People consistently confuse BTC monetary base growth with inflation. Inflation is a change in PURCHASING POWER, and this has never been negative (outside of the crashes) for BTC after the existence of effective exchanges. Even if the money supply was expanding 20-30% in a year back in 2010 the user base was growing sufficiently fast and the utility from that wider network as adding yet more value to mean that their was never inflation. Their has only ever been deflation and it has averaged something like 1000% a year over the long run, well into anyone's definition of hyper-deflation. Regardless of your opinion on inflation or deflation don't be confused as to the actual history. https://en.wikipedia.org/wiki/InflationModern Definition there is some legitimate debate as to the meaning of inflation. Traditionally it was used to describe an expansion of the money supply. It has gradually lost this meaning and been replaced with the more politically friendly meaning of a change in purchasing power. It should be noted that we are still in the transitional period and neither meaning is "incorrect" you just need to define your terms when talking with people. Austrian Inflation Definition http://austrianeconomics.wikia.com/wiki/InflationBoth tell us different things; however, the Austrian definition is immune to manipulation. Money supply is a fixed metric. One can make incorrect inferences from it, yet it is still objective. CPI calculation is not objective and has many critics: http://www.investopedia.com/articles/07/consumerpriceindex.asp. |
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Hal, I've been trying to preserve the history of Bitcoin (especially the early days). Is there anything you'd like us to archive for future bitcoiners?
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After reading many posts in this forum, it's clear there is some dissent in the community regarding the nature, mission and true purpose of the bitcoin foundation. As a community, what do you feel we should focus on? I'm legitimately curious. Bitcoin has moved well beyond just a plaything for computer scientists. It is here to stay and will soon enter an area that is both brutal and very old filled with massive banks and sovereign governments.
We have a serious PR problem in the media and there still exist serious barriers to entry for normal people to safely use bitcoins in daily transactions. If you were king of bitcoin land for a day, then what would be the first item on your agenda to improve or change? Does the foundation connect with your vision or is there a divide?
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jesus didn't have a PGP key
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No offense, but why would you need him to PM you, why can't you just agree to let him lead right now? Because he has to make a commitment to serve. I see what you're trying to convey, but this isn't the same. I have outlined a very clear set of goals and a purpose that I think this community can embrace. If he wishes to help, then I will not say no. Out of respect for those who have already committed to serve, he must be proactive enough to contact me. There is plenty of work to go around and we could use him. |
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I know a guy named dank who would love to join your group and take a leading role in the promotional work. He is very...creative. Will you let him do whatever he wants to prove you're different? The goal of my course is to provide accurate, comprehensive and often updated material to allow a curious person who has little knowledge of bitcoin to effectively understand how our money works, why it has value, the technology the risks and entrepreneurial opportunities and finally the economics of a deflationary currency. Always free and crowdsourced with a preference for members who have been in the community long enough to fully understand at least one topic area. Think of this like lifting the veil and thus allowing someone to just walk into the community. If you feel your friend can contribute in a positive way to this project, then tell him to send me a PM. |
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Ego much? He already is, he doesn't need your site to accomplish that. Like it or not, Bitcoin has a barrier to entry like the internet of the 1980s. My goal is to bring the veterans of this community together in an attempt to build a path for anyone who has the desire to enter much more smoothly than we did. Jon is a voice in a small passionate community. The foundation and I both know that as this community expands those who are omitted from the conversation will fade in relevance until only the pioneers remember them not any of the rank and file. My point was that Jon has earned a place in the mindscape of bitcoin and if my course turns into what I think it has the potential to do, then he is guaranteed it if he participates. The Foundation is misguided. They are closing doors to make Bitcoin into something PC and regulatable. My goal is to just open a door for anyone who wants to come in and let them make their own decisions. That's the freedom, we deserve. The claim that nobody cares enough to make a pull request has been put to the test and show to be a lie. Somehow, deciding on the representation of the community is dependent on knowing the full parameter and switch set for the git command and the pull-request mechanism of github. As soon as someone