On Mon, May 5, 2014 at 10:37 AM, Quentin Anciaux <[email protected]> wrote:
> > > > 2014-05-05 10:30 GMT+02:00 Telmo Menezes <[email protected]>: > > >> >> >> On Mon, May 5, 2014 at 4:48 AM, LizR <[email protected]> wrote: >> >>> On 5 May 2014 13:57, meekerdb <[email protected]> wrote: >>> >>>> It creates a parallel medium of exchange in which those who make >>>> bitcoins first hope to profit from their appreciation. >>>> >>> >>> Hm. It all sounds a bit Ponzi-like to me. >>> >> >> If you go by that definition alone. In reality, mining becomes >> increasingly harder as we approach the hard limit of 21 million btc. The >> hard limit is already very non-ponzi-like. Fiat money is the one that >> doesn't have such a limit, and gives you no assurance about how much is >> going to be issued. >> > > As the goods available in exchange of that money are not limited (nor is > the population able to use that money), this arbitrary limit is bad... new > comers have less, first times users become rich, > True, but they also take more risk. If the system works, they are rewarded for providing the seed money that allows the market to exist in the first place. The amount by which they became rich is proportional to the value created by the system. > the money is extremely deflationist, it does not encourage to do > investment... lost bitcoin are lost forever augmenting its deflationist > nature. > I am of the opinion that deflation is a good thing, because it is precisely the system that can liberate us from the job-based mentality we are currently under. Humanity could run on people working just a couple of hours a day, yet most people are enslaved doing unnecessary work for most of their waking hours, because jobs are the only way to distribute wealth under an inflationist economy. Under a deflationist economy you can work until you have enough money and then stop, and you can better control the rate at which you wish to accumulate wealth: work hard for a few years or spread it more and work just a few hours. The rigged game of inflationist economies became obvious with feminism: once women joined the work force, it became harder for families to survive on a single salary. It's an enslavement system that deprives children of spending time with their parents, with all the well known psychological outcomes. > The system is totally unfair. > Fairness is a problematic concept, firstly because it's uncomputable and secondly because it's easily manipulated. For example, humans have a cognitive bias were they are more likely empathise with attractive people than ugly people. Charismatic speakers can skew the perception of fairness to their will. > Why would we replace a bad system by another bad system ? Why would we > "thanks" the first time users by an unfair amount of wealth ? > If bitcoin replaces the current system, it will have to be on its own merits. It does not have the power to enforce its own use, like fiat currency has. So, if you're right, you have nothing to worry about. > > Between two bad systems, I prefer keeping the current one. > And that's a nice feature of bitcoin: you're not forced to use it. Telmo. > > Quentin > > > > >> >> Telmo. >> >> >>> -- >>> You received this message because you are subscribed to the Google >>> Groups "Everything List" group. >>> To unsubscribe from this group and stop receiving emails from it, send >>> an email to [email protected]. >>> To post to this group, send email to [email protected]. >>> Visit this group at http://groups.google.com/group/everything-list. >>> For more options, visit https://groups.google.com/d/optout. >>> >> >> -- >> You received this message because you are subscribed to the Google Groups >> "Everything List" group. >> To unsubscribe from this group and stop receiving emails from it, send an >> email to [email protected]. >> To post to this group, send email to [email protected]. >> Visit this group at http://groups.google.com/group/everything-list. >> For more options, visit https://groups.google.com/d/optout. >> > > > > -- > All those moments will be lost in time, like tears in rain. (Roy > Batty/Rutger Hauer) > > -- > You received this message because you are subscribed to the Google Groups > "Everything List" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To post to this group, send email to [email protected]. > Visit this group at http://groups.google.com/group/everything-list. > For more options, visit https://groups.google.com/d/optout. > -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/everything-list. For more options, visit https://groups.google.com/d/optout.
