@bascule It sounded like he was saying bitcoin supply, unlike USD, is predictable and hyperinflation in fiat isn't unusual.
-
-
-
@stevedekorte he changed the subject. The VC guy sitting next to them acknowledged the validity of Bitcoin's volatility -
@bascule ...anyone saying "that can't happen here" needs a more convincing argument than "well, it hasn't happened in a while" -
@stevedekorte well, in the case of Bitcoin it happened a few days ago, heh -
@bascule when the USD has had 6000% yearly deflation, we can compare apples -
@stevedekorte I think the fact this isn't an apples to apples comparison is the point. 6000% deflation benefits hoarders not spenders -
@bascule You use those terms as if they are asymmetric, but every "spender" is a "hoarder" of whatever asset they buy. -
@bascule More to the point, prices are a product of demand and supply flow, so "hoarding" doesn't reduce the amount of usable resources. - 4 more replies
New conversation -
-
-
@bascule The dollar has no "anchor" for intrinsic value. Bitcoin does. That hasn't stopped its price from fluctuating wildly. -
@eachus Bitcoin only has value so long as its cryptography and game theoretic aspects provide security. There will be attacks. Trust me. -
@bascule I understand that too. I was only speaking of the economics. Economic value = cost of mining + distribution (= 0) + small margin.
End of conversation
New conversation -
-
-
@bascule ... Price gets disconnected from value. The intrinsic VALUE of a Bitcoin is very different from its current market price.Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
@bascule Not QUITE true. The VALUE isn't as predictable. Price and value are not the same. That's the problem with irrational markets.Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
@bascule@kangelova I'd laugh, but I'm ok with the idea of those two losing all their hand-me-down wealth in a bitcoin crash. Have at, kids! -
@bascule@kangelova Also, I assume interviewing people in slouch-inducing egg-shaped chairs cause them to lower their guard and spout stupid
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.