If this thing does keep dropping is there not a very big danger of massive hoarding and 51% attacks?

dude if you get them at $1 it'll take like 100 times longer for bitcoin to recover, not good.

You're talking theory.

But the comparison to the dollar is the real world, since we will continue to pay our mortgages and buy gas for our cars and food for our table with dollars for the foreseeable future.  So the comparison with the dollar is a necessity.

Well here we have : misaligned incentives, negative externalities that cause negative retro actions. Can't the common cause of all this be called greediness ?

Seeking for a dynamic equilibrium with nature is definitely a good path to follow. Since from nature itself we can actually see that there are no misaligned incentives, no negative externalities and , therefore no greediness. Nature appears to evolve by itself in a way that the whole ecosystem is always in a state of development ( evolution ) rather than declining.

Economic activities are not a natural process. But, by all means, are perpetuated by Humans since " Illo Tempore ".

Humans are surely part of the natural ecosystem of this planet. And surely denote a much higher degree of awareness as compared to any other natural kingdom. Also they denote a freewill that allows them, for example, to elaborate economic activities able to "alter" the whole ecosystem.

In seeking for this "miraculous" to happen, that we can all live a sustainable life by better rationing all available resources and bla bla bla, we should not forget, in my opinion, that this freewill, is applicable also to the individuals. Therefore making each of us capable of taking different decisions.

The main problem than, melts down to a matter of awareness : if you are not aware that you are doing something wrong, how can you possibly decide to do it in a different way ?

The above is my attempt to give a sort of "scientific" explanation. But I would have preferred a more philosophical one 

Open for discussion, if anybody wishes.

Thanks.

I can't find a paper from the fed where they say literally that they issue dollars simply by buying things.
But I found this:

http://www.frbsf.org/education/activities/drecon/2002/0209.html
http://en.wikipedia.org/wiki/Securities

It seems like you were right when you said they can't buy whatever they want, but they definitely can buy things different from US bonds.
Gold certificates or SDRs, for example, don't sound much like debt.

Not always. The fed issues dollars simply by buying things. If what they buy is, for example, US bonds or a debt (at interest) from a bank, then you're reasoning can be applied. But they can buy stocks, ETFs, gold, bitcoins or just tons of shit if they want.
Not that I like the Fed, but that's how it works.

Because he believes that dollars are debt.

Is any of the RBE crowd interrested in answering my concerns about the function of pricing mechanism or do you folks want to sling accusations of irrationality around all week?

At least you've admitted that your goal is not to have a productive or intellectually honest discussion or argument, but to cease any talk about these ideas at all. For someone so insistent that other people be productive, that seems futile and unproductive to me. Thank you for being honest about your goal though.

 "Aristocracy is a form of government in which the best qualified citizens rule". So I still see no difference in essence between what you advocate and what The Venus Project advocates.

Today's education system and society at large is no measure of a relevant education. Our values are distorted, causing aberrant behavior that has negative consequences. With a relevant education, people would understand that a population cannot grow beyond the resources of a finite system such as our planet.

At least you've admitted that your goal is not to have a productive or intellectually honest discussion or argument, but to cease any talk about these ideas at all. For someone so insistent that other people be productive, that seems futile and unproductive to me. Thank you for being honest about your goal though.

You misinterpreted. It is a simple recognition of the fact that as education rises, the natural consequence is decline in population, we see that in every civilised country. It is by no means a value imposed, nor would anyone be compelled not to have children (as it happens in totalitarian regimes like China).

What Joseph referred to was his own view of life, he said that, for him, it would be irresponsible to bring a child on this planet without thinking of the consequences, he didn't say people shouldn't have children.

You people don't understand the scientific method. You don't have a clue on how it works on social sciences. You also don't understand the actual economic system and you're lied (on every fuckin' Zeitgeist movie) about how it works for the sect to guide you to their misguided conclusions.

You can't use the scientific method if you don't know how to use it. You can't change economy if you don't know how it works.

You people are fools. They fooled you because you didn't read enough books and you didn't think by yourselves. You are so confident just because the group (the cult/sect actually) reinforces your vision.

Yes, the world is fucked up. It always has been.  But it's not fucked up in the way you believe, because you don't understand nor the actual economic system nor the scientific method.

Some of you are, but the recent comments just prove that many are still caught in the net of their own projections.


It just proves that you can't argue. It proves that you can only shout at people, hoping they will get mad at you.