Quote from: eCoinomist on August 20, 2013, 06:20:26 AM

Again, I must say that your whole theory relies on steady demand for Bitcoin, PPC and XPM alike.

You have not taken into account disruptive technologies, such as Decrits (which is for pure example only - unlikely to ever realize) or eMunie (still in beta, but close to initial launch) that will take over the whole Bitcoin niche (which to date only has about 200K users, max).

In two years from now, Bitcoin has a very high chance of becoming "history" when it comes to functioning as a currency, and may only be used as a store of value by then (a commodity), because new things like eMunie will be able to process transactions in seconds, not minutes - so while not designed to be a "commodity" - it's function is very clear - to be used as a currency and it suppose to do that better than what Visa has already accomplished.

I'm sure Satoshi was very clear about where he wanted to see Bitcoin going over the long term - to function as a commodity and a stepping stone towards decentralized currency revolution - and that is what eMunie is NOT designed to replace (but who knows, maybe someone else will create something better than Bitcoin in the future to be used as Digital Gold!).

That's why I see no future for Primecoin, nor PPCoin, because you don't seem to have planned out a clear direction of where you want to see your coin heading in the long term.

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Both Primecoin and PPcoin are lost in between being a "currency" and a "commodity" - but do a horrible job of both...

I didn't want to talk on this, but at this point there is no other choice. You don't understand economics, you don't understand computer science that's pretty clear now.

First what is a currency ?
You seem to like VISA business model, but VISA is not a currency, it's a DEBT ISSUER company, just like a bank but without fiat money issuing power (not regulated by fed, ecb, boe, boj...). So if eMunie is a Visa-like scheme it's doomed to fail. Visa/Mastercarcd&co process transactions in few seconds so you're not doing something new, and unlike eMunie, people trust them, they're in business since a while and you know what ? economics and particularly money is about trust.
A currency is a mean of exchange, primecoin can be exchanged
A currency is unit of account, you can basically value anything you want in primecoin, even if his "market cap" (it's better to talk about money supply) isn't large enough to let you buy anything you want
A currency is store of value, that's definitely the most important when it comes to cryptocurrencies, bitcoin included and that's also why regulators want to step in. am I gonna lose my money if I invest in bitcoin/primecoin/whatevercoin. So As long as primecoin keep/increase/manage his value, it's a valid store of value.

You talk about commodities. A commodity is simply anything that can be freely traded so even USD/EUR/JPY are commodities traded on Forex markets. The only difference compared to nature-based commodities is simply Ben Bernanke & co playing roles of "mother nature" for the sake of all of us. You seem to mingle scarcity and commodities.

Now i'll tell you why Primecoin is the best alternative/complement to bitcoin :
-It's fast enough for online transaction. One minute is an acceptable tradeoff for e-commerce. But bitcoin is fine too if you add a layer that can indicate that buyer BTC address has enough funds; nevertheless a fast coin increase Velocity of money and therefore is definitely a plus.
-It can never be merge mined with Bitcoin. So they are two different currencies just as Gold and Silver were.
-It's not a capped coin. Therefore it's still share some characteristics of current fiat money. Continuous supply should stabilize value of XPM and discourage hoarding as value doesn't increase with time. Basically it's like a pure neutral money. World GDP has increased over time (think about before J.C and now), so it's safe to assume a little inflated money to expand innovation and growth.
-Bitcoin won't be the only crypto in town. Friedman in Money Mischief stated that bi or tri-currencies scheme is always better than "monocurrency". I share this view, Gold lost to fiat, because of silver demonetization, so for me bitcoin need altcoins.

Why I picked primecoin among alt-coins satisfying previous statements ?
- because of his PoW. Gold had intrinsically almost no value other than aesthetic and durability. But there were many durable commodities, so it's probable that people picked Gold and Silver because they were aesthetics. Translated in virtual scheme, Primecoin use of prime numbers is equivalent. For many people (mathematicians) primes are like numbers of God, they seem to follow a pattern and could be seen as very aesthetics.

You don't like XPM, it's okay. It's a free business. Wait for eMunie and stop wasting your time telling us we're wrong while you don't have a clue about how monetary stuff works.