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The video is now up: http://www.youtube.com/watch?v=5fsUMoHZ1cY#t=857sThe forms can stay very much the same, the substance can shift quite a bit, and I think something like that has happened with money. The challenge with creating alternate currencies is that it's very hard to get the network effect going. My own theory would be the only kind place to create an alternate network effect, if you really want to create an alternate currency, would be for it to gold-based. There are enough people believe in gold that you could probably get it to the tipping point. Starting something completely different from scratch I think is very hard to do. I'd have a lot more thoughts on it, but I would say you want to go with gold |
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The whole conference was so encouraging because of raw numbers (over 1000 libertarians) but it was rather sad that it was more about shiny suits than debating ideas. I would have loved to give a presentation on bitcoins, spectrum property rights, and inevitable deflation of the federal reserve system to spark at least something. The Stossel taping that will be showing on Thursday was also rather sad, John Bolton was a complete tool and the crowd rightfully booed him, but I'm sure it won't play well on television.
Unfortunately, Students for Liberty tends to stay on the Cato/Reason/IHS/FEE side of things, and in an effort to maintain the appearance of consensus and consistency doesn't bring up the controversial edge cases (such as regulating the spectrum as you mention) of applying libertarian philosophy to stage, so all we get is the simplistic/cherry-picking version of libertarianism from top-down that people like Stossel exemplify and inevitably condemns libertarianism to the margins of politics. However, I had great discussions with other attendees and it seemed to be a great opportunity for networking. |
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This weekend I was at the International Students for Liberty conference where Peter Thiel gave the opening keynote. I asked him about PayPal's crypto-anarchist roots and the future of Bitcoin and currencies that might follow (in retrospect, I should have specified Bitcoin, because he was a bit vague with his response), and he seemed somewhat fond of the idea, hinted that some sort of cyber-currency future is inevitable, but said that Bitcoin isn't likely to have the network effects necessary to take off, and said that gold-backed currencies already have a great deal of support, and would serve as a better fit for a competing currency. He said that he would have more to say on the topic. Someone I talked to who attended a private social with Thiel mentioned there was an impression that Thiel hadn't done his homework when further questioned on the topic. I don't have his exact response, but I know the event was taped, and suspect that videos will be uploaded by Students for Liberty after editing. Edit1: CoinSpeculator shares details of a more in-depth discussion with Thiel https://bitcointalk.org/index.php?topic=64610.msg760848#msg760848Edit2: The official video of his response is up: http://www.youtube.com/watch?v=5fsUMoHZ1cY#t=857s |
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This is indivisible precision, right? How about bitatom? or qubitcoin (quantized bitcoin)?
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Can anyone preach the truth with me in Philadelphia?
I'm trying to start a Philadelphia Bitcoin User Group, and as of now I'm in negotiations for hosting it at a local hackerspace or anarchist space. Also dying to get out of this Ellis island. Edit: Anyone interested should contact phillybitcoin@gmail.com |
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Yet I disagree on copying the design of a regular gold-ish coin. If we create a new currency, why keep the old meaning of a coin (especially a virtual one). I feel the same way when a new website/service appears with old symbol for mail (the simple letter) or search (the looking glass). Let's do something new !
Exactly. The gold coin rendered logo looks a bit awkward with the new symbol because the stroke width is uniform and the design is simple, makes it look more like an arcade token than the serifed letters made to last the wear and tear of daily use as a currency. Not the kind of thing to inspire confidence in a currency when it looks like a disposable token. We need to subtly and symbolically communicate how the collective computing power of a P2P network can supersede the scarcity of precious metals. This new symbol looks good, just not on a metallic coin. |
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When it comes to "what gives it value" I usually take the Socratic Method here, and try to put things into perspective by asking what gives any other form of currency its value. If they say money has the backing of the government, bring up how that might not always be the case as with Zimbabwe's hyperinflation. If they say bitcoin has no intrinsic value and they raise gold as an example, highlight how any industrial application of gold is minute compared to what value it serves just because of its scarcity.
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