Quote from: flagpara on December 31, 2015, 02:51:25 PM

Quote from: BldSwtTrs on December 31, 2015, 02:48:29 PM

Regarding what Satoshi expected Bitcoin to be: no one should care.

In my opinion, he is an outstanding genius but nobody is smart enough to understand the best use of Bitcoin on the future.

The only mechanism able to make Bitcoin fullfil its potentialities is the market. The market is a mechanism of agregation of knowledge and no human being can outsmart it, the market is collective intelligence at play.

1 000 000 average people are smartermore knowlegeable than one outstanding genius. 1 000 000 people more knowledgeable than 20 decently intelligent Blockstream employees.

Lots of people would disagree with you bro. You're basically saying the more we are the smarter we get. Numerous scientific studies are explaining the contrary! It all depends of the way you canalize things, and it can be done very badly.

Free market would have the same consequences in btc than in real life currency. I don't want to get the same thing here than outthere :/

The market canalize dispersed knowledge with appropriate incentives.

When you ask people about what they don't know, it is a mess. But within the market, there is a selection process where knowledge is rewarded and ignorance is penalized, so the result is not a mere average, but a selection and an aggregation of refined knowledge.

The more you gather knowledgeable people around a problem*, the more you allow them to follow the path they deem the most promising**, the higher the probabilby is that the problem will be resolved in an efficient and creative way.

*by allow profit to play its incentive role
**by preventing a small group of people to reduce the options of other

And real life currencies are managed by a small group of people, not by the market. If you want Bitcoin to stay special, you should reject the power of a small group of people over it.