Quote from: r0ach on January 15, 2017, 11:18:57 PM

Quote from: iamnotback on January 15, 2017, 11:27:03 AM

He is not buying for a rational reason of buying low and selling high. For him, it is a religion against paper gold.

You are asking him to admit his entire thesis for his life is an error.

No offense, but your thesis on a so called knowledge age is completely irrational. When complex systems collapse, they devolve into simpler ones. They never jump into a higher tier of complexity. Complex systems also tend to require exponential resource (energy) curves. Peak conventional crude oil already happened in 2004. Peak working age demographic already occurred in every nation that matters.

Wealth comes from people doing work in the real world, not shuffling around papers. That work is either done from things like burning fuel to do the work for you, or humans physically doing it themselves.

Your thesis is entirely incorrect.

You had better wake up else you will entirely miss the boat.

Profit margins from mass production are dying. The future profit will increasingly come from creativity.

Quote from: http://www.reuters.com/article/us-usa-autoshow-china-electric-idUSKBN14V1H3?utm_source=34553&utm_medium=partner

That's in part because Chinese automakers are more aggressive in lowering their costs regardless of quality, said an executive at a multinational auto parts firm.

"The lowest price wins (the contract). That's the process, no questions asked," said the executive, who declined to be identified to avoid impacting future contract bidding.

"And when you win, they come back and ask you for another price reduction," the executive added, noting less stringent safety regulations in China also help keep costs lower than in the United States.

Quote from: iamnotback on January 15, 2017, 07:35:41 PM

Quote from: miscreanity on January 13, 2017, 07:25:40 PM

Ah, I have not had a chance to read all of your writings. If I'm not mistaken, you're saying the marginal cost of production will effectively be reached and there will be insufficient margin or even demand to profit on physical goods.

In the sense you describe, it seems that Bitcoin as a reserve will only be a transition. What would the point of a reserve currency be in a Knowledge Age? I'd expect creativity, reputation and work to be indicators of worth instead.

Agreed. We only need reserve currencies in centralized monetary systems. Bitcoin is the link between the fiat world and the crypto-currency world.

In a Knowledge Age, worth is non-fungible.

But whilst humans still cling to stored monetary capital, then we will have these legacy systems.

The only constant is the Second Law of Thermodynamics which informs us that entropy is trending to maximum. The Knowledge Age is all about increasing entropy. You had better make sure you understand this and stop clinging to incorrect bullshit.