Thursday, May 11, 2017

Why is it called the lender of last resort?

In the sandbox with free entry and exit (we expect defaults), the currency banker is the place to be, if you can afford cycle costs. We all want to get first look at the currency banker with our savings and loans. But 6 billion secure element holders would jam the place, unless we install a complex of trading pits and can segment by cycle costs.

But, I am sorry, there is no banker profit.  If your bot bets big, then pay the cycle cost and be deflationary. My bot hangs back, where it is less jammed.

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