http://evoorhees.blogspot.com/2012/04/bitcoin-libertarian-introduction.html
An excellent article on this topic.
Topic: Is bitcoin Ideal money? - page 2. (Read 3296 times)
Speaking philosophically ideal depends on each persons views. So each person sees its own ideal money. To me ideal money is something that can't get lost or stolen, i should know which amount of it I have right now. And speaking it terms of economics this money should not devaluate.
It's not just about money. The bitcoin protocol is a decentralised ledger. It can be used for 'smart contracts' and all sorts of things that requires trust (read Lawyers). Money is just the first app of the block chain, like email was for the internet.
Money has evolved through human barter..
Man or Women 1 - has 10 carrots
Man or Women 2 - has 5 potatoes
Man or Women 3 - has 20 bananas
Man or Women 4 - has 2 pineapples
1 would like a potato, how many carrots for one potato ? 2 give me 2 carrots and i'll give you a potato
. 3 would like a pineapple, 4 give me 7 bananas for 1 Pineapple ...
This is barter .. trading .. and a fair trade is healthy for everyone ... 1and2 can have carrots and potatoes for there lunch.. who knows they might sit down and have lunch together .. smile, laugh and learn a thing or too... if they cook lunch for 2 and 4 they might ever get some pineapple and banana cake for desert...
Maybe not ideal but some day it will be some things should be fixed and some regulation more surely to make people more trusting
some things should be fixed and some regulation more surely to make people more trusting what would be a difference between heavily regulated bitcoin and "regular" money-NONE.
I mean that it is confused if one day some department let you use bitcoin with no problems but later there are some problems. It can costs less trust.
Should be great in the future that you can go shopping with bitcoins or other coins on your creditcard. Maybe one day... you never know.
I have pulled out certain quotes so as to highlight the true esoteric meaning of both ideal money and bitcoin. http://sites.stat.psu.edu/~babu/nash/money.pdf
Hear it from Nash/Satoshi themselves...
Think about bitcoin when you read it, and please read the whole thing (above) and pass it to someone with greater effect than I, it took 40 years to recognize this man the first time
This is the same man that wrote to the nsa in 1950 saying on the topic of encryption he cannot lose. the same man that created the theory from which we develop game theory and therefore war strategy. The man that explained the value of money in his paper 'the bargaining problem' and now the man that explained the value of hyper currency in his papers ideal money and bitcoin:
Hear it from Nash/Satoshi themselves...
Think about bitcoin when you read it, and please read the whole thing (above) and pass it to someone with greater effect than I, it took 40 years to recognize this man the first time
Quote
So I wish to present the argument that various interested and groups, notably including "Keynesian"economist, have sold to the public a "quasi-doctrine" which teaches, in effect, that "less is more" or that (in other words) "bad money is better than good Money". Here we can remember the classic ancient economics saying called "Gresham's law" which was "the bad money drives out the good". The saying of Gresham's is mostly of interest here because it illustrates the "old" or "classical"concept of "bad money" and this can be contrasted with more resent attitudes which have been very much influenced by the Keynesians and by the results of their influence on government policies since the 30s.
And such views can have the effect that an ideal of good money does not seem such a good cause as an ideal of a good pulic water supply
Our view is that if it is viewed scientifically and rationally that money should have the function of a standard of measurement and thus that it should become comparable to the watt or the hour or a degree of temperature.
It was the observation of a new "line" that has become popular with those responsible of "central banking" functions relation to national currencies that gave us the idea for the study of "asymptotically ideal" money.
In the USA the standard domestic "cost of living" index has a long history and it actually originated back in the days when the USA was still on the "gold standard" with regard to the monetary standards being accepted then.
In the near future there may be a smaller number of major currencies used in the world...And there could be introduced, for example, a similar international currency...
And if "inflation targeting" were used as a "line" ..each of the currencies managed thusly would have its officially recognized status in terms of inflation as measured by the domestic index of costs of the state of the managers.
And so the various currencies managed with "inflation targeting" would be comparable by users or observers who would be able to form opinions about the quality of the currencies.
So here is the possibility of "asymptotically ideal money" Starting with the idea of value stabilization in relation to a domestic price index associated with the territory of one state, beyond that there is the natural and logical concept of internationally based value comparisons.
..It is sometimes remarkable how political context can evolve.
And this parallel makes it seem not implausible that a process of political evolution might lead to the expectation on the part of citizens in the "great democracies" that they should be better situated to be able to understand whatever will be the monetary policies which, indeed are typically of great importance to citizens who may have alternative options for where to place their "savings".
