Nobody Understands Cryptocurrency, And That's Ok

[juan]

On Mon, 16 Oct 2017 23:02:01 +0000
"\\0xDynamite" <dreamingforward at gmail.com> wrote:

> On 10/16/17, juan <juan.g71 at gmail.com> wrote:
> > On Mon, 16 Oct 2017 15:20:56 -0500
> > "\\0xDynamite" <dreamingforward at gmail.com> wrote:
> >
> >> What bitcoin NEEDS TO DO is restrict itself to the Creative Economy
> >
> > 	why? and restricted by whom?
> 
> Why?  So it can understand itself?
	
	what? 

> By whom?  By Mr. and Mrs. Better Reason.

	...


> 
> >> (limit itself for purchase and exchange of purely informatic goods,
> >> like news, music, etc.)  and THEN see how bitcoin translates into
> >> physical "real-world" currency.  That is, it makes no sense to
> >> compare or exchange physical currency to bitcoin as bitcoin is not
> >> associated with actual real-world value
> >
> > 	what's that supposed to mean? Although bitcoin is not
> > commodity money and so it doesn't have any value apart from being an
> > 	accounting mechanism, bitcoin's virtual' value can be
> > associated with anything....
> 
> You don't understand.  I see.

	Yeah well. You know fuck about basic economics? 


> 
> >> (like oil, metals -- things that have
> >> intrinsic value and hard to reproduce).
> >
> > 	...still you can use bitcoin to pay for those, just like you
> > 	can use the even more worthless govt money. It's not an
> > ideal situation but it kinda works...
> 
> To my knowledge, no one has given any gold or oil in exchange for a
> made up currency like bitboin.  Why?  Because it doesn't know how to
> do what the US has done -- even if the US did it without understanding
> it.

	bitcoin is less of a made up currency than the US dollar or
	any other govt money. Surely you realize that? 


>  (The US accidently made its dollar tied to a real value by
> limited inflation.  Their monitoring of inflation made it get tied
> (without them probably even knowing it) to oil and perhaps ag
> production)).  This is what has made US currency the most valuable.

	In other words you know exactly fuck about economics and are an
	apologist of the US nazi currency. 'limited' inflation isn't
	the only reason why the dollar is kinda 'accepted'. The real
	reason is GUNS. And obviously the dolar isn't 'tied' to oil
	since the oil price in dollars...you know...changes. Or perhaps
	you don't know that? 

	Also, bitcoin inflation is a lot smaller than paper money
	inflation. So as per your own logic it should have more
	'value'. And, so far, it does. 



> 
> >> If bitcoin were to become THE only currency for informatic goods on
> >> the internet, exchanged predominantly *virtually*, then it doesn't
> >> matter the "exchange rate". because its value is entirely related
> >> to how people value the informatic goods online.  Perhaps someone
> >> will give 1000 bitcoin for song A,
> 
> > 	lol I thought we 'agreed' that there's no software theft
> > cause there's no software property...so you don't need to pay shit
> > 	for songs...
> 
> That's right you don't NEED to.  But what do you do when no one
> produces any songs because they can't get enough money to produce
> them?


	dude - go learn the ABC of arguments against your pro
	intellectual property bullshit.  I'm not going to repeat them
	here. 

	your fucking songwriters can sell hot dogs on the street
	and then go home and write songs.



> 
> The problem is that Bitcoin is a solution in NEED of a problem.  You
> get it?

	You are out of your fucking mind, aren't you? Bitcoin would
	prevent your fucking nazi government from printing trillions of
	fake money. Ditto for any other government. 
	
	At any rate, you've made it quite clear that you don't
	understand how money counterfeiting by govt is a very
	serious problem and how bitcoin solves it. 

	It of course can be argued that there are better ways to solve
	that problem but I don't expect you to make those arguments.




> 
> The problem is that:
> * people want to trade stuff online,
> * they also want better quality stuff availble online,
> * also want avoid giving credit card data online
> * some want to disassociate with US currency
> 
> People with sound economic knowledge want these things also:
> 
> * currency that is associated with actual value that is difficult to
> reproduce
> * is easily passable
> * makes producing social value more efficient.
> 
> The suggestions given will accomplish that by tying bitcoins to the
> unit value of virtual WORK (your opinion expressed by a vote).
> 
> Marxos
> 
> So how are you going to do that


	I don't have to do anything. You on the other  have to go
	learn the ABC of economic theory.