Bitcoin: store of value.  Yes store of value and medium of exchange just like a baseball card. Except more durable, more fungible, more divisible, more easily transportable, harder to counterfeit... Stop calling it currency  ? Because if you can realize that bitcoin is not currency because it is not a UNIT then you can realize that the US dollar is not currency because it is not a UNIT. That is what Ron Paul is really asking Ben when he asks can you define a dollar for me. He is really asking what is the UNIT called a dollar equal too? |
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Bitcoin: store of value. Yes store of value and medium of exchange just like a baseball card. Stop calling it currency I'm shocked. You've always argued with me that it isn't a store of value! I think currency will have to be redefined thanks to Bitcoin. Real's gunna change. Na I said it doesnt make sense as a store of value. A cell phone is a store of value, but every tech is guaranteed to fall in the wake of a new better tech. |
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Seems like it wouldnt be that big of a deal.
On the homepage of Ripple post 1 ripple ='s 1 KWH
Remove the limit and tie currency creation to its velocity. As more people decide to transact in it do what helicopter ben suggested and randomly distribute the new currency into clients.
That is how the central bank stabilize currency they create more of it as more people decide to transact in it.
I'll just point out that, in your hilariously ill-conceived joke of a system here, one would be able to create "energy credits" by trading ripples back and forth between yourself. Do you really not recognize this as a fundamental flaw of your insistence on tying a (subjective) currency with (objective) physical goods? Currency has been an objective UNIT most of human history. This is the way that the dollar works right now. The real problem is that the new units are given to banks and wall street. Ben had a good idea when he suggested dropping currency from a helicopter. |
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PRICE IT THE REPRESENTATION OF THE SUBJECTIVE NATURE OF VALUE!!!
Are there any units to measure subjective phenomena other than an arbitrary relation to collective consensus?If we attempt to measure collective consensus, we need to have a measurement that is fixed and not dependant on SUBJECTIVE NATUREOF VALUENo all units are a shared opinion. I am not sure what you are trying to say in the second line? |
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Bitcoin: store of value. Yes store of value and medium of exchange just like a baseball card. Stop calling it currency |
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Seems like it wouldnt be that big of a deal.
On the homepage of Ripple post 1 ripple ='s 1 KWH
Remove the limit and tie currency creation to its velocity. As more people decide to transact in it do what helicopter ben suggested and randomly distribute the new currency into clients.
That is how the central bank stabilize currency they create more of it as more people decide to transact in it.
I'll just point out that, in your hilariously ill-conceived joke of a system here, one would be able to create "energy credits" by trading ripples back and forth between yourself. Do you really not recognize this as a fundamental flaw of your insistence on tying a (subjective) currency with (objective) physical goods? There would be no reason to for someone to trade back and forth between themselves as they would not receive any of the RANDOMLY distributed new units. The knife would cut both ways. It would not only create new units when demand was high it would also destroy old units as demand fell. |
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Seems like it wouldnt be that big of a deal.
On the homepage of Ripple post 1 ripple ='s 1 KWH
Remove the limit and tie currency creation to its velocity. As more people decide to transact in it do what helicopter ben suggested and randomly distribute the new currency into clients.
That is how the central bank stabilize currency they create more of it as more people decide to transact in it.
I'll just point out that, in your hilariously ill-conceived joke of a system here, one would be able to create "energy credits" by trading ripples back and forth between yourself. Do you really not recognize this as a fundamental flaw of your insistence on tying a (subjective) currency with (objective) physical goods? PRICE IT THE REPRESENTATION OF THE SUBJECTIVE NATURE OF VALUE!!! |
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https://bitcointalk.org/index.php?topic=211858.240 Re: Marketplace trust
June 19, 2013, 12:03:07 PM
Man you guys are f@#$%d... I didnt realize what was meant by default trust.... f!@# you I dont trust any off you insiders. Especially TradeFortress there are numerous scammer threads about him... He is a lender! I dont trust lenders of coin! I trust who I trust not who you think I should trust. Shit is bullshit. Ya and Qweedo doesnt have any fing serious money. People that do dont go around begging for donations.
