Full node FUDsters, please note: PRUNING  |
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what stagnation?  |
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up 19.2%. gold sub 1200:  |
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traderCJ, DZZ up 18%:  |
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oh Lordy. not again! Gold collapsing. Bitcoin UP:  |
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Silver getting bitch slapped
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Gold Collapsing. Bitcoin bottoming.
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well, but there is a difference between losing money of government/bank-backed fiat kind and losing decentralised BTCs, right?
In the first case, there are certain guarantees to protect you from a loss, even if that means 'let's print some more money', in the latter case, once the money is gone it is gone for good. Unless the receiving party will send it back to you. I just can't find the reason for doing so.
In the former case the banks loss is covered by increasing everyones premiums and insurances or with a bail out by governments in the form of QE monetary dilution. In the latter the company that lost all the BTC either goes bankrupt or recompenses customers loss, plus all of their contemporaries are incentivised into making stronger storage systems. When you come down to it, the primary complaint detractors have against bitcoin is they cannot socialize their own losses, that are a result of their own incompetence, on others . The prospect that they will directly bear the consequences of their own bad decisions, and not be able to force their loses on others, scares them to death. Those of us who are sick and tired of have other people's losses forced on us (as uki promotes), look at bitcoin as a salvation. It's even more than that. It's that with Bitcoin they recognize they can't purposefully exploit the system to their own advantage for enormous profits, let alone offload their losses. |
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The trick is not to panic about "how the market could possibly handle it without central planning." No one is smart enough to figure out all the little rules and stipulations for each economic relationship, let alone do so in advance, let alone get consensus on such rules. Just remove the cap and let the market work. Babying the market with paternalism in the form of artificial scarcity just leaves the space open for competitors to stick their oars in.
Well said. You (rocks), justusranvier, the guy you quoted (not going to try to type zangle....), and a few others are, in my opinion, some of the smarter guys on this forum. Thanks for sticking around. Sorry for not thanking you sooner. Please don't leave us. Just because mindless trolls and zombies are grunting and bumping into each other does not mean it is time to leave. I am not a conspiracy person but have wondered if some of the trolls are not hired shills... There IS a lot at stake here. Free markets work. In this situation where we have few to none of the categorized market weaknesses (negative externalities, pop culture, public goods) freeing the market while minding incentives in the structure of the system is best. Nodes, at this point, seem to be victim to the public good weakness but everything else is flawless. I run a full node as well as some miners (at a loss and since 2010) because I am altruistic in spite of my admiration for "Atlas Shrugged." We just can't expect everyone else to get gushy over my love of humanity and the beauty of this bloodless revolution so incentives need to be in place for the brightest future. Invisible hand (Adam Smith) only works when it is invisible. if you haven't signed your nodes up for the Incentive Program, you should. a few days ago i signed my 4 up: https://getaddr.bitnodes.io/nodes/incentive/ |
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Bullshit
ain't that perrrrty:  |
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