Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
coindesk's centralization scaling conference:
More seriously..
Bitcoin's value proposition lies in its fixed inflation. No number of dollars meeting the market can increase the supply schedule. Trilema clearly explains:
There's pretty much literally nothing those extra dollars nobody wants can do to increase the Bitcoin supply. It's very, very inelastic, and consequently the only stability point is when equilibrium is reached. Two billion dollars divided by 600`000 Bitcoins comes to three thousand dollars and change per Bitcoin.
Bitcoin is faced with hitting another inelastic limit in its maximum transaction volume. Consumers have come to expect to get what they demand "the customer is always right". As such consumers have begun to revolt due to them not getting their demand of Bitcoin competing with Visa or as Trilema predicted in 2013:
one of them is that consumers revolt, entrepreneurs intervene, before the end of 2015 there's about a thousand to a million different Bitcoin forks, each with its ten million-ish monetary base worth about a dollar, on global average. The size of the inter-Bitcoins market, the complexity and confusion ensuing makes pretty much everything unmanageable for the "ordinary person". Hedge funds and banks (the ones a little ahead of using Excel) that trade in this murky complexity make a killing and become the principal driver of economic growth worldwide. Not only is the consumer about as screwed as is currently the case, but to everyone's benefit he has just been clearly proven yet again that revolt = being fucked in the ass harder, longer, with a thicker implement with sharper barbs on it. Also conveniently, the thing to revolt at has become much more vague and intangible. On the balance of probabilities this would seem the most likely outcome, strictly because history unerringly flows in that direction which most cruelly rapes the "average person".
Many consumers have exclaimed they will leave Bitcoin to go to an altcoin which suits their "needs" if they don't get their way in Bitcoin being perverted into a system to compete with Visa. What they don't realize is the consequences they will face if they choose this option.
source: http://qntra.net
http://qntra.net/2015/09/mit-sacrifices-rag-in-xtcoin-push/
More seriously..
Bitcoin's value proposition lies in its fixed inflation. No number of dollars meeting the market can increase the supply schedule. Trilema clearly explains:
There's pretty much literally nothing those extra dollars nobody wants can do to increase the Bitcoin supply. It's very, very inelastic, and consequently the only stability point is when equilibrium is reached. Two billion dollars divided by 600`000 Bitcoins comes to three thousand dollars and change per Bitcoin.
Bitcoin is faced with hitting another inelastic limit in its maximum transaction volume. Consumers have come to expect to get what they demand "the customer is always right". As such consumers have begun to revolt due to them not getting their demand of Bitcoin competing with Visa or as Trilema predicted in 2013:
one of them is that consumers revolt, entrepreneurs intervene, before the end of 2015 there's about a thousand to a million different Bitcoin forks, each with its ten million-ish monetary base worth about a dollar, on global average. The size of the inter-Bitcoins market, the complexity and confusion ensuing makes pretty much everything unmanageable for the "ordinary person". Hedge funds and banks (the ones a little ahead of using Excel) that trade in this murky complexity make a killing and become the principal driver of economic growth worldwide. Not only is the consumer about as screwed as is currently the case, but to everyone's benefit he has just been clearly proven yet again that revolt = being fucked in the ass harder, longer, with a thicker implement with sharper barbs on it. Also conveniently, the thing to revolt at has become much more vague and intangible. On the balance of probabilities this would seem the most likely outcome, strictly because history unerringly flows in that direction which most cruelly rapes the "average person".
Many consumers have exclaimed they will leave Bitcoin to go to an altcoin which suits their "needs" if they don't get their way in Bitcoin being perverted into a system to compete with Visa. What they don't realize is the consequences they will face if they choose this option.
source: http://qntra.net
http://qntra.net/2015/09/mit-sacrifices-rag-in-xtcoin-push/