And such views can have the effect that an ideal of good money does not seem such a good cause as an ideal of a good pulic water supply
Our view is that if it is viewed scientifically and rationally that money should have the function of a standard of measurement and thus that it should become comparable to the watt or the hour or a degree of temperature.
It was the observation of a new "line" that has become popular with those responsible of "central banking" functions relation to national currencies that gave us the idea for the study of "asymptotically ideal" money.
In the USA the standard domestic "cost of living" index has a long history and it actually originated back in the days when the USA was still on the "gold standard" with regard to the monetary standards being accepted then.
In the near future there may be a smaller number of major currencies used in the world...And there could be introduced, for example, a similar international currency...
And if "inflation targeting" were used as a "line" ..each of the currencies managed thusly would have its officially recognized status in terms of inflation as measured by the domestic index of costs of the state of the managers.
And so the various currencies managed with "inflation targeting" would be comparable by users or observers who would be able to form opinions about the quality of the currencies.
So here is the possibility of "asymptotically ideal money" Starting with the idea of value stabilization in relation to a domestic price index associated with the territory of one state, beyond that there is the natural and logical concept of internationally based value comparisons.
..It is sometimes remarkable how political context can evolve.
And this parallel makes it seem not implausible that a process of political evolution might lead to the expectation on the part of citizens in the "great democracies" that they should be better situated to be able to understand whatever will be the monetary policies which, indeed are typically of great importance to citizens who may have alternative options for where to place their "savings".
This is the same man that wrote to the nsa in 1950 saying on the topic of encryption he cannot lose. the same man that created the theory from which we develop game theory and therefore war strategy. The man that explained the value of money in his paper 'the bargaining problem' and now the man that explained the value of hyper currency in his papers ideal money and bitcoin:
It's only an alternative for now.
Maybe not ideal but some day it will be some things should be fixed and some regulation more surely to make people more trusting
some things should be fixed and some regulation more surely to make people more trusting what would be a difference between heavily regulated bitcoin and "regular" money-NONE.
Maybe not ideal but some day it will be some things should be fixed and some regulation more surely to make people more trusting
some things should be fixed and some regulation more surely to make people more trusting Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money.
It not money for anybody,
These are just speculations and lies, bitcoin no have real value.
If no value, then why engage? The fact that you are here and debating bitcoin makes you a walking, talking oxymoron.
I am forex trader, and I not have any bitcoins, just real cache.
I believe bitcoin is an ideal currency structure, which is must better than the one we currently have. There's no inflation, and it's completely de-centralized. What's needed though is more merchant's to take it, which you think they would, since they wouldn't have to pay the transactions costs of such financial institutions like Visa and Mastercard at 3 to 4% and American Express, which can be at 7 to 8%. So yes, in theory it could solve a lot of problems and solve a lot of money from merchants willing to accept bitcoin. However, there's no restriction and no security involved. You'd think that a new system that regulates the currency and provides you the ability to use some of the major security services that Visa and Master Card use like their dispute charge service's; could actually end up being a good business plan.
I keep seeing these pictures of actual coins all over the Internet that make it look like you can exchange a coin like cash. I have yet to ever see one of these in real life, but I think that would be an ideal plus if bitcoin was able to link their monetary system to some kind of fiat currency of course decentralized though.
I hope that bitcoin takes off, since I have purchase multiple coins at around the $480.00 range. I am new, but I used my knowledge of other financial markets to believe that this was a good time to buy after the big $1130 a coin dip the currency traded after Mt. Gox.
I'm also seeing big exchanges like Mt Gox, and recently LocalBitCoins.com go down, which could be the form of some manipulation to devalue the currency. Bitcoins aren't easy to obtain, and most people obtained them on localbitcoins.com, so it only makes sense that their value would go down after the site went down because there was no supply to rule the demand and instability that the supply would be able to offer a secure service to do that in the future.
All in all, I think it's an ideal currency, but I don't think we're going to see any big pay days here that soon. For me personally, I bought in at around $460.00, and I'm hoping it will go up. As bit coins get easier to use, their more easily acceptable, I think they will become more and more of not just an ideal currency but a practical currency.
Thanx Everyone
Sprz
I keep seeing these pictures of actual coins all over the Internet that make it look like you can exchange a coin like cash. I have yet to ever see one of these in real life, but I think that would be an ideal plus if bitcoin was able to link their monetary system to some kind of fiat currency of course decentralized though.
