Bitcoin Forum
December 06, 2016, 08:17:06 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3]  All
  Print  
Author Topic: What happens if someone starts another blockchain or cryptocurrency?  (Read 15351 times)
lonelyminer (Peter Šurda)
Donator
Hero Member
*
Offline Offline

Activity: 544


View Profile
March 30, 2012, 09:45:33 PM
 #41

They call things they don't like central planning. Whether whatever they are criticizing bears any relationship to central planning or not is not relevant. They don't like it and don't know exactly why. So it suffices to label it central planning.
You said:
Quote
IMO, cleverest way of handling initial distribution is to force miners to give away money to merchants who agree to accept the currency.
and
Quote
People don't volunteer to give away significant amounts. You need to compel them.
(emphasis added)
I fail to see why you object to this being called central planning.

They post self-contradictory statements such as the following:
You are in error, you made up the contradiction because you project your own frameworks onto others. You can't abandon your implicit assumptions.

Note that R&D, business strategy, and marketing would require some sort of centralized planning. There is a manager of a firm. She is the central authority.
Central planning does not mean any delegation of planning or the existence of hierarchical elements in planning, but that force is used to suppress markets.

(Use of female pronoun intended to piss off libertarian fundamentalist nutjob. Ignore button now in use.)
I prefer a point by point refutation myself and let my opponent discredit themselves by demonstrating rejection of logic.
1481012226
Hero Member
*
Offline Offline

Posts: 1481012226

View Profile Personal Message (Offline)

Ignore
1481012226
Reply with quote  #2

1481012226
Report to moderator
1481012226
Hero Member
*
Offline Offline

Posts: 1481012226

View Profile Personal Message (Offline)

Ignore
1481012226
Reply with quote  #2

1481012226
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481012226
Hero Member
*
Offline Offline

Posts: 1481012226

View Profile Personal Message (Offline)

Ignore
1481012226
Reply with quote  #2

1481012226
Report to moderator
1481012226
Hero Member
*
Offline Offline

Posts: 1481012226

View Profile Personal Message (Offline)

Ignore
1481012226
Reply with quote  #2

1481012226
Report to moderator
1481012226
Hero Member
*
Offline Offline

Posts: 1481012226

View Profile Personal Message (Offline)

Ignore
1481012226
Reply with quote  #2

1481012226
Report to moderator
BrightAnarchist
Donator
Legendary
*
Offline Offline

Activity: 853



View Profile
March 30, 2012, 09:49:49 PM
 #42

It would have to be way better and it would have to be so different that Bitcoin could not be re-architected into it.

But I fail to see how BTC could not be easily modified to adapt to any new cryptocurrency technology.

Regardless, if it did happen, it would have to be VASTLY superior to overcome the network effect that BTC has. Think mp3 vs ogg for example - ogg is better, but mp3 is already everywhere, so the cost of transition is not worth the marginal benefit.
cunicula
Hero Member
*****
Offline Offline

Activity: 756


Stack-overflow Guru


View Profile WWW
March 31, 2012, 01:54:00 AM
 #43

Gresham's law refers to government enforced exchange rates and does not apply. This is about deflationary expectations on a free floating market.


Good job. This quote from wikipedia is helpful at stating Gresham's Law accurately and in simple terms.

The Nobel prize-winner Robert Mundell believes that Gresham's Law could be more accurately rendered, taking care of the reverse, if it were expressed as, "Bad money drives out good if they exchange for the same price."[13]

Neither the US dollar nor bitcoin operates under a fixed exchange rate, so of course Gresham's law is not applicable.


▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁
        AltCoinInternalExperts                Get Your Altcoin Promoted On Social Media       
▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔
kjj
Legendary
*
Offline Offline

Activity: 1302



View Profile
March 31, 2012, 05:51:15 AM
 #44

Gresham's law refers to government enforced exchange rates and does not apply. This is about deflationary expectations on a free floating market.


Good job. This quote from wikipedia is helpful at stating Gresham's Law accurately and in simple terms.

The Nobel prize-winner Robert Mundell believes that Gresham's Law could be more accurately rendered, taking care of the reverse, if it were expressed as, "Bad money drives out good if they exchange for the same price."[13]

Neither the US dollar nor bitcoin operates under a fixed exchange rate, so of course Gresham's law is not applicable.

The law works in other circumstances too.

