Remember when they said Bitcoin was the people's way of challenging the bankers?

originally posted by: Revolution9
That means the MACHINE will calculate everything and humans will respond to its financial dictates and will have no recourse to counter its financial decision making. What a horror story of sublime digital institutionalization!

What's so bad about that? I'd trust an algorithm over a potentially greedy human's opinion any day of the week.

originally posted by: Krazysh0t

originally posted by: Revolution9
That means the MACHINE will calculate everything and humans will respond to its financial dictates and will have no recourse to counter its financial decision making. What a horror story of sublime digital institutionalization!

What's so bad about that? I'd trust an algorithm over a potentially greedy human's opinion any day of the week.

The problem is that potentially greedy human will have access to the Algorithm. Open source or not, their is always a potential.

However, cant be worse than now. Except it could if we reach a point of no more physical currency and they decide to lock you out.

originally posted by: interupt42
a reply to: Revolution9

If you like your bitcoin , you can keep your bitcoin.

It is not me liking it. Read all that I have written. I am chanting it down, lol.

a reply to: interupt42

I'm almost positive that a gold backed currency would be worse than what we have now considering how many people exist in the world and how little gold we have on the planet (and even less we've actually mined).

originally posted by: Krazysh0t

originally posted by: Revolution9
That means the MACHINE will calculate everything and humans will respond to its financial dictates and will have no recourse to counter its financial decision making. What a horror story of sublime digital institutionalization!

What's so bad about that? I'd trust an algorithm over a potentially greedy human's opinion any day of the week.

Let's hope you don't come to regret those words!

It is not a world I want to belong to, but you are happy for me then to be alienated and cast out if I flat out refuse to belong to it?

See what I mean about how it is easy for even kind liberal people to be ruthless. I am hoping you would not encourage such a thing that would alienate me to the point where I could no longer participate? As it is I can hardly participate.

Do you not realize how ruthless Liberalism can be and this new age? It pretends its a lamb when it is really a wolf in a fleece.

Be careful not to let ideology turn you into someone who could outlaw and utterly impoverish millions because they think something is not such a bad idea.

originally posted by: Revolution9

originally posted by: Krazysh0t

originally posted by: Revolution9
That means the MACHINE will calculate everything and humans will respond to its financial dictates and will have no recourse to counter its financial decision making. What a horror story of sublime digital institutionalization!

What's so bad about that? I'd trust an algorithm over a potentially greedy human's opinion any day of the week.

Let's hope you don't come to regret those words!

Why would I come to regret them? Give me something beyond a weak appeal to emotion fallacy. I feel like you've watched one too many Terminator movies.

It is not a world I want to belong to, but you are happy for me then to be alienated and cast out if I flat out refuse to belong to it?

Why not? And also, what is with that silly question about what I want to do to you? Are you not capable of talking to people without baselessly slandering them or something? Because this question was just straight up rude when all I did was ask you a question.

See what I mean about how it is easy for even kind liberal people to be ruthless. I am hoping you would not encourage such a thing that would alienate me to the point where I could no longer participate? As it is I can hardly participate.

I see you are capable of assuming random strawmen about people then tearing them down instead of actually discussing the things the person is saying.

Do you not realize how ruthless Liberalism can be and this new age? It pretends its a lamb when it is really a wolf in a fleece.

Be careful not to let ideology turn you into someone who could outlaw and utterly impoverish millions because they think something is not such a bad idea.

All I'm realizing here is that you are SUPER paranoid and appear to be basing your opinions on emotions and no real logical reasoning. Mostly because you haven't provided anything outside of, "Well you are stupid liberal who hates me!"

originally posted by: Krazysh0t
I'm almost positive that a gold backed currency would be worse than what we have now considering how many people exist in the world and how little gold we have on the planet (and even less we've actually mined).

It wouldn't even be remotely possible. The best you could hope for is a currency tied to commodities.

Gold is a problem ....the original miners guess on grand canyon prospecting in three little areas there was 6 times the known existing tonnage....that was back when so there's coverup for Gold....talk of the new setup has a mix of commodities....not just Gold

Veritaseum is a truth platform that has taken off in the stock market in Jamaica....to be the control system for peer to peer with no middle man ....making the middleman scooping a percentage a thing of the past....cause it can be seen by all in realtime......

