-
Notifications
You must be signed in to change notification settings - Fork 0
A Bitcoin Fiat Proposal
The term fiat derives from the Latin fiat (“let it be done”) used in the sense of an order or decree.
An important advancement for our global civilization is the achievement of international stability of currencies. The goal is not stabilization of purchasing power, which is an impossible feat, but the removal of the political component of respective national money supplies.
We see this as achieved by either the scenario of Bitcoin becoming a ubiquitous global currency in conjunction with the hyperinflation of centrally managed national currencies, or via major central banks achieving international value stability between their national currencies by inflation targeting Bitcoin (ie stabilizing exchange rates).
Consider a scenario in which Bitcoin becomes globally adopted as a currency. If the price trend in Bitcoin terms of a certain good in country A differs from that of the same good in country B, this would signal a difference between each country’s supply and demand curves of that certain good as opposed to differences between each country’s monetary policies.
In the second scenario, where central banks successfully value target Bitcoin, any differing price trends of a certain good between country A and country B would also reflect the differences between local supply and demand curves of that certain good in country A versus country B.
Both scenarios describe a comparable and favorable result in which the local price signals of goods are conveyed free of the noise created by political intervention in the supply of money, while still affording central banks the ability to enact monetary policy to fulfill their mandate of stabilizing their respective economies.
In the scenario where central banks inflation target Bitcoin, it becomes comparable to the ICPI (Industrial Consumption Price Index) that in his works entitled Ideal Money, John Nash argued could be used as a central banking value target for the optimization of each nation’s money supply.
The ICPI is a decentralized array of regularly adjusted commodity prices. We observe that Bitcoin fulfills the necessary apolitical consideration that such an array of prices seeks to provide. Moreover, it addresses the necessity of a mechanism for regular adjustment, while avoiding the introduction of a political component.
This political component is avoided by the novelty of Bitcoin’s difficulty adjustment algorithm explained in the following quote:
The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.
Asymptotically viewed, the price of bitcoin is a discovery of the cost required to produce a block. This, in conjunction with the decentralized nature of mining, suggests a Bitcoin standard can serve as a perfect international basis for value stabilization not unlike gold standards observed in favorable economic times in our history.
Our proposal is that any changes to Bitcoin should be made with full consideration towards maintaining the apolitical nature of its price signal.
- Ideal Money
- Ideal Money Southern Economic Journal
- Ideal Money Revolutionary Reforms
- Ideal Money and the Motivation of Savings and Thrift (Honesty)
- Ideal Money and Asymptotically Ideal Money
- Ideal Money and the Motivation of Savings and Thrift (ultra)
- Ideal Money and Asymptotically Ideal Money (groundswell)
- Introduction to Ideal Money and the Value Thereof
- The ICPI and Bitcoin as an Ideal Money Basis
- Hal Finney's Theory of Bitcoin Backed Banks
- The Theory of Bitcoin Backed Central Banks
- The Nashian Orientation of Bitcoin: A Theory of Bitcoin and Money
- Ergo, Bitcoin is Nash's Ideal Money
- The Nashian Orientation of Bitcoin, the Axiom of Resistance, and Tail Emission vs. Drivechains as a Solution to the Security Budget Problem
- On Reverse Drivechains And Byzantine Encryption
The following is written to be read in descending order and also doubles as the modules for our nashLinterAgent:
- Bitcoin Most Certainly Violates Mises Regression Theorem and This Fact Compels Clarification or Re‐Solution from the Mises Institute; And An Introduction to Szabonian Deconstruction
