Re: Bitcoin-development Digest, Vol 49, Issue 16

Re: Bitcoin-development Digest, Vol 49, Issue 16


  
From: Ron @ 2015-06-03  5:50 UTC (permalink / raw)
  To: bitcoin-development

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      Subject: Bitcoin-development Digest, Vol 49, Issue 16
     1. Re: Proposed alternatives to the 20MB step (Eric Voskuil)
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Message: 1
Date: Mon, 01 Jun 2015 17:09:10 -0700
From: Eric Voskuil <eric@voskuil•org>
Subject: Re: [Bitcoin-development] Proposed alternatives to the 20MB
    step
To: Mike Hearn <mike@plan99•net>, J?r?me Legoupil
    <jjlegoupil@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Message-ID: <556CF426.3030204@voskuil•org>
Content-Type: text/plain; charset="iso-8859-1"

On 06/01/2015 08:55 AM, Mike Hearn wrote:
>> Decentralization is the core of Bitcoin's security model and thus
that's what gives Bitcoin its value.
> No. Usage is what gives Bitcoin value.

Nonsense.

Visa, Dollar, Euro, Yuan, Peso have usage.

The value in Bitcoin is *despite* it's far lesser usage.

Yes, the price is a function of demand, but demand is a function of
utility. Despite orders of magnitude less usage than state currencies,
Bitcoin has utility. This premium *only* exists due to its lack of
centralized control. I would not work full time, or at all, on Bitcoin
if it was not for decentralization; nor would I hold any of it. I doubt
anyone would show an interest in Bitcoin if it was not decentralized. If
it centralized even you would be forced to find something else to do,
because Bitcoin "usage" would drop to zero.

> It's kind of maddening that I have to point this out. Decentralisation
is a means to an end.

No, it was/is the primary objective.
...
e
________________________________________________________I agree Eric, but I would add that demand is more a function of one's  lack of faith in one's government and its fiat currency.  The value of Bitcoin is 
its independence and constancy.  Its value doesn't change, only the worth 
or worthlessness of corrupt states and their currencies that it's compared 
to / exchanged with.  I hesitate to say money since money is supposed to 
be a store of value over time.
Ron




  

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