Comments by "k98killer" (@k98killer) on "Mark Moss" channel.

  1. I love this. You've pulled together all the disparate things that have been bouncing around in my head for months into a cohesive and convincing exposition. Thank you, Mark.
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  2. Mark et al. have been on point. Really satisfying to see a channel grow like this over the last several years. Top notch. Also, if you want help moderating to remove the impersonators/scammers, I volunteer.
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  3. It's really sad that you lost it all in a conveniently timed boating accident in your backyard pool. Tragic, really. A damn shame.
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  4. The vast majority of covid relief funds went into corporate coffers.
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  5. Do not accept the mark of the Fed.
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  6. For those who are technically inclined, it is worthwhile to test new setups with small amounts: make sure that you can send to and from the multi-sig wallet before committing large parts of your hodl.
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  7. To be fair, though the debt snowball strategy does not optimize for accruing less interest cost over all, it does have two things going for it: 1) when the smallest debt is paid off, the debt maintenance payments for it cease, allowing the debtor to roll those payments into paying off the next debt; 2) the psychological effect of getting that small win at the outset helps maintain the resolve to complete the mission.
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  8. It depends entirely upon the Cantillon effect: what kind of credit will be expanded; who will benefit from it; and what will they demand with their purchasing power. If they print a quadrillion dollars and park it on the moon, but no money or credit enters the real economy to fund consumption, then we would likely experience deflation. If they print just enough to keep the global monetary system from imploding, and it is enough to get the banks to create more eurodollars to fund global production without increasing consumption demand, we might actually see our lives improve a bit. But the current trajectory is something like the Bronze Age collapse, where the "sea people" knock down one civilization after the other, and only the mightiest empire is left standing just long enough to collapse from losing all its trading partners.
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  9. Decentralization is more resilient than centralization. Centralization is more efficient than decentralization when the centralized system is competent. Central planners have no meaningful feedback mechanism to select for competence. Perhaps if the feedback mechanism itself was enforced by a decentralized system, then maybe we could afford to trade some resilience for efficiency. But currently, I have no confidence in central planners to exhibit any amount of competence.
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  10. Even during the gold standard, people still regularly held assets instead of gold. The Theory of Money and Credit by Ludwig von Mises describes this in his analysis of the varying levels of demand for money and money substitutes.
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  11. The only way they could enforce that kind of control with a CBDC is to have all of the grocery stores supply all of their inventory data. Ultimately, it is unenforceable without huge enforcement efforts.
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  12. Smiling from ear to ear listening to this malarkey
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  13. For those who want to short it, just be aware of the high carry costs for maintaining a short position. It really does not look like there will be much profit to be had during this slow grind downward.
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  14. All you think about is accumulate more ETH, eh? So never a thought about the shady 60% premine, frequent blockchain rollbacks invalidating the core principle of immutability, or perhaps the size of the blockchain being so large that you can't run your own node at home? Ethereans are deluded if they seriously believe that Eth will somehow become a stronger, sounder money than Bitcoin.
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  15. Fresh perspective. This particular interview of someone with that perspective seems unique to this channel -- I do not think I've heard anyone else articulate this point of view. I think it has merit, though there appear to be some short-term deflationary issues coming to bear in the global economy with continuous supply chain issues and Chinese corporate bond defaults. The issue may be that the dollar is trying to be both exogenous and endogenous money, blurring all the lines that would allow one to easily distinguish discrete effects.
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  16. This is one of the best videos from this channel this year. Very well spoken and well organized.
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  17. I appreciate the candid disclaimer. It is a display of integrity imo. On the topic of markets going wild, I had a dream after the pandemic began that I was standing on some rubble that used to be a house and watching wild financial market swings on my phone.
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  18. Still ok to resent the debt slavery system just as long as that resentment does not stop you from opting out.
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  19. I first heard excerpts from that SBF interview on a CoffeeZilla video.
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  20. The proper name of the "butterfly effect" is Chaos Theory, and it is essentially the study of stochastic systems. The point of Chaos Theory is that the end result from a minor perturbation in starting conditions cannot be predicted and can normally be understood only in hindsight.
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  21. "Massive people protesting" made me think of obese people blocking the roads with their mobility scooters lol
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  22. I hate when technical issues interfere with my work. I know that frustration all too well. Glad you were able to power through it and salvage the situation.
