> On Oct 16, 2017, at 7:02 PM, \0xDynamite <[email protected]> wrote: > >> On 10/16/17, juan <[email protected]> wrote: >> On Mon, 16 Oct 2017 15:20:56 -0500 >> "\\0xDynamite" <[email protected]> wrote: >> >>> What bitcoin NEEDS TO DO is restrict itself to the Creative Economy >> >> why? and restricted by whom? > > Why? So it can understand itself? > By whom? By Mr. and Mrs. Better Reason. > >>> (limit itself for purchase and exchange of purely informatic goods, >>> like news, music, etc.) and THEN see how bitcoin translates into >>> physical "real-world" currency. That is, it makes no sense to compare >>> or exchange physical currency to bitcoin as bitcoin is not associated >>> with actual real-world value >> >> what's that supposed to mean? Although bitcoin is not commodity >> money and so it doesn't have any value apart from being an >> accounting mechanism, bitcoin's virtual' value can be associated >> with anything.... > > You don't understand. I see. > >>> (like oil, metals -- things that have >>> intrinsic value and hard to reproduce). >> >> ...still you can use bitcoin to pay for those, just like you >> can use the even more worthless govt money. It's not an ideal >> situation but it kinda works... > > To my knowledge, no one has given any gold or oil in exchange for a > made up currency like bitboin. Why?
Wrong. What the hell are you on about? Mining coins costs JUICE (electricity) - which comes out of burning carbon, or some other method which has to be paid for. This is one of the reasons desperate Venezuelans got big into mining - their collapsing government subsidizes the power bill, giving them a nice advantage when it comes to mining, and a way to put some food on the table. > Because it doesn't know how to > do what the US has done -- even if the US did it without understanding > it. (The US accidently made its dollar tied to a real value by > limited inflation. Their monitoring of inflation made it get tied > (without them probably even knowing it) to oil and perhaps ag > production)). This is what has made US currency the most valuable. > The US knew exactly what they were doing when they tied OPEC to the us dollar. >>> If bitcoin were to become THE only currency for informatic goods on >>> the internet, exchanged predominantly *virtually*, then it doesn't >>> matter the "exchange rate". because its value is entirely related to >>> how people value the informatic goods online. Perhaps someone will >>> give 1000 bitcoin for song A, > >> lol I thought we 'agreed' that there's no software theft cause >> there's no software property...so you don't need to pay shit >> for songs... > > That's right you don't NEED to. But what do you do when no one > produces any songs because they can't get enough money to produce > them? > >>> while another will give 1 bitcoin -- the >>> system will work to equalize and evaluate the virtual goods online. >>> >>> Here's how I solved this problem in the Pangaia system. Give 1 >>> bitcoin for each vote given online for whatever 3rd party (not >>> affiliated with bitcoin) website that allows you to express your >>> opinion. >>> >>> UNDERSTAND THIS: >>> >>> Expressing your opinion is the ultimate unit of work in the virtual >>> world. Distribute bitcoins on this basis. That devalues them, yes, >>> but then you don't have to expend 100kW of energy to produce them, >>> maybe call them nanobits. >>> >>> Then allow them to be traded freely as a neutral currency for the net. >>> After this gets established, ONLY THEN can you really set a EXCHANGE >>> RATE for bitcoin with physical dolllars -- because you've tied and >>> anchored it to REAL WORLD VALUES. >>> >>> That's the only way to make it work. >> >> it's not even clear what problem you think you are solving.... > > The problem is that Bitcoin is a solution in NEED of a problem. You get it? > > The problem is that: > * people want to trade stuff online, > * they also want better quality stuff availble online, > * also want avoid giving credit card data online > * some want to disassociate with US currency > > People with sound economic knowledge want these things also: > > * currency that is associated with actual value that is difficult to reproduce > * is easily passable > * makes producing social value more efficient. > > The suggestions given will accomplish that by tying bitcoins to the > unit value of virtual WORK (your opinion expressed by a vote). > > Marxos > > So how are you going to do that
