[ExI] "Crypto Coin Law" vs "Law of the Crypto Coin"?

[Brent Allsop]

Hi Gordon,

You are going to far, taking our interest in, respect and valuing of 
your different point of view as more than you should.  We aren't 
"reconsidering the use of the word 'law'", at least you haven't 
converted me or anyone else to your still lonely camp yet.  As far as I 
know, you are the only one that thinks this way, and even you aren't in 
this camp as definitively as those willing to stand up and do the work 
to support and build the "law" camp. If there are others, besides you, 
especially if they have enough commitment to their camp to do the work 
to 'canonize' it, that would be more evidence that it is a worth while camp.

I agree with you, that the supply of Bitcoins is a mathematical 
certainty, and that the demand for Bitcoins isn't this certain. But, in 
our POV, even this side is worthy of the word "law", more so than things 
like "Moore's law" and such.    It isn't an absolute certainty, that 
water will flow downhill (like when people build dams), but you can bet 
an awful lot on the fact that it will, and when, just like you can bet 
on the fact that capital will flow to where it will earn the greatest ROI.

What do you think about the certainty of economic growth?  Do you think 
this is as reliable as something like "Moore's law" and/or "Kurzweil's 
law of accelerating returns"?  If you think economic growth is deserving 
of the term 'law', then is it not, then, a mathematical certainty that, 
if the economy grows exponentially, then the demand for any limited 
currency in that economy must accelerate, exponentially?  Also remember, 
this prediction is about whatever is the leading crypto currency, not 
just Bitcoin.

Anyone else out there in Gordon's camp?  Any other camp out there,with 
enough supporters willing to help amplify the wisdom of the crowd and 
help accelerate us toward the singularity in ways other than just making 
noise?

Brent Allsop


On 8/5/2013 11:27 AM, Gordon wrote:
>
> Brent Allsop <brent.allsop at canonizer.com> wrote:
>
> >Also, many of you have expressed your opinion about how there is no law
> >around Bitcoin Valuations, so I'd also very much like to hear your
> >opinion!!  If you don't like the term 'law', what would be a better name
> >for the best consensus camp?
>
> Good for you for reconsidering the use of the word "law". Aside from 
> the law of supply and demand, I see no law that should predict or 
> guide the price of bitcoin. We can (perhaps) make some reasonable 
> predictions about future supply, but predictions about future demand 
> are mostly guesswork.
>
> Instead of a "law" that predicts the price of bitcoin, consider the 
> conventional term "trend". We all hope the long term uptrend 
> continues, but it's only a trend.
>
> Gordon

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