Bitcoin blackholes as a solution to unfettered inflation?

[the joint]

I think Bitcoin is exactly where it should be and needs to be.

Everything that has happened so far can be expected.

Scams, hacks, shady personalities, wildly fluctuating values...this is all normal behavior.  In fact, if Bitcoin were any less unstable I would begin to think something is wrong.

The Bitcoin phenomenon is systemic, and it is new and small.  Small systems are prone to enormous shifts in balance when there is a lot of input/output from and into larger systems outside Bitcoin-land.  It will take a long time for Bitcoin to find its niche among larger systems and to achieve balance between input and output.

Everything that is happening to Bitcoin is good and natural.  Relax; let it run its appropriate course.

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[wolftaur]

Oh, so he is under medication? Well, that explains this topic. You guys should be a little less harsh with him then.

Yeah, Atlas never seemed to mean any harm and he likes Bitcoins and that's really the point here, so I got no problem with him.

[Elwar]

I agree that this idea is not very wise.

Here is another unwise idea that would be slightly better.

Just have a few big money players put in ask walls at just below where it is now and periodically drop out and drop back in with an exact figure to demonstrate to the others that they are still holding.

People will come to realize that the wall is not falling and will bid/ask above the wall.

Then, as things pick up they can move the wall up a half dollar at a time. When the wall is hit and someone sells a lot then they just wait a bit until the price goes up a bit and sell what they bought earlier. With the knowledge that it will not go below that wall.

[JeffK]

The inflation will have to end sometime, I say let it happen on it's own for now



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~~~~~    ImMaNuEl Go FaN cLuB     ~~~~~

[Bebop]

I think Bitcoin is exactly where it should be and needs to be.

Everything that has happened so far can be expected.

Scams, hacks, shady personalities, wildly fluctuating values...this is all normal behavior.  In fact, if Bitcoin were any less unstable I would begin to think something is wrong.

The Bitcoin phenomenon is systemic, and it is new and small.  Small systems are prone to enormous shifts in balance when there is a lot of input/output from and into larger systems outside Bitcoin-land.  It will take a long time for Bitcoin to find its niche among larger systems and to achieve balance between input and output.

Everything that is happening to Bitcoin is good and natural.  Relax; let it run its appropriate course.

^ Best advice possible. Couldn't have been said any other way.

To add my own thought too -- with only 21 million BTC ever existing, we have to also consider that in the long term,  some BTC will be lost from accidentally deleted wallets etc, thus the black-hole will be a naturally occurring phenomenon. To speed up the process now, might have adverse consequences further forward in time.

[Anonymous]

I said the idea was crazy. Frankly, I throw blatantly moronic ideas at the wall sometimes in hopes that in nuance they will be brilliant. I have no remorse.