Hehehe you guys know even if Bitcoin fails, this forum will become an extremely valuable source of eclectic rocket photos. And that's gotta be worth something!

That choice is only an illusion is only one of many philosophical points of view (Laplace's demon, Determinism).

Even if this world is a simulation, actors like us still may develop momenta unforeseen by the programmers.

You can also make a joint from a dollar bill. That is also a use other than as a currency. Does that make dollars a commodity?

Just because some people use it for barter doesn't mean it's a currency. Would you say sheep are currency just because people in Afghanistan use them for trade? At most it's a local currency because it lacks the typical "generally accepted" part of it's definition.


What about the use of Bitcoin as a novelty? When Bitcoin got started it had no other use but as novelty much like gold jewelry.


Completely irrelevant.

One correction the subsidy will go to zero.  Bitcoin has no concept of infinite fractions it rounds the subsidy down to the nearest satoshi. 1E-8 BTC.  Eventually the subsidy will be less than 0.00000001 when rounded down at which point the subsidy will be exactly 0 for all future blocks.

If miners confirm transactions, what will happen when there are none of them?

Not quite. Watch the video again. He chose his words very carefully.


Youre allowed to "hold" alternative currencies, but he didnt say you can issue, circulate, transmit, transact or trade in alternative currencies. Bernard Von Nothaus found out the hard way, when he issued Liberty Dollars, that the government has a very strong dislike of alternative currencies. He was charged with terrorism offences.

I know I shouldn't be talking about this, but the world has got to know! I heard Longistan has infiltrated the Vatican. They have a huge top secret mining farm there!

The US is sending reconnaissance drones, but they can't see anything because it's all in their top secret underground bunker. Oh, oh and they are even trying to change the climate with a top secret super weapon so that the world freezes to cool their GPUs.

Overall they try to enslave the mankind by hypnotizing them with GPU fans that turn them into mindless zombies working in their Bitcoin mines.

That is a bit of a stretch. Keynesian makes up a large minority viewpoint in academic macroeconomics. It is not dominant. It is only among government policymakers that Keynesian is the dominant viewpoint.

[Don't get me started on Austrian economics because that is complete wackjob rubbish that asshats believe in. I'm not responding to asshats here. It is not an enjoyable use of my time.]

It is not that Keynesian is necessarily wrong. In fact, I think it is correct, but exceptionally difficult to prove or disprove. From the empirical side, it is impossible to perform random experiments with national economies. From the axiomatic side, it is very difficult to derive a Keynesianism model based on seemingly sensible assumptions. The typical assumptions are that people are rational, have rational expectations about the future, and that prices adjust freely.

However, this is not surprising. The idea that people behave irrationally is at the core of Keynes' thought... "animal spirits" and such. If you allow people to deviate from rationality, then the axiomatic approach becomes pretty useless. People can deviate from rationality in many ways. Oftentimes there are multiple types of deviations which could generate similar macroeconomic data. That is multiple potential axioms could be broadly consistent with the same data. In this case, who is to say what the right way to set up axioms is? It becomes faith-based. This is like math, where people can disagree about whether parallel lines ever meet.


By the way, Francis Bacon and the scientific method is what I have in mind when I think of science.

The economics that I do is more in the way of applied statistics as the person above mentioned. It is not very scientific though it strives to be. The point is to tell a convincing story, where your audience believes you have thoroughly analyzed a situation and considered many possible explanations for it. There is no sense of certainty like you get in the natural sciences in which I did research prior to becoming an economist.

I suspect more of my vendors will be willing to accept payment in Bitcoins once they know that they can instantly cash out via Alipay.
Keep up the great work!

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