For example, I have next to me a $5 coin and a $5 bill.  Both are real, official, legal "money" of recent issue, blessed by the U.S. Government and either one could be traded for stamps at the post office or used to pay my taxes.  One is paper, and the other is gold.  In this country, the bad money drove out the good money, a process that started about 100 years ago, and was more or less completed by 1965.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
I routinely ignore posters with paid advertising in their sigs.  You should too.
cunicula
Hero Member
*****
Offline Offline

Activity: 756


Stack-overflow Guru


View Profile WWW
March 31, 2012, 05:56:03 AM
 #45

Gresham's law refers to government enforced exchange rates and does not apply. This is about deflationary expectations on a free floating market.


"Bad money drives out good if they exchange for the same price."[13]

The law works in other circumstances too.

For example, I have next to me a $5 coin and a $5 bill.  Both are real, official, legal "money" of recent issue, blessed by the U.S. Government and either one could be traded for stamps at the post office or used to pay my taxes.  One is paper, and the other is gold.  In this country, the bad money drove out the good money, a process that started about 100 years ago, and was more or less completed by 1965.

Sorry, you fail your test. If you whine and suck up to me, I may consider partial credit.

Same circumstance. Fixed Exchange Rate. Exchange rate between $5 coin and $5 bill is fixed by law.

▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁
        AltCoinInternalExperts                Get Your Altcoin Promoted On Social Media       
▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔
Boussac
Legendary
*
Offline Offline

Activity: 1173


e-ducat.fr


View Profile WWW
March 31, 2012, 09:00:30 AM
 #46


Even disregarding the 'who', why would someone stake anything in the second copy of the same thing? Obviously a third is coming along to screw you.
This is very true for the "store of value" function. For the "medium of exchange" function, the network effect is a strong driver and will add to the "first mover advantage" of bitcoin.

kjj
Legendary
*
Offline Offline

Activity: 1302



View Profile
March 31, 2012, 12:47:43 PM
 #47

Gresham's law refers to government enforced exchange rates and does not apply. This is about deflationary expectations on a free floating market.


"Bad money drives out good if they exchange for the same price."[13]

The law works in other circumstances too.

For example, I have next to me a $5 coin and a $5 bill.  Both are real, official, legal "money" of recent issue, blessed by the U.S. Government and either one could be traded for stamps at the post office or used to pay my taxes.  One is paper, and the other is gold.  In this country, the bad money drove out the good money, a process that started about 100 years ago, and was more or less completed by 1965.

Sorry, you fail your test. If you whine and suck up to me, I may consider partial credit.

Same circumstance. Fixed Exchange Rate. Exchange rate between $5 coin and $5 bill is fixed by law.

If the exchange rate was fixed by law, I'd have hundreds of those gold coins.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
I routinely ignore posters with paid advertising in their sigs.  You should too.
cunicula
Hero Member
*****
Offline Offline

Activity: 756


Stack-overflow Guru


View Profile WWW
March 31, 2012, 12:54:40 PM
 #48

Gresham's law refers to government enforced exchange rates and does not apply. This is about deflationary expectations on a free floating market.


"Bad money drives out good if they exchange for the same price."[13]

The law works in other circumstances too.

For example, I have next to me a $5 coin and a $5 bill.  Both are real, official, legal "money" of recent issue, blessed by the U.S. Government and either one could be traded for stamps at the post office or used to pay my taxes.  One is paper, and the other is gold.  In this country, the bad money drove out the good money, a process that started about 100 years ago, and was more or less completed by 1965.

Sorry, you fail your test. If you whine and suck up to me, I may consider partial credit.

Same circumstance. Fixed Exchange Rate. Exchange rate between $5 coin and $5 bill is fixed by law.

If the exchange rate was fixed by law, I'd have hundreds of those gold coins.

Ignore button. As I apply this more and more, the forum improves!

▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁
        AltCoinInternalExperts                Get Your Altcoin Promoted On Social Media       
▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔
rjk
Sr. Member
****
Offline Offline

Activity: 420


1ngldh


View Profile
March 31, 2012, 01:38:45 PM
 #49

Ignore button. As I apply this more and more, the forum improves!
Wow it sure does! Now I can ignore all your bullshit about turning Bitcoin into Shitcoin, and the forum is now a marginally quieter place.


Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
Pages: « 1 2 [3]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!