I'm not taking sides, here as I think Micon has over reached and has failed to back up his claims other than speculation, although he may well be correct that the risk is nowhere near sustainable. Other than having some coin invested with pay.bc, I'm pretty agnostic about the issue (other than some points I made upstream).
That being said, what's the timeline on your bet? As far as I can tell, it's just a bet that says it won't fail. Are you saying it won't fail in X amount of time, or that it won't ever fail? If it doesn't ever fail, will you be keeping your money in until it closes down for other reasons? Otherwise, it seems like your money will be stuck forever.
Or, is this more of a rhetorical point?
what do you mean when you say things like "If it doesnt ever fail "
it absolutely has to fail if you look at the numbers
if it keeps going on like this in less than 2 years all the bitcoins in existence will have been paid out in interest alone INCLUDING the ones that havent been mined yet
double any number every 3 months and see how fast you get to 22 million and you will soon understand why its impossible
350,000 now
700,000 in 3 months
1,400,000 in 6 months
2,800,000 in 9 months
5,200,000 in 12 months
10,400,000 in 15 months
20,800,000 in 18 months
41,600,000 in 21 months
83,200,000 in 24 months .....
There is a limited amount of H2O on Earth, but it ALWAYS going to rain without drastic environmental changes. Imagine that, limited supply of water can provide almost unlimited amount of precipitation with the right conditions.
In regards to bitcoins, they cannot and won't compound indefinitely, someone putting in 10k at some point will take out profits to enjoy them or put into something else, these bitcoins at some point will end up on exchanges, someone else will buy them and some of em' will again end up in BTCST, same with other coins.
Assuming pirate's operation legit - this can go on indefinitely while he meets demand and causing short supply on exchanges which increases bitcoin price.
