Matthew Davidson (mjd) tagged bitcoin

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Matthew Davidson
Sawtell, NSW, Australia
Hypersensitive New Age Guy

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  1. @jeffcliff On reflection, I think that's the sad juvenile fantasy of # That heroic individualists can now painlessly "go Galt" and be relieved of involvement in politics or society or humanity. A technological fix for the problem of other people.

    about a month ago from web in context
  2. @jeffcliff When we get rid of the foul injustice of state currency, what then for the status quo? Does the Ayn Rand Übermensch open his # wallet and direct us all far more efficiently than democracy ever could?

    about a month ago from web in context
  3. @strypey # is more like a commodity currency than modern money. It's a financial asset with no corresponding financial liability. So nobody needs the assets to redeem their liabilities & its value is, like gold, tulips, or mortgage-backed securities, entirely speculative.

    about 2 months ago from web in context
  4. @strypey I agree, but I think the objective of "useful currency" requires an organised political constituency behind it, which # and most complementary currencies don't have.

    about 2 months ago from web in context
  5. @strypey The same transaction in # means # has to acquire Bitcoin somehow. And where someone who's left holding $AU ends up buying stuff available in $AU, usually from AU, someone who's holding Bitcoin has no incentive to make a reciprocal transaction.

    about 2 months ago from web in context
  6. @strypey Okay, I didn't get that. But the domestic fiscal balance and the current account balance are both dollar-denominated, and I don't see what problem exists that can be solved by #

    about 2 months ago from web in context
  7. @strypey The government _could_ decide to nullify tax debts with some amount of #, but that would be functionally equivalent to pegging the $ to a foreign currency or the price of some commodity.

    about 2 months ago from web in context
  8. @strypey Accepting taxes in # would be insane. It would mean surrendering the ability to use the monetary system to achieve public policy objectives. It'd be like joining a monetary union in the absence of political union. Who would do that? Oh, wait…

    about 2 months ago from web in context
  9. @strypey Money is _used_ in exchange, & also as a store of wealth, but neither is what money _is_. Money is an accounting credit. It's useful to hold & accepted in payment because it has a killer app - eg. the ability to settle taxes. #, at any price, is not money. #

    about 2 months ago from web in context
  10. #: As technologically sophisticated as Thunderbird 5. As economically sophisticated as a farmhand perched on a dry stone wall, legs swinging, cornstalk between his teeth, jar of cider by his side, and fresh timeshare contract in his pocket.

    about a year ago from web
  11. If the majority of universes are computer simulations, does that explain what # miners are really doing?

    Sunday, 27-Dec-15 17:03:11 AEDT from web
  12. "The only asset, and I use that word lightly, that's done worse than the ruble's 50 percent fall is #, which is a fake currency that techno-utopians insist is the future we don't know we want." Ouch. Zing.

    Friday, 19-Dec-14 17:18:29 AEDT from web in context
  13. # "is worse than the tulip mania. At least then you got a tulip, now you get nothing."

    Sunday, 08-Dec-13 09:05:52 AEDT from web in context
  14. Looks like it's @bushturkey's shout for lunch: #

    Tuesday, 12-Nov-13 10:47:03 AEDT from web in context
  15. @bushturkey A little bird tells me you're now advising people shift their assets from # to # commemorative coins. Is that so?

    Monday, 21-Oct-13 10:42:55 AEDT from web
  16. #: Money isn't real, and that's okay, but # doesn't understand that.

    Sunday, 14-Apr-13 19:02:39 AEST from web at 30°17'46"S 153°6'56"E
  17. Brilliant #: Forget the trillion dollar coin; the # could beat the debt ceiling by turning it's NSA spy computers into # farms!

    Thursday, 10-Jan-13 13:02:31 AEDT from web at 30°17'46"S 153°6'56"E
  18. # as a More Socially Responsible Alternative to Gold. Interesting. (via

    Wednesday, 31-Aug-11 12:44:17 AEST from web at 30°17'46"S 153°6'56"E