Bitcoin is UNIQUE

[edd]

I've been sitting on this for a while because I haven't wanted to get caught up in any of the currency versus commodity debates going on but I can hold my metaphorical tongue no longer.

Bitcoin shares many of the traits displayed by money, currencies, commodities, stock, credits, and other exchangeable items that economic infrastructures are built around, however, it transcends them.

The synergy Satoshi created by utilizing a hash based proof-of-work system verified by a peer-to-peer network is not adequately described by any of the previous terms in their current incarnations. Consequently, new rules, laws, business etiquette, security measures, etc. will all have to be built from the ground up, free from the old, cumbersome restrictions and antiquated mentalities lingering in this brave, new world.

This manifestation of an intangible, archtypal ideal is giving us glimpses through doors that even the least cynical of us have always believed to be locked. Even if Bitcoin does die, it has opened my eyes to wondrous possibilities that will live at least as long as I do.

And that, my friends, is how Bitcoin won my admiration and continues to enthrall me to this day.

[1714018739]

1714018739

[FreeMoney]

Spot on.

[cbeast]

Trying to define bitcoin in fiat economic terms is like trying to fit a tesseract in round hole.

[evoorhees]

Well said OP. 

Tonight I had dinner with my father, and explained the coin to him. He lit up immediately, and was blown away by the ramifications racing through his mind. "It will revolutionize my whole industry," he said... and I responded, "and every other." As he left for the evening he mentioned he probably won't be able to sleep tonight.

Why is it that some of us see this thing as a true - to use OP's word - transcendence, while others see it as an impossible and laughable scam with no value?  It's as if we've stumbled upon the first printing press sitting alone in a meadow, and as we marvel at the possibilities of such an apparatus we're incessantly distracted by other onlookers who, noting that nobody uses such a thing, endeavor to condemn and deride our exuberance.

I think some of us will be looking back quite fondly on the work we're doing right now.

[Portnoy]

Hear hear edd.

[FreeMoney]

Well said OP. 

Tonight I had dinner with my father, and explained the coin to him. He lit up immediately, and was blown away by the ramifications racing through his mind. "It will revolutionize my whole industry," he said... and I responded, "and every other." As he left for the evening he mentioned he probably won't be able to sleep tonight.

Why is it that some of us see this thing as a true - to use OP's word - transcendence, while others see it as an impossible and laughable scam with no value?  It's as if we've stumbled upon the first printing press sitting alone in a meadow, and as we marvel at the possibilities of such an apparatus we're incessantly distracted by other onlookers who, noting that nobody uses such a thing, endeavor to condemn and deride our exuberance.

I think some of us will be looking back quite fondly on the work we're doing right now.

+1

and could you imagine sitting around badmouthing the printing press? I really don't understand the hate.

[jjiimm_64]

Well said...  now I feel somewhat 'less than'  for just mining them

[Portnoy]

Why is it that some of us see this thing as a true - to use OP's word - transcendence, while others see it as an impossible and laughable scam with no value?  It's as if we've stumbled upon the first printing press sitting alone in a meadow, and as we marvel at the possibilities of such an apparatus we're incessantly distracted by other onlookers who, noting that nobody uses such a thing, endeavor to condemn and deride our exuberance.

I think some of us will be looking back quite fondly on the work we're doing right now.

A fun look back...

http://technologizer.com/2009/11/23/windows-laptops-theyll-never-catch-on

[Phinnaeus Gage]

Why is it that some of us see this thing as a true - to use OP's word - transcendence, while others see it as an impossible and laughable scam with no value?  It's as if we've stumbled upon the first printing press sitting alone in a meadow, and as we marvel at the possibilities of such an apparatus we're incessantly distracted by other onlookers who, noting that nobody uses such a thing, endeavor to condemn and deride our exuberance.

I think some of us will be looking back quite fondly on the work we're doing right now.

A fun look back...

http://technologizer.com/2009/11/23/windows-laptops-theyll-never-catch-on

From the article and would make a great signature line for somebody here:

It’s always a mistake to think you know where the hell technology is going to take us.

Trying to define bitcoin in fiat economic terms is like trying to fit a tesseract in round hole.

After reading your post, I had to double check to see if I was mistaken, and psy was the author.




Excellent post, edd!

[Vladimir]

yep

[Xenland]

 ???sounds like you been smoking some of your teas?


All jokes aside I couldn't agree with you any more.

Bitcoin is Bitcoin...... plain and simple.

[Tuxavant]

Refreshing to see a post like this (and lack of trolls).

[Xenland]

Refreshing to see a post like this (and lack of trolls).

The trick is to feed the trolls in the "off-topic" section by posting troll like stuff. But now that I posted you the secret to keep'em away the trolls will be all over this thread(its what they do)

but wait a minute what if because they know I'm trying to do reverse psychology that they will just not post to make me look like I don't know what I'm talking about because if they came in an trolled then I'd be right, but if they now don't come in a troll I will be wrong and thus its more humorously-profitable to not troll and watch everyone troll me(whom are not usualy trolls).

[Xenland]

See what I just did there?

I quadrupald-trolled myself.... Keeps the trolls away...
Don't tell nobody....

[Gabi]

Nice thread!

[terrytibbs]

Yes! Yes!

[cbeast]

Refreshing to see a post like this (and lack of trolls).

The trick is to feed the trolls in the "off-topic" section by posting troll like stuff. But now that I posted you the secret to keep'em away the trolls will be all over this thread(its what they do)

but wait a minute what if because they know I'm trying to do reverse psychology that they will just not post to make me look like I don't know what I'm talking about because if they came in an trolled then I'd be right, but if they now don't come in a troll I will be wrong and thus its more humorously-profitable to not troll and watch everyone troll me(whom are not usualy trolls).

After reading this post I lost consciousness. I woke up face down on the beach with an empty bottle of rhy, one missing shoe, and a swollen big toe.

[beckspace]

The synergy Satoshi created by utilizing a hash based proof-of-work system verified by a peer-to-peer network is not adequately described by any of the previous terms in their current incarnations. Consequently, new rules, laws, business etiquette, security measures, etc. will all have to be built from the ground up, free from the old, cumbersome restrictions and antiquated mentalities lingering in this brave, new world.

Perhaps we could list some of the new rules, laws, business etiquette, security measures, etc. which have already been developed, and what we still need to develop?

New rules:

- Open source coding is the way to go;

- Public auditing (voting systems, government spending);


Business etiquette:

- Nick Szabo's essays are a good glimpse of the future;

- Smart property is amazing too, and it is already feasible;


Security measures:

- Ultimate deterrent protection from extorsion;

- Anonymously paid vigilantes may bring peace to levels never seen before;


Laws:

- Like Gavin said: "I don't think that we will see justice and laws coded within my lifetime." Those who study to be a Judge knows that the field is massive. Once the laws are coded, we have an open-source justice system, both frightening and desirable.

This manifestation of an intangible, archtypal ideal is giving us glimpses through doors that even the least cynical of us have always believed to be locked. Even if Bitcoin does die, it has opened my eyes to wondrous possibilities that will live at least as long as I do.

This. ^

[astana]

Security measures:

- Ultimate deterrent protection from extorsion;

- Anonymously paid vigilantes may bring peace to levels never seen before;

#1 I'm not so sure about that, very few people could sustain a high level of physical  torture for long without breaking. If someone wanted to get your encrypted pass of you they probably could. Remember Rambo was just a movie

2# This is evolution at work, I think it's the reaction to all the rippers/thewifs/scammers/rip off's/hackers that f*c k over good people, I have a friend who wants to start offering services like that i'll try and get him here.

[mcdett]

Reading this forced me to login again.