On Wed, Dec 18, 2013 at 10:09 PM, Quentin Anciaux <[email protected]> wrote: > > > > 2013/12/18 LizR <[email protected]> >> >> On 19 December 2013 08:01, Quentin Anciaux <[email protected]> wrote: >>> >>> 2013/12/18 Bruno Marchal <[email protected]> >>>> >>>> On 18 Dec 2013, at 09:47, Quentin Anciaux wrote: >>>>> >>>>> Depends on the problem you're considering, I think it can lead to a >>>>> society with more individual freedoms, for example. >>>> >>>> >>>> I don't think it can... can you give argument how bitcoin would achieve >>>> that ? >>>> >>>> >>>> Bitcoin was not deflationist at the start, >>> >>> >>> Yes it was and is... the number of bitcoins are finite and fixed over >>> time... There will be at most 21 millions bitcoins in circulation for >>> ever... a lost bitcoin is lost *forever*... >>> >> I don't know much about bitcoins. Why are they limited to 21 million, > > > By design. > >> >> and if one is lost, why can't it be recreated? >> > > Because a bitcoin cannot be recreated as the number is fixed. So if you lose > your wallet (erase it), then the bitcoins in it are lost forever... > > Also as the bitcoins are limited (and over time some are and will be lost), > they can only deflate, and as the goods and services are not limited the > same way, this encourage hoarding. I can't see a benefit in that... but the > most unfair thing is that the first 5 millions bitcoins were easy and cheap > to mine... rendering the first in the system potentially billionaires > without having created *any* wealth... it's a con currency, not a currency. > The only people who will benefit from it (if some crazy thing happen in the > world and the thing is adopted) are the early adopters.
> Plus the way the > blockchain work, it cannot scale well and just for that it is doubtful > bitcoin could see a large adoption. This is often repeated but not true. The blockchain can be truncated and old transaction discarded. The solution is described in the original paper, section 7: http://bitcoin.org/bitcoin.pdf Telmo. > > Quentin > >> >> -- >> You received this message because you are subscribed to the Google Groups >> "Everything List" group. >> To unsubscribe from this group and stop receiving emails from it, send an >> email to [email protected]. >> To post to this group, send email to [email protected]. >> Visit this group at http://groups.google.com/group/everything-list. >> For more options, visit https://groups.google.com/groups/opt_out. > > > > > -- > All those moments will be lost in time, like tears in rain. (Roy > Batty/Rutger Hauer) > > -- > You received this message because you are subscribed to the Google Groups > "Everything List" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To post to this group, send email to [email protected]. > Visit this group at http://groups.google.com/group/everything-list. > For more options, visit https://groups.google.com/groups/opt_out. -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/everything-list. For more options, visit https://groups.google.com/groups/opt_out.
