Goldman Sachs Report Explores Use of Bitcoin as Currency

Post by wallace_f » Tue, Jan 16, 2018, 7:17 AM UTC

bobwaycott wrote: post #112

dsacco wrote: post #97

Earlier quoted context omitted.

It’s an abuse of definitional scope. The commenter is not arguing against a point that has not been made (that would be a strawman); instead, they’re arguing against the applicability of terminology in an argument that was made, but by using an incorrect or alternate definition for the terminology. In this specific instance, the commenter is using a non-standard definition of “intrinsic value” to argue that gold has…

As I stated in my other reply to you, I am very well aware “intrinsic value” is a specific economic term. I was speaking exactly to that term—what it means, what it implies—and disputing the logical sense of the term itself. You have twice now in your comments made a host of assumptions about my intentions and the coherence, relevance, and applicability of my statement. You’re ascribing an awful lot of impossible-to-…

Post by Kiro » Tue, Jan 16, 2018, 7:22 AM UTC

aaron-lebo wrote: post #43

gb123 wrote: post #41

Earlier quoted context omitted.

Raiblocks has potential to be a good currency, but like any other crypto when will people stop holding and start spending. https://github.com/clemahieu/raiblocks

No offense, but could you and the other people mentioning other chains in subthreads not do that? These threads just turn into ad pages and nobody has the ability to know what advice is valuable and what is just shilling. These claims have been made about every altcoin/feature since 2009. There's too much baseless hype. You guys want me to buy Raiblocks, Plasma, or Omise Go? Are you sure the devs know what they are d…

Post by bobwaycott » Tue, Jan 16, 2018, 7:42 AM UTC

wallace_f wrote: post #122

bobwaycott wrote: post #112

Earlier quoted context omitted.

As I stated in my other reply to you, I am very well aware “intrinsic value” is a specific economic term. I was speaking exactly to that term—what it means, what it implies—and disputing the logical sense of the term itself. You have twice now in your comments made a host of assumptions about my intentions and the coherence, relevance, and applicability of my statement. You’re ascribing an awful lot of impossible-to-…

The thing your argument is that no one is arguing about these philosophical ideas of intrinsic value. People are just saying: 'if people didn't use gold as money anymore because they lost faith in it, the gold would still be useful (ie as in jewlery, circuit boards, etc).' I mean I could do you one better with this type of argumentation and say 'your idea is wrong because all ideas are social constructs, so all are e…

Post by beaner » Tue, Jan 16, 2018, 7:51 AM UTC

paulmd wrote: post #118

beaner wrote: post #25

Earlier quoted context omitted.

It's true that some banking systems are improving in terms of speed. I don't think it's a coincidence that it's happening now that crypto has been around for 8 years, and is increasing in size. Most immediate US-based sends and receives are virtual, based on 2nd-layer systems like Venmo and PayPal, not actually moving money but updating the numbers in your account before funds land. Unfortunately for the Fed, speed a…

> Most immediate US-based sends and receives are virtual, based on 2nd-layer systems like Venmo and PayPal, not actually moving money but updating the numbers in your account before funds land. This is really only the case in the US. Most of the rest of the world can have bank transfers that are cleared in seconds, for free. The US is just way behind on this, it's a solved problem for Europeans.

Post by SkyMarshal » Tue, Jan 16, 2018, 8:02 AM UTC

marcusestes wrote: post #121

SkyMarshal wrote: post #106

Earlier quoted context omitted.

>We need to move on to something more modern like Ethereum, Stellar Lumens, etc. All other chains will face the same cost-of-scaling problem as Bitcoin as they grow. No one has yet developed a public consensus mechanism proven to provide the same security as PoW with the requisite order of magnitude higher scalability and lower costs. Unless some technological breakthroughs are made on that subject, they'll all hit t…

Ethereum has already surpassed Bitcoin’s transaction thoroughput and yet features significantly lower confirmation time and transaction cost.* Bitcoin core has made significant technical decisions that has hampered the project in these two areas. *Source: https://themerkle.com/bitcoin-vs-ethereum-transaction-throug...