on the phone:
@mslopatto: *heavy sighing* Oh... oh my god. That's so stupid. Oh my god. Why?
https://twitter.com/mslopatto/status/953419257055911937 …
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On that note - please write more about your simple bitcoin explanation! “Math Beanie Babies”
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oh that was Liz's phrasing, I just do the step by step about the decentralized ledger of blocks that pay out increasingly small rewards for propagating the network through repeatedly hashing the current block with nonces to arrive at the "correct" solution
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it's just that when you get to the part where bitcoin are speculative vehicles pegged to market supply/demand as administered by internet exchanges, you can jump to "oh, beanie babies but you don't even get the beanie baby in the end"
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the part that made her dissolve into uncontrollable laughter was when she realized that it was a really clever solution to a non-problem
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anyways that's the three tweet version of that phone call
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Love it. Thank you.
Fin de la conversation
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2% inflation is a good thing if you have a house with a mortgage, or a farm with a mortgage, Or a student loan with a fixed rate interest rate.