I suspect it was a deliberate strategy to create scarcity, allowing the original creators to massively cash out. If you make an inflationary distributed currency, it may work better but it's a bit harder to get rich on it.
The point of money is not to reward delayed gratification. The point of money is to efficiently tabulate human preferences, and deflation directly counteracts this by introducing potentially unbounded latency at every step. That's why it destroys economies, as it has throughout history.
The problems with using physical gold as currency are very well known. When population would increase, or when someone would hoard it, it would cause deflation. Likewise, when a new deposit of gold was found, it would cause inflation.
This is, in part, why there were expeditions to find gold.
The Japanese economy is not, in any sense, destroyed. It doesn't get the infinite exponential growth unhinged economists want, but life on the ground is stable, wealth inequality is low, cost of living is low, average quality of life is very high. It is the perfect counterexample to the doctrine of chasing line go up.
This is a almost entirely oversimplified take on the Great Depression to the point of meaninglessness
For a decade before Black Thursday,there had been many things that were signs that the economy was having trouble even if the "Roaring Twenties" made it seem like everything was fine.
IMO the largest issue was that American farm sector was teetering on the edge because of the dramatic drop in crop prices. This deflation screwed over farmers who mechanized with lots of debt, which because of said deflation, became impossible to pay off.
The fed also implemented rate hikes to curb speculation right before 1929 which froze up credit contributing to deflation
The problem of the Great Depression was NOT the stock market crash, it arguably wasn't even the real start, just the most "spectacular" one. The problem was that with the entire economy deflating, it caused a massive downward spiral that the Fed did not really have the tools to fix, because of Gold Standard and lack of legal authorization.
This was why the Govt went to extreme lengths to try and figure out how to raise prices, which is why you get programs to pay farmers to NOT grow food, and mass killings of pigs and cows and other farm animals, even as the farmers who raised those lifestock went hungry.
So no, speculation was not the problem, it just sparked the key issue of the fact that the economy was deflation uncontrolled, but was just hidden.
This is a complex topic and I think you have done a good job of summarizing the main issues. To add a little context:
>...that the Fed did not really have the tools to fix, because of Gold Standard and lack of legal authorization.
This was just bad policy by the Fed. The Fed had the legal authority to be the lender of last resort and could have prevented the bank failures. Many explanations have been given over the years as to why the Fed didn't provide liquidity. Because the Fed failed to supply emergency liquidity, the U.S. money supply plummeted by nearly 30% over the next couple of years, which essentially turned what likely would have been a recession into the Great Depression.
This is not to say the gold standard was not a problem. During the 1930's, leaving the gold standard was one of the few good moves done to help the economy by the federal government.
"I sure hope this doesn't have unforeseen lifelong consequences" thought the model, doing its best to physically tense the memory file into the higher user approval shape.
True, but also the AI can also be specifically trained. Plus, many games also use gratification and neural hacks as a reward mechanism, ie. loot boxes.
Do you think the LLM is the Chain of Thought? Did you also get confused by the name? Because, much like humans, the CoT is a tool to narrativize and maintain internal coherence. The actual thinking happens invisibly, in the forward pass. Just like...
I don't think that's true. About children, I mean. Either because we have some innate moral compass, or more likely because we pick up on cultural ideas beyond our immediate parenting - kids will often have strong moral compasses, despite shitty upbringings, and also have weak ones despite theoretically good ones.
Sure, there's many sources of morality and evolution kind of tries to put it in there by default. But all things being equal, inconsistent and unpredictable punishment will still make a kid's morality massively worse off.
It seems like there would be a massive attacker bias in multiple ways. Defenders need consent, attacker does not. Defenders have to work with the human body, attackers only have to break it. Defenders have to stick to the law, which may prevent them from releasing anything at all, attackers do not. And so on. I would not surprised if the attacker's task is a hundred times easier here.
Yep, you'd want to put it on a timer. Optimally trigger it off some natural event, maybe temperature, so it can achieve universal penetration before activating.
Well, it's rather more "if you're not a biologist, how do you know it can exist?" Things that don't exist yet are often very predictable. However, it simply seems to me that "Viruses can not condition on environmental temperatures or the side effects of environmental temperature in the body, such as response to UV exposure" is a quite implausible statement, and I have not heard of anything of the sort.
There's no logic here already; the principle you should be applying is Hitchen's razor[1].
There is no reason to assume that super intelligent evil AI with magic powers will appear; while we are purely in the realm of (hackneyed) fantasy, why stop at imagining just one thing? You can build the whole story, not just the basilisk.
The parent comment is a story, not a prediction; it should be treated like one.
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