@ejpbruel @slightlylate Bitcoin isn't a Ponzi:
- isn't orchestrated
- doesn't pay old invst w/ new $
- doesn't require ascending investment
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Replying to @csuwildcat
@csuwildcat@ejpbruel : it absolutely paid old investors with new $, that's the natural effect of the asymptotic mining1 reply 0 retweets 0 likes -
Replying to @slightlylate
@slightlylate@ejpbruel lol, no, no it isn't. Buy that definition, all commodity mining is Ponzi, and that's ludicrous.2 replies 0 retweets 0 likes -
Replying to @csuwildcat
@slightlylate@ejpbruel miners don't pay an asset mngr to reinvest, they buy equipment to process transactions and earns money for doing so.1 reply 0 retweets 0 likes -
Replying to @csuwildcat
@slightlylate@ejpbruel imagine if Visa allowed 3rd party to place CC machines in businesses that processed transactions for them, for a fee1 reply 0 retweets 0 likes -
Replying to @csuwildcat
@slightlylate@ejpbruel it's not really mining at all - miners are transaction processors, and operate on fees, regardless of block rewards.3 replies 0 retweets 0 likes -
Replying to @csuwildcat
@csuwildcat@ejpbruel : intermediation doesn't change the essential character of the bubbly ecosystem or the role of mining a fixed quantity1 reply 0 retweets 0 likes -
Replying to @slightlylate
@slightlylate@ejpbruel you repetitively misunderstand: volatile corrections and market-moving speculation are not essential elements...2 replies 0 retweets 0 likes -
Replying to @csuwildcat
@csuwildcat : of a system with a fixed resource base, non substitution, and large incentives to early participants? *GO ON*...@ejpbruel1 reply 0 retweets 0 likes -
Replying to @slightlylate
@slightlylate@ejpbruel it's fixed on purpose (so is gold), you can sub (sidechains), and early incentives are *by design* to bootstrap it.2 replies 0 retweets 0 likes
@csuwildcat @ejpbruel : are you telling me that it can't be bubbleicious because it was *designed that way*?
Truly the world has no suckers
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Replying to @slightlylate
@slightlylate@ejpbruel *incentives* are design, volatility is a temp condition based on present scale. You know why currency is 'stable'?0 replies 0 retweets 0 likesThanks. Twitter will use this to make your timeline better. UndoUndo
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