Why are economists so afraid of Bitcoin?

[loopgate88]

So let me try and understand this. He's wrong because he wants to change bitcoin. Yet your not wrong because you want to change the current financial system. How is there a difference? Your doing the same thing you claim he is doing.

And it doesn't sound like he's shoving anything down your throat, it looks more like he's being reasonable and intelligent and willing to discuss the topic like an adult, and it sounds more like you are trying to push some agenda you have

No, he's not trying to change the existing financial system at all ... we are trying to replace it entirely and give people an option to OPT OUT.

Something I notice no economists are offering or advocating for at present ... rather they spend a great deal of time trying to figure out how to keep everybody corralled into their sick facist financial system of control and monitoring, cash controls, border checks, sniffer dogs, criminalising cash ... the list is endless with examples of the restrictions of financial freedom to serve their fiat masters and their wrong, failed, sick economic theories.

Opt out in the future. Maybe.

[Lloydie]

So let me try and understand this. He's wrong because he wants to change bitcoin. Yet your not wrong because you want to change the current financial system. How is there a difference? Your doing the same thing you claim he is doing.

And it doesn't sound like he's shoving anything down your throat, it looks more like he's being reasonable and intelligent and willing to discuss the topic like an adult, and it sounds more like you are trying to push some agenda you have

No, he's not trying to change the existing financial system at all ... we are trying to replace it entirely and give people an option to OPT OUT.

Something I notice no economists are offering or advocating for at present ... rather they spend a great deal of time trying to figure out how to keep everybody corralled into their sick facist financial system of control and monitoring, cash controls, border checks, sniffer dogs, criminalising cash ... the list is endless with examples of the restrictions of financial freedom to serve their fiat masters and their wrong, failed, sick economic theories.

Opt out in the future. Maybe.

No. We can opt out now. If you have little faith in bitcoin, then opt out 1% of your wealth. If you have great faith in bitcoin, opt out 99% of your wealth.

We can decide anytime to opt out as much as we like. We can also opt out to other coins.

[Kungfucheez]

OPT out of what exactly? Life? If you think btc is going to magically change society for the better you have a serious problem.  The list is endless on the number of people who benefit from a fiat system as well. You sound more like a retarded tin-foil hat nut-job then a rational human.

OPT OUT of fiat (not sure how you missed that glaring detail). Bitcoin is changing societies immensely already, people (even braindead economists) are thinking and talking about the central banksters fiat monetary RORT, it has already won regardless of what happens next.

Ad Hominem = Fail


... got any other pearls of wisdom or are we done here?

We'll I'm certainly done. Ignored.

[Lloydie]

OPT out of what exactly? Life? If you think btc is going to magically change society for the better you have a serious problem.  The list is endless on the number of people who benefit from a fiat system as well. You sound more like a retarded tin-foil hat nut-job then a rational human.

OPT OUT of fiat (not sure how you missed that glaring detail). Bitcoin is changing societies immensely already, people (even braindead economists) are thinking and talking about the central banksters fiat monetary RORT, it has already won regardless of what happens next.

Ad Hominem = Fail


... got any other pearls of wisdom or are we done here?

We'll I'm certainly done. Ignored.

Kungfucheez doesn't even like bitcoin. Perhaps people should ignore him instead. And Thaaanos also, a central bank clerk, masquerading as a grade school teacher.

[loopgate88]

So let me try and understand this. He's wrong because he wants to change bitcoin. Yet your not wrong because you want to change the current financial system. How is there a difference? Your doing the same thing you claim he is doing.

And it doesn't sound like he's shoving anything down your throat, it looks more like he's being reasonable and intelligent and willing to discuss the topic like an adult, and it sounds more like you are trying to push some agenda you have

No, he's not trying to change the existing financial system at all ... we are trying to replace it entirely and give people an option to OPT OUT.

Something I notice no economists are offering or advocating for at present ... rather they spend a great deal of time trying to figure out how to keep everybody corralled into their sick facist financial system of control and monitoring, cash controls, border checks, sniffer dogs, criminalising cash ... the list is endless with examples of the restrictions of financial freedom to serve their fiat masters and their wrong, failed, sick economic theories.

