Heya mister OP,

Coming from an engineering background this graph looks quite similar to the operation of a PID controller. As value is added to bitcoin from other sources (modelled as a step input, aka a horizontal line of some price equivalent on your graph), the price overshoots, undershoots, then eventually attenuates (stabilizes) around that value. Of course as bitcoin gains legitimacy greater and greater step inputs will be applied in the system, indeed resulting in a kind of huge black swan event when huge players of capital start to invest.

What this model fails to capture is that after there is no more major capital to invest (aka bitcoin has gone mainstream, TO THE MOON, etc.) the system will again attenuate, but much more quickly and with less variance because there is no (emotional and/or fiat-centric attitude) justification for the price to undershoot by so much.

Add a linear component after this date of stabilization to reflect the deflationary nature of the currency and you will have what I think is a pretty accurate model of how things will go down!

I'm excited to see if my theory turns out to be right.

This is so ridiculously hilarious. It's like designing a tank to be usable in space when there is almost zero likelihood that such a situation could actually happen.

Yes, that's all well and good we think some magically powerful, incredibly strong entity might be able to coerce decentralized pools and miners to accept its ultimatum that it be regulated under the statutes it deems acceptable or be seized, but there is near zero possibility that it could happen. You see, even the strongest government lives in a situation of checks and balances against not only the people that are complicit in its bullshit system, but the other governments worldwide that exist and hold power.

Should classical government come to the conclusion that mining pools act as "Money Transmitting Businesses," there is effectively zero initiative and zero precedent for any governmental or intergovernmental agency to act upon it. In fact, it would be a significant disadvantage to the "powers that be aka USA" to take such a hostile position to an asset class that could potentially find itself useful worldwide.

Mr. testicles (so hilariously named that if his testicles WERE made of this unusually heavy element they would almost instantaneously disintegrate, leaving him with zero malehood) has an unusually strong belief that some kind of new world order immune to global checks and balances would be able to control and pose a threat to individual miners. This is simply not true if you look at the present state of the world powers.

Many other arguments ("why are you posting on a forum instead of developing solutions" "why are you responding and allowing insufficiently technical discussions to further increase your own intelligence and credibility when there are apparently critical issues to take care of") also elude to his one-sided, egoistic view of the world.

I guess all I can say is I'm glad he's here endlessly contributing to ridiculous theories on forums instead of actually contributing to effective software which might be less effective due to his biased inputs.

The easiest method of attack would be shutting down the exchange of bitcoins with fiat currency.

Taking out the large exchanges would make finding the price of bitcoins at any given time more difficult.

It would be near impossible, however, to stop local bitcoin trading.

Price befuddlement in addition to illegality would prevent adoption by any meaningful scale of retailers (legitimate ones anyway).

So, worst case scenario is a very distributed network of exchangers and merchants. Not too bad, but more difficult certainly.

Yet it was like pulling chicken's teeth to get them to post a blurred picture indicating nothing more than this common format.

I used to lurk the forums but then I thought this up and joined..

Until now it was extremely difficult for artists (in any form, be it music, games, the written word, etc) to get their material to people, and thus gain acclaim and wealth.
With the advent of the interwebs artists can now pretty easily post their work and receive acclaim, but the acquisition of wealth in this manner is still difficult!
Bitcoins can change all of this! It becomes extremely easy to donate to your favorite artists with no fees, and without signing up for an account (e.g. paypal).

As bitcoins become a major currency, artists will have no reason to go through a third party to advertise, produce and distribute their wares.

Ergo, entertainment industries will become obsolete, and everybody will be better for it (besides the fat cats of course).

Now, this may not be viable for large artistic projects, such as movies, expansive games or physical artwork..

Additionally it requires people to not be leeches, but this is somewhat solved by the knowledge that without support the artist will have no reason to continue producing sweet sweet stuff.

Thoughts?