Topic: Why Eve Online's economist thinks bitcoin could be a scam (Read 1954 times)

Hahaha... I read the code too!!!! Only to "compare" LTC with BTC... I was curious what "changes" they made to create a different coin

Later I compared LTC to DOGE and DOGE to PANDA

long story short... THERE ARE A TON OF CHANGES there!!!

So if anyone ever makes a "new coin" you can bet they've read the code! 

I wonder if we can "read EVE'S" code?  How many of their monetary units exist?  How transparent is their "inflation model" .. ?

What if they realize that their game is getting less and less traction, and so the "economists" decide to cash out while they can!?!?

some context
1. the bitcoin inventor has not wrote any code for 3 years. so you do not have to trust him. instead Gavin Andressen is very publicly known and approachable and he would be the person to contact in regards to bitcoin code.

2. although i explained Eve's theory flaw about trust in regards to bitcoin inventors secrecy being a problem in point 1. we have to realise that EVE online's economist cannot speak to the inventor of FIAT.. as he is dead due to old age. so why trust FIAT if he cant speak to the FIAT inventor?

3. the code is publicly viewable and due to the fact that 100,000's of people use it, and 10's of thousands of businesses have coded and recoded their services to be bitcoin implemented shows the code works and is not a closed system that cannot convert to FIAT.

4. there are not just 1, but hundreds of people that have actually read the code. they do this to make some of the exchanges you see today, explorers, wallet software. and also just geeks who love to read code. so do not think that only gavin A is the only one that knows what is contained in the code.

5. some altcoins like asiacoin have no other purpose thus the amount of people who actually read the code is minimal. although i am shocked that some of the small exchanges that added asiacoin did no checks and simply added it, it was also one of these service providers that wanted to make a explorer for asiacoin that found the hidden code exploit. which proves that outsiders do actually check source code, even on useless coins which have no collection of other services.

why does no one understand that?  it's really that simple.

oh look some one else who doesn't understand bitcoin who is skeptical of bitcoin

I had no idea there is EVE online economy specialist.

Ironically bitcoin would probably work well with online games, especially mmo.

His answers seemed to indicate that he is a Keynesian who does not understand the concept of not printing limitless money.

This is great for video game companies that want to print as much money as they want and benefit from it.

I recall when I first found out about Second Life a Linden dollar was equal to about fifty cents (or 2 Linden dollars to 1 USD)...how much are they worth now with the ability to print as many as they want?

The same news cycle...
Much of the BTC news has turned positive the last 10 to 15 days.
Either it's a "false positive" or things will be getting very exciting by this summer.

Exactly.

The same news cycle about Bitcoin repeats each time as well, and there's an entirely new generation of people who get get caught up in it because they don't bother to study (recent!) history.

N00bs gonna n00b, I guess.

The code is open source - no need to take the security professions on trust

Think he does not really understand how distributed trust works

where was any value promised by anyone to anyone.....?

Yes, Asiacoin. Not bitcoin as if in that coin which is currently peaking global interest from large firms and individuals alike.

In 2011, the exchange rate dropped 90% and Bitcoin is still here. In 2013, the exchange rate dropped 60% and Bitcoin is still here. Recently, the exchange rate has dropped about 60% and Bitcoin is still going strong.

I don't think Bitcoin really gives a crap about the exchange rate.

That is possible.  But unlikely because the community should be checking this
I use electrum and you've just inspired me to compile it myself,
verify, and bring any discrepancies to the attention of the community.

Open source projects rely on an active community.  Smart people understand this.

And really, the bitcoin community is extremely bright.
I thought I was pretty smart but there are some intellectual giants among us.
 

and then they have no coins.  Problem solved.

While I can't see how anyone could be calling Bitcoin a "scam", the fact is that Satoshi's premine does exist and now we have the feds with their own massive hoard taken from the SR bust. It cannot be ignored that either one of these groups could cause some serious disruptions to the exchange rate depending on if/when/how they cash out.

Let's put this in perspective. This guy is a central banker, just for an online game.

His job is just as likely to be disrupted as anybody else's, because a friction-free digital cash that even interacts in the "real world" invalidates pretty much all he does for Eve Online.

All little knowledge I have is very conceptual. Technically I just can't understand BTC technology has nothing to do with my degree (Law).
Yes I'm talking only on my behalf, BUT as adoption grows there will be more people like me and less people capable of checking lines of code.

Therefore it was no FUD at all I was only talking about myself.

in which way does this series of posts from 2011 proof that there is no backdoor in the compiled multibit or electrum wallet most people download without asking? what about using your brain before shouting "fud"?

 

Nope. No one has bothered in the past 6 years to look at the code. We all just blindly trust Satoshi.

Do a little research before you post FUD. I wonder if anyone figures anything out for themselves anymore.
https://bitcointalksearch.org/topic/satoshi-client-operation-overview-41718

And it doesn't matter.

Bitcoin is bigger than the Bitcoin Foundation, so your conspiracy theories, even if true, have little weight.

Yes, it can. It can also be changed by a trained monkey. But only the users can decide to use the new code.

In particular, most core developers have nothing to do with the Foundation.

So if someone (person/organization) only bought bitcoins at an exchange, this is evidence that the price is manipulated? I guess what you call "manipulation" is what I call "market forces".

And even if there's a grand conspiracy by some people other than those who created Bitcoin... So? Conspiracies only last so long, long-term the value of bitcoins will depend mostly on fundamentals, and this has little impact on Bitcoin's merits.

You are correct.

In practice most people don't review the code themselves so they place some trust in people who do, but if some egregious change is made it will be well known and cause resistance.


I'll be happy to see CCP condone Bitcoin (e.g. selling ETC for BTC, at least through an official reseller), and I hope next time Dr. Gudmundsson talks with someone about Bitcoin, it will be one who can explain Bitcoin's bigger vision.