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_Vimothy_'s profile
Vimothy
Vimothy
Vimothy
@_Vimothy_

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Vimothy

@_Vimothy_

Joined May 2013

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    1. inhumane kantian‏ @cyborg_nomade 12 Dec 2017

      okay, a little thread on cryptomarkets and what I think is going on:

      1 reply 4 retweets 11 likes
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    2. inhumane kantian‏ @cyborg_nomade 12 Dec 2017

      first, on Bitcoin's alleged "bubble": there aren't currency bubbles. it simply makes no sense. a currency "bubble" is another currency's hyperinflation.

      3 replies 2 retweets 12 likes
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    3. inhumane kantian‏ @cyborg_nomade 12 Dec 2017

      of course, Bitcoin's price denominated in USD has "gone parabolic" and might vary wildly.

      1 reply 1 retweet 2 likes
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    4. inhumane kantian‏ @cyborg_nomade 12 Dec 2017

      but these "boom and bust" cycles are unlikely to be similar to previous economic bubbles, simply because Bitcoin has a real function irrespective of demand: it's a really good currency.

      2 replies 1 retweet 4 likes
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    5. Alice Maz‏ @alicemazzy 12 Dec 2017
      Replying to @cyborg_nomade

      but it's a really bad currency

      3 replies 0 retweets 7 likes
    6. Vimothy‏ @_Vimothy_ 14 Dec 2017
      Replying to @alicemazzy @cyborg_nomade

      It's not really a currency in the sense of the official money of a state, unit of account, means if final settlement for debts and taxes, etc. Eg the dollar is a currency, but your deposit account, denominated In dollars, although money in the broader sense, is not.

      2 replies 0 retweets 0 likes
      Vimothy‏ @_Vimothy_ 14 Dec 2017
      Replying to @_Vimothy_ @alicemazzy @cyborg_nomade

      Bitcoin could potentially function as money in the broader sense, but is unlikely to for the reasons you mention (transaction costs, etc).

      1:26 AM - 14 Dec 2017
      0 replies 0 retweets 0 likes

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