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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (480061)	9/24/2021 5:32:35 PM
From: cosmicforce	Read Replies (2) \| Respond to of 541102

>>If crypto thinks it can do better, Show me the money! A valid criticism that could be applied to early microchips which weren't all that reliable. Russians used tubes because they knew they'd work on a nuclear battlefield - we used less reliable "shielding" and microchips. Thankfully - we never field tested our respective strategies. Proof of work is energy intensive - proof of stake is biased toward the "whales" - I've not seen a good compromise between egalitarian crypto and "easy" crypto. But per dollar of stored value - gold is more energetically intensive than gold's equivalent in crypto - the numbers are convincing. I also acknowledge the 10000 years of history of gold as a rational challenge. My crypto holdings are tiny compared to other assets of cash, gold, shorts, longs, and bonds - I'm worried about real inflation - pension fund and stock fraud - bond defaults - sovereign risk - de-funding of SS - etc. Those are real challenges - crypto is deflationary by design and the number of coins shrinks . Central banks have been printing fiat currency for years and it scares the crap out of my retiring self. How do we even estimate the zero-risk rate of return?