The Problem The financial concept of double expenditure is when a financial instrument or unit of value can be spent by more than one person at the same time. The ability for two people to use the same financial instrument at the same time effectively turns one dollar into two, tantamount to monetary inflation by …
Category Archives: Crypto
Romglish
The last 10-15 years, Romanians have begun substituting English words for Romanian words when they speak Romanian. Not because they don’t have those words in Romanian, they do, but simply for the sake of substituting English words. There is no practical reason, there is no problem that it solves. Some will try to justify it …
Logic
There is no objective definition of intelligence or way of measuring it and if we try to construct too complicated a definition, it may take the analysis off into the weeds or down a rabbit hole where anything can be argued regardless how ridiculous. So for this analysis let’s define it as abstractly yet functionally …
Origins
“Artificial” in the acronym “AI” isn’t meant to mean that the system appears to resemble or imitate human intelligence – like an artificial tree resembles a real tree. It’s meant to mean that it is actual intelligence created artificially by humans in machines rather than by nature. Proposition: Artificial Intelligence cannot become as intelligent or …
What is a Store of Value?
In economic terms, when people talk about a store of value, they’re talking about an economic good that retains its exchangeable market value in the short-run and the long-run. All value is individually subjective so exchangeable market value is the assumption that consumers and producers in the aggregate feel confident that there will be a …
Animal “Rights”
The topic of Animal “Rights” attracts so much attention because it’s so asinine like a flat earth, man killing the planet or gender fluidity. It’s twenty-first century “civilized” society that more aptly resembles an insane asylum or a pre-school. Rights require consent, so how do you get consent from an animal? You can’t, it’s impossible …
The Economics of Bitcoin
By Don Cooper What is a real economic good? Simply put, a real economic good is anything that is naturally scarce and in demand. Scarcity implies that you cannot get all of the good that you want freely from nature and there is nothing anyone can do to change that, therefore someone must employ resources …