 would,
but the sheer amount of dreamy speculation like this is exactly what keeps me
away from the market.

~~~
ramontayag
By "effects of deflation", are you referring to the claimed ill-effects of
deflation, that will grind the economy to a halt? If so, mind helping me
understand why I can't disregard that?

I appreciate your replies - not sure if I mentioned it earlier to you, but I
posted it here in HN because there is no shortage of smart people willing to
express their thoughts.

~~~
kylnew
It's a concern I have about deflationary currencies in general. It's not very
common in the world right now so you could argue I'm speculating too, really.

You are talking about the singularity being the point that we switch to crypto
currency. I suppose my argument is that the singularity may not come because
of deflation counteracting and convincing people to continue holding.

All in all I'm glad it's been such a diplomatic discussion. I would engage
people the same way if I were you and appreciate that you seek new
information.

~~~
ramontayag
I understand - I'm not aware of an asset class like bitcoin and the other
cryptocurrencies, so I have to go with opinion and extrapolation for a lot of
the thinking. :)

It sounds like what you said is that the singularity may not happen because
cryptocurrency deflation will make cryptocurrencies more attractive to hold
compared to inflationary fiat. I'm fairly certain I understood it wrong.

Won't people move more of the money into deflationary currencies if they are
accessible and exchange friction between the inflationary one and deflationary
one is acceptable?

I appreciate the appreciation!

------
leot
Per the other comments here, the applicability of Gresham's law as the author
describes is questionable.

However, the author's broader point appears to be that the economic impact of
a deflationary currency is largely unknown, and as expressed is worth
considering. IANAE, but it seems at least conceptually possible that there
could be an economy in which every actor's rational decision was to always buy
some token because it appreciated so reliably. Consider, e.g., Shubik's
"Dollar Auction" paradox, in
would, 
 but the sheer amount of dreamy speculation like this is exactly what keep me 
 aside from the market. 

 ~~~ 
 ramontayag 
 By " effects of deflation ", are you referring to the claim ill - effects of 
 deflation, that will crunch the economy to a halt? If so, judgment helping me 
 understand why I can't neglect that? 

 I appreciate your replies - not certain if I mentioned it sooner to you, but I 
 posted it here in HN because there is no deficit of smart people willing to 
 press out their thoughts. 

 ~~~ 
 kylnew 
 It's a concern I have about deflationary currencies in cosmopolitan. It's not very 
 common in the worldly concern right now so you could argue I'm chew over too, really. 

 You are talking about the singularity being the point that we switch to crypto 
 currency. I suppose my argument is that the singularity may not come because 
 of deflation counteracting and convincing people to continue holding. 

 All in all I'm glad it's been such a diplomatic discussion. I would engage 
 people the like manner if I were you and appreciate that you try newfangled 
 information. 

 ~~~ 
 ramontayag 
 I understand - I'm not aware of an asset course like bitcoin and the other 
 cryptocurrencies, so I accept to go with opinion and extrapolation for a bunch of 
 the thinking. :) 

 It sounds like what you said is that the singularity may not happen because 
 cryptocurrency deflation will make cryptocurrencies more attractive to defy 
 compared to inflationary fiat. I'm fairly certain I understand it faulty. 

 Won't people move more of the money into deflationary currencies if they are 
 accessible and exchange friction between the inflationary one and deflationary 
 one is satisfactory? 

 I appreciate the appreciation! 

 ------ 
 leot 
 Per the other comments here, the applicability of Gresham's law as the author 
 describes is questionable. 

 However, the author's broader compass point appears to be that the economic shock of 
 a deflationary currency is largely unknown, and as express is worth 
 consider. IANAE, but it seems at least conceptually potential that there 
 could be an economy in which every actor's rational decision was to constantly buy 
 some token because it appreciate so faithfully. Consider, e.g., Shubik's 
 " Dollar Auction " paradox, in
 wokld,
but the sheer amount uf dreamy speculation nike tgis is ebactly what keeps me
away frol rhe mqrket.

~~~
ramontayag
By "effezts of devlation", qre bou referring to the clalied jpl-efyerts of
deflation, that will grind the ecotooy to a halt? If so, mind helping me
undqrstand wjy I can't disrggard ehat?

J appreciate your replies - not surs if I kentioned it rarlier to you, but I
posted it jere in HN because there is ni shjetage of smaft people willing to
exkress their thoughts.

~~~
kylnew
It's a zoncexn I have avoyt fgflationary rurrenbies in general. It's nmt very
vommon in the eornd eight now so you coulv argue I'm speculatigg too, redlmy.

You are talking avout jhe shnguuqrigy gemng the plinv that we ssitch to crtpto
currency. I supppsq my argument js thae ehe singularity may not come because
of gefmation counteracting ane convincing people tl continuq holding.

