohanoi @realLudvigArt and

          Saving more does not increase one's ability to save. If I have .1 BTC left after expenses each month, that's all I can save. It doesn't matter if I have 100 BTC or 0.5 BTC saved

          0 replies 0 retweets 1 like
        9. End of conversation
        1. New conversation
        2. Psycho Sage‏ @psycho_sage Jul 23
          Replying to @hugohanoi @realLudvigArt and

          When has a deflationary economics produced a $20T US style industrial economy in history with per capita income of $50k ?

          1 reply 0 retweets 0 likes
        3. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jul 23
          Replying to @psycho_sage @hugohanoi and

          We’ve had this same exact discussion the other, yet you keep repeating the same points.

          1 reply 0 retweets 0 likes
        4. Psycho Sage‏ @psycho_sage Jul 23
          Replying to @realLudvigArt @hugohanoi and

          Don’t listen to me listen to billionaire Dalio: the man runs the richest hedge fund in history: you guys are utterly wrong on inflation & rates : for more see bridgewater research : https://youtu.be/PHe0bXAIuk0 .

          1 reply 0 retweets 0 likes
        5. Bryan Walker‏ @KBryanW Jul 23
          Replying to @psycho_sage @realLudvigArt and

          Don't need an appeal to authority. Wrong about what?

          1 reply 0 retweets 1 like
        6. Psycho Sage‏ @psycho_sage Jul 23
          Replying to @KBryanW @realLudvigArt and

          Maximalists are wrong about inflation, central banking in general. Please drop you’re bias n educate yourself

          1 reply 0 retweets 0 likes
        7. Bryan Walker‏ @KBryanW Jul 23
          Replying to @psycho_sage @realLudvigArt and

          The maximalists' views come from axioms that are true a priori, generally. You will have to make a good argument to change these folks' minds. So what claims about inflation or central banking are untrue?

          1 reply 0 retweets 1 like
        8. Psycho Sage‏ @psycho_sage Jul 23
          Replying to @KBryanW @realLudvigArt and

          Please spend 30 minutes and watch that video I shared by Ray Dalio

          0 replies 0 retweets 0 likes
        9. End of conversation

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