Show Idle (>14 d.) Chans
← 2022-09-12 | 2022-09-14 → ↓
11:05 asciilifeform awt: http://logs.nosuchlabs.com/log/asciilifeform/2022-09-13#1113764 << bug rep
11:05 dulapbot (asciilifeform) 2022-09-13 copypaste: blatta/lib/client.py @ line 105
11:05 busybot Current BTC price in USD: $21023.44
~ 45 minutes ~
11:51 awt ty, saw that. I suspect inherited bug.
11:53 awt $ticker btc usd
11:53 busybot Current BTC price in USD: $20835.34
11:54 awt What a weird parallel universe where btc goes down on higher inflation.
11:55 asciilifeform awt: considering that the exch rate is made ~entirely of goxcoin -- unsurprise imho
11:57 asciilifeform ( goxcoin being an inflationary artifact, entirely analogous to 'paper gold', imho rather obv )
~ 1 hours 55 minutes ~
13:52 awt prevailing explanation is that CPI is up because the covid response wrecked "supply chains," making the economy less productive, and everything more expensive.
13:53 asciilifeform aaaha lol
13:53 asciilifeform nuffin, naturally, to do with printer brrr, Officially
13:54 awt On another topic, I wonder if blatta was running slowly due to the slow serpent implementation.
13:54 asciilifeform awt: prolly contributes, tho afaik proximate cause was prod loop
13:55 awt ah you saw that as well?
13:56 asciilifeform aha
13:57 asciilifeform sadly overwrote the dbg log, but still running that ver and expect will see again
~ 2 hours 35 minutes ~
16:32 signpost how would you expect inflation to directly drive BTC price up?
16:33 signpost the costs of other goods increasing and all other things being equal, there's less money to go chase an increasing amount of BTC.
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16:33 signpost think also about how much cheaply loaned printola is used in these goxes, whether they trade database-btc or stonks
16:37 PeterL signpost: printolade distributed to people, they use it to buy btc, bitcoin prices rise?
16:38 signpost the beoble went and bought more debt with the stimmies
16:38 signpost but yeah, more stimmies would potentially drive up prices since there's an excess of dollars sloshing around
16:40 PeterL or the other wy around: bunch of dollars printed, dollars now worth less, now I won't sell my btc unless somebody gives me more dollar
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~ 18 minutes ~
16:58 signpost what happens to the dollar if you print 1tril of them but other currencies collapsing creates 2tril of demand for dollars?
16:59 signpost I don't think any of this is as simple as "number of dollar go up, price of btc go up"
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16:59 signpost whole world's changing.
17:00 signpost might even be official US policy to help those collapses along (via stoking wars and self-sabotage) to create inflation sinks.
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17:01 signpost "The dollar is our currency, but it's your problem."
17:04 signpost plenty of room for overt manipulation of btc too. see also: paper gold
17:05 * signpost curious how the BRICS currency lands.
~ 3 hours 58 minutes ~
21:03 asciilifeform http://logs.bitdash.io/pest/2022-09-13#1012816 << a, except that most printolade is handed not to humans to buy mcphood, but to 'investors', to prop up 'markets' (and + to maintain the titled barons )
21:03 bitbot Logged on 2022-09-13 16:33:16 signpost: the costs of other goods increasing and all other things being equal, there's less money to go chase an increasing amount of BTC.
21:03 dulapbot (asciilifeform) 2022-05-09 asciilifeform: http://logs.nosuchlabs.com/log/asciilifeform/2022-05-09#1100745 << may encourage verisimilitude to realize that it aint in fact run 'with money'. oligarchs aint oligarchs 'because have money', they are simply [http://logs.nosuchlabs.com/log/asciilifeform/2022-04-11#1095153][deputie
21:06 asciilifeform corollary to this -- part of the reason is specifically so that human-amoebas see 'stonks -- rising' and load up on ~that~ rather than btc
21:06 dulapbot (asciilifeform) 2022-04-07 asciilifeform: i.e. to keep the amoebas from climbing the immediate gradient.
21:08 asciilifeform http://logs.bitdash.io/pest/2022-09-13#1012823 << aaha, because not spray-painted evenly on whole planet (what'd be the point?)
21:08 bitbot Logged on 2022-09-13 16:59:00 signpost: I don't think any of this is as simple as "number of dollar go up, price of btc go up"
21:09 asciilifeform http://logs.bitdash.io/pest/2022-09-13#1012825 << traditional usg 'biz model'.
21:09 bitbot Logged on 2022-09-13 17:00:51 signpost: might even be official US policy to help those collapses along (via stoking wars and self-sabotage) to create inflation sinks.
21:14 asciilifeform 'printing press, brrr' is today what always was -- a confiscation machine, pumps from disfavoured (usd savers) to favoured (lizards, sublizards)
21:18 asciilifeform http://logs.bitdash.io/pest/2022-09-13#1012821 << except where goxen magick additional 'btc' into existence and sell.
21:18 bitbot Logged on 2022-09-13 16:40:06 PeterL: or the other wy around: bunch of dollars printed, dollars now worth less, now I won't sell my btc unless somebody gives me more dollar
21:19 asciilifeform ( historically worked a++ with 'paper gold', equally worx for just about any other fractional-reserve scamola, incl. goxcoins )
21:24 asciilifeform is how in '17 reich halted the 'explosive' rise of btc-usd exch rate -- by 'legalizing' goxism and placing it on central gosplan-style footing to (mostly) put a stop on uncontrolled 'bank runs' which might threaten demand for papercoin
21:26 asciilifeform ( all current-day 'Official' goxen can be safely assumed to seekritly share a reserve piggy; this'd be the 'crown jewels' of their seekrit agreement with reich.gosplan, rather than whatever snoopings, tax collections, etc which moar or less erryone knows about at this pt)
21:29 asciilifeform ( not to mention fact that in 'small print' of coinbase et al, one invariably finds 'in emergency, reserve the right to convert yer holdings to usd at the rate of our choice' etc )
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