Quote from: johnyj on January 11, 2016, 05:36:38 PM

Quote from: bargainbin on January 11, 2016, 05:28:06 PM

Quote from: johnyj on January 11, 2016, 05:08:54 PM

Quote from: bargainbin on January 11, 2016, 04:48:26 PM

Is "400% per year" price growth likely for a currency costing $100 per transaction?
"Bitcoin 2.0: A Peer-to-Peer Electronic [Useless As] Cash System"?

Why do you want to use the blockchain directly when all you want is zero fee transaction?

Why would I want to buy BTC period? To "store value"? Why not use Beanie Babies for that?

How many BTC are there gonna be total, 21 mil? You know how many First Edition Princess Di Beanies there are? That's right, *fewer*. Moar scarcity.

And while the 21 million could be changed on a whim, with a simple fork, there'll never be another First Edition Princess Di Beanie. By definition.
Princess Di Beanie scarcity is guaranteed by logic, its value could not be diluted according to fundamental and unalterable metaphysical laws.

"But how do you transact in Beanies? That's, like, the dumbest thing I ever heard!!" you protest.
"Why do you want to use the Beaniestalk directly when all you want is zero fee transaction?" I reply. Beanies are not for transacting, use sidesprouts for that. Beanies are for storing massive amounts of wealth. Cool

Sorry I never heard about Beanie Babies until last year, just like almost no one heard about bitcoin during 2009. But now there are so many exchanges out there to provide the bitcoin conversion to fiat currency world wide, if you have an exchange for Beanie Babies, it would also have its market value decided by the users

Scarcity is one of the reason for bitcoin's value, but there are more to it. Being able to produce bitcoin by yourself is a very important aspect, this does not apply to Beanie Babies

>you have an exchange for Beanie Babies
When people see Beanie "value rise 400% per year," they'll build exchanges. Same as Bitcoin.

>Being able to produce bitcoin by yourself is a very important aspect
Oh? You mean one can spend $100 to mine $20, that sort of a thing? Because that's roughly what non-factory miners can expect.
If you want, I could create Giant's Place, a Beanie Cloudmining website, where you can pretend that you're mining Beanies while I return $20 out of each $100 you give me.
How would that be different from Bitcoin?