reply on: Will Pay Sats For Cowboy Credits \ stacker news ~AGORA

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41 sats \ 23 replies \ @Satosora 5 Jan \ parent \ on: Will Pay Sats For Cowboy Credits AGORA

How do you think they will price out in the future? Will it be pegged to the sat?

85 sats \ 21 replies \ @siggy47 OP 5 Jan

Of course they will always be worth less than a sat, but they will have some value because they are accepted as territory rent. It's kind of interesting. I'm sure @k00b and @ek have already figured it out.

41 sats \ 0 replies \ @denlillaapan 5 Jan

It's like the dudes have been reading MMTers. This is straight outta Warren Mosler

41 sats \ 19 replies \ @Satosora 5 Jan

If they knew, wouldnt they raise the territory rent? I thought they just lowered it?

61 sats \ 4 replies \ @ek 5 Jan

As far as SN is concerned, 1 CC = 1 sat.

Raising or lowering territory cost does not change that.

10 sats \ 0 replies \ @siggy47 OP 5 Jan

Oh yes. I'm sure of that. I meant you were aware of the arbitrage games that would be played. In fact you started it!

0 sats \ 2 replies \ @Satosora 5 Jan

Congrats on buying them so cheap then lol

20 sats \ 1 reply \ @ek 5 Jan

Only two took my offer though.

0 sats \ 0 replies \ @Satosora 5 Jan

Well, its still early. You might have more chomping on the bit soon.

20 sats \ 13 replies \ @siggy47 OP 5 Jan

I don't think the lowered rent had much to do with cowboy credits. I think it had to do with the fiat price of bitcoin doubling since rent was set, but maybe I'm mistaken.

41 sats \ 12 replies \ @Satosora 5 Jan

No, you could be right. I didnt even think of that. It would be interesting if they only had a certain amount of CCs, they could create their own economy and market. Lol

20 sats \ 11 replies \ @siggy47 OP 5 Jan

They're like the US Treasury. They control the cc printer.

41 sats \ 3 replies \ @ek 5 Jan

I know it was probably tongue-in-cheek but let me explain why printing CCs would be a bad idea:

Every CC has to be backed by sats because they’ll eventually turn into sats again via rewards or will be used for territory rent. So we would literally cut into our own revenue if we would print them.

25 sats \ 2 replies \ @siggy47 OP 5 Jan

Yes, it was tongue in cheek, but it's still good you explained it. It will take a while for everyone to wrap their heads around these things.

41 sats \ 1 reply \ @ek 5 Jan

Soon SNL will be like FOMC meetings lol

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41 sats \ 6 replies \ @Satosora 5 Jan

The US printer never stops. CCs are exchanged and then destroyed? I dont know the coding behind it.