Post
Topic
Board Speculation
Re: sidechains discussion
by
cypherdoc
on 31/12/2014, 17:23:08 UTC
Quote
as for Daniel's video, you're late, as i already posted about their podcast and commented on it 5d ago here:  
https://bitcointalk.org/index.php?topic=68655.msg9945975#msg9945975

I posted the article http://bitcoinist.net/the-two-ideologies-in-bitcoin/ which came before the podcast and covers more topics & is clearer IMO.

Actually not even.  The podcast is on a completely different topic: a response to Vitalik Buterin's bitcoin maximalism assertion (its pretty funny everyone is too polite to accuse Vitalik of ether maximalism given the percentage of the premine he owns).  

I encourage you (or others) to read David Krawisz article http://bitcoinist.net/the-two-ideologies-in-bitcoin/ he is quite knowledgeable about economics and able to reason.  He draws a conclusion that is a little different to what most are assuming: that it is investors that drive bitcoins price & network effect, and transactional usage follows; rather than the assumption many make that it is the usage that drives intrinsic value & network effect.  I am not sure about that - maybe its a bit of both, but its an interesting and well reasoned argument, that is somewhat reassuring - we're not fully beholden to the success of people like bitpay trying to integrate merchants and the success of those merchants in having people pay in bitcoin etc. if Krawisz is to some extent right.

Adam

sorry, posted the wrong link. and yes, you're still late.  this is the right one:  
https://bitcointalk.org/index.php?topic=68655.msg9840830#msg9840830

btw, Daniel and i do think alike in many regards which is why i post his pieces here on this thread regularly.  and he's right, speculation aka investment/SOV the collective efforts of speculators/merchants/users/devs/miners is what has driven Bitcoin to where it is today. i am living evidence of this of the investment side.  and i invested b/c of Bitcoins Money Function, not it's potential to be a trading platform for speculative assets.  which is why any proposals to change the current rules have the burden to prove to all of us that there shall be no screw ups or invalid assumptions.  esp those economic when coming from a bunch of coders.