[ephbit]

> There is no wealth distribution in a hard money paradigm that makes sense.

Care to explain how one can come to this claim based on first principles?

Maybe I'm misinterpreting this sentence of yours. I read it as: a hard money paradigm will inevitably lead to a very undesirable wealth distribuation (Gini coefficient --> 1) and there's no way to fix/prevent this other than moving from hard money to soft money.

I'd refute this claim. There are completely obvious ways to prevent Gini --> 1. Effective redistribution from wealthy to poor. The only hurdle to that is political systems, voters, governments or monarchs deciding to and then enacting it. Absolutely possible.

[ephbit]

My point here is: concerns with undesirable wealth distribution (in a hard money system) make IMO no sound argument against hard money. Because there's ways to redistribute wealth through the state.

Besides that, if the current wealth distribution (under non hard money) isn't all but a calamity, then what is it?

Also most states are currently doing effective redistribution of wealth so it's clearly something that can be done. One issue though in most states is that the redistribution is getting outpaced by countering effects, so it's insufficient.

[hnews_account_1]

Good luck forcing redistribution using central authorities. The very reason for the existence of modern loans is to bypass their stupidity. You do not comprehend the literal scale of the problem. You have to replace every fucking bank employee with a govt employee (in simple terms). If you think a central body is bloated now…

[ephbit]

> You do not comprehend the literal scale of the problem.

Phew, OK, if you write so.

> You have to replace every fucking bank employee with a govt employee ..

No, all it needs is a reasonable tax system without loopholes and where taxes are well balanced and of course reasonable services provided by the state funded by these taxes.

[hnews_account_1]

Ok so I’m going to start making up theories by assuming the second law of thermodynamics is false and we can have infinite free energy.

[ephbit]

Do I get this right?

You have a rather pessimistic view of the world that leads you to believe that while such tax systems might be possible they allegedly haven't ever been observed in the real world. So you go on to infer that what hasn't been observed is not possible.

I think it's a stretch to draw a parallel here to the unyielding character of physical laws.

I assume the world has seen reasonable tax systems in the past but since politics/science/tech/societies/culture is constantly evolving this "state" was not stable. That it wasn't, doesn't prove it's not possible. Future societies with more knowledge on the whole subject (of creating beneficial equilibria in society) might find ways to keep desirable states over long periods of time.

[hnews_account_1]

I’m not pessimistic. In fact, I definitely think something will disrupt the status quo and it is very corrupt. That’s not the point. I just don’t think your solutions are workable. If you’d told me about btc 10 years ago, I would’ve thought it was a radical attempt at a solution. Now I don’t think it’ll work with the benefit of hindsight. I just think anything in the future that disrupts tradFi will have equally crazy origins.

[ephbit]

> I just don’t think your solutions are workable.

Care to explain why?

I like to think I can be convinced by arguments.

> If you’d told me about btc 10 years ago, I would’ve thought it was a radical attempt at a solution.

But Bitcoin has kept working mostly the same way it started, right? Miners mine. People interested trade/speculate.

The thing about Bitcoin that changed over these years is what people think it is. Digital cash, nope. Micropayments, nope. Currency, nope. Store of value, could be. (I'm assuming volatility will decline in the long term if market capitalization approaches that of gold and as it gets adopted by millions more who don't speculate short term but just hold a few years to park some money and eventually exchange back to regular currency)