The issue of semantics was non-existent. I was asserting I wasn't asking basic questions. I was simply making the implied argument that the posted was a sophist who used lower parts of his/her brain. Basic questions? Really?

So, I can't argue against them not being alleged basic questions?

The argument was that the blocksize from 2009 inspired more processing power in computer in equipment for Bitcoin in contrast to the white paper, which the whitepaper was arguing for decentralization (more than likely with a shared system, like P2Pool). This Satoshi Nakamoto event has had an effect on P2Pool ever since: And I want to see if anyone will admit or deny that and why.

Well, if Bitcoin is the currency of the Internet, then it would appear that drugs, guns, and child pornography have been tightly linked with the Internet's purchasing power parity, whereby more of these illicit materials can be bought with BTC than USD (BTC has more value than USD in relation to drugs?). I can understand drugs and guns, but I don't see how a person trying to create his or her own independent government would need child pornography.

I've been looking at this as how a person might be creating a self-autonomous government with various funds and resources while considering purchasing power parity. I assume the BTC purchasing power has been in it's ability to be somewhat anonymous (if you mined for it and/or cover tracks).

I saw the Big Mac index aspect. With a particular currency you can either buy more or less Big Macs with that particular kind of currency. It just seemed like there was some kind of pattern related to drugs and illegal material that I wanted to understand. I guess there was an "easiness" factor in relation to getting materials that I found odd. When you're using the money of the Internet, "Bitcoin," it just gets easier to get certain things. I took a look at some Silk Road prices, and it appears that it was just cheaper to buy stuff on Silk Road than "the street." It appeared that was very much so if a person was using Bitcoin rather than USD, thus the process of shorting USD and using BTC created financial incentive for reduced prices.

For what I understand, Bitcoin works to delimit a nation's inflation and reduce it's money supply (deflate it). Through this inflation-control, the debt will begin to decrease (via deflation).

I think it (the market cap. getting to 80.9 Billion USD) will take less because there is a "learning curve" associated with using Bitcoin.

I've been eyeballing and analyzing the year, monthly, etc.. interest rate. I understand there was a steep curve at first, but Bitcoin is now transitioning in the upward direction.

In the biological sciences, there is something called a doubling rate. This relates mostly to bacteria and other microorganisms. Bitcoin is like a biological pathogen (coinmap.org) in that it has an epidemological aspect to it (it's growing like a biological organism). The doubling rate is getting faster (4 months now?).

The interest rates are going to be ridiculous (up and away). Social change is going to be ridiculous. I've read the power behind it is greed (I'll argue people want to see changes THIS--right here and now--lifetime). As such, the here-and-now desire for social change is propelling Bitcoin. Given that there is so much technological output (ability to track how this thing is moving), it's growing at a very popular rate now.

Society is learning to use Bitcoin. Simple as that.

From my background in studying psychology and learning, it appears that the curve is taking the form of a learning curve, whereby exponential learning is occurring: Market psychology--people are taking to Bitcoin. Also, the methodology that Bitcoin uses is pretty legit and works with the law of entropy: The thing is that the whole system resides on Earth making it really easy to manage.

Furthermore, I've read of Bitcoin fitting onto an S-curve (source: http://woobull.com/woos-law-of-bitcoin-user-growth-bitcoins-adoption-curve/).

Bitcoin isn't moving like a stock market ticker. It's kind of like a stock but only a very, very, very small amount.


I'm looking into this issue. Not many people are talking about it.
So far, I've been looking at the Federal Reserve print orders and looking for statistically significant decreases in print order value: https://www.federalreserve.gov/paymentsystems/coin_currency_orders.htm
https://www.federalreserve.gov/paymentsystems/coin_data.htm

image: https://www.federalreserve.gov/paymentsystems/files/coin_calprint.jpg

The amount of national currency to be printed for a print-order should decrease each year (this is in relation to the U.S. national-level understanding), for what I understand, because Bitcoin is supposed to get rid of inflation, thus increase deflation, thus cause less money to be printed out until Bitcoin replaces that form of currency. If you look at 2009 to now, it appears that on average the value of money to be printed has decreased.

Ok. I like your response. I'm not sure it would take 10 years to get to $80.9 trillion USD. I think it will take less. I find it interesting that you say that "...does not mean countries will accept bitcoin as a form of currency as those who won't adopt won't still adopt..."

