Post
Topic
Board Economics
Re: Martin Armstrong Discussion
by
sidhujag
on 15/04/2017, 18:44:29 UTC
btc has no less counterparty risk than gold

You need to be flat out lying to claim bitcoin has equal or less counterparty risk than gold.  It requires ONLY TWO parties in order to complete a transaction if there is no counterparty risk involved.  Since you need things like active miners, active node archivers, and numerous other parties, bitcoin has QUANTIFIABLY HIGHER counterparty risk than gold and silver.  There's ALWAYS more than two people involved in the equation, and the Nash equilibrium doesn't even exist in the first place, nullifying it's entire purpose.
Better than government confiscating your gold at will or taking down serial numbers and throwing anyone in jail that owns that gold bar.. nullifying its entire purpose. Atleast with miners they have incentive to do good and there is no jurisdiction of miners where governments may implement policy without assessing risk to the whole but only for selfish reasons in their own jurisdictions.

Tainted coins can be fixed with ct and valueshuffle while gold cant do anythinf theres no fungibility (banks wont take gold bars without serial numbers and is too heavy anyway. Gold and silver are going backwards as an ideal money where bitcoin is asymptotically closer to ideal according to nash. Even fiat is more ideal than gold.