Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
r0ach
on 18/01/2016, 06:59:15 UTC
Satoshi's basic mistake was to make the currency non-inflationary.

Anonymint made the same mistake as you, thinking it's somehow more ethical to have an inflationary currency.  I think I have debunked that notion in the link below:

https://bitcointalk.org/index.php?topic=1319681.msg13544160#msg13544160



I wrote that too before: it became a pyramid investment scheme and a tool for crime.  

You need to lay off the moonshine before typing stuff like this.  All forms of currency are either pyramids or ponzies.  Any finite commodity like gold where you can attempt to corner the market is a pyramid scheme.  Paper money is a Ponzi because the infinite printing fulfills the requirement for needing a continuous stream of investors or you're by definition robbing the others.  The unsustainable requirement of the Ponzi is also fulfilled by the fact that currency is inherently an options contract for goods or services in the future.  The fact that I can just refuse to accept your paper currency and switch to a different currency making you not able to redeem anything gives it an always unsustainable nature each second of the day.  They're nothing but option contract time bombs.

The only honest man's currency is to remove the abstraction and just use flat out barter.  You're making a deal with the devil in order to have more efficient specialization of labor.  And "crime", give me a break.  You can delete every currency that exists and there will still be crime, so what are you even talking about.