📅 Original date posted:2014-04-30
📝 Original message:Perhaps I missed it somewhere, but I don't recall it ever being a goal of Bitcoin to act as a stable long-term store of value.
- Jameson
On 04/30/2014 01:06 PM, Troy Benjegerdes wrote:
> On Wed, Apr 30, 2014 at 11:00:06PM +1000, Gareth Williams wrote:
>> On 30/04/14 00:13, Mike Hearn wrote:
>>> I do think we need to move beyond this idea of Bitcoin being some kind
>>> of elegant embodiment of natural mathematical law. It just ain't so.
>>
>> I haven't seen anybody arguing that it is.
>>
>> Bitcoin is the elegant embodiment of /artificially contrived/
>> mathematical rules, which just so happen to be very useful in their
>> current configuration :-P
>>
>> Nobody is saying those rules are immutable. Just that it isn't sensible
>> to undermine them by introducing imprecise and unpredictable elements
>> like human politics.
>
> As an end-user of Bitcoin, the whole possible value of a set of mathematical
> rules has become completely trashed by the imprecise and unpredictable behavior
> of buyers and sellers.
>
> If the rules are not responsive to real human needs, bitcoin is worthless
> as a long-term store of value because **my idea of value** changes over time.
> This implies, in my mind, an absolutely requirement to attempt to gather
> some useful signal from the human political noise.
>
> How do you determine what that signal is, so you can **change the rules**
> and the mathematics so it makes more sense?
>
> You've got to deal with politics, one way or another.
>
>
Jameson Lopp [ARCHIVE] /
npub1gh…akqmn
2023-06-07 15:19:42
in reply to nevent1q…t7s6
Author Public Key
npub1ghgfr3aumwuxwnwghywxpaejxpf6k9pjcnyg9lfdnztlu5pwa0ksyakqmnPublished at
2023-06-07 15:19:42Event JSON
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"content": "📅 Original date posted:2014-04-30\n📝 Original message:Perhaps I missed it somewhere, but I don't recall it ever being a goal of Bitcoin to act as a stable long-term store of value.\n\n- Jameson\n\nOn 04/30/2014 01:06 PM, Troy Benjegerdes wrote:\n\u003e On Wed, Apr 30, 2014 at 11:00:06PM +1000, Gareth Williams wrote:\n\u003e\u003e On 30/04/14 00:13, Mike Hearn wrote:\n\u003e\u003e\u003e I do think we need to move beyond this idea of Bitcoin being some kind\n\u003e\u003e\u003e of elegant embodiment of natural mathematical law. It just ain't so. \n\u003e\u003e\n\u003e\u003e I haven't seen anybody arguing that it is.\n\u003e\u003e\n\u003e\u003e Bitcoin is the elegant embodiment of /artificially contrived/\n\u003e\u003e mathematical rules, which just so happen to be very useful in their\n\u003e\u003e current configuration :-P\n\u003e\u003e\n\u003e\u003e Nobody is saying those rules are immutable. Just that it isn't sensible\n\u003e\u003e to undermine them by introducing imprecise and unpredictable elements\n\u003e\u003e like human politics.\n\u003e \n\u003e As an end-user of Bitcoin, the whole possible value of a set of mathematical\n\u003e rules has become completely trashed by the imprecise and unpredictable behavior\n\u003e of buyers and sellers.\n\u003e \n\u003e If the rules are not responsive to real human needs, bitcoin is worthless\n\u003e as a long-term store of value because **my idea of value** changes over time.\n\u003e This implies, in my mind, an absolutely requirement to attempt to gather \n\u003e some useful signal from the human political noise.\n\u003e \n\u003e How do you determine what that signal is, so you can **change the rules**\n\u003e and the mathematics so it makes more sense?\n\u003e \n\u003e You've got to deal with politics, one way or another.\n\u003e \n\u003e",
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