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on: February 02, 2014, 01:41:36 AM

Mandated by whom?

on: February 02, 2014, 01:34:18 AM

Quote from: zipmaster on January 30, 2014, 08:13:00 PM One key aspect worth noting is that, up until the advent of virtual currencies, one large edge of inflationary over deflationary policies is the fundamental limit to how small your currency can be functionally made for transfer. The indefinite divisibility of bitcoin completely bypasses this incentivizing increasing monetary velocity as a result. Good post. Most people who argue against Bitcoin miss this point.

on: January 27, 2014, 09:14:46 PM

Quote from: pening on January 27, 2014, 09:08:23 PM Quote from: ascalon on January 27, 2014, 08:28:30 PM Considering the main innovation within bitcoin is the fact that it solves the problem of how to get a decentralised network to agree on a certain thing, it's strange you would even ask this. I'd say its the "thing" and the agreement to that are the innovations. The blockchain is what solves the problem of consensus on decentralised networks. That's the innovation, everything else had already existed. So, what would be the point of having a blockchain on a centralised currency?

on: January 27, 2014, 08:28:30 PM

Quote from: pening on January 27, 2014, 08:23:16 PM Quote from: Dafar on January 27, 2014, 07:36:14 PM What's the point of a google coin? If it's centralized and controlled by them, that takes away a huge benefit of bitcoin so why would anyone switch over to google? So de-centralisation is the most important property of bitcoin? People will transfer to any cryptocoin that's more convenient, if that's Googlecoin, they will go there. de-centralisation is only an issue for certain political aims. Considering the main innovation within bitcoin is the fact that it solves the problem of how to get a decentralised network to agree on a certain thing, it's strange you would even ask this. What would be the difference between 'Googlecoin' and Visa?

on: January 27, 2014, 08:02:20 PM

People on this forum are far too concerned with perceptions.

on: January 16, 2014, 05:00:37 AM

Whether we all agree or disagree is irrelevant, he is his own man and he can do whatever he wants.

on: January 16, 2014, 03:22:02 AM

Quote from: benzone on January 15, 2014, 05:49:01 PM 1. Company X invents a new product, new sgement and all other prices of unrelated products will fall at once so X can make more money? Yea right, dream on. Most prices are rigid. 2. If you read anything in those 20 years, please post a link where we can find your fabricated definition of inflation. Wikipedia - no, Investopedia - no, any economics scholbook - no ... Hello, the answer to point 2 is contained within the answer for point 1 1. The economy is something of a feedback loop, so while you're correct that prices are sticky/rigid, this is a time-sensitive scenario. It takes time for actors to adjust to new realities, and some times, they refuse to do so - but that's their own problem. 2. Inflation is an increase in the money supply relative to the goods and services it is chasing; so, ceteris paribus, this would lead to an increase in prices. But like I said above, the economy is a bit of a feedback loop, and signals take, again, time to move into all sectors. And some sectors are more sensitive to inflation that others: the stock market is going up at unprecedented levels right now, the housing market is 'recovering' etc etc.

on: January 16, 2014, 02:58:31 AM

It is an economic question which can be answered simply: there is no such thing as intrinsic value. Although the Bitcoin protocol has properties built into that it has some practical utility, the value you see expressed in the price only comes from one source: the market.

on: January 15, 2014, 04:41:07 AM

You could make money from it if you're good at trading. Fundamentally, there's nothing particularly wrong with Dogecoin, but because it's not really going anywhere.

on: January 04, 2014, 08:50:39 PM

The problem isn't it being useless, it's that adding it on a protocol level would add complexity and would probably not be all that functional.

on: January 04, 2014, 08:38:15 PM

A crypto-currency that entrenches privacy protocols like Zero-coin and/or dark wallet would be great.

on: January 04, 2014, 08:22:14 PM

The only way someone can 'steal' your bitcoins is if they somehow gain access to your private key. You should encrypt your private key with another pass-code in order to increase your security. Online wallets notify you if someone has managed to access your account too.

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