overcomes that barrier, out come the slanderous accusations, cherry picked quotes and vague scenarios of doom. Matonis will destroy bitcoin if he's allowed to represent bitcoin. I didn't much care about the issue. Until it became an issue of power, control and censorship. See, there's a huge difference between using your power and control over the bitcoin.org domain to invite your buddies and favorite pundits, and using that control to exclude people because of your opinion. Despite all the hand-waving and word games, it's a power grab, it's censorship, it's condescending and it makes me furious. The conversation is exposing these excuses for the bullshit they are. Whether you care about Matonis being on the press list or not, some of you might care about the fact that 2-3 people are arbitrarily making the decisions, based on personal animus and a purposefully convoluted opaque and capricious process that is being used as a cover for raw abuse of power. That's enough to pick a fight with me. Join github.com use the free account and make your voice heard here: https://github.com/bitcoin/bitcoin.org/pull/161Based on previous experience on this topic, they will arbitrarily shutdown discussion in a few days at most. Do it now, or accept that bitcoin.org is the personal playground of a couple of people who don't care what the community thinks. Aantonop is absolutely right. No one has the right to control bitcoin. We have allowed governments to usurp the internet, banks, money, speech and even life and death. We cannot let some group of people believe they can form a foundation and then suddenly control who represents "mainstream" bitcoin. It's offensive and the anathema to everything this community stands for. We should focus on making it easier for people to enter the world. To become entrepreneurs within it. To conduct commerce. And to participate in spreading the experiment to everyone. Not saying "this guy is way too extreme; let's ditch him". |
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Nothing, but it makes loans more difficult and also its hard for economists who like a consumer economy to accept a money with an incentive to save built in.
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Thank you for this link. We can only wait at this point.
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What about the changes to my Mother's Day Plans pull request?
But you can see where this is leading. People who are left off are going to be mad and people on there are going to be watched. I am trying to put together bitcoins.info as fast as I can where I will add everyone. The bitcoin.org is going to get a lot of media review during the conference in a few weeks so I don't see why all these changes are being made now. The developer in charge of the site said he wasn't going to make changes due to the controversy so I was surprised to see more changes so soon. It's a good old fashion takeover. We'll win in the end. |
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Exactly, just need to scale down, but they started bottom up first not realising the challenges that lie ahead. It is fraud. They knowingly took money to deliver products they had no reasonable way of knowing would work. Should the development fail, then there was no way to refund the money nor deliver the product. |
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yeah hes a fat bastard but he is the most mellow cat ever. It makes me forget how aggravating people can be. I think when this whole thing blows up, I shall refer to them as Larvae Labs since a beautiful butterfly emerging just isn't going to happen.
How do I make wagers against it happening? I will not wager for something terrible to happen to a community I love. I truly hope I am wrong about BFL. |
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And that's my issue. If they had a way of running a 1500 GH/s rig, then it would be portable down the product chain. This tells me that made very poor assumptions while engineering their ASICs. One that would have been quickly discredited after they had a working prototype. We are hearing about this now in March/April = they financed the developing using preorders. That my friends is a ponzi scheme
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Aantonop, I'm glad you are here. I'm going to be doing a series on entrepreneurship in the bitcoin community. Would you mind doing a guest lecture?
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Which is totally insane. What cooling system could possibility dissipate that kind of heat? Not in that space.
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I have contacted jon and asked him to be part of my course. If he agrees, Jon will have an opportunity to be one of the economic faces of the mainstream's introduction to bitcoin. Every subscriber makes the foundation less relevant. We are less than a week in and over 300 people. My goal is 10,000 by the end of the Summer and 100,000 by the end of the year. Until the foundation mentions and endorses my course, I will not mention them. Let's see who blinks first  |
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Let's see... 1500 Gigahashes divided by 350 megahashes... You need 4286 of my 5870 graphics cards, drawing 300 watts each? That's 1,285,800 watts, or... ahem... 1.21 Gigawatts if you round properly Thank you for introducing some much needed levity. |
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