Topic: Bitcoin: SDR for the little guy. (Read 3819 times)

Quote from: billyjoeallen on July 06, 2011, 12:19:23 AM

Quote from: Synaptic on July 05, 2011, 11:50:19 PM

Quote from: billyjoeallen on July 05, 2011, 11:49:00 PM

Quote from: billyjoeallen on July 05, 2011, 11:32:17 PM

Quote from: DamienBlack on July 05, 2011, 11:20:29 PM

Quote from: Synaptic on July 06, 2011, 12:05:03 AM

Very briefly,

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

I understand language. I don't go by the definition you just found at Google.

Told you. Now he is hoping someone jumps on the "you don't use language the way it is defined?" argument, because that could go on forever and he'll get a kick out of it the whole way.

Actually I caren't. I've simply shown that people who rely on pithy internet searches to do all of their reasoning for them are inferior to people who reason based on fundamental understanding. That is the end of this particular argument.

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

This is getting amusing. Pithy is actually a compliment. You would have gotten more mileage out of the word "pedantic". You assessment never stood in the first place. Nobody who has the power to move the decimal has any incentive to actually do so.

Except it was sarcasm...

/s/pithy/s/ internet searches.

now quit being a pithant and post something relevant.

Those with the ability to move the decimal have no incentive to do so. The decimal won't move.

You see I have been posting something relevant, three times now actually- with no substantive response.

It will if the wet-dream of Bitcoin proponents, which is a bitcoin worth over $100, comes to fruition.

What makes you think so?

Ok, sweetie, I'll break it down for you:

If bitcoin reaches a steady $100/BTC, and people actually expect to use it as a transactional currency, then the nominal valuation of the exchange unit will need to be shifted over to facilitate trade comfortably.

It's just very psychologically irritating to be dealing with tenths of something in normal daily transactions.

"ALPACA SOCKS, ON SALE, ONLY .003 BTC"

It's inane.

It's no big deal all all. Besides, with Bit-pay and other merchant clients, you can make all your purchases and sales in dollar terms, using up-to-the-minute exchange rates automatically factored in.

The only thing psychologically irritating is discovering months after the fact that you spent a half a million dollars on a pizza.

DamienBlack

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Activity: 56

Merit: 1

Quote from: DamienBlack on July 05, 2011, 11:59:16 PM

Quote from: Synaptic on July 05, 2011, 11:29:58 PM

Quote from: DamienBlack on July 05, 2011, 11:25:34 PM

Quote from: benjamindees on July 06, 2011, 12:46:44 AM

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

Really? That is news to me. But I guess I'll take your work on it.

Read about it. Post your arguments how it's different.

Essentially, Bitcoin acts just as SDR does between currencies, just on a mundane scale.

So SDR was a decentralized, p2p, deflationary, pseudo-anonymous currency?

No, SDR is a supplementary foreign exchange reserve asset, which is the primary function of bitcoin today. A reserve asset.

All that other bullshit cruft is simply what gives BTC any credibility among its small number of users.

you know what else is a reserve asset? Gold. Gold is doing really well. So bitcoin will do really good.

Note: the previous statement was silly.

PS -- Guys, it is so easy to troll you on linguistics that I feel like doing it myself. Can we try to stay on topic.

Synaptic

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Activity: 84

Merit: 10

Quote from: Synaptic on July 05, 2011, 11:49:17 PM

"Decimate" is not a concrete word.

Furthermore, "reducing" the valuation of the primary unit of exchange by moving the decimal over is exactly correct.

Sorry, but no. "Decimatio" is a concrete word for which we have evidence of use by Plutarch, Suetonius, Tacitus and Livy at least. It refers to the practice in a Roman Legion of eliminating a tenth of the soldiers in a unit. Note that this is not the same as reducing something by ten, so even then your comparison fails.

Furthermore, the Bitcoin exchange rate floats freely. "Moving the decimal" of Bitcoin has no devaluation effect so I'm not even sure what you are arguing.

lol...

alright.

