report from Tesla Coils and Corpses meeting

[Zooko Wilcox-OHearn]

[following-up to my own post to correct an error and to give credit-where-due]

On Thu, May 29, 2014 at 11:41 PM, Zooko Wilcox-OHearn
<zooko at leastauthority.com> wrote:
>
> This would make it very clear to everyone that if, for example, you
> engage in a long-term debt contract obligating you to pay 0.000001% of
> the world's Bitcoin to someone at some time in the future, that this will
> be slightly harder for you amount to pay 0.00001% of the world's Bitcoin
> today. It would be slightly harder for you to pay in the future for the
> simple reason that the percentage of Bitcoin that you own decreases a
> tiny little bit every time a new block is mined.

Argh. I totally edit-o'ed that paragraph to death. I apologize to
everyone who wasted time trying to decode this. It should have said:

"This would make it very clear to everyone that if, for example, you
engage in a long-term debt contract obligating you to pay 0.0001% of
the world's Bitcoin to someone at some time in the future, that this
will be slightly harder than to pay 0.0001% of the world's Bitcoin
today, for the simple reason that the percentage of Bitcoin that you
own decreases a tiny little bit every time a new block is mined."

On the credit-where-due front, having a recent private conversation
with Mark "maaku" Friedenbach, and listening to some not-so-recent
podcasts from econtalk.org (¹, ², ³) inspired this thinking. This
doesn't mean maaku or any of those economists agree with me, of
course.

¹ http://www.econtalk.org/archives/2013/03/sumner_on_money_1.html

² http://www.econtalk.org/archives/2012/10/garett_jones_on_2.html

³ http://www.econtalk.org/archives/2010/10/irwin_on_the_gr.html

Regards,

Zooko Wilcox-O'Hearn

Founder, CEO, and Customer Support Rep
https://LeastAuthority.com
Freedom matters.