I'm not convinced that we need a digital financial system in addition to our existing system which works perfectly well during a time when we should be looking at ways to reduce our energy consumption. Before accepting scientific evidence you need to look carefully at who sponsored the research. - ThreadSky

johnwjaggard.bsky.social • 8 days ago

I'm not convinced that we need a digital financial system in addition to our existing system which works perfectly well during a time when we should be looking at ways to reduce our energy consumption.
Before accepting scientific evidence you need to look carefully at who sponsored the research.

Comments

bitcoinbro.bsky.social•8 days ago

You think our current money is just fine? mf you haven’t taken a hard look. lol 😂

johnwjaggard.bsky.social•8 days ago

That depends on your viewpoint. From here outside the western hegemony it looks fine.

ngmi.co•8 days ago

i remember the regional banking crisis a couple years ago being exasperated by mobile app withdraws because settlement infra at banks were built for when people had physically go to a branch, and then the Fed had to launch BTFP to save the banks
https://en.wikipedia.org/wiki/Bank_Term_Funding_Program

johnwjaggard.bsky.social•8 days ago

Where I live here in China everything is done on the mobile. Can't remember the last time I needed to physically visit a bank.

ngmi.co•8 days ago

i mean dollar/euro account systems to work well relative to lots of the world but i wouldn't say it's perfectly fine, more like its well enough until a stress event happens like 2008 global financial crisis, eurozone crisis, uk gilt crisis, yen carry trade unwind, regional banking crisis, etc

johnwjaggard.bsky.social•8 days ago

Increases in the dollar base rate are causing issues with a lot of developing countries. Most trade in Central Asia is now done in Chinese yuan. Other places have switched to local currency.

ngmi.co•8 days ago

to an extent yeah, if dollar-debt becomes too expensive the foreign banks and institutions become reluctant to use dollars, and we can see that in drop in foreign lending (unless stronger dollar helps that countries exports)

still, yuan comprises 4% of global trade
https://www.reuters.com/world/china/china-ramps-up-global-yuan-push-seizing-retreating-dollar-2025-04-29/

ngmi.co•8 days ago

I guess its possible that the faculty of science at a Norwegian University and Cornell were paid off by malicious sponsors but I would argue sponsors don't matter either, it doesn't change science. All that matters is if it is:
• Independently verifiable
• Falsifiable claims
• Narrow predictions

johnwjaggard.bsky.social•8 days ago

I used to think that. However reading papers on climate science from a variety of sources makes me look very hard at just who the sponsors are.

ngmi.co•8 days ago

was the science actually bad though?

with good science we should be able to see sponsors we don't like and concede that the research they funded was verifiable, testable, falsifiable and narrow enough to say it was right or wrong.

johnwjaggard.bsky.social•8 days ago

In some cases the results we shall we say 'biased' to put it mildly. Not actually incorrect but with emphasis on those aspects that their sponsor favoured.

ngmi.co•8 days ago

true, we always have to watch for Russellian conjugation

ngmi.co•8 days ago

E.g. if a solar energy company sponsors research that claims the Earth is angled at 23.5 degrees relative to the Sun and therefore we’d expect the Sun to rise here in the winter and over there in the summer, it's not wrong because solar company has a vested interest in knowing how the Sun shines.

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