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1186 sats \ 2 replies \ @elvismercury OP 9 Mar \ parent \ on: Psychology and btc price bitcoin
I think this is an important question. Doomberg recently mocked the shit out of efforts to price aspects of nature in an article about natural asset companies. From what I read of the article, it sounds like NACs are unworkable and perhaps ill-motivated, but it's also true that one of the biggest dangers -- perhaps the single biggest one -- of the modern world is that people think that things that don't have prices also have no value. Or they don't really think this, but the machinery of capitalism compels the most powerful entities in the world to act accordingly. Any effort to solve that problem should be taken seriously.
But wrt what makes prices special: imo, it's that they roll up such gigantic and diffuse kinds of value and instantiate that massive vector into a single number that people can think with. Which means that everything pertaining to price carries that complex bouquet with it -- it's inherently compelling, the perfect psychological racoon trap.
it's that they roll up such gigantic and diffuse kinds of value and instantiate that massive vector into a single number that people can think with
Aha! We do love treating a vector like a scalar. Lex interviewed Meta's head of AI who made a related point arguing LLMs will not produce AGI because language is a lossy compressed thought and experience. Whether a scalar or language, compression allows information to travel far and wide.
I've been thinking about the tendency to vector collapse in founder friends; "successful founders do x, so I'm doing x" or "it's really all about y, so I'm doing y." They compress to coordinate with their future self. (Really founders need an element in their vector for nearly every role that a mature organization has. You can probably get away with compressing the vector to 2 or 3 dimensions, but hardly ever just 1 afaict.)
Which means that everything pertaining to price carries that complex bouquet with it -- it's inherently compelling, the perfect psychological racoon trap
This clicks. Prices are like the outline of something seen through a sheer curtain and we are all some sort of peeping tom.
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Please turn this into its own post!
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