oren_z0 on Nostr: Just finished reading anil ‘s book. Very interesting to learn the exact definition ...
Just finished reading anil (npub14hn…a32x) ‘s book. Very interesting to learn the exact definition of terms that you hear about in the Bitcoin ecosystem without knowing what they mean.
I would add 3 more terms. First there are Ponzi Scheme and Pyramid Scheme - which are used by Bitcoin haters who try to defame Bitcoin (even though there is no interest-payments in Bitcoin and no direct reward for bringing more people).
The third is Goodhart’s law: when a measurement becomes a target, it ceases to be a good measurement. This is the main failure of the Fiat system that tries to control inflation by measuring the CPI - a specific basket of goods and services. This may have seemed a good thing at first, but over time it reshapes the economy so insane amounts of printed money could flow to other industries without control.
I would add 3 more terms. First there are Ponzi Scheme and Pyramid Scheme - which are used by Bitcoin haters who try to defame Bitcoin (even though there is no interest-payments in Bitcoin and no direct reward for bringing more people).
The third is Goodhart’s law: when a measurement becomes a target, it ceases to be a good measurement. This is the main failure of the Fiat system that tries to control inflation by measuring the CPI - a specific basket of goods and services. This may have seemed a good thing at first, but over time it reshapes the economy so insane amounts of printed money could flow to other industries without control.