HAHAHA.

benjamindees

legendary

Activity: 1330

Merit: 1000

Quote from: Synaptic on July 05, 2011, 11:49:17 PM

"Decimate" is not a concrete word.

Furthermore, "reducing" the valuation of the primary unit of exchange by moving the decimal over is exactly correct.

Sorry, but no. "Decimatio" is a concrete word for which we have evidence of use by Plutarch, Suetonius, Tacitus and Livy at least. It refers to the practice in a Roman Legion of eliminating a tenth of the soldiers in a unit. Note that this is not the same as reducing something by ten, so even then your comparison fails.

Furthermore, the Bitcoin exchange rate floats freely. "Moving the decimal" of Bitcoin has no devaluation effect so I'm not even sure what you are arguing.

Synaptic

member

Activity: 84

Merit: 10

Quote from: asdf on July 06, 2011, 12:35:08 AM

Quote from: billyjoeallen on July 06, 2011, 12:19:23 AM

What makes you think so?

Ok, sweetie, I'll break it down for you:

If bitcoin reaches a steady $100/BTC, and people actually expect to use it as a transactional currency, then the nominal valuation of the exchange unit will need to be shifted over to facilitate trade comfortably.

no it won't.

It's just very psychologically irritating to be dealing with tenths of something in normal daily transactions.

"ALPACA SOCKS, ON SALE, ONLY .003 BTC"

It's inane.

Who cares. Your whole thread is inane. people will use BTC as they are currently denominated, just like Zimbabwe used 10,000,000,000 notes. It's not going to change just because of your quibbles. Get over it.

And moving the decimal place is not the same as inflation.

This whole forum's inane, that's why I fit in so well here.

asdf

hero member

Activity: 527

Merit: 500

Quote from: billyjoeallen on July 06, 2011, 12:19:23 AM

What makes you think so?

Ok, sweetie, I'll break it down for you:

If bitcoin reaches a steady $100/BTC, and people actually expect to use it as a transactional currency, then the nominal valuation of the exchange unit will need to be shifted over to facilitate trade comfortably.

Quote from: billyjoeallen on July 06, 2011, 12:19:23 AM

no it won't.

It's just very psychologically irritating to be dealing with tenths of something in normal daily transactions.

"ALPACA SOCKS, ON SALE, ONLY .003 BTC"

It's inane.

Who cares. Your whole thread is inane. people will use BTC as they are currently denominated, just like Zimbabwe used 10,000,000,000 notes. It's not going to change just because of your quibbles. Get over it.

And moving the decimal place is not the same as inflation.

Synaptic

member

Activity: 84

Merit: 10

Quote from: Synaptic on July 05, 2011, 11:50:19 PM

Quote from: billyjoeallen on July 05, 2011, 11:49:00 PM

Quote from: billyjoeallen on July 05, 2011, 11:32:17 PM

Quote from: DamienBlack on July 05, 2011, 11:20:29 PM

Quote from: Synaptic on July 05, 2011, 11:50:19 PM

Very briefly,

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

I understand language. I don't go by the definition you just found at Google.

Told you. Now he is hoping someone jumps on the "you don't use language the way it is defined?" argument, because that could go on forever and he'll get a kick out of it the whole way.

Actually I caren't. I've simply shown that people who rely on pithy internet searches to do all of their reasoning for them are inferior to people who reason based on fundamental understanding. That is the end of this particular argument.

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

This is getting amusing. Pithy is actually a compliment. You would have gotten more mileage out of the word "pedantic". You assessment never stood in the first place. Nobody who has the power to move the decimal has any incentive to actually do so.

Except it was sarcasm...

/s/pithy/s/ internet searches.

now quit being a pithant and post something relevant.

Those with the ability to move the decimal have no incentive to do so. The decimal won't move.

You see I have been posting something relevant, three times now actually- with no substantive response.

It will if the wet-dream of Bitcoin proponents, which is a bitcoin worth over $100, comes to fruition.

What makes you think so?