Litecoin may outrun bits.....but food and Land is tops.....

a reply to: AugustusMasonicus

I feel like that wouldn't work either since commodity levels fluctuate so wildly depending on all sorts of things that effect production and development. A manufacturing setback like the periodic droughts that California experiences could potentially crash the economy by squeezing the supply of its agricultural exports.

Ever watch Trading Spaces? Dan Aykroyd and Eddie Murphy bankrupt the rich brothers through commodity speculation (oranges) and they did that with insider trading. With commodity fixed to the currency, that could bankrupt people on a whim and 100% legally.

We may not like the fiat currency we have now, and it certainly isn't perfect, but it's better than currency linked to gold or even commodities. That just squeezes the currency supply and creates more poor people. The wealth gap may be bigger than ever these days, but biggest difference between now and the last time that happened is that the poorer income brackets aren't living in squalid tenements with substandard living.

originally posted by: Krazysh0t
a reply to: interupt42

I'm almost positive that a gold backed currency would be worse than what we have now considering how many people exist in the world and how little gold we have on the planet (and even less we've actually mined).

Didn't just mean gold, but cash as well.
Today if you don't trust the banks or the gov't you can cash out and still survive. Tomorrow on a all electronic currency they can instantly shut you down and keep track of you (easier anyways).

a reply to: Krazysh0t


That is why it would need to be a broad array of commodities. One or several may decrease but others can go up. The larger the array the more stable it is theoretically.

a reply to: interupt42

Ever heard of a VISA gift card? Drug dealers use them all the time.

originally posted by: AugustusMasonicus
a reply to: Krazysh0t


That is why it would need to be a broad array of commodities. One or several may decrease but others can go up. The larger the array the more stable it is theoretically.

Now we are starting to increase in complexity. You'll need an algorithm to balance the gains and losses from day to day. In the end, how would that be different from a cryptocurrency? I will give you that the biggest benefit I see out of doing something like that, is that it would remove currency gatekeeping from the miners' possession and distribute it as more of a crowdsourcing thing. So I do like that idea. I just can't see how it would be implemented outside of an algorithm and that is what the OP is so scared of, right?

I have a neighbor who bought into Bitcoin with $1,500 USDs... when the value was under $2,000.oo...

Jerry said he will cash in when the Bitcoin hits $10.k... I hope he does not back down on his 'Sell' price,
because he's a retired Vet with health issues like myself...

take the relatively big pay-out my friend
Yes, Bitcoin may reach $20-50-100 Grand in some indefinite future ~ because It Is NOW a pure speculation object like the old-world Tulip-Mania Phrenzy !

originally posted by: Krazysh0t

Now we are starting to increase in complexity. You'll need an algorithm to balance the gains and losses from day to day. In the end, how would that be different from a cryptocurrency? I will give you that the biggest benefit I see out of doing something like that, is that it would remove currency gatekeeping from the miners' possession and distribute it as more of a crowdsourcing thing. So I do like that idea. I just can't see how it would be implemented outside of an algorithm and that is what the OP is so scared of, right?

I'm sure you would need an algorithm, just relying on simple mathematics wont cut it. But if the formula is open and unable to be manipulated without strong oversight I don't really have an issue with it.

To me it's better than perpetually selling ourselves T-Bills so we can print more money.

Please can I state that I have no insider knowledge of anything what so ever. I don't even belong to any Church, just a personal thing going with Christ and the universe and you guys, too. I do not want to deceive you that I am somehow in the know. There are things I will communicate as time goes by. It's great to write like this. I like it better than real life now. Being with you guys is a comfort. I do not feel so lonely among such good questioning souls in these very dark times. I am very big on America and Americans as anyone who has read my stuff knows by now.

Respect! God bless America. I can say that and mean it.

a reply to: AugustusMasonicus

Yeah. We do need to figure out a new system. We just shouldn't be going back to one we've already used and discarded.

originally posted by: Krazysh0t
a reply to: interupt42

Ever heard of a VISA gift card? Drug dealers use them all the time.

for the time being , they are treated as cash. Once we go full e money that might change.

a reply to: interupt42

Well, anything is subject to change. Though I'm sure that no system will ever be perfect so as the saying goes, "Where there is a will, there is a way." And people are endlessly intuitive with making money on the sly. So no matter what system we ultimately adopt, there will be a way to make, spend, and save your money off the record.

originally posted by: Krazysh0t
Yeah. We do need to figure out a new system. We just shouldn't be going back to one we've already used and discarded.

We've never had a currency backed by a basket of commodities.