[tor-talk] Is there any societal use in Bitcoin?

[grarpamp]

On Mon, Sep 4, 2017 at 12:31 PM, Aymeric Vitte <vitteaymeric at gmail.com> wrote:
> Le 04/09/2017 à 18:04, grarpamp a écrit :
>> Instead of whining about volatility, understand that
>> cryptos are not centrally manipulated like fiat
>
> Unfortunately I think they are for now, for reasons already explained
> and I believe that prices are manipulated too

I mean not in the traditional way, such as literally
printing or burning money... if a central government
and banks were buying up 10's of $Billions of coin
and sending them to the digital bitbucket, that
(futile due to divisibility) expense would hit the news
before long. Disruptive whaling has similar identifiability,
and later diminishing returns under greater adoption.
And they can't economically print it.
They might be able to hold or bond it out as investment,
but that's normal expectation and not innately evil.

They could attack the networks and protocols,
but at least so far maybe there is not much news there.

They could regulate, but eventually if the coin is
private anonymous overlay and so forth, it will
overpower regulations.

> maybe this is linked to
> http://www.peersm.com/fractals/
> "Then we can now easily forecast the
> price of Bitcoin and become rich", this if for fun right now and I
> should continue it but the answer at the end is that the very same thing
> did reproduce again, and does reproduce whatever external event occurs,
> always the same thing...

Yes pattern has been seen often. Maybe the network is
actually more or less free running and the pattern is simply
the human response curve to external events.