Quote from: BTConomist on June 01, 2013, 04:27:00 PM

Quote from: bigbeninlondon on June 01, 2013, 03:55:52 PM

Quote from: BTConomist on May 10, 2013, 11:24:53 PM

Quote from: Stephen Gornick on May 10, 2013, 09:37:04 PM

Did you mean to write deflationary spiral? Or??

Why do you and others still assume that when I'm discussing deflation or inflation I refer to BTC exchange rate fluctuations? Remember, I don't speak the GOLD 2.0 dialect... I speak straight up BTC! Wink

Are you interested in learning how to speak proper BTC (will be offering classes soon)? In the meantime, may I suggest that you take maximum advantage of the GOLD 2.0 era exchange rates. Cool

Basically you could invert the idea of Gold 2.0 and create the same kind of economy the US is based on.

It is precisely that. Thanks for noticing.

But don't just take my word for it.

Quote from: bigbeninlondon on June 01, 2013, 03:55:52 PM

Is this why you are obsessed with the validity of the statement that 1 bitcoin could still service the entire world and keep referring to a "vaccine to gold 2.0"?

Yes, something like that.

How do you get all miners to agree to this? How do you prevent miners from secretly retaining a key they "destroyed" in order to retain large volumes of wealth?

Also, why is it so bad that bitcoin acts like a "Gold 2.0"? The world needs something like gold that does't require physical storage and can be easily transported worldwide. Why would you want to destroy that?