Perhaps I missed it somewhere, but I don't recall it ever being a goal of Bitcoin to act as a stable long-term store of value.
- Jameson On 04/30/2014 01:06 PM, Troy Benjegerdes wrote: > On Wed, Apr 30, 2014 at 11:00:06PM +1000, Gareth Williams wrote: >> On 30/04/14 00:13, Mike Hearn wrote: >>> I do think we need to move beyond this idea of Bitcoin being some kind >>> of elegant embodiment of natural mathematical law. It just ain't so. >> >> I haven't seen anybody arguing that it is. >> >> Bitcoin is the elegant embodiment of /artificially contrived/ >> mathematical rules, which just so happen to be very useful in their >> current configuration :-P >> >> Nobody is saying those rules are immutable. Just that it isn't sensible >> to undermine them by introducing imprecise and unpredictable elements >> like human politics. > > As an end-user of Bitcoin, the whole possible value of a set of mathematical > rules has become completely trashed by the imprecise and unpredictable > behavior > of buyers and sellers. > > If the rules are not responsive to real human needs, bitcoin is worthless > as a long-term store of value because **my idea of value** changes over time. > This implies, in my mind, an absolutely requirement to attempt to gather > some useful signal from the human political noise. > > How do you determine what that signal is, so you can **change the rules** > and the mathematics so it makes more sense? > > You've got to deal with politics, one way or another. > > ------------------------------------------------------------------------------ "Accelerate Dev Cycles with Automated Cross-Browser Testing - For FREE Instantly run your Selenium tests across 300+ browser/OS combos. Get unparalleled scalability from the best Selenium testing platform available. Simple to use. Nothing to install. Get started now for free." http://p.sf.net/sfu/SauceLabs _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
