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

[Gordon]

Brent Allsop <brent.allsop at canonizer.com> wrote:


> I want a term that would become at least as recognized and understood as the "Moores Law" term has become, in everyone's household and common conversations.  

> That is why I'm specifically asking if "Cyrpto Coin Law" is better, or is "Law of the Crypto Coin" more likely to catch on...

The word "law" implies a degree of certainty that simply does not exist in the financial markets, at least with respect to price trends. 

Bitcoin is not a phenomenon in the natural sciences, where the term "law" often seems appropriate. We can speak for example of a law that defines how objects accelerate as they fall toward the earth. But bitcoin's price action is not like on object falling through space. It is a phenomenon in economics, a branch of the social (not the natural) sciences. There is no economic or financial "law" that can tell us that Bitcoin will appreciate in value at any particular rate or range of rates. Your search for such a law is I think merely wishful thinking on your part.

There are of course some general principles of economics that might be called laws, for example the law of supply and demand, but in themselves such laws tell us nothing about which way the market will go for any particular commodity.


Gordon
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20130806/291a6d03/attachment-0001.html>