I hope that bitcoin takes off, since I have purchase multiple coins at around the $480.00 range. I am new, but I used my knowledge of other financial markets to believe that this was a good time to buy after the big $1130 a coin dip the currency traded after Mt. Gox.
I'm also seeing big exchanges like Mt Gox, and recently LocalBitCoins.com go down, which could be the form of some manipulation to devalue the currency. Bitcoins aren't easy to obtain, and most people obtained them on localbitcoins.com, so it only makes sense that their value would go down after the site went down because there was no supply to rule the demand and instability that the supply would be able to offer a secure service to do that in the future.
All in all, I think it's an ideal currency, but I don't think we're going to see any big pay days here that soon. For me personally, I bought in at around $460.00, and I'm hoping it will go up. As bit coins get easier to use, their more easily acceptable, I think they will become more and more of not just an ideal currency but a practical currency.
Thanx Everyone
Sprz
Nice way to sum it up. +1
Nice work...
Bitcoin is the best we have now, although I believe it could be better.
What the free market decides later is a different story.
Bitcoin is the best we have now, although I believe it could be better.
What the free market decides later is a different story.
It's not just about money. The bitcoin protocol is a decentralised ledger. It can be used for 'smart contracts' and all sorts of things that requires trust (read Lawyers). Money is just the first app of the block chain, like email was for the internet.
i think bitcoin is money. is it ideal money? yes it is more ideal money than usd or eur. why ? no inflation, no bank, min fee, can us btc in china and send to brazil. the bad image that btc comes from blackmarket where u can buy drugs so it is dirty money. thats bullshit! usd is more used buying drugs, weapons, war ... than with btc. in propotion too!
but btc is not the most ideal money. the best way to use money is not a global currency, but more single local currency. single currency is good for real demokratie, economy, politic, dominion distripution,....
so in my opinion btc is the future.
no one knows who exectly the developer is. Why?
but btc is not the most ideal money. the best way to use money is not a global currency, but more single local currency. single currency is good for real demokratie, economy, politic, dominion distripution,....
so in my opinion btc is the future.
no one knows who exectly the developer is. Why?
Bitcoin is great money for online payments but it still has many flaws that need to be fixed
But for 24h his value can easily be, $200, $100 or Zero.
Not TODAY ... mass movment don't react like this.
Since mars 2014, the 1/3 of bitcoin is use for trading, 1/3 for early adopter and the 1/3 for beginner and "father of familly" strategy (school, retraitment).
Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money.
It not money for anybody,
These are just speculations and lies, bitcoin no have real value.
Based on what I have been reading online, there is a $ value for a BTC. What are these speculations and lies? Sounds like you have a bad experience with Bitcoin? Just guessing though.
contrary, I have very good experience with Bitcoin,
On the forex've earned huge amount of money, thanks to the large oscillations in the price.
I only understood at the time, What is Bitcoin, and after it was all easy.
Good thing to know that you earned a lot of money in Bitcoin.
Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money.
It not money for anybody,
These are just speculations and lies, bitcoin no have real value.
Based on what I have been reading online, there is a $ value for a BTC. What are these speculations and lies? Sounds like you have a bad experience with Bitcoin? Just guessing though.
contrary, I have very good experience with Bitcoin,
On the forex've earned huge amount of money, thanks to the large oscillations in the price.
I only understood at the time, What is Bitcoin, and after it was all easy.
Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money.
It not money for anybody,
These are just speculations and lies, bitcoin no have real value.
Based on what I have been reading online, there is a $ value for a BTC. What are these speculations and lies? Sounds like you have a bad experience with Bitcoin? Just guessing though.
Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money.
It not money for anybody,
These are just speculations and lies, bitcoin no have real value.
If no value, then why engage? The fact that you are here and debating bitcoin makes you a walking, talking oxymoron.
I am forex trader, and I not have any bitcoins, just real cache.
Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money.
It not money for anybody,
These are just speculations and lies, bitcoin no have real value.
Bitcoins value may rise or fall. But i don't accept it has no value. Right now bitcoin has a value of $430.
currently,
But for 24h his value can easily be, $200, $100 or Zero,
While with the real money is not the case.
With bitcoin you can not pay;
House,cars, VW,BMW,Mercedes,Ferari,cigarettes,milk,bread,gasoline, taxes, electricity, water bills,taxi.
Bitcoin does not serve for nothing, while my credit card is accepted everywhere in the world,
and I can buy everything.
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