Quote from: jbreher on March 09, 2017, 11:53:25 PM

Quote from: traincarswreck on March 09, 2017, 11:29:56 PM

Quote from: jbreher on March 09, 2017, 10:14:28 PM

Yeah - I get that subtext. The fly in that ointment is that the value of Bitcoin (for any rational definition of 'value', which OP steadfastly refuses to define) is increasing spectacularly. By this criteria alone, it cannot be the Nash Other Alternative.

IOW, in no way does it resemble a duck.

As an aside, this is the very property that has led to the economy singling out Bitcoin.

You don't understand the difference between value and price.

Well, I will grant you one thing. As long as you keep refusing to define 'value', you are free to assert any relation between value and price that you care to. But to make an argument upon undefined terms is simply wasteful.

Find a handful of people that agree with you that the value of Bitcoin is unchanging and I'll reconsider my position.

Quote

Just because and exchange tells you price is "x" doesn't mean the value is also "x".

Where did I state that conjecture?

Quote

You are just again clearly showing you have no understanding of market theory or global/macro-economics.

If you say so, chief.

In regard to the bold, as i understand, you have implied that bitcoin's value is increasing rapidly. By your question "where did I state that conjecture," you have implied that you do not equate value to price.

So where are you basing the claim that bitcoin is rising spectacularly in value?

Quote

Find a handful of people that agree with you that the value of Bitcoin is unchanging and I'll reconsider my position.

The entire significance of this project and the purpose that it exists is that bitcoin's value proposition is such that it should remain fairly stable. If it wasn't expected to be as such there would be no argument that people would adopt it as an inflation hedge or a money. Predictability of supply is the key quality it has. You know nothing about bitcoin if you don't understand this.