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Bitcoin is alot, and its ALSO a collectible. Now just look what people pay for magic cards or baseball cards, stamps, old hardware, whatever, if its rare, there are people "hoarding" it Currency= a system of money Money = store of value, medium of exchange, and UNIT of account. Unit's are definable in objective terms and are a constant. Bitcoin is not a UNIT so it is not a UNIT of account. It isn't currency. |
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The biggest misconception is that it is currency... it's not.
I have been harping on this for a while now, but here it is from the owner of second largest exchange BTC-china.
"China has been known as a nation of savers, who are always saving for a rainy day,” says Lee. ”Bitcoin is a digital asset, like real estate, gold, or stock. It is just one more option now. With Bitcoin hard-coded to be limited, it’s like a collectible.”"
It isnt currency.
It is a digital collectible.
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Ya douche the dollar hasnt been currency for 40+ years. |
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^  idiot. Here it is from the horses mouth. This is from the owner of BTC china. China has been known as a nation of savers, who are always saving for a rainy day,” says Lee. ”Bitcoin is a digital asset, like real estate, gold, or stock. It is just one more option now. With Bitcoin hard-coded to be limited, it’s like a collectible.” It isnt currency. |
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2- All units are equal to a constant.
So, what constant is a dollar equal to which makes it a unit? Presuming you mean the US Dollar 371 4/16th grains (24.057 grams) of Silver when it was established. This was done by taking a bunch of the silver coins then in circulation, measuring them and averaging. ............ All this aside, bitcoin is a unit of account, in the same way that all other currencies are a unit of account. Just because it's value and purchasing power change does not make this untrue. Time, date, payment, all are recorded in the block chain so it makes for a better unit of account than any other currency commonly traded. No it isn't... UNITs are definable in objective terms and are a constant. It is puedo-unit, just like the dollar. "Currency" after 1971 became no different than collectibles. After 1971 we started measuring an opinion with an opinion. We have been trading the equivalent of baseball cards or paintings. |
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No worries bro just wait for a crash they come along all the time. This price wont hold. You will have a big smile when it crashes back down. Buying now would be a mistake.
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Seems like it wouldnt be that big of a deal.
On the homepage of Ripple post 1 ripple ='s 1 KWH
Remove the limit and tie currency creation to its velocity. As more people decide to transact in it do what helicopter ben suggested and randomly distribute the new currency into clients.
That is how the central bank stabilize currency they create more of it as more people decide to transact in it.
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If you say that you are not trolling, then please explain what are you doing?
Or rather what are you trying to do?
What's the point of this thread? Trying to educate us?
I want someone to create a coin that is defined or to get the ripple developers to define ripple. I want a digital currency that can actually work and is capable of replacing the dollar Don't tell us, show us. Do it, if it can be done. If you can, I'll sing your praises and so will the rest of humanity. We'll name the currency unit after you. But please, don't try to convince us that it should be done, when we really don't know how it could (safely|effectively) be done; particularly if you don't know either. Fair enough, It is beyond my abilities. If you see a coin that fits that profile let me know. I want to support it. |
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I also have no idea what that is.
It is a wallet hosted by one of the hero members here on the forum. Thymos in his infinante wisdom decided to add him to the default trust list. This is what I had to say about it when I found out. He stole over a million dollars worth of BTC (accused of) Man you guys are f@#$%d... I didnt realize what was meant by default trust.... f!@# you I dont trust any off you insiders. Especially TradeFortress there are numerous scammer threads about him... He is a lender! I dont trust lenders of coin! I trust who I trust not who you think I should trust. Shit is bullshit. Dont trust the default trust settings. Bunch of crooks |
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It doesn't need to be pretty...fairly efficient with cold room temps. Anyone know how much power the stock AMD fans draw when you wind them up to 5K rpm?   You are gonna be pissed when that piece of paper falls out and you short out your card. |
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 ... Sorry bro, it is not a done deal you might get the coins back.
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