DogeCoin

[Roobar]

Behold! I peresent you

KEENCOIN!



You can mine keencoins in the Altairian star system and trade them later in a Galactic Trading Post.


Standard Galactic Trading Post

Current exchange rate:

1 blue KEENCOIN = $314
1 yellow KEENCOIN = $3.15

BUY KEENCOINS FROM HERE!

[Levellass]

But the bankers are exactly the people who are supposed to want to get Bitcoin down. Those people aren't stupid. Saying that humanity is stupid, and applying it to all members of that group, is an obvious overgeneralization.

Aaah but I'm not. I'm noting that humans have a definite tendency towards limited and short term thinking (stupidity) and that this means you often (but not always) cannot predict what will happen by treating humans as logical and informed. I would posit that *your* assertion that something can't be true because humans are all smart and logical is the overgeneralization.

And often stupidity can arise from the smartest of thinking; a lot of our economic woes arose from everyone doing what would be beneficial... if only a small group did it. Like the prisoner's dilemma humans looking out for themselves failed to see what would happen if everyone did it.

And so it may well be with bitcoin; bankers are probably quite smart in many areas, but they show definite stupidity in others, in general, as a group. (One of these areas I've noted is 'poor people are just lazy') If it emerged that they (or the government or big business, etc) had simply overlooked bitcoin then I would readily believe it. It's so easy to do so if you have a nice cozy theory to convince you. (Yes it's successful NOW, but it's a limited currency which Blahsian economics state will bubble, burst and fail, we can ignore it! Now, more tax breaks for the rich!)

The wording confuses me. Are you saying spying on everything they do isn't a big deal ("all America does...")? Or are you saying that's how far they're willing to go ("absolutely everything")? If the latter is the case: how does that help your argument?

I'm saying that 9 billion isn't that much to some people (As the old saying goes, 'A million isn't what it used to be') and also that even if you're doing nothing at all people are spying on you, so yeah, America has no privacy.

I warned that that would happen and everyone called me paranoid. Well who's paranoid now? (Probably me given how much people like to flaunt their personal secrets online.)

It is just as obvious that there's a limit to gold mining. Despite this fact, we still get to treat is as if it's infinitely expandable. Likewise with Bitcoin: the built-in limit will be hit some time in the future, nobody knows when, and we can ignore it for now.

No, no it's not! Did you listen to what I said? Our entire economic system is predicated on the idea that infinite growth is possible, that there are no limits. Stop thinking of people as farsighted and logical! Nobody, NOBODY out there is going 'Best get some gold before the inevitable limit is reached!' they're more worried about shorter term trends such as when a particular mine closes, other precious metal prices people's confidence in other currencies...

In fact the idea that some things ARE going to run out takes a long time to set in and has (as I mentioned, do try and actually listen this time) severe consequences. Several of the other precious metals such as rhodium look to be under severe pressure which has caused prices to skyrocket (Wait... wait no, rhodium at least is ok... for now: http://www.forbes.com/sites/kitconews/2 ... nd-market/ but holy crud look at how volatile it is!)

Helium is shockingly limited and will also run out in the near future... still selling it for party balloons though! (Because it's not run out yet, which means it must be infinite!)

But bitcoin shoves that limit in your face, it forces people to act logically and that doesn't always end well. (At least in our current illogical economy.)

If anything, a lack of a limit would cause people to take it less seriously. "What value does my money have if I know that quantum computing will one day make sure everyone has infinite money?"

Well that assumes two things, firstly that quantum computing is inevitable (At the least it's a gamble as much as that of the end of scarcity making ALL money worthless), that there would be no way to control the currency if that happened. (If QC does happen then all cryptocurrencies could be instantly mined all at once, wouldn't that throw a spanner in the works?)

Indeed that may be the weakness of cyptocurrencies; imagine a whole economy brought down because Apple released the first portable quantum computer. Wouldn't be the first time something like that has happened.