Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
tvbcof
on 06/07/2015, 17:55:02 UTC

We don't know who Satoshi was and if what 'he' said about this or that is even especially reliable.  Assuming it is, we don't know that he said exactly what he was thinking.

If Satoshi said that he wanted to build a niche monetary system for big players and insiders to use as a reserve currency, I would not have been interested and would not have gotten involved.  Only after having dwelt on it some did I come to the conclusion that in spite of the faults and somewhat distasteful nature of the solution, it is the best way to have a chance of enduring success (and thereby at least partially dislodge those who do the same under a vastly inferior monetary system design such is our current crop of fiat solutions.)  So, Satoshi may well have tuned much of his writings (and code) to play on social pressures as much as computer science ones.

From a fairly early stage Satoshi seems to have gathered a contingent of fairly small-minded adherent (in addition to some brilliant ones such as Hal.)  Lesser minds tend to be attracted to shiny and simplistic things such as the 'Bitcoin is everything to everyone always and forever' philosophical construct.  I don't find it at all difficult to believe that Satoshi may have tuned his messages to retain these folks and build a 'critical mass' using these as footsoldiers.  If it were that or nothing, that is preferable in the battle to achieve a viable solution.

that's pretty sad but totally expected from you.

if you'll recall, it wasn't actually that long ago when i was of similar thought; doing nothing to the protocol.  ever.

but reading some of JR's stuff and thinking about the concept of digital gold, i think Bitcoin has to be reliably and cheaply accessible by everyone worldwide for maximum decentralization and value.  whether that's achievable via future tech improvements remains to be seen but we need to try.  otherwise, gold will continue to be used and valued by an outside large contingent that won't bother with Bitcoin and will even compete to a very large degree. 

I've alternately nearly given up on Bitcoin multiple times over the last few years, and these periods coincide with the attacks on reasonable blocksize.

The 'trust everyone' idea of sidechains has given me new hope for Bitcoin in light of the fact that the lite and supportable nature necessary for a core solution has not yet been killed.  This makes for a situation where total shit-heads can own the 'reserve currency' and the world still have a scenario where the benefits can be used unencumbered by the masses.  Yes, the shit-heads may become even more rich, but they would and do do so anyway.   And yes, these large fish probably could game things, but the transparency inherent in Bitcoin allows end-users to migrate to solutions which take measures to avoid the manipulation.