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21 sats \ 5 replies \ @denlillaapan 21 Oct \ parent \ on: The Distributional Consequences Of Bitcoin bitcoin
reading this shit is pretty unbelievable too:
"it can be argued that a normal credit transfer has also no trusted third party and does not promise a mediation mechanism either."
Like, when scholars use words this way I'm wondering if
a) they are candidates for an asylum, seriously
b) are intentionally shit-testing us.
THAT IS WHAT CREDIT FUCKING MEANS, YOU DIMWIT
lmao.
Yeah I haven't read the paper yet and I don't know exactly what "normal credit transfer" means... but it makes me think of a bank loan, or a mortgage, which sure as hell has trusted third parties and a promised mediation mechanism.
I usually try to steelman whatever I read, but it might be hard to do it for this one :)
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lmao.Yeah I haven't read the paper yet and I don't know exactly what "normal credit transfer" means... but it makes me think of a bank loan, or a mortgage, which sure as hell has trusted third parties and a promised mediation mechanism.I usually try to steelman whatever I read, but it might be hard to do it for this one :)
Indeed. I kinda of need to take a breather and do something else every other page, cuz this is just mind-numbingly incompetent.
I thiiiink they mean a specific type of sale/transfer via PayPal, that doesn't have access to mediation services something-something. But PayPal is like L3 of the dollar system, so don't understand why that would be at all relevant
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next gem:
"The problem of double-spending is hardly an issue in payments (because it is generally solved without particular difficulties, and certainly with far less social cost than those incurred in the solution offered by Bitcoin)"
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OK, this is a funny typo.
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To be fair, one can be excused for mistaking the Bitcoin Conference for a religious conversion experience :)
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