Matches for from:ThickAsThieves, 44781 total results Sorted by newest | relevance
Tue Oct 07 16:04:50 UTC 2014 <thickasthieves> by closed loop i mean getting people to transact in bitcoin and not convert to fiat
Tue Oct 07 16:04:30 UTC 2014 <thickasthieves> i'm not sure we mean the same thing
Tue Oct 07 16:02:05 UTC 2014 <thickasthieves> generally i subscribe to the belief that all extremes and ideals are only achievable for a moment at best, and that a robust/sustainable approach to theory and design is better
Tue Oct 07 15:59:42 UTC 2014 <thickasthieves> i'm just thinking out loud here, waiting for someont to bring me to earth
Tue Oct 07 15:59:10 UTC 2014 <thickasthieves> closing the loop is probably an anti-goal because changing the value of bitcoin dramatically would also change the costs of goods dramatically
Tue Oct 07 15:58:12 UTC 2014 <thickasthieves> which is not totally possible, but probably the natural point bitcoin trends towards
Tue Oct 07 15:57:38 UTC 2014 <thickasthieves> this is also why you get guys talking about "closing the loop"
Tue Oct 07 15:56:19 UTC 2014 <thickasthieves> bitcoin is backed by bagholders, so if you wanna be able to transact AND cash out large amounts, you need large price
Tue Oct 07 15:55:46 UTC 2014 <thickasthieves> re remittance, that is one aspect where price (more specifically, market cap) matters
Tue Oct 07 15:55:20 UTC 2014 <thickasthieves> the function is that bitcoin is designed to be antifragile, so each of it's properties work to correct and balance the others
Tue Oct 07 15:42:26 UTC 2014 <thickasthieves> i think...
Tue Oct 07 15:42:22 UTC 2014 <thickasthieves> price isnt a force, it is a measurement
Tue Oct 07 15:41:29 UTC 2014 <thickasthieves> mining is more likely to affect price than the reverse imo
Tue Oct 07 15:41:06 UTC 2014 <thickasthieves> the problem i have with the point is it acts like price is a driver of anything but speculation
Tue Oct 07 15:40:26 UTC 2014 <thickasthieves> but you only get one chance
Tue Oct 07 15:40:17 UTC 2014 <thickasthieves> it invites all attacks
Tue Oct 07 15:40:13 UTC 2014 <thickasthieves> bitcoin doesnt care
Tue Oct 07 15:39:08 UTC 2014 <thickasthieves> also keep in mind that mining costs as reported by reddit etc, are just a snapshot of what can be seen, there have been private operations implementing their own chips for a while now
Tue Oct 07 15:38:05 UTC 2014 <thickasthieves> itd be impossible to know the plans and behavior of major mining outfits and their coins and costs
Tue Oct 07 15:37:28 UTC 2014 <thickasthieves> dbolser while price and mining have a relationship, it is not in sync necessarily