but as you illucidate with wampum, money can't just succeed it must cannibalize or it's usage declines asymptotically.
Bitcoin as money has already succeeded. It is being used every hour of every day as money, and has been now for several years.https://twitter.com/roysebag/status/813442224985899008 …
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The subsequent growth or decline has nothing to do with how it originated, it has to do with demand for it as money.
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It's truly zero sum IMO and why I believe the great challenge to academic debate is how a non-natural element ascends as money
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time to re-write all your ECO Books , Bitcoin is Pandora's box. A new breed all in its own. can't debate off old info
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"Experiments don't get $120B in value transferred through them." -
@SDWouters#Bitcoin#Blockchain#Success@NickSzabo4@roysebagpic.twitter.com/jJBDb9Pyp5
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@bobbyclee But it is failing as a payment network at scale. It can't scale without consensus and there is no consensus. -
it is NOT failing as a payment network. I pay with bitcoin via
@BitPay@BitcoinPayApp &@Airbitz daily. -
try living at
@theDlasvegas Bitcoin payments work here every day&night -
they are too slow to work as a payment network Vendors can't wait ten minutes for payment A change to the core protocol is needed
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I have never waited 10 min for a Bitcoin payment using
@BitPay or@BitcoinPayApp they are both INSTANT. Stop the lies & FUD - 4 more replies
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@roysebag I guess Roy refers to regression theorem of Mises and Bitcoin would be first counter example.https://mises.org/blog/regression-theorem-and-bitcoin … -
Regression theorem is important but its not why precious metals ascended as money. It explains other pheonomena
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what allowed bitcoin beyond any other experiment to succeed and ascend is its utility beyond just money as global hashing rights
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it's shocking this even has to be pointed out
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Satoshi himself on the subject! https://bitcointalk.org/index.php?topic=583.msg11405#msg11405 …
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@joshcrumb what do you think about Satoshi's lack of understanding of basic elements? -
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@roysebag@Th3Acist @Liberty8691@NicolasDorier@NickSzabo4 I discussed in Slack. Satoshi misses time preference(ultimate quality of money)pic.twitter.com/P8jhc93UrA
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