Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Richy_T
on 19/01/2016, 00:40:32 UTC
This. They think scarcity alone will bring value (price appreciation) if it is done decentralized.


Think of it this way. Rather than that weird parcel analogy alexGR is using, 1mb blocks are like the traditional taxi system. Prices are regulated and supply is limited by a restrictive and expensive badge system. When you're wanting to get home and it's a big night out like new years eve, you can't get a taxi because everyone else wants one. A sane, free market system would bring more taxis out but you can't because the supply is limited and there is no way to adjust the supply.

Removing the block size limit is like Uber.

The genius part of Bitcoin is that is more than an engineering work, the design understands basic economic and psychological principles (game theory), and unite them in an environment, where everyone can join voluntary.

Yes. This is exactly what drew me to it.