bentech wrote:you cannot make a currency finite when labor and production are infinate
thats why currences linked to resources like the gold standard are a scam.
theres no more frontier,
we live on a globe,
the understanding of that is what forced fiats into dominance and thus what propelled humanity into civilization
So now are you saying with the truthdig article
there is value in having a limited fiat system such as the gold standard would supply. A plus for bitcoins
Or the fact it models after the Gold standard indicates a non workable system, if one believe using the gold standard is bad. A negative for bitcoins
Last edited by Intrinsic on Fri Dec 27, 2013 7:27 pm, edited 1 time in total.
It all eventually boils down to an optimization problem with population limit as a constraint; Population control. No system will stabilize if the ratio of people per resources is continually get larger. One can not change that with just using a different (limited or unlimited) fiat system to model an economy.
A sin or a good idea?
As of 2013 no country used a gold standard as the basis of its monetary system, although some hold substantial gold reserves.
not saying that...
merely passing along all im reading on the subject... all sides
after reading THAT article my feelings about bitcoin has turned decidedly for the worse PRECISELY because of the further questions that caveat their illuminating brings up...
found this,
lots of nuts and bolts most of this other editorials completely miss
you go for the .45 1911 on your cross draw shoulder and your instantly stunned with a shotgun. *BullButtSlug. right up in the ass .. hole.. talk about instant loss of virginity .... talk about the PAIN! no lets talk about violation of our.. anal rights!
This is much more than a violation of moral laws butt.
Ok I know I kinda starting smiling there a bit but its cause getting shot in the asshole is so painful its kinda funny in a awful way.
smirk.. sorry..
hits button
transfer complete
oh wait.. duh its SHTF they ain't no inner net.?
where's my pliars?
Just because I can't spell misanthrope doesn't mean I'm completely stupid.