Quote from: Robert Paulson on April 06, 2015, 02:56:29 PM

honest money is a type of money where you can't just print more of it and redistribute the purchasing power arbitrarily.

Your "honest money" is something that lacks dynamic supply. Dynamic supply that is ESSENTIAL for any currency to have stable and predictable value in a dynamic economy.

Quote from: Robert Paulson on April 06, 2015, 02:56:29 PM

you have to understand that an economy can not function properly when capital is allocated according to the whims of politicians and bureaucrats at a central bank.
it has to be allocated according to supply and demand so that production of what people demand can occur.

I agree that the rules of the economy should be neutral from politics and corrupts that goes with politics. But if bitcoin would actually replace fiat, then those same corrupt politics would have a lot more power then they had before. Bitcoin is valued almost purely on speculation, so in the Game of Bitcoin, the winners are those who have more and those know how to manipulate the markets. Bitcoin wouldn't solve the problem of concentrated power, but it would make it a lot worse. If you are currently unhappy how the sharks of the stock markets are getting rich at others expense, then these sharks would be the absolute rulers of the economy.

Quote from: Robert Paulson on April 06, 2015, 02:56:29 PM

in particular the interest rate has to be set by the market according to the supply and demand of savings.

the people who understand these basic truths and understand why bitcoin is more functional than gold will make a fortune.

Gold has always been a terrible way to store value or transfer value.
Gold has been good for several things, like: 1) Electronics 2) Jewellery 3) Speculation
Because bitcoin lacks the mechanism to keep a stable and predictable value, it's a very low quality currency, that is only good for one thing - speculation. Gold will remain valuable because of 1) and 2), and speculation will still last over this metal through centuries. Bitcoin will get old and boring pretty fast though. New practical forms of digital currencies will come out, and they will attract people with it's easy and safe use, not by it's promises of easy riches. These currencies will spread fast because of their practicality. No cults will be needed and no promises will be made for the lazy, that by joining, they would become rich without working.