Part of me thinks that what will happen is that the general public will use Bitcoin for everyday transactions when the Bitcoin market cap. reaches $80.9 trillion United States Dollars. Large government institutions will still, however, refer to various values (such as national debt) in their original form of currency. For instance, that is like saying that the typical U.S. citizen (8 years from now) would be using Bitcoin to pay for groceries. However, when it comes to the issue of the United States national debt, the national debt would be listed in United States dollars rather than Bitcoin.

I think people will start to use Bitcoin as soon as possible, because it's an extremely efficient way to reduce national and world debt due to how the money is tracked. There may be social complications (such as only shopping for groceries once every three weeks rather than each week), but I think people would be willing to deal with those social complications in order to decrease the larger financial complications (such as national debt and world debt).


I think you make an interesting argument. However, I believe there can be a maximum Bitcoin to US Dollar cap but still more value for Bitcoin to obtain. I think that may mean there is an alien planet out there in the universe with a larger if but more valuable money supply than the United States. If such were to exist, I think it would be discovered near the time all of the United States dollar supply is distributed amongst Bitcoin market cap.. Otherwise, complete distribution of the United States monetary supply, equally amongst Bitcoin, would be the maximum market cap. of Bitcoin in relation to United States dollar (assuming no alien planet).

website: http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/

What do you think will happen when Bitcoin market cap. hits $5 trillion USD?
What about (broad money) ~$80.9 trillion?

I wasn't sure if I should throw this in the economics sub-board. I mean well, it's just that I'm trying to understand more about Bitcoin and its future.

Of something I've studied today is called "purchasing power parity." I also studied some stuff about exchange rates.

Although I could not find someone saying it's true, am I right to understand that it's stupid easy to get a hold of drugs once you buy (or, otherwise said, are in possession of) Bitcoin, as if people just start advertising drugs to you once Bitcoin is in your possession?

I guess that's to say that Bitcoin has a lot of buying power when it comes to drugs relative to the US Dollar. So, it's "cheaper"/easier to buy drugs with Bitcoin than the US Dollar?

Let's say I buy 1 Bitcoin for $2296.25 USD. I notice that the USD price value of the Bitcoin drops to $2093 USD, and let's say I want the US dollar amount, so I sell the Bitcoin at $2093 USD, whereby 1 BTC is selling for $2093 on the market.

Is that to say that the US dollar supply has deflated and that I am still, nonetheless, close to breaking even (assuming resistance along a network)?

That's the correct interpretation, right?

Because if Bitcoin works to significantly reduce the double-spending problem, then the (2296.25-2093=$103.25) $103.25 USD I "lost" was actually reallocated into society (1st law of thermodynamics). Thus, the ~$103.25 USD was used to benefit society (all of the Universe, socially) as a whole?

Or is that an incorrect interpretation because the "lost" money is allocated into society rather than my profits?

Or is it better to consider the drop in Bitcoin price was actually a reallocation of Bitcoin market cap. profits to society?
--> I guess that's like saying if the Bitcoin price drops, the market cap. was re-allocated into society, correlated with (if but causing) deflation of USD (if but all money), thus giving my $2093 the same (except a little resistance) buying power as the $2296.25 (used to buy the 1 Bitcoin) due to how Bitcoin reduces the double-spending problem: So, it's like I broke even because the amount of USD I obtained from selling the 1 Bitcoin is similar to the buying power of the amount of USD used to buy the 1 Bitcoin in the first place, right?

*sorry for edits

I'm interested in comparing and contrasting Bitcoin with any kind of altcoin had it's blockchain started with libsecp256k1.

In other words, is there any altcoin out there that started building its ledger with libsecp256k1 rather than OpenSSL?

Hello,

I'm still trying to understand how P2Pool works. How do I find a list of P2Pool servers? The idea is that I make a node and connect to a server, right? I can't quite visualize how all of this works, despite looking on Google for information visualizations. The image I saw on the Bitcoin wiki didn't make much sense, seemed too technical.

There are multiple servers, right?

Is there like one main server? Or do a bunch of nodes together make the server?

I read and read but it doesn't stick/make-sense. So, hopefully, I can talk to people about this.