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Author Topic: Greed-proof?  (Read 1194 times)
spanish_guy
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May 31, 2011, 05:32:19 PM
 #1

Hi,

I'm new to the forum. I've got a couple of questions.

1.- Is Bitcoin greed-proof?
2.- If not, can a greedy user make other Bitcoin users poorer by just using Bitcoin in a perverse way? (just as it's happening with fiat money)

Thank you.

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darvil
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May 31, 2011, 05:38:24 PM
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Is there anything out there in the world that is greed poof?
spanish_guy
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May 31, 2011, 05:50:49 PM
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Well, Paul Grignon's system seems to prevent users from accumulating coins, as they 'decay' over time. So greedy users are forced to accumulate goods, but not money. I was wondering if Bitcoin supports this.



SgtSpike
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May 31, 2011, 05:54:05 PM
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1.  No.  Nothing is greed-proof.  Ever.
2.  Not really.  The best way I can think of is to manipulate the market by creating a bunch of variance and causing investor confidence to drop, and thus a drop in the price, but doing something like that could hardly be called profitable, as there would also be a good chance of the market manipulator losing a good deal of money trying to do that.

And in response to your 2nd post, the coins don't decay.  Why is having some savings a bad thing anyway?
spanish_guy
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May 31, 2011, 06:43:28 PM
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Savings are not bad at all. Moreover, Grignon's coins don't decay to zero, but to the perpetual coin value. So speculation is not so easy.

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May 31, 2011, 07:55:52 PM
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Savings are not bad at all. Moreover, Grignon's coins don't decay to zero, but to the perpetual coin value. So speculation is not so easy.
What's wrong with speculation?  Shouldn't people be able to choose when they want to buy/sell bitcoins?
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May 31, 2011, 08:25:52 PM
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Savings are not bad at all. Moreover, Grignon's coins don't decay to zero, but to the perpetual coin value. So speculation is not so easy.

lol inflation.

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May 31, 2011, 08:40:34 PM
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Is there anything out there in the world that is greed poof?

haemorrhoids
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