The quantity of money does not affect its flow. It's not like exchange particles, where lower densities leads to lower transfer of force. Any quantity of money, as long as it is divisible, can attain a sufficient value…
People trading goods and services cannot be a sham. Your definition of a sham is "something I believe will depreciate".
"The prospect that it's not a currency is what makes it attractive to hoarders. Hoarders/investors don't want Bitcoin to be a viable currency; they want it to be an investment commodity. " Bitcoin will not be a good…
But this contradicts itself. If it makes it a lousy currency, then people wouldn't expect its value to rise, and hence would have an incentive to spend it, hence it would be a good currency and its value would rise.
People are not all going to hold on to it and not spend. Some people are going to feel that due to hoarding, it won't become a currency, and hence it's not a good investment, and will be more likely to spend.
"Think of the psychological effect of having to CONSTANTLY lower your prices on your goods. At some point, you'll hang yourself. You want to charge more, not less. It is absolutely depressing and has a real effect."…
This is not a case of bitcoin being run by any one, this is an independent party running a service dealing with bitcoins, and their service failing. Your comment is like asking the dollar to be dragged behind the shed…
It's funny that the US is spending so many billions of dollars trying to sabotage Iran's economy and nuclear plant, when the country poses zero threat to the US, and the US faces enormous fiscal challenges. When I write…
A depression doesn't mean a sudden drop in market prices. It means persistent GDP contraction, which has nothing to do with the value of a currency. The drop is also not the first bitcoin has had. It's been highly…
That's a good point, but if he studied the protocol, he should still know when bitcoins stop being generated and how divisible they are. ---You could tie an upgrade of the protocol to a consensus by a majority (or…
He's studying the protocol yet doesn't know when generation ends or that each coin can be divided down to the eight decimal place. It doesn't give me confidence he has done a thorough job. The author also writes: -- Due…
These parts suggest the author doesn't understand it that well: -- I can't speak to the economic implications of limiting # of bitcoins to only 21 million -- it's probably based on the fixed rate of coin generation and…
" As someone else pointed out, in a pure capitalism, we'd have slaves, child porn, thugs for hire, assassination contracts, etc." No you wouldn't. All of those things are the exact opposite of capitalism, since they…
Capitalism means non-government intervention in your voluntary agreements and interactions with others. In other words, it's freedom.
The quantity of money does not affect its flow. It's not like exchange particles, where lower densities leads to lower transfer of force. Any quantity of money, as long as it is divisible, can attain a sufficient value…
People trading goods and services cannot be a sham. Your definition of a sham is "something I believe will depreciate".
"The prospect that it's not a currency is what makes it attractive to hoarders. Hoarders/investors don't want Bitcoin to be a viable currency; they want it to be an investment commodity. " Bitcoin will not be a good…
But this contradicts itself. If it makes it a lousy currency, then people wouldn't expect its value to rise, and hence would have an incentive to spend it, hence it would be a good currency and its value would rise.
People are not all going to hold on to it and not spend. Some people are going to feel that due to hoarding, it won't become a currency, and hence it's not a good investment, and will be more likely to spend.
"Think of the psychological effect of having to CONSTANTLY lower your prices on your goods. At some point, you'll hang yourself. You want to charge more, not less. It is absolutely depressing and has a real effect."…
This is not a case of bitcoin being run by any one, this is an independent party running a service dealing with bitcoins, and their service failing. Your comment is like asking the dollar to be dragged behind the shed…
It's funny that the US is spending so many billions of dollars trying to sabotage Iran's economy and nuclear plant, when the country poses zero threat to the US, and the US faces enormous fiscal challenges. When I write…
A depression doesn't mean a sudden drop in market prices. It means persistent GDP contraction, which has nothing to do with the value of a currency. The drop is also not the first bitcoin has had. It's been highly…
That's a good point, but if he studied the protocol, he should still know when bitcoins stop being generated and how divisible they are. ---You could tie an upgrade of the protocol to a consensus by a majority (or…
He's studying the protocol yet doesn't know when generation ends or that each coin can be divided down to the eight decimal place. It doesn't give me confidence he has done a thorough job. The author also writes: -- Due…
These parts suggest the author doesn't understand it that well: -- I can't speak to the economic implications of limiting # of bitcoins to only 21 million -- it's probably based on the fixed rate of coin generation and…
" As someone else pointed out, in a pure capitalism, we'd have slaves, child porn, thugs for hire, assassination contracts, etc." No you wouldn't. All of those things are the exact opposite of capitalism, since they…
Capitalism means non-government intervention in your voluntary agreements and interactions with others. In other words, it's freedom.