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RE: Can Bitcoin Scale on Today's Computers? Do We Need 2nd Layer Solutions to Compete with VISA?

in #cryptocurrency • 6 years ago

Yes, that's the video. It makes my point (for anyone who has the most basic knowledge of Keynes' theories). I thought this was obvious.

If it wasn't: Mr. Song is conflating currency debasement as a means to spur spending (Keynes) with currency being useful in commerce.

Roger has (to my knowledge) never supported "forcing" people to spend. He just wants people to have that option.

A crypto with only SOV and no MOE is not going to work. People will just move their funds to cryptos that have both qualities.

6 years ago in #cryptocurrency by
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     6 years ago  

    Again, Cashies seem to have trouble isolating important concepts.

    In the video, Jimmy immediately defines why he is posting it:

    Roger Ver says that everyone should use Bitcoin as a means of exchange, or else it is worthless

    (In the same point, talking about Roger Ver)

    You need to use it, even if you don't want to because it helps the economy - just like central governments do

    This is precisely what he's talking about - Roger espouses this notion that you NEED to spend, or else it isn't worth anything.

    That is a KEYNESIAN strategy -- centered around spending to boost economic growth.

    But again, I'm arguing with a Cashie that doesn't care what Roger says, as long as it aligns with the view that Bitcoin is "bad" and your alt-fork is somehow the answer.

    It isn't, and from every metric I can see -- a majority agree with me.

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     6 years ago  

    Roger espouses this notion that you NEED to spend, or else it isn't worth anything.

    No. He espouses the notion that you need to be able to spend. At least that is my take on his opinion.

    Once again, network effect in a vacuum has no value.