On The Formalizable and Comparable Nature of Bitcoin’s DAA and Central Bank Interest Rate Targeting
It was the observation of a new “line” that has become popular with those responsible for “central banking” functions relating to national currencies that gave us the idea for the study of “asymptotically ideal” money.
The idea seems paradoxical, but by speaking of “inflation targeting” these responsible officials are effectively CONFESSING that, notwithstanding how they formerly were speaking about the difficulties and problems of their functions, that it is indeed after all possible to control inflation by controlling the supply of money (as if by limiting the amount of individual “prints” that could be made of a work of art being produced as “prints”).
And so we learn the formalizable and comparable nature of bitcoin and central banks.
The interest rate (and perhaps especially the change of it) of a central bank is the difficulty.
The demand for credit by the people represents the miners.
Inflation, or rather the issuance of credit, is the hashrate or effects it etc.