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Author Topic: [Sci-fy topic] Searching bitcoin's intrinsic value...  (Read 2887 times)
paraipan
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November 02, 2011, 03:40:30 PM
 #41

oops i managed to derail the topic... sorry ppl, i was too tempted  Roll Eyes

@DeathAndTaxes, maybe you're right or wrong, the correct answer lies within your words. I give can give you some hints if you like...
energy is lost or stored just like you say, efficiently or not based on the existent friction in a device, but for that to happen you have to get it from somewhere first. A good example is a squeaky swing loosing the energy through heat at it's hinges. What do you do ? "Instinctively" you put some grease at it and increase efficiency. After that you have to push little less and have it go higher and get rid of the annoying squeaking too. Friction is a natural effect of collisions between particles that have mass, and not only.
I would love to talk more on the subject but not in this thread though. Feel free to open another one and i will chime in Wink

Back on topic:

Apart from us giving value to bitcoin by trading it, is true that "non-replication" could be it's base intrinsic value ?

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
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DeathAndTaxes
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November 02, 2011, 04:03:23 PM
 #42

Apart from us giving value to bitcoin by trading it, is true that "non-replication" could be it's base intrinsic value ?

In a post nanotechnology world it would be.  No physical money could avoid counterfitting.  When you can analyze and assemble things at the atomic level couterfits would be absolutely identical to the original.  No existing physical currency could survive that.

That leaves 2 options for currency
1) Rare elements.  Using gold as a currency would still be valid as nanotechnology wouldn't allow you to make gold from non-gold.  There are other elements which have higher value than gold on a per ounce basis that would be useful as a currency.  It would also be possible to make currency from artificial isotopes to retain tighter control over money supply however I think that is dubious given the complexities.

2) Digital funds.  Bitcoin would have many advantages over centralized purely digital currencies because of its open, transparent, and decentralized nature.  A digital federal reserve with "digital cash" could work.  Hell it could work today however it would have all the disadvantages of centralized opaque control. 
paraipan
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November 02, 2011, 04:15:46 PM
 #43

@DeathAndTaxes spot on man, how much bitcoins for that gold pressed latinum bar you're holding ? Smiley

edit; well written article over bitcoin in a post scarcity world, i think we're starting to see glimpse of the future here ppl

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
sadpandatech
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November 03, 2011, 01:53:35 AM
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@DeathAndTaxes spot on man, how much bitcoins for that gold pressed latinum bar you're holding ? Smiley

edit; well written article over bitcoin in a post scarcity world, i think we're starting to see glimpse of the future here ppl

  Very nice article. And, who is this James Stephenson? I wonder if he is here on the forums and could chime in?

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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