Ok, sweetie, I'll break it down for you:

If bitcoin reaches a steady $100/BTC, and people actually expect to use it as a transactional currency, then the nominal valuation of the exchange unit will need to be shifted over to facilitate trade comfortably.

It's just very psychologically irritating to be dealing with tenths of something in normal daily transactions.

"ALPACA SOCKS, ON SALE, ONLY .003 BTC"

It's inane.

billyjoeallen

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Activity: 1106

Merit: 1007

Hide your women

Quote from: billyjoeallen on July 05, 2011, 11:49:00 PM

Quote from: billyjoeallen on July 05, 2011, 11:32:17 PM

Quote from: DamienBlack on July 05, 2011, 11:20:29 PM

Quote from: DamienBlack on July 05, 2011, 11:59:16 PM

Very briefly,

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

I understand language. I don't go by the definition you just found at Google.

Told you. Now he is hoping someone jumps on the "you don't use language the way it is defined?" argument, because that could go on forever and he'll get a kick out of it the whole way.

Actually I caren't. I've simply shown that people who rely on pithy internet searches to do all of their reasoning for them are inferior to people who reason based on fundamental understanding. That is the end of this particular argument.

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

This is getting amusing. Pithy is actually a compliment. You would have gotten more mileage out of the word "pedantic". You assessment never stood in the first place. Nobody who has the power to move the decimal has any incentive to actually do so.

Except it was sarcasm...

/s/pithy/s/ internet searches.

now quit being a pithant and post something relevant.

Those with the ability to move the decimal have no incentive to do so. The decimal won't move.

You see I have been posting something relevant, three times now actually- with no substantive response.

It will if the wet-dream of Bitcoin proponents, which is a bitcoin worth over $100, comes to fruition.

What makes you think so?

Synaptic

member

Activity: 84

Merit: 10

Quote from: Synaptic on July 05, 2011, 11:29:58 PM

Quote from: DamienBlack on July 05, 2011, 11:25:34 PM

Quote from: Synaptic on July 05, 2011, 11:29:58 PM

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

Really? That is news to me. But I guess I'll take your work on it.

Read about it. Post your arguments how it's different.

Essentially, Bitcoin acts just as SDR does between currencies, just on a mundane scale.

So SDR was a decentralized, p2p, deflationary, pseudo-anonymous currency?

No, SDR is a supplementary foreign exchange reserve asset, which is the primary function of bitcoin today. A reserve asset.

All that other bullshit cruft is simply what gives BTC any credibility among its small number of users.

DamienBlack

jr. member

Activity: 56

Merit: 1

Quote from: DamienBlack on July 05, 2011, 11:25:34 PM

Quote from: billyjoeallen on July 05, 2011, 11:49:00 PM

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

Really? That is news to me. But I guess I'll take your work on it.

Read about it. Post your arguments how it's different.

Essentially, Bitcoin acts just as SDR does between currencies, just on a mundane scale.

So SDR was a decentralized, p2p, deflationary, pseudo-anonymous currency?

Synaptic

member

Activity: 84

Merit: 10

Quote from: billyjoeallen on July 05, 2011, 11:32:17 PM

Quote from: DamienBlack on July 05, 2011, 11:20:29 PM

Quote from: benjamindees on July 05, 2011, 11:40:41 PM

Very briefly,

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

I understand language. I don't go by the definition you just found at Google.

Told you. Now he is hoping someone jumps on the "you don't use language the way it is defined?" argument, because that could go on forever and he'll get a kick out of it the whole way.

Actually I caren't. I've simply shown that people who rely on pithy internet searches to do all of their reasoning for them are inferior to people who reason based on fundamental understanding. That is the end of this particular argument.

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

This is getting amusing. Pithy is actually a compliment. You would have gotten more mileage out of the word "pedantic". You assessment never stood in the first place. Nobody who has the power to move the decimal has any incentive to actually do so.

Except it was sarcasm...

/s/pithy/s/ internet searches.

now quit being a pithant and post something relevant.

