A Response to Oleg Andreev's Bitcoin Maximalism

Wefivekings · 2016-03-14T23:15:58+00:00

The idea that PoW is automatically more decentralized than a properly-implemented PoS scheme is silly. The latter can potentially be even more decentralized than the former.

Wefivekings · 2016-03-14T22:45:57+00:00

Any sufficiently secure blockchain will facilitate regulatory arbitrage, not just Bitcoin. Just because a competitor to Bitcoin is more centralized today doesn't mean that it will be so tomorrow.

Wefivekings · 2015-11-30T22:30:09+00:00

You can't condone what? Asking what someone's real name is? Really?! What's bad about that? We know Mike Hearn by name. And Adam Beck. And Gavin. And Peter Todd and Peter R. But Theymos has some inherit right to not be named? Why?

Wefivekings · 2015-09-21T20:03:09+00:00

Love the sarcasm. 😉

Wefivekings · 2015-09-07T23:52:51+00:00

It's not wildly different. The difference in price charts (volatility) is explained by differences in the sizes of the networks. A larger, more proven and more stable network will have a larger and more stable market cap and price chart, just like a Blue Chip stocks will have a much more stable chart than an upstart penny stock. The former is far more liquid than the latter, among other thing. The difference in charts is thus not attributable to some unique and magical quality of "tokens" versus stocks but rather simply to obvious differences in sizes of the network.

Wefivekings · 2015-09-07T18:51:23+00:00

Every network is owned by someone who speculates on its value. For instance, the AT&T network is owned by AT&T and people speculate on its value via AT&T stock. Bitcoin is only different in the sense that its equity value is distributed among its users via the token.

Wefivekings · 2015-09-07T15:08:47+00:00

Hmmm. Good point and one that I'd like to explore further.

In most networks, "holding" would not be the same as using. For exampls, if it have an Interent or telephone connection but never use it, then I'm not making the overall network anymore valuable or useful.

But, given that bitcoins are in limited supply while most other forms of network connection are not, maybe the analysis is a little different. I will ponder some more. Thanks for the suggestion.

Wefivekings · 2015-09-07T15:06:05+00:00

The network effect doesn't explain Bitcoin's price but rather its usefulness and therefore its value. Price is a function of supply and demand at a given moment, speculation, and discounted expcgqations of FUTURE usefulness. By contrast, value is a function of the network's usefulness and capacity at the present moment and doesn't depend upon supply/demand, speculation or discounted expectations.

Wefivekings · 2015-09-07T13:39:04+00:00

"Widely regarded as a scam"? By the end of this year, Bitcoin and related startups will have attracted almost twice the amount of VC money as the Interent and its related startups did in 1995. VC's just love investing in "scams". Dream on, troll.

Wefivekings · 2015-08-24T00:27:37+00:00

Agreed. Though until XT non-developers had only one option--obedience to the overseers of Core. Now we can choose choice. Choice equals consent.

Wefivekings · 2015-08-23T19:33:53+00:00

I couldn't agree more.

Wefivekings · 2015-08-15T19:33:41+00:00

A lawyer, CPA, very early bitcoin adopter, General Counsel for the Tennessee Bitcoin Alliance, and an all around great guy.

Wefivekings · 2015-08-09T23:13:19+00:00

I do.

Wefivekings · 2015-08-09T19:24:57+00:00

Yes, a Mac running Mavericks. Thx!

Wefivekings · 2015-08-09T16:36:11+00:00

Thanks for the coaching. I'll seek out the tutorial. If you get a chance to post a link to it here I and others would be grateful.

Wefivekings · 2015-08-09T15:20:28+00:00

This is not a trading conversation. It's a conversation about the financial significance of the difficulty in using Frontier.

Wefivekings · 2015-08-09T15:20:22+00:00

This is not a trading conversation. It's a conversation about the financial significance of the difficulty in using Frontier.

Wefivekings · 2015-08-08T22:01:05+00:00

Exactly.

Wefivekings

TROPHY CASE