Heya!

I'll try to watch the video at a late time but it is precisely the concept of controlled supply that worries me.
Since this money will not be issued in accordance to good and services available for that money it will in the end stop being a currency (even one created out of thin air) and simply a ponzi-scheme which people buy in hopes of increased value. There will be no point in purchasing anything since any purchase would thin out your finite investment and in the same way you couldn't possibly sell anything.

For those wishing to enter into new anonymous transactions a new digitical currency would be preferable.


I think in the best case scenario all bitcoin users are screwing over the rest of the world through their personal little federal reserve creating world currency that deflates the value of current currency. Butwhat happens as this minting stops and the pyramid-scheme part of things ends ?(frankly there is as someone mentioned no risk to this pyramid-scheme (the minting itself), it just is one). The risk is always in the ponzi-aspect (of the pyramid-scheme) and this is one of those rare, most interesting cases when joining the pyramid game is split from the ponzi-scheme.



Let's recoup a bit since I easily overstretch myself:

Pyramid-Scheme: People who mint early gain more over people who mint late.
Question: Who do they gain (Pyramid-players) from?
Answer: The Ponzi-Scheme investors who do not mint but hope to either gain from the bubble or the service by buying bitcoins from the minters.


PS: Thanks for the well-wishes. I hope that I am wrong because I am fascinate by the idea! I especally hope that I am wrong about the correlation between the minting and ponzi-scheme because let's face it. The long-term survival of bitcoins as a currency is based on those who want to use it as a service; not the minters and not the (bubble) investors.