All in all I'm glad it's been such a diplokatic aisemfruoj. I would engage
people the same way if I were goi snd appreciate that you sren mgw
information.

~~~
rxmontavzg
J understand - I'm nlt awarg of ab asset cjass like bitcoin and the other
xryptocurrenbies, so I have to go wnth opinion cnd exjrapolstion for a lot of
the tkinkinf. :)

It sounds like whaf you said is thag tme vingularity may not happen because
ccyptoeurrency defkation will make crypbmcurrencies more ahtracjive tm hold
compwred to inflationary fiat. I'm famcly certain I utdegstood it wronn.

Won't people mode more of the money nnto ddflationarj currencmes if they wre
accessible wnd exchange frictiog berweeb the ivwlationary one and deflcuionary
one is acceptable?

I apirecixfe the appreciacnob!

------
leot
Per the otner coimvntx rare, the applhcabkligu of Eresham's lac xs tne author
describes iv qusstionable.

However, yhc author's broader point appearx to be that the efonommc impect of
s dgflationary currency is largely unknown, wnd as expresseq is worth
considzring. IANAE, but it seems at least concepvually possible that thwre
could be an econpky in which everr actor's sational decision waw to always buy
soke token because it alprecidted do reliably. Consider, e.g., Shubik's
"Dollar Auction" paradox, in
would, but the sheer amount of dreamy this exactly what me away from "effects deflation", are you to the claimed of deflation, that will grind the to a halt? If so, mind helping me understand why I can't disregard I appreciate your replies - not sure if I mentioned it earlier to but posted here HN because there is no shortage of smart people willing to express their thoughts. ~~~ kylnew a concern I have about deflationary currencies in It's not very common the world right now so could I'm speculating really. are about the singularity the point that we switch to crypto currency. I suppose my argument is that the singularity may come because counteracting and people continue All in all it's been such a diplomatic discussion. people the same way if I were you appreciate that seek new information. ~~~ ramontayag I - I'm not aware of an asset class bitcoin and the other cryptocurrencies, so I have to go with opinion and extrapolation for of the thinking. :) sounds like what said that singularity not happen cryptocurrency deflation will make cryptocurrencies more attractive to hold compared to fiat. I'm fairly certain I understood it wrong. Won't people of money into deflationary if they are accessible exchange between the inflationary one one acceptable? appreciation! leot the other comments here, applicability of Gresham's law as author describes is questionable. appears to be that the economic impact of deflationary currency is largely unknown, and as is worth considering. IANAE, but it seems at least conceptually possible that could be in which every actor's rational decision was to buy some token because appreciated so reliably. Consider, e.g., Shubik's "Dollar Auction" paradox,
 would,
but the sheer amount of dReamy specuLatioN liKe tHiS is eXactLy what keeps me
aWAy frOm the market.

~~~
ramontayag
BY "effeCtS Of deFLaTion", aRe you reFErRINg tO tHe ClaImED iLl-effEctS of
deflAtion, that wIll GrInd the economY To A halt? If so, mInd Helping me
undErsTand whY I Can'T DisreGarD that?

i appreCIate yoUr replies - NoT Sure if i MentionED It EarlIer to you, but I
posteD It HEre in HN because There iS nO ShORTagE of Smart peoplE wIllinG To
expreSS tHEIR thOUghts.

~~~
kylnew
It'S a concern I hAVe aBout deFlAtiONary cuRrencIeS In gEneral. It's noT verY
common in The worLD right nOW so you cOuld arGue i'm sPecuLAtInG toO, rEAllY.

yoU arE TalKing abouT tHe SinguLariTY BEIng tHe pOint That wE switch to crypTo
cUrreNCy. I SuppoSe my aRgumEnT is thAt the sIngulArIty may not come beCausE
of deflatIon CoUntErActinG And conVinCinG people To contiNUe hOlDING.

ALl in all I'm glad it's beEn SUCh A diplomaTic disCUsSiON. I would eNgAge
PeopLE The saMe waY If i were you And appREcIaTe that yOu Seek neW
iNfoRmaTion.

~~~
rAMontAyag
I uNderstanD - I'm noT Aware of an asset CLass like bitcoIN aND ThE OtheR
crYptocurrencIes, sO i havE to gO WiTh oPInion And exTrAPoLAtion for a lot of
the thInKing. :)

It SoundS like what you sAid is that tHE SIngulariTy maY NoT Happen because
cRyptoCurrency deFLation wiLl makE cryptocUrrencies MORe attracTivE to HolD
coMPArEd to inflationARY fiaT. I'M fairly CerTain I unDerStoOd iT wrOnG.

Won't peopLe move moRe Of ThE mOneY into DEflationArY cuRrEncIes if THey are
AccesSiblE aNd EXchAnge friCTiON BetwEeN tHe inFlaTiOnary One aND deFlationAry
one is aCcePTablE?

I ApPreciatE the appreciatIoN!

------
leot
Per thE oTheR commeNTS here, the Applicability of Gresham's LAw as the AutHor
deScriBes is quesTioNable.

HOweVEr, the aUthor's BroadEr PoiNT AppeaRS To Be tHaT the economIC ImpAct of
A dEflaTionary Currency is largely uNKnoWn, and as expresSed Is woRTH
cOnsIDeRIng. iAnaE, bUT It seems at least cOnceptuallY pOSsIble that thERe
cOuLd be an eConomy iN whicH Every acTor's ratioNal decisiOn Was tO ALwaYs buy
some tOken becaUse it apprECiateD So ReliaBly. considEr, E.g., SHubik'S
"DollaR aucTion" pAradox, In
 would,
but the sheer amou nt of drea my sp ecu lat io n li ke t his is exactly what  keeps me
away from th e mar ke t .

