Quote from: hbadger on June 18, 2014, 02:31:06 PM

Quote from: Johnny Mnemonic on June 17, 2014, 08:44:34 PM

If you want to save long-term, then invest in mutual funds or real estate or whatever you want, but don't sit on your currency.

Or... I can invest in Bitcoin, which doesn't tell me what to do. That's what it was created for, remember? We are supposed to be in control, and not have our wealth stolen through inflation or other trickery. If you are in doubt of this, go read the genesis block.

A currency that is just like the USD is not interesting and I won't use it, no matter what your theories say.

Bye.

Currency cannot behave like currency if the value constantly trends upward. An asset's value appreciation tends to be the inverse of its liquidity.

If you like Bitcoin so much then invest in Bitcoin. That's the whole point I'm trying to make. The bulk of your wealth should not be liquid, because that's not what currency is for, and you will likely not see a comparable ROI.

I'll just go ahead and link to this again: http://physics.umd.edu/~yakovenk/papers/PhysicaA-299-213-2001.pdf
Power-law wealth distribution means that with a finite money supply, your wealth is pretty much guaranteed to be eaten over time, as more money flows into the infrastructures of the economy than flows back to the consumers.

You want to be in control and not subject to the whims of banks and governments? Me too. We are on the same team.

Do you want to continue to pay pay 2-4% per year (plus income/capital gains taxes) to greedy bankers who only want to take countries and people into debt? Or would you rather pay 2-4% per year back to the miners to reduce wealth centralization, prevent escalating transaction fees, stabalize trade value, and maintain the overall security of the network?

If your answer is "neither" then I'd love to hear some of your free solutions to the above problems. If you think Bitcoin (or any other crypto for that matter) is untouchable by centralized parties, then tell me right now what's stopping banks/governments from
lending out debased "bitcoin-backed" dollars at super low interest rates and calling it Legal Tender?

How much are you willing to pay to keep the greedy fatcats out of the cookie jar? I would love more than anything to see a "bullet-proof" crypto, but lets not fool ourselves into thinking that such security comes at no cost.