Those with the ability to move the decimal have no incentive to do so. The decimal won't move.

You see I have been posting something relevant, three times now actually- with no substantive response.

It will if the wet-dream of Bitcoin proponents, which is a bitcoin worth over $100, comes to fruition.

Synaptic

member

Activity: 84

Merit: 10

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

"Decimate" is derived from the ordinal, "decimus", which means "tenth". Its meaning and original usage pertain to reducing the number of a thing, not increasing it. So your attempting to use "decimate" to mean "inflation" was exactly wrong and they were right to call you out on it.

The suffix -ate is contextually sensitive. "Decimate" is not a concrete word.

Furthermore, "reducing" the valuation of the primary unit of exchange by moving the decimal over is exactly correct.

billyjoeallen

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Activity: 1106

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Hide your women

Quote from: billyjoeallen on July 05, 2011, 11:32:17 PM

Quote from: DamienBlack on July 05, 2011, 11:20:29 PM

Very briefly,

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

I understand language. I don't go by the definition you just found at Google.

Told you. Now he is hoping someone jumps on the "you don't use language the way it is defined?" argument, because that could go on forever and he'll get a kick out of it the whole way.

Actually I caren't. I've simply shown that people who rely on pithy internet searches to do all of their reasoning for them are inferior to people who reason based on fundamental understanding. That is the end of this particular argument.

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

This is getting amusing. Pithy is actually a compliment. You would have gotten more mileage out of the word "pedantic". You assessment never stood in the first place. Nobody who has the power to move the decimal has any incentive to actually do so.

Except it was sarcasm...

/s/pithy/s/ internet searches.

now quit being a pithant and post something relevant.

Those with the ability to move the decimal have no incentive to do so. The decimal won't move.

You see I have been posting something relevant, three times now actually- with no substantive response.

benjamindees

legendary

Activity: 1330

Merit: 1000

Quote from: billyjoeallen on July 05, 2011, 11:32:17 PM

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

"Decimate" is derived from the ordinal, "decimus", which means "tenth". Its meaning and original usage pertain to reducing the number of a thing, not increasing it. So your attempting to use "decimate" to mean "inflation" was exactly wrong and they were right to call you out on it.

Synaptic

member

Activity: 84

Merit: 10

Quote from: DamienBlack on July 05, 2011, 11:20:29 PM

Very briefly,

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

I understand language. I don't go by the definition you just found at Google.

Told you. Now he is hoping someone jumps on the "you don't use language the way it is defined?" argument, because that could go on forever and he'll get a kick out of it the whole way.

Actually I caren't. I've simply shown that people who rely on pithy internet searches to do all of their reasoning for them are inferior to people who reason based on fundamental understanding. That is the end of this particular argument.

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

This is getting amusing. Pithy is actually a compliment. You would have gotten more mileage out of the word "pedantic". You assessment never stood in the first place. Nobody who has the power to move the decimal has any incentive to actually do so.

Except it was sarcasm...

/s/pithy/s/ internet searches.

now quit being a pithant and post something relevant.

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: DamienBlack on July 05, 2011, 11:20:29 PM

Quote from: DamienBlack on July 05, 2011, 11:25:34 PM

Very briefly,

decem- : by ten

-ate : to do, to make, to cause, or to act upon; to do something with

I understand language. I don't go by the definition you just found at Google.

Told you. Now he is hoping someone jumps on the "you don't use language the way it is defined?" argument, because that could go on forever and he'll get a kick out of it the whole way.

Actually I caren't. I've simply shown that people who rely on pithy internet searches to do all of their reasoning for them are inferior to people who reason based on fundamental understanding. That is the end of this particular argument.

Now as for Bitcoin being the poor man's SDR, my assessment still stands.

This is getting amusing. Pithy is actually a compliment. You would have gotten more mileage out of the word "pedantic". You assessment never stood in the first place. Nobody who has the power to move the decimal has any incentive to actually do so.

Synaptic

member

Activity: 84

Merit: 10