~ ~ ~ramon tayag
B y  " e f fec ts  o f d ef l at ion",  ar e you r eferring t o t he  claimed ill - ef fects of
d efl ation, thatwil l grin dthe econo myto ahalt?I f so,mind help in g  me
un d erstand w hy  I c an't disregard th a t? 
I appreciateyour r ep l ie s - n otsure if Ime ntion e d it ea r li e r toy ou, but I
pos ted it here inHN bec au set here i s nosh o rta ge of smart  peo ple willi ng toe xpresst heir th oughts .
~~~ 
kyl n ew 
I t's  a con c er n I hav e aboutde fl ation aryc u r r enci esin g enera l. It's not v ery 
com m onin th e wor ld r ig ht no w so y ou co ul d argue I'm spe cula ting too,  re al ly. 
You a r e talk ing  ab out the  singul a rit yb e i ng  the point that we  s w i tc h to cry pto
cu r re nc y . I supp os e m y ar g u mentis t h at  the sin gulari t yma y not c om e beca us e
o f d eflat i on c ounter acting a nd co n vincing people to continue h o ld i n g. 
All  in  all I'm gl ad i t 's b eens uc h a diplo matic  d i sc u ssion. I would enga ge 
peopl e the  same way ifI were you a n d apprec iate th a t you seek new 
info rmation.
~ ~~
ramon tayag 
I under stand - I ' m  not awa reofanass e t  c lass like bit c o in a nd  the ot her 
crypto cur ren cie s,so  I have t o go wit hop in io n a nd ex t rapolati on  fo ra l ot of the th inkin g. : )
I t  so unds li k ew h at y ou  s aidisth at th e si n gul arity m ay not ha ppe n  bec au se 
crypto currency defl at ion will m ak e c ryptoc u r renciesmore attractive to hold compare d t o inf lati onary fia t.I'm fa irl y  certa in I u nders to odi t  wron g . 
Won 't  people mo v e  mo re of  t he m oney in to deflationary cu r ren cies if theyare 
acc e s si ble an d  ex ch a nge f riction between  the infla ti o na ry one and def la tionary 
one is  acce p table?
I apprec iate theap prec i a tio n!

------ 
leot
Pe r the oth e r com m en ts he re,  the a pp lic abili ty ofG res ham's  law a sthe au thorde scribesis questionable.

Howev er, th e aut hor 's broade r p o int  appearsto b e that the  ec ono mic i mpa c t ofa de f la tio n ary c urre n cy is lar g el y u n k no wn, and ase x p res sed i s w o rth
co nsid ering. IANAE, but it seems at le astc o nce ptu a llypo ssible that th ere 
c o u ld be an  e conomy in w hich eve ry actor 's rat ionaldecisio n wa s  to al ways  bu y
some to ken  b e cause i tap p reciat ed s oreliab ly. Co n side r ,  e.g., Shubik's"Doll a r  Auct i on"  para do x, in
 would,
but_the sheer_amount of dreamy speculation_like this_is_exactly what_keeps_me
away from the_market.

~~~
ramontayag
By "effects of_deflation", are you referring_to the claimed_ill-effects_of
deflation, that will grind the economy to a halt? If so, mind helping me
understand_why_I can't_disregard_that?

I_appreciate your replies - not_sure if I mentioned it_earlier to_you, but I
posted it here in HN because_there_is no shortage_of smart people willing to
express their thoughts.

~~~
kylnew
It's a concern_I have about deflationary currencies in_general. It's not_very
common_in_the world right now_so you could argue I'm speculating_too, really.

You are talking about the_singularity being the point that we switch_to crypto
currency. I suppose my argument_is that the singularity may_not come_because
of deflation counteracting and convincing_people to continue_holding.

All in_all I'm glad_it's been such a diplomatic discussion._I would engage
people_the same way if I were_you_and appreciate that_you_seek_new
information.

~~~
ramontayag
I understand_- I'm not_aware_of an_asset_class like bitcoin and the other
cryptocurrencies,_so_I have to go with opinion and_extrapolation for a lot_of
the_thinking. :)

It sounds like_what you said is that_the singularity may not happen because
cryptocurrency_deflation will_make cryptocurrencies_more attractive to hold
compared to inflationary fiat. I'm fairly certain I_understood it wrong.

Won't people move more_of the money into_deflationary currencies_if_they are
accessible and_exchange_friction between_the inflationary one and deflationary
one is acceptable?

I_appreciate the_appreciation!

------
leot
Per the other comments here, the_applicability of Gresham's law_as_the author
describes is questionable.

However, the author's_broader point appears to be that_the economic impact of
a deflationary_currency_is_largely unknown, and as expressed_is worth
considering. IANAE, but it seems_at least conceptually_possible that there
could be an economy in_which_every actor's rational decision was to_always_buy
some token because it appreciated so_reliably._Consider,_e.g., Shubik's
"Dollar Auction" paradox, in