A quite common straw man: praxeology as anti-empirical "armchair" dogmatism that claims immunity to criticism. This could not be further from the truth. A thread to set the record straight ...

https://twitter.com/resistancemoney/status/1613531674083577857

Menger called his method "causal-empirical". Praxeology is founded in realism and is meant as a tool for understanding ("verstehen") empirical and relevant phenomena, not utopian concepts or ideals.

A sad irony that peak fiat would be #FTX - a "crypto" exchange. Fiat shills at #NYT say "it is just like #JPMorgan" in showing the need for a central bank. Close miss: It is just like JPM a moral hazard of centralized money production, regulation, lobbying, and other collusion. FTX's event "Crypto Bahamas" in April gave it all away when speaker Bill Clinton concluded that "crypto is obviously serious." I'd rather be the jester calling out the naked king than courting the "serious" people in finance and politics.

I have seen criticism of #BTC22 and other Bitcoin conferences for high ticket prices, which are deemed antithetical to the open ethos of Bitcoin. A thread with some thoughts on the issue: That entrepreneurs (in this case, conference organizers) are attacked for high prices is a typical and pernicious effect of inflation. Don't blame the victim and spare your anger for fiat driving up costs.

Thanks, @danheld. I agree that gambling is a significant use case. I just doubt the following implication: People want fun ways to gamble BTC, but it does not deliver, so it loses one onboarding opportunity after another to alts.

https://twitter.com/danheld/status/1551239259176280065

First, the main argument was that BTC sucked at micropayments. But the main cost of payments is psychological aversion. This is why casino tokens and in-game currencies paid for in bulk up-front are better models for such businesses (no blockchain needed).