Opt out in the future. Maybe.

No. We can opt out now. If you have little faith in bitcoin, then opt out 1% of your wealth. If you have great faith in bitcoin, opt out 99% of your wealth.

We can decide anytime to opt out as much as we like. We can also opt out to other coins.

That would be like buying an extremely unreliable Tesla S believing that equals opting out of using gasoline. The Tesla S is incredibly well built yet how many people do you see opting out of using gasoline by buying one? Now imagine if the Tesla S was a lemon... Not saying bitcoin is a lemon, just that bitcoin's value reliability is very minimal. For now.

[loopgate88]

OPT out of what exactly? Life? If you think btc is going to magically change society for the better you have a serious problem.  The list is endless on the number of people who benefit from a fiat system as well. You sound more like a retarded tin-foil hat nut-job then a rational human.

OPT OUT of fiat (not sure how you missed that glaring detail). Bitcoin is changing societies immensely already, people (even braindead economists) are thinking and talking about the central banksters fiat monetary RORT, it has already won regardless of what happens next.

Ad Hominem = Fail


... got any other pearls of wisdom or are we done here?

We'll I'm certainly done. Ignored.

Something happened here but I advise keeping your mind open when it comes to Marcus. He is very wise.

[Kungfucheez]

OPT out of what exactly? Life? If you think btc is going to magically change society for the better you have a serious problem.  The list is endless on the number of people who benefit from a fiat system as well. You sound more like a retarded tin-foil hat nut-job then a rational human.

OPT OUT of fiat (not sure how you missed that glaring detail). Bitcoin is changing societies immensely already, people (even braindead economists) are thinking and talking about the central banksters fiat monetary RORT, it has already won regardless of what happens next.

Ad Hominem = Fail


... got any other pearls of wisdom or are we done here?

We'll I'm certainly done. Ignored.

Something happened here but I advise keeping your mind open when it comes to Marcus. He is very wise.

Maybe, but that's not the impression I get.

[Lloydie]

No. We can opt out now. If you have little faith in bitcoin, then opt out 1% of your wealth. If you have great faith in bitcoin, opt out 99% of your wealth.

We can decide anytime to opt out as much as we like. We can also opt out to other coins.

That would be like buying an extremely unreliable Tesla S believing that equals opting out of using gasoline. The Tesla S is incredibly well built yet how many people do you see opting out of using gasoline by buying one? Now imagine if the Tesla S was a lemon... Not saying bitcoin is a lemon, just that bitcoin's value reliability is very minimal. For now.

For those that can afford it why not? I would love to own a tesla, especially one that has a five year track record, appreciates in value and has a user base growing at a rate of 30% per month.

Plus the great thing is; unlike a tesla, bitcoins are not an all or nothing proposition. You can allocate as little as 1% of your wealth to it.

I find bitcoin's value plenty reliable, after all it appreciated 60 times in 2013. As far as I can see, it's regulation from central banks that are the primary obstacles. The rest of bitcoin looks perfectly reliable to me.

Even with the issue of regulation: how does one legally ban an entire asset class? I don't know of any such precedents. It would be an unprecedented, unilateral action to ban something that people want to use. Politically, I'm not sure how that is going to fly.

OTOH, they might try to tax it to death. In which case we will probably see the migration of bitcoin to non capital gains taxed jurisdictions that has no GST or value added taxes.

Either way, I see a minimum penetration of >1% of the human population, which is about a 70 times increase from the current user base.

[loopgate88]

It's not a matter of affordability, it's a matter of projected ROI.
When do you think it will cover >1% of the human population? Also, what if it doesn't?

[Lloydie]

It's not a matter of affordability, it's a matter of projected ROI.
When do you think it will cover >1% of the human population? Also, what if it doesn't?

Hard to say when 1% is reached. Current user base of approx. 1 million is increasing by 30% per month. You can extrapolate from there.

If it doesn't get there, I expect to see one of two things: a crypto that is better than bitcoin, in a very fundamental way. Something like totally anonymous transactions or something else very special that we need in a digital currency.

A full worldwide governmental ban is in place. In effect, prohibition, in which case the adoption rate might slow. But for prohibition to even work, usage must already exceed 1% of population right? Otherwise, you'd just be drawing attention to it unnecessarily. 

