Quote from: dinofelis on April 13, 2017, 12:42:54 PM

Quote from: iamnotback on April 13, 2017, 11:39:55 AM

All the $billionaires and $trillionaires will be doing their settlement in BTC.

It will be $500,000 per BTC.

That is obvious.

Of course not. People are maybe buying bitcoin at $1000 because they think it may go up to, say, $10 000,-. But who is going to buy a bitcoin at $500 000,- ? You're not expecting it to reach $5 000 000,- do you ? So if you buy at $500 000,- you must be buying near the all-time high for ever. Who's going to do so ? So bitcoin will still grow a while, until buyers realize that there's more downside than upside, not only in the short term, but also in the long term. And then, the greater-fool game stops. And we get the supernova, or the slow deflation of the bubble. I have no idea if it will be in 5 years, 15 years, or 30 years.

Billionaires are more concerned about stability (veracity) of their unit-of-account than the ROI. Billionaires have monopolistic businesses for making gains. For billionaires, money is a settlement and liquidity tool, not a speculative investment.

You do not understand (power) money. For your edification, read this.

When everything else is collapsing and unreliable due to the $quadrillion in derivatives in the fiat monetary system, the billionaires will only have one stable (incorruptible, no 3rd party liability, privacy, etc) money available to them. Bitcoin.

Quote from: dinofelis on April 13, 2017, 12:42:54 PM

Quote from: iamnotback on April 13, 2017, 11:39:55 AM

It isn't intended to be used by the masses. It is intended to be used by the $billionaires and they have the most wealth.

So those billionaires are going to put their fortunes in some funny crypto thing running by a few Chinese maffioso instead of owning companies, real estate, intellectual property and much more ? Wake up. Yes, sleazy business will. Porn, hookers, drugs, gambling, arms deals, espionage, hackers, tax evaders and so on will. But not really big billionaires. They buy state power, not bitcoins.

If you want to throw (or kick) a football to a wide receiver, you need to aim several meters in front of where he is directed, because he will travel some meters before the ball will arrive at its destination.

Analogously if you want to know what Bitcoin will be, you must look forward and understand how Bitcoin's ecosystem is changing, maturing, and growing.

The Chinese ASIC manufacturers are totally at the mercy of the only two fabs that can manufacture 14/16mn ASICs, one in Hong Kong and the other in New York.

The whales of Bitcoin (who are already $billionaires btw) control the miners, not vice versa. I had already explained to you how that economics works, when I refuted your nonsense about hashrate growing unbounded or even as a percentage of transaction value.

@dinofelis, your entire world is going to get turned upside-down and you will be entirely unprepared because of your cognitive dissonance.

Quote from: dinofelis on April 13, 2017, 12:42:54 PM

Quote from: iamnotback on April 13, 2017, 11:39:55 AM

Because you don't understand money and what time it is. You don't even understand that your own EU is collapsing into abject totalitarianism.

Stating that I don't understand something is not an argument, I already told you.

Yes it is, because all the refutations are in my archives. You're just lazy to read. You're stuck in your cognitive dissonance mode and lazy assumptions.

I am not going to repeat all the information in my archives just for you. It is your problem, not mine. It takes far too much time to debate with you, because you don't pay attention. Things I've stated, you fail to assimilate. It is a huge waste of time. And it is your problem.

Quote from: dinofelis on April 13, 2017, 12:42:54 PM

Quote from: iamnotback on April 13, 2017, 11:39:55 AM

Quote from: dinofelis on April 13, 2017, 11:23:09 AM

is that I have good reasons to think that bitcoin's design has too many clunky crypto design features to be the product of a mind like Nash.

You've been refuted upthread but you continue to repeat your errors instead of studying what I taught you and contemplating more deeply on the permutations of what I taught you.

No, you didn't. You gave some arguments that I debunked, and then you only repeated that I was wrong, or that I didn't understand, or that I was suffering from cognitive dissonance, but these are not arguments that demonstrate anything.

You did not debunk. You were incorrect. I explained why. You are unable to comprehend. So you continue on making a Dunning-Kruger asshat for yourself.

What else can I say to when you either can't or won't read (and fully assimilate) what I wrote and comprehend your mistakes?

Of course you will continue to ignorantly insist that you are correct, and of course you will continue to be incorrect. And of course you will continue to reply and claim my reply does not constitute a logical argument. And I will continue to understand you are refusing to learn and you are filibustering instead of just admitting that you don't comprehend how I refuted you.

Quote from: dinofelis on April 13, 2017, 12:42:54 PM

The points I made about the technical clunkiness not only stand, you haven't even been able to find a single argument against it.

Continue lying and you will go on my permanent Ignore.

I never thought you would be disingenuous but I guess ignorance can do that even to someone who I used to think was rational. Sigh.

Quote from: dinofelis on April 13, 2017, 12:42:54 PM

1) it is truly genial, so genial that we don't understand it but it must be genial because it was designed by a genius, and if we think it is clunky, that's because we aren't smart enough (circular proof of genius)
2) it is indeed clunky, but on purpose, only to mislead you to make you not see the design was done by a real genius (unfalsifiable argument: if it was brilliant, it was a genius, and if it was clunky, a genius wanted to make you think he wasn't a genius)

These two logical errors won't convince me.

I am not trying to convince you. I am going to enjoy watching you eat your asshat as all obstinate idiots eventually do. That is the only way you will ever learn, because you refuse to be rational in this case.

I am providing information for readers who don't want to be misled by your failure to assimilate the information which has been provided to you.

1) You don't understand the design (and at least not in the correct context of its goal, but also you make other egregious technical blunders which indicate you are not expert enough in blockchains). I do understand it holistically (don't expect me to write it all!).
2) It is not clunky. The design is genius. Your circular logic rebuttal is indicative of your tunnel vision. That is your incorrect assumption because you attribute a design goal (mass scaling, etc.) which is not the design goal that Bitcoin meets perfectly (power money system for the global elite, launched virally by employing useful idiots so that resistance would not form in the nascent stages). John Nash's Ideal Money stated that to bring about ideal money it would have to be done evolutionarily in an incremental and naturally viral fashion. If you understand game theory, you would understand why the elite can't just announce a new monetary system and expect to not be attacked and undermined. Your entire thought process is so tunnel vision and simpleton. You don't assimilate and incorporate all the possibilities to arrive at the conclusion which makes the most sense. You instead lazily jump to the most convenient assumptions which fit your subjective and personal wishes. The design is genius on many different levels. For example for the n00bs who have no technical comprehension, the mass scaling and idealism lies are motivation. For those with some technical comprehension such as yourself, you become arrogant and see it as clunky, because you assume those mass scaling lies were sincere. Lol. Satoshi (the elite) brilliantly turned all different possible attackers into useful idiot assistants. You talk Bitcoin down while it continues to grow its tentacles virally, which is perfect and what the global elite want you to do. The more naysayers the better. Because viral things don't stop growing due to naysayers. The more naysayers, the more a viral thing spreads.