I understand perfectly well that BitCoin has defined scarcity in it's protocol. That part isn't lost on me. The thing I'm trying to get you to explain is just how scarcity seems to be the only measure of a currencies worth (hint: it isn't). That's the part that you aren't getting and it's not an argument of semantics, given that it's a rather large part of economics.

The part your not getting is that it should be at least a part about rarity and scarceness, but it's not AT ALL (when referring to USD) so u can't say "just" when referencing USD currency value, as it holds no actual scarceness, and is controlled by humans that gain interest off printing and putting our country in further debt.

This post was edited by LulzSec on Mar 10 2014 01:17pm

No, I get that which is why I pointed it out. Another thing that I now understand is that trying to discuss something with a true believer will get nowhere fast.

why joining this discussion is a bad idea

Ron Paul evangelical using the us vs. them argument, which may as well be a false dilemma, I have already explained why you can utilize both and often people do when speculating. To try and explain why Bitcoin, something backed by nothing but social proof and a powerful network of miners is comparable than the USD which is backed by the full force of the strongest state on the planet coupled with a global economy, is kind of silly but I see the usefulness in both types and consider them both to be legitimate. The people here do not know libertarian economics but I have read all their “top” thinkers—(e.g., Rothbard, Mises, Hayek, et al.)—meaning I have a good understanding of how you people think, considering I've held similar positions myself.

Bitcoin ideologues are normally retarded, they display it on forums like this, and people simply laugh at them. I have seen people much like yourself since '09 and it seems to be getting worse.



It is not going to happen, Bitcoin is its own system, but it is not a replacement of the USD. It can compliment it, it may even be implemented in a more expandable fiat form rather than holding a static supply but it will not replace fiat currency. You are thinking in a black and white way, there are uses for deflationary Bitcion-esque currencies, as well, many more for inflationary fiat types. Since you're probably scared of a system based on credit, debt, and a dynamic supply, you can live in your Bitcoin fantasy world and never take advantage of what USD offers. The fact that most monetary value in Bitcoin is derived from its relation to actual money and most people use it purely to speculate, is pretty paradoxical to your own narrow-minded beliefs.

Again, if you need help understanding the protocol, maybe you want to meet up in Vegas and have lunch with Mitnick bought and paid for with Bitcoin, let me know. I don't have time for noobs!

Telling people they don't understand a system, meanwhile making obvious mistakes, strawmanning, and ignoring criticism isn't a good way to get your message out. In fact it a good sign your a nutter.

You're*

aka: "If you were not so ignorant, you would all agree with me!". Nice....