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  23. Well, to be fair, we do not have concentration camps in the US. The ChiNazis are literally sterilizing and harvesting hair and organs from minority populations that they've rounded up. The mechanism of the state seizing the means of production is also different: instead of bloody revolution, the monetary authorities have decided to simply encumber everything in debt with a debt-based currency system. The Fed is keeping the zombie companies alive long enough to outlast and buy up any competition so that eventually only the companies beholden to the central bankers will be left standing. However, I do not think the Fed will actually leave this decade alive -- it is rather likely imo that fractional reserve debt-backed currency is about to die.
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  24. I lost all my alleged non-imaginary wealth in an alleged imaginary boating accident, allegedly.
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  25. I would love for something like this in my state.
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  26. I've invested in expandable batons to sell to people who want to beat inflation.
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  27. Mesh networking is the future of communication imo. The greatest flaw with the Internet Protocol is the hierarchical nature of number assignment flowing from one central authority. I'm working on something that can replace that model, but the math is convoluted and difficult.
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  28. Small update 02/26: Trudolf has ended the so-called emergency, but the ex post facto bill of attainder effects were not rolled back.
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  29. Remember, they say that they are targeting an average CPI of 2.5%. If they want to retain any credibility, they'll have to keep rates higher for longer so that even the funny CPI numbers can bring that average down below 2.5% before they pivot. However, if they want to avoid bankruptcy, they either need to lower rates or raise capital in Q2.
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  30. Technically, Keynes said to apply contractionary policies during booms. Keynesians conveniently forget that part.
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  31.  @Alex-qn3me  The petro dollar has never been as significant as the aircraft carrier dollar.
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  32. The rise of gold- and silver-backed tokens along with decentralized finance will be the nail in the Federal Reserve Note's coffin.
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  33. Just dropping a little comment here to say that I appreciate your work here, Mark. You have pursued this project with an uncommon level of integrity. Regarding the topic of the video, I tend to agree with the thesis that fiat currencies will continue to destabilize, but I do hope that we can continue to enjoy a period of relative reprieve for at least a little bit longer. The alternatives to fiat are not yet well enough developed to bear the burden of securing and enabling the world's commerce, and I worry that too much monetary chaos too quickly may lead to something much worse than a monetary regime change.
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  34. Holy shit.
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  35.  @renaissanceman5847  If decentralized networks can exist at the application layer, it stands to reason that one can be built at the network layer. It is not an easy task, but I think I will have a workable system once I iron out the mathematics (my calculus is a bit rusty; if you know how to do trilateration in 4 dimensions using minimum squared error or minimum mean squared error, lmk).
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  36. A global liquidity cycle video is an excellent idea.
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  37.  @davidraborn3654  I go hunting, but I'm not a Hunter.
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  38. He likely won't put too many more of these on his channel in the future since this was just to introduce us to his iHeartRadio show. Shouldn't be too difficult to find his show on podcast platforms.
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  39. Imo it does not make too much sense to position a portfolio for black swan events other than buying some volatility hedges when they are cheap. Having a plan to execute during times of volatility is probably the better strategy.
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  40. Very few new monetary systems stick for very long.
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  41. I always figured that the best buying opportunity would be when nobody can afford to invest.
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  42. Editor missed the queue to play the video from the Canadian Parliament 16:35.
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  43. There's an argument that they need to raise the yield curve above inflation expectations at each maturity. Since CPI is a lagging indicator, it can be easily argued that the proper over night rate should be closer to the month-over-month CPI change than the yearly CPI change. My guess from the numbers I've seen is that they will enter America into the current global recession, but they won't be able to get CPI below 5% due to rents lagging the rest of the housing market and providing persistent upwards pressure for at least another year.
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  44.  @nickcarducci3413  ever heard the saying that "the pen is mightier than the sword"?
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  45. The natural state of humanity is the gift economy.
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  46. Things are the way they are because Fed bureaucracy selects for obedience and groupthink instead of competence. This is why Joseph Wang quit working there.
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  47. Also, Eth is not an innovation of BTC's network. Bitcoin uses the unspent transaction output (UTXO) model. Ethereum uses the account/balance model. If any of these smart chains is an innovation on a core Bitcoin technology, it would be Cardano with its extended UTXO and Beam with its confidential DeFi system using MimbleWimble UTXOs.
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  48.  @jo3agle  my contention is that Ethereum is neither an innovation on Bitcoin nor a project setup for sustainable, long term growth. In the short term, anything can happen; in the long term, markets are weighing machines.
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  49. My friend said that the "awakened lions" thing is a bit corny, but everyone likes corn because it is tasty lol
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  50. That transition though. I was listening to it like a podcast and thought "wtf was that". Then I turned on the screen, rewound a bit, and saw it was exactly what it sounded like. Kind of perfect.
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