Quote from: ChicagoSchooler on February 23, 2015, 12:29:01 AM

Quote from: kjj on February 22, 2015, 11:46:25 PM

Fixed it for you. The "correct" basket isn't possible. "Optimal" is only meaningful from some particular subjective point of view.

The political policy that influences an economy are completely subjective.

Bitcoin represents a political/economic policy that is not subjective. There is a fixed supply, known in advance, with no mechanism to ever create more. Anything else will be abused.

You need to understand this. It is very important. Most of us do not want a money system that can be manipulated. We do not care how well intentioned the manipulator is. We do not care how hard the manipulator pretends that he is being objective. We do not want the tyranny of the well intentioned any more than we want the tyranny of the evil.

Quote from: ChicagoSchooler on February 23, 2015, 12:29:01 AM

A sample can represent a population. Accuracy and precision is dependent upon the statistical method used.

Economic transactions are not fish in a lake. You can't cast your net and collect a bunch of them at random. You get the ones you go looking for, which is not how you collect a sample. The only way out is to get them all, which is not possible.