OTOH, the governments might run some kind of scare campaign saying how crazy volatile bitcoins are, how it is used for drugs, how it could corrupt your children, how deflation is bad, or that it is used to fund terrorism. This kind of campaign might go on for awhile. They might even try to associate bitcoins with some kind of bombing to try and have it banned.

So, 1% adoption rate looks, overall, quite certain to me. We just don't know when and whether it will happen as a banned currency or a widely used open system.

[htspringer]

So let me try and understand this. He's wrong because he wants to change bitcoin. Yet your not wrong because you want to change the current financial system. How is there a difference? Your doing the same thing you claim he is doing.

And it doesn't sound like he's shoving anything down your throat, it looks more like he's being reasonable and intelligent and willing to discuss the topic like an adult, and it sounds more like you are trying to push some agenda you have

No, he's not trying to change the existing financial system at all ... we are trying to replace it entirely and give people an option to OPT OUT.

Something I notice no economists are offering or advocating for at present ... rather they spend a great deal of time trying to figure out how to keep everybody corralled into their sick facist financial system of control and monitoring, cash controls, border checks, sniffer dogs, criminalising cash ... the list is endless with examples of the restrictions of financial freedom to serve their fiat masters and their wrong, failed, sick economic theories.

Opt out in the future. Maybe.

No. We can opt out now. If you have little faith in bitcoin, then opt out 1% of your wealth. If you have great faith in bitcoin, opt out 99% of your wealth.

We can decide anytime to opt out as much as we like. We can also opt out to other coins.

Bitcoin will keep going up for several reasons.
The gross corruption of governments and banks will assure its permeation into every corner of the globe.

[marcus_of_augustus]

OPT out of what exactly? Life? If you think btc is going to magically change society for the better you have a serious problem.  The list is endless on the number of people who benefit from a fiat system as well. You sound more like a retarded tin-foil hat nut-job then a rational human.

OPT OUT of fiat (not sure how you missed that glaring detail). Bitcoin is changing societies immensely already, people (even braindead economists) are thinking and talking about the central banksters fiat monetary RORT, it has already won regardless of what happens next.

Ad Hominem = Fail


... got any other pearls of wisdom or are we done here?

We'll I'm certainly done. Ignored.

Something happened here but I advise keeping your mind open when it comes to Marcus. He is very wise.

Maybe, but that's not the impression I get.

Maybe you are impressionable ... sometimes I mix and mingle with the smell of the sheople, to get a grasp for what's happening on the ground.

[Hunterbunter]

Bitcoin as a decentralised automated monetary system also obviates the need for economists and central banksters.

and workforce

Economists and banksters can go get real jobs.

Like being bitcoin miners...

[thaaanos]

Once [an] innovation has been introduced, people usually become more dependent on it, unless it is replaced by some still more advanced innovation. Not only do people become dependent as individuals on a new item of technology, but even more, the system as a whole becomes dependent on it. When a new item…is introduced as an option that an individual can accept or not as he chooses, it does not necessarily REMAIN optional. In many cases the new technology changes society in such a way that people eventually find themselves FORCED to use it.

[Mobile] phones have changed the way that people make plans. It used to be…“I’ll meet you on the street corner at this time and we’ll go somewhere.” And now, people say “I’ll call you when I’m getting off work.” So if you don’t have that piece of technology, you can’t participate in the way the society is communicating or coordinating. And so what actually ends up happening is now if I decide that I don’t want to participate in this codified communications channel, I’m victim to the ‘No Network Effect’, because I’m trying to be a part of a network that has been destroyed, that no longer exists.

So yes, I made a choice to have a cell phone. But what kind of choice did I make? And I think that this is the way that things tend to go now. What ends up happening is the choices start out very simple. Do I have a piece of consumer electronics in my pocket or not? And over time, the scope of that choice slowly expands until it becomes a choice to participate in society or not.

[Lloydie]

Ha we'll see who gets to laugh last.
No just a grade school teacher lol.
I will and when I come, I will have Central Banks to back me! yeah!
and Im gone make your bitcoins worth shit so Hodl.