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[Martin Hash]

This is from 1st year Econ:

The ideal monetary system has an egg always costing $1, no inflation or deflation, real or illusionary.

If the money supply is held constant, but 10 million people are born needing 10 million more eggs so production = consumption; a fixed money supply makes an egg cost less than a $1 just because there's more eggs even though they're still worth $1 in real terms.

Gold used to be mined to increase the money supply 3% a year, about the same as population growth, to prevent this problem. The money supply is targeted to grow at 3% a year for the same reason. In an ideal world, one that existed for decades, that worked great but then productivity started increasing dramatically and our stodgy economics didn't keep up. There were people who understood: Alexander Hamilton for one, and Modern Monetary Policy was developed at the turn of the last Century, but our general population and even so-called monetary "experts," have no understanding of what's going on.

[Martin Hash]

The creators of Bitcoin knew this, so when Bitcoin first came out, there was Bitcoin mining where people could supposedly "mine" Bitcoins by solving mathematical problems on their computers that were designed to increase the number of Bitcoins by 3% a year. Back in the Intel 486-50 days that worked out but soon people were mining way too many Bitcoins with kickass GPU hardware, and the mathematical problems had to get ever more complex to limit the growth to 3%. Finally, they gave up and arbitrarily said there was enough Bitcoin. Who cares if it made sense, it was just a Ponzi scheme after all.

[DBTrek]

How is BTC fiat? The total number of units is capped.

It's not backed by a commodity (or a government, for that matter).
Its value comes from mass adoption and use - aka, millions upon millions of people accepting it as a medium of exchange and store of value.

Like a religion.

I'd say more like an inevitability that we've all witnessed occur in our lifetimes, over and over again - mail to email, books to eBooks, grocery shopping to online shopping, etc, etc.

But sure. This time the stodgy, less efficient, less versatile technology will surely prevail where it has failed in all other cases. Why not?

Also - BTC was capped at 21million from its inception. It wasn't capped when more miners or better technology entered the race. The last bitcoin will be mined in 2140, as intended, capping out the 21 million supply. Scarcity is just one aspect of what gives it value - on top of the considerably financial freedom and versatility it facilitates.

[Martin Hash]

Block-chain as a means to prevent counterfeiting is just what government needs.

My argument isn’t against the technology, it’s that private money is a Ponzi scheme waiting to happen.

After governments do adopt Block-chain, the Gray Market will have to use something; that’s when minted coins will increase in real value again.

[SuburbanFarmer]

Russell Brand has been doing a ton of YouTube videos pointing out the issues, for a normie audience. Gonna be hard to deplatform him.

[Zlaxer]

Gonna be hard to deplatform him.

Why? Just flip the switch.

[SuburbanFarmer]

Gonna be hard to deplatform him.

Why? Just flip the switch.

Because he’s annoyingly reasonable. And we’ll known. And part of the Hollywood clique.

[Zlaxer]

Gonna be hard to deplatform him.

Why? Just flip the switch.

Because he’s annoyingly reasonable. And we’ll known. And part of the Hollywood clique.

And?

Gentleman’s bet for some DCF bucks?

[SuburbanFarmer]

Why? Just flip the switch.

Because he’s annoyingly reasonable. And we’ll known. And part of the Hollywood clique.

And?

Gentleman’s bet for some DCF bucks?

I’d bet he stays on for a while. He’s got too much mojo not to raise a stink if he gets banned.

Either way, it’s a brave move by him. I respect that.

[doc_loliday]

My argument isn’t against the technology, it’s that private money is a Ponzi scheme waiting to happen.

Why's that?