Quote from: Harvey on December 10, 2011, 02:31:49 AM

Quote from: o on December 10, 2011, 02:23:48 AM

Quote from: evoorhees on December 09, 2011, 05:31:31 PM

Quote from: jago25_98 on December 09, 2011, 05:29:48 PM

Bitcoin still behaves like money.

In what way would you prefer it to behave?

Money forces everyone to assign a positive real number to every exchangeable stuff. Even more, the real number line in everyone's mind are forced to match with the real number line with each other. But in reality, the real number lines match very poorly because stuff A have larger values than stuff B in one person mind can have the opposite ordering in another person mind.

Yes because there is an objective value on everything and people just don't know it. People don't know what they want. They don't know what's best for themselves. We should assign specialized technocrats to decide such values and how we should lead our lives. There is a real number and only the wise and virtuous technocrats know.

Now, back to reality: The numbers match up perfectly because they are the culmination of asks and bids of the people who own said "stuff". Nobody knows better than the person who had to make the choices and actions necessary to produce and possess said product and/or service. Now, of course, there is not only one individual that can produce a good or service; there are many and the prices will adjust to competing bids and asks. The spot price is the "real" number. Just because somebody is willing to pay more than you are, it doesn't mean the price is wrong. It just means you don't value the object as much and you will have to pay just as much with whatever goods if you can only barter. Actually, bartering will only make it more expensive with the time you have to spend trading to get it.

Individual desires differ. We are all unique and special in our own way. Didn't they teach you that in preschool? I'm sorry everybody doesn't think and desire the same. We are called sentient individual human beings for a reason. If we all acted and thought unilaterally in unison, guess what: We would be a single individual. Sorry, we are not.

At the least, I am my own organism.

I do not believe there is such objective value on everything. It has such price points because money are at the center linking everything. When you need to exchange stuff with other and convert it to money first, you must go through that price. The price may differ by the number in your mind, but you have to deal with it.

But in fact, if you bypass the money at the center and directly exchange it will others, and both of you agree with the exchange stuff. It is very likely that you two get more value in your own "real number line". In this sense, I do think there is any objective value.

Barter in today is much more convenient than years before, but still not yet any sophisticated, so lets see what will happen on ti