bitcoin as a global medium of exchange (was Re: Interesting take on Sanjuro's Assassination Market)

[Ted Smith]

On Tue, 2013-11-26 at 11:07 -0800, Bill Stewart wrote:
> At 05:43 PM 11/25/2013, David Vorick wrote:
> >Bitcoin has a lot of problems.
> >Andy, the problem isn't the denomination, the problem is that 
> >Satioshi has 5% of all the currency, and the Winklevoss twins have 
> >another 0.5%. If bitcoin becomes worth 100 trillion dollars, they've 
> >got a solid 500 billion for being nobody and doing nothing. That's a 
> >problem to me.
> 
> Satoshi gave us the technology and got people to start using it.  If 
> he gets fabulously wealthy by owning 5% of it, I'm not jealous (well, 
> ok, a bit jealous, but I'm not going to contend that he shouldn't 
> have it just because of jealously.)

Absolutely. It's utterly absurd to claim that Satoshi got moderately
wealthy (not hyperrich yet by any means) by "doing nothing." There are
insights in Bitcoin enough to fuel dozens of PhDs worth of research, in
wider areas than you'd initially think.

-- 
Sent from Ubuntu
-------------- next part --------------
A non-text attachment was scrubbed...
Name: signature.asc
Type: application/pgp-signature
Size: 836 bytes
Desc: This is a digitally signed message part
URL: <http://lists.cpunks.org/pipermail/cypherpunks/attachments/20131126/8682b8a5/attachment-0001.sig>