- Of The Fatal Inconsistencies In Saifedean Ammous' Bitcoin Standard
- On Terminating Bitcoin's Violation of Mises Regression Theorem With Games as Pre‐Market Commodity Valuators
- On the Szabonian Deconstruction of Money and Gresham's Law
- The Bitcoin Community is a Sybil Attack On Bitcoin
- On The Satoshi Complex
- On Cantillon and the Szabonian Deconstruction of the Cantillon Effect
- Understanding Hayek Via Our Szabonian Deconstruction of Cantillon
- On the Tools and Metaphors Necessary To Properly Traverse Hayek’s Denationalization of Money In the Face and Light of Bitcoin
- On the Sharpening of the Tools Necessary As a Computational Shortcut for Understanding Hayek’s Proposal The Denationalization of Money in The Context of the Existence of Bitcoin
- Our Tool for Szabonian Deconstruction of Highly Evolved Religions
- Thought Systems As Inputs For Turing Machines‐Our Tool For Framing Metaphors Of Intersubjective Truths
- On the Szabonian Metaphorical Framework For Objectively Traversing the Complex History of Mankind
- On the Synthesis and Formalization of Hayek, Nash, And Szabo’s Proposals For The Optimization of The Existing Global Legacy Currency Systems
- On The Re‐Solution of Central Banking and Hayekian Landscapes
- On The Origins of the Digital Age of the Historical and Global Shadow‐Banking Empire
- On K, Chomsky, Language, and Human Existence
- Byzantine Encryption-Hayekian Compression Of a Machiavellian Field
- On Mapping Factors of Metcalfe Potential
- Constructions
- deconstructWrapsJal
- Esoteric Poker
- Satoshi's Implicit Commandments
rheomodeLinguist GTPAgent Demo
Bohmian Rheomode Modules
- On Rheomodes
- rheomodeExamples
- On Languages With or W/O Rheomodes and Their Shaping Of Our World Views
- On Rheomodic Truth
Rheomode Construction Examples
- On The Ordination of Bitcoin
- On The Covenation of Bitcoin
- On The Catenation of Bitcoin and the Quantum Extension of Such
- On the Runation of Bitcoin
- di‐vi‐nation
- On the Inscriptation of Bitcoin
- On the Volitation of Bitcoin and the Quantum Extension of Such
-
(uses the ,Ordination and Covenation of Bitcoin modules from above, On Rheomodes, and The Origins of the Shadow Banking Field)
-
uses a nashLinter chat which the notes below were fed into
-
hiddenVarNotes
-
consensusFieldPrompt
-
On The Great Renumbering or the Great Re‐Numbering Or the Re‐Ordination of Bitcoin
-
On the Origins of Inscriptions Ordinals Runes and Digital Artifacts as Defined by Casey Rodarmor
-
On The Catenation of Bitcoin and the Quantum Extension of Such
-
Example of Quantum Catenation of Bitcoin Development
-
On the Runation of Bitcoin
-
On the Generalization and Possible Transformations of the Byzantines Generals Problem
-
Core and Bitcoin's Security Triad's Implicit Double Random Development Path Walk
- On the Synthesis of Bohmian Hidden Variables Consensus Field and Nash ProCooperative Game Theory
- BitcoinWrapsNashCooperation
- On Nash Consensus as An Extension of Nakamoto Consensus
- On the Nash Ossification aka the Nashification of the Bitcoin Protocol
- Byzantine Money
- On the Re‐Framing of Heisenberg Via The Synthesis of 3 Player Pro‐Cooperative Games With Base Byzantine Generals Problem
- Similarities and Differences Between Mankind’s First Flight and the First Moon Landing
- On Integrated (Body and Awareness) Rheomodic Therapy
- The Re‐Levation and Re‐Framation of The Snowden Revelations
- On the Simplification of Nash and Satoshi's Research Projects From 42 Variables to 21
- On the Di‐vi‐nation of Swan Bitcoin Mining
- On The Pan‐da‐nation of Global Manufacturing
- Are Greedy Wheat Grass Lumber (and Cattle) Farmers Responsible For Inflation and High Costs of Living
- On The Pan‐da‐nation of Global Savings In Sub‐prime Markets
- On The Quantumization of Bohmian Dialogue
- On Bohmian Re‐versation and Re‐Ordination
- Bohmian Holonomy
- Derivations For The Bohmian Holomorphic Nash Equilibrium
- Our Work as a Theory For Chomskys Language Inquiry
- Noam CHOMSKY on AI, ChatGPT, Universal Grammar and Wittgenstein Practical Wisdom Interview Transcript
- ChomskyTool