Viewing profile — ramontayag

To hold, yes you're right. I suspect you're thinking of the storage of value use-case? It is a way to transfer value. I'm from the Philippines and I'm seeing increasing usage in re…

It's actually useful in places that don't have great financial access. I'm guessing your estimate of "very few people" is from a place that has good access?

I think it is solving some man-in-the-street problems for people who aren't in countries with good financial systems.

I see. Thanks for clarifying!

Trust in it to do/be what?

Even if miners could change the rules and print more, do you think the users would continue to use it?

I understand - I'm not aware of an asset class like bitcoin and the other cryptocurrencies, so I have to go with opinion and extrapolation for a lot of the thinking. :) It sounds l…

BenoitEssiambre, what are your thoughts on http://woobull.com/bitcoin-volatility-will-match-major-fiat-... ?

Yes, it may feel volatile, but how volatile is it compared to other currencies? For example, my country's currency fell 10% in the last three months. Intrinsic value discussion asi…

By "effects of deflation", are you referring to the claimed ill-effects of deflation, that will grind the economy to a halt? If so, mind helping me understand why I can't disregard…

I didn't bring it up because I suspect that we'll eventually find a scaling solution, whether it be sidechains, tree chains, riding on Moore's law, multiple cryptocurrencies connec…

This is certainly interesting. Could the same principle be applied to gold which has been fairly stable? I don't think gold is the right medium for the singularity because it is no…

The interesting part for me is the more people speculate, the higher the price becomes, and the higher the price becomes, the more useful it is in the institutional level because t…

Thank you! I knew I was just lacking in Google-fu when searching for other articles that expressed this idea I had been forming in my mind.

Thanks for the link. I'm not sure where in the article I said inflation is worse than deflation. I don't feel I know enough about economics to express an opinion about this. What I…

That would be interesting!

Yes, I certainly can't say I'm an economics expert. Mind sharing with me what part of the article you think is misguided?

If I read this comment right, I agree with you. People will use inflationary currencies more because they aren't as good as a store of value.

Yes, you're right to bring up confirmation times and community. I didn't include that on purpose in order to focus on the good vs bad money part. My hunch is the scaling issues wil…

I did send the article to my old economics professor so he can tell me where I misunderstand things, but I haven't gotten a reply yet. ️

If I understand this right, I don't think I necessarily disagree with you. My question is: if people can choose one or the other to spend, what do you think they'll choose? A curre…

I certainly may well be confused. I don't have an economics degree and just find the field fascinating. One reason I put it here is that there are many bright people not seemingly …

No, I don't think you misunderstood - I may have just not clear. Yes, it's the case now where people prefer to spend their deflationary USD, but I think it's primarily because many…

Apologies! I wasn't planning to terrify people ;) kidding aside, I think it'll a while before we get there, so there is a lot of time.