132 karma · joined November 24, 2012
hijack#2 (slot machine): you get a notification when you receive a snap but you don't know what it is until you open it
hijack#3 (Fear Of Missing Something Important): snapchat stories disappear after 24hr, so if you don't wanna miss content from your friends you must make sure to log in at least once a day
hijack#4 (Social Approval): when you post a story you can see how many people viewed it
hijack#5 (Social Reciprocity): when someone sends a snap to you personally and not to their story you feel compelled to send something back
They have more in-depth talks on their channel, if I find some better links I'll give them to you.
I can't say this theory is 100% correct, though it does explain things like the housing bubble, the failure of the ECB policy, and eurozone deflation despite the ultra low interest rates.
So far, out of everything I've read and watched, I think their model is the one that better explains the current system of money creation, but if you have any alternative links with I'm always open to reading different things on this topic.
The money created by central banks only accounts for about 3% of the monetary base, the remaining 97% of money that circulates in the economy is created by private banks, lending money out of thin air. Therefore money supply is actually dictated by how confident private banks are to lend to the public. A central bank can try to incentivize lending by lowering interest rates, but in the end it's private banks who choose whether to lend or not (in Europe it didn't work so well..).
It's still a pretty fucked up system either way. I think more people should work on the issue of money supply, it's probably the single most important problem in any economy.
http://i.imgur.com/ZR1hNnr.gif
The difference between northern and southern Italy is staggering, it's like they're two entirely different countries...
I coded something like this myself a while ago. You can run it on a server or a local computer. The data is encrypted, no need to trust third parties:
https://blockchain.info/charts/n-transactions-excluding-popu...
This one shows a much higher growth. (Although this kind of data doesn't mean much, and i agree bitcoin isn't being used much for actual transactions)