Quote from: Wind_FURY on January 05, 2017, 03:31:14 AM

Quote from: deisik on January 04, 2017, 10:22:40 AM

Quote from: Wind_FURY on January 04, 2017, 08:38:18 AM

Quote from: deisik on January 03, 2017, 06:55:16 AM

That's the whole idea behind the Big Rip!

Hoarders holding on to their coins will make less coins participating in circulation (Bitcoin as a financial asset and currency), and the price can be however high. What about 1M dollars per bitcoin with a few hundred million bitcoin holders and only a few hundred bitcoins being freely traded across the world? If someone should decide to cash out his 1K stash of bitcoins, it will be bought up immediately by millions of greedy hands. Ultimately, it will cause all 21M bitcoins (minus lost bitcoins, of course) get distributed more or less evenly among the world population and then the Big Rip happens (run-away price with ever diminishing Bitcoin units)

That may happen in theory but we as humans tend to bw greedy and want more. Bitcoin will not change human nature, in fact it will validate it especially as Bitcoin's price surges higher and higher. Never have we seen the ideal scenario where wealth is evenly distributed to each one of us. Not even the communists have achieved that kind of equality.

The problem is that Bitcoin is not wealth itself

But that is besides the point of the Bitcoin Big Rip theory. If everyone behaved rationally and were here to build a utopian society then yes, it can happen. All the Bitcoins will be distributed as widely as possible. But that goes against our nature and impulses as humans

But it was not me who first mentioned wealth in respect to Bitcoin and the Bitcoin Big Rip scenario, right?

Nevertheless, since this thread massively employs analogies from nature, we could again look at what happens in nature. I refer to entropy. It is known that entropy of a closed system doesn't diminish. What does it tell us? If we draw an analogy between entropy and Bitcoin distribution, we should conclude that in due course (i.e. over an indefinitely long period of time), the Bitcoin distribution should become more uniform (heat death of the Universe), even though currently we see some people accumulating more bitcoins than others (entropy decreases locally by increasing it everywhere else). But even black holes, which emit nothing but gravitation (that would be early adopters and big whales not going to sell a single satoshi but only attracting obsessive attention to their wallets), are set to evaporate in the future. And that would be quite in line with the Bitcoin Big Rip scenario

Quote from: Wind_FURY on January 05, 2017, 03:31:14 AM

Quote

Even fiat money is not wealth. Basically, it is a tool for exchanging wealth, and if you have, say, 100T US dollars in your bank account or in paper dollars, for example, you created a machine for an atom to atom copying Benjamins (let's assume they don't have serial numbers imprinted), you won't be able to buy all the genuine wealth existing in the world. In fact, you won't be able to buy even major public companies that are being traded on exchanges, since no one will be going to sell you a controlling stake in a profitable company for whatever money. Russia has once tried to buy Opel with their US dollar reserves, you can search what's come off this

Interesting. I will research on that if I have the time later. That is why you are one of my favorite posters here in the forum. You have many interesting thoughts and ideas

You are welcome