Pragmatic Capitalism

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Is it time to buy bitcoin ??

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Posted by FUЯ ION
Posted on 12/29/2016 8:47 AM
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Bitcoin is stupid. It’s an unregulated form of money. That’s practically an oxymoron. You can’t have decentralized money. One of the key components of “money” is that you can reliably take people to court when you want to get paid for something that someone else refused to pay you for. Credit is money is and credit is based on trust. You can’t and won’t ever have a fully decentralized form of money that is reliable and widely used in the economy.

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Cullen Roche Posted by Cullen Roche
Answered on 12/30/2016 6:12 PM
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    “You can’t and won’t ever have a fully decentralized form of money that is reliable and widely used in the economy”

    That’s a bold prediction. I’m betting you will probably be wrong. With bitcoin, however, you are probably right as it has too many limitations (primarily the low/slow transaction processing level). We, however, have finally cracked the next gen version to be released this year. I pinged you the details for it about a year ago and it’s now finally ready for release into the wild.

    I would welcome a perusal from the educated team here with regards to our economic model (supply/demand management) once that is undergoing testing in February. I’ll reach out once we have a beta if anyone is interested.

    Current timeline for this year:

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    Posted by Shawn Keehn
    Answered on 01/08/2017 12:14 PM
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      I expect Cullen’s famous last words to go down in history just as Bill Gates did! ?

      It’s not that big of a leap to have decentralized money (medium of exchange) just as long as the legal system adapts to deal with it. Got to keep in mind Gresham’s Law… if FRN’s become “bad money”, there’s very little the government can do about it. People will only keep the minimum around just to pay taxes with.

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      Posted by MachineGhost
      Answered on 01/16/2017 3:28 PM
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