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patrissimo's profile
Patri Friedman
Patri Friedman
Patri Friedman
@patrissimo

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Patri Friedman

@patrissimo

On virtue, venture, family, freedom, crypto and (of course) building startup countries on the ocean - because we need new mechanisms, not new leaders.

San Jose, CA
patrifriedman.com
Joined October 2008

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    1. jratcliff63367‏ @jratcliff Oct 28

      I have a confession; If the price of bitcoin stayed at $6,400 for the next ten years, I would be fine with that. I realize this is an incredibly unrealistic outcome and not shared by most. I'm just saying that if 'all' bitcoin does is safely protect my money, I'm cool with that.pic.twitter.com/n9eq0tDJZX

      15 replies 7 retweets 86 likes
      Show this thread
    2. nic carter‏ @nic__carter Oct 28
      Replying to @jratcliff

      agreed. success isn't price increases. it is liquidity and usefulness as a intertemporal and jurisdictional transaction instrument. but generally as these improve the value stored in the system increases.

      2 replies 0 retweets 28 likes
    3. Patri Friedman‏ @patrissimo Oct 28
      Replying to @nic__carter @jratcliff

      This is what's weird about people investing in currency rather than equity. Price and value are much less connected. (Although SoV use case is one of the few examples where they are pretty well tied together).

      2 replies 0 retweets 2 likes
    4. Boulevard A., Esq.‏ @BoulevardLP Oct 28
      Replying to @patrissimo @nic__carter @jratcliff

      People investing in #currency is not weird, and is not any different from investing in #equity, as both currency and equity appreciate in #value and are subject to price fluctuations...Just that they are different financial products with distinct characteristics...

      1 reply 0 retweets 0 likes
      Patri Friedman‏ @patrissimo Oct 28
      Replying to @BoulevardLP @nic__carter @jratcliff

      No. This is fundamentally false. Owning a share of a dividend stream is not the same as owning a currency.

      3:17 PM - 28 Oct 2018
      • 1 Like
      • jratcliff63367
      1 reply 0 retweets 1 like
        1. New conversation
        2. Boulevard A., Esq.‏ @BoulevardLP Oct 28
          Replying to @patrissimo @nic__carter @jratcliff

          What's the difference?

          1 reply 0 retweets 0 likes
        3. Adam Cooper‏ @AdamEliotCooper Oct 28
          Replying to @BoulevardLP @patrissimo and

          A currency is not a productive asset; it doesn’t represent ownership share of capital goods. Instead it value is tied to its utility as a store of value and medium of exchange.

          1 reply 0 retweets 0 likes
        4. Boulevard A., Esq.‏ @BoulevardLP Oct 28
          Replying to @AdamEliotCooper @patrissimo and

          A #currency appreciates in value = "productive asset". Stock appreciates in value = "productive asset"...

          1 reply 0 retweets 0 likes
        5. Adam Cooper‏ @AdamEliotCooper Oct 28
          Replying to @BoulevardLP @patrissimo and

          The stock is not a productive asset because it increased in value, but rather because it represents title to capital (machines, factories, 18 wheelers, etc) used in the production of more capital or consumer goods. Currency is zero sum.

          1 reply 0 retweets 0 likes
        6. Boulevard A., Esq.‏ @BoulevardLP Oct 28
          Replying to @AdamEliotCooper @patrissimo and

          The crux is that the #stock is a "productive asset" notwithstanding, and currency is a "productive asset" too...

          1 reply 0 retweets 0 likes
        7. Boulevard A., Esq.‏ @BoulevardLP Oct 28
          Replying to @BoulevardLP @AdamEliotCooper and

          There would be no money market to trade #currencies for profit, or invest in #cryptocurrencies for instance, if there is no reasonable expectation of profit, or the overall currency value appreciation... The difference between stock & currency ain't a big tell.

          1 reply 0 retweets 0 likes
        8. Boulevard A., Esq.‏ @BoulevardLP Oct 28
          Replying to @BoulevardLP @AdamEliotCooper and

          Explains why the US-SEC had to look into #bitcoin & #Ethereum to decide whether they are #securities caught by the #US federal securities #laws...

          0 replies 0 retweets 0 likes
        9. End of conversation

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