Quote from: AZwarel on May 09, 2016, 02:55:51 AM

Quote from: Fakhoury on May 09, 2016, 01:16:05 AM

You are most welcome my new dear friend Tongue

I extremely enjoyed how deep into economics and math you are as well as your way of thinking.

Btw, I said earlier this exact same sentence (That is why i will retire at the age of 35-40, and they will work till their death Sad

).

What do you think about triple digit BTC value, way too much or ?

I am mostly* a follower of the Austrian economic thought, so whatever the digits are now, they are the digits right now. The market - the sum of all of the participants - is what matters. Since value is subjective, hence a mirage, it does not matter what i think, or people with real talents :-) think, if the other 99,9999% does not care, we can s*** up the coins to our...well it is digital, so we can not, but you get the picture :-D

While those who understand why Bitcoin is a paradigm shift in the social construct (hierarchical, pyramid like topography versus anarcho-capitalist, flat and voluntary - so to speak spontaneous order), the overwhelming majority prefers the "matrix of status quo" of today. Why?

1. Thinking is hard. It is, the brain can use up to 40% of calories (given that outside temperature is near body levels) taken, so it is an evolutionary instinct to act "non conscious",
2. Risk aversion /Failure aversion. It is just basic human nature, evolution taught us not to "rock the boat", for it is high risk/high reward, yet too much cortisol** (stress hormone),
3. Herd mentality: to be honest, most of the populace act as their long term female companion dictates, aka, peaceful civilizations tend to be show higher mammalian herd tendencies, like socialism - until it collapses, and rampant and uncontrolled fight began for status and power between males,
4. The need for a pastor; the herd will follow any leader who has been showing power in the past. See herd mentality, and historical figures inspiring unimaginable acts from "ordinary people".

The point is, IMHO, as ECB said before, the "marketing", human psyche has more to do with bitcoin's success than any technical detail. Do anyone has the illusion, that Mrs. Widow at the age 67, or Mr. Accountant in the cubicle knows about, or will EVER comprehend the blocksize debate? No, they will only adopt bitcoin, when they have so huge and obvious loss in comfort/utility/told by their gossip tabloid, in everyday financial interaction, that remaining in the old construct of hierarchical, top-down, command economy collapses. That is okay, they took zero effort, zero risk, so why would evolution reward them with a prize? They will not be rich, but they can continue to function in an otherwise unsustainable economic system of the today's debt based madness.

Before that, most millennials, X-gen, and the likes of us will stack up bitcoins not for everyday use by necessity, but for hardcore, sweet greedy, speculative "easy life, early retirement" life, IF we are right, i might add, but i have 0 doubts, this is math after all :-P

*I say mostly, because phenomenons evolve, and there is no absolute perfect "school of thought" in my mind.
** For the really hardcore people. this is an adequate summary of cortisol https://en.wikipedia.org/wiki/Cortisol, TLDR; stress induce adrenaline production - "running from lion" - the body interprets this as a danger for life, and with adrenaline, cortisol is bound to be produced to counter balance it; decreases several key functions in response, like your immune system (IFN - interferon gamma globulin level reduced, which is kind of a natural microbe killer), by reducing B-cell response, reduced wound healing through http://www.psyneuen-journal.com/article/S0306-4530%2803%2900144-6/abstract, also messes with your glucose levels (omg am fat!). Read MFs!

I see here you perfectly elaborted what our dear centeral bank said Cheesy

All what you said, as usual, I agree upon but my mind is begging me to ask in order to get the complete picture.

1. Could you please elaborate more the last part starting with "IF" until "this is math after all".

2. I'm thinking about something else now, will it be that easy to reach $5K, $10K till $250K in terms of poltical intervention and policy makers, will goverments, banks etc. keep watching Bitcoin taking over easily ?

I'm convinced with what r0ach that central banks sooner or later will buy a lot of Bitcoins as Bank of Japan is doing.

Btw, today Japan surpassed US by being the 2nd largest Bitcoin market after China.

Won't Bitcoin get cracked, not a must it's encryption, I'm talking in general.

3. Forgot the price, lets say we are now in 2025 - 2030, describe Bitcoin the escosystem, assest, currency whatever.