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

[Brent Allsop]

We are obviously spending LOTS of time and effort on this conversation.  Do
you find it worth while?  It feels to me like at best this infinite yes /
no /' yes / no, forever conversation is just a complete bleating noise
waste of time.  Think of all this kind of noise being made by billions of
people all over the world.  When for far less effort, some of this effort
could go into amplifying the moral wisdom of the world by ratcheting up and
building consensus around the leading moral theories, and filtering all the
lame ideas with no consensus, that so many people constantly bleat, out and
get stuck on.



            "Many things could disrupt that trend."



I don't by this at all.  Nothing could disrupt it, certainly not anything
you've said here.



            "We still don't know if Bitcoin will become widely accepted as
a currency, for example."



There is too many people that want some kind of crypto currency to work,
for obvious rational reasons, and the number of people in this camp is
growing.  There are just way too many good things about it, necessitating
this growth in popularity in some kind of crypto currency.



            "If you look at the sales of hula hoops in the 60s"



I can't believe you think Bitcoins is anything close to Hula Hoops.  They
are night and day different.  All things like Hula Hoops spike and pop just
once.  Finally, everyone learning from their mistake - never wanting to do
that again.  But Bitcoin had its spike 2 years ago, at around $30.  Then it
had its tulip bulb like crash, most everyone, and me, wrote it off as
having missed that boat.  But of course, 2 years later, it's spiking again,
at 10 time its previous spike value, continue the law like exponential
growth.  Nothing else has done that.  That is when I realized this was
something way more than Hula Hoops.  So, again, how many of these hula hoop
like spikes, each one at 10 time the previous value, will be required
before you accept that Bitcoins are way different?



In my opinion, you are making many mistakes in your thinking.  You should
try canonizing some of those ideas, to see how many of them are good ideas,
or how many of them are mistaken (i.e. nobody else agrees with them.)  I
find it really helps improve one's moral thinking abilities.  And it
amplifies everyone's wisdom, rather than just contributing to all the waste
everyone's time noise out there.






On Thu, Aug 8, 2013 at 1:38 PM, Gordon <gts_2000 at yahoo.com> wrote:

> Brent Allsop <brent.allsop at canonizer.com> wrote:
>
> > Still, I think you must admit, that there is a theoretical possobility,
> that the same bitcoin growth we've seen to date, could continue for the
> foreseeable future
>
> I certainly hope so! I have money riding on it!
>
> But I would not attribute a continuation of that growth to any "law". It
> is merely a trend. Many things could disrupt that trend. We still don't
> know if Bitcoin will become widely accepted as a currency, for example. If
> sentiment turns against that idea, the price trend will break down and
> bitcoin will likely fail. Bitcoin is perhaps one the most speculative
> investments on the planet.
>
> If you look at the sales of hula hoops in the 60s, you will probably see
> something like exponential growth. Was there a "Moore's Law of Hula Hoops"
> in place? If so, what happened to it? Hardly anyone buys hula hoops
> anymore, so I guess that "law" was only imaginary. I'm afraid the same is
> true of your supposed Law of Bitcoin. It's wishful thinking, Brent.
>
> Gordon
>
> On 8/6/2013 11:33 PM, Gordon wrote:
>
>  Sorry my last two posts appeared twice. It seems Brent has ExI listed
> twice on his to: line. I removed one entry this time.
>
>  So as not to waste this post, I might as well mention that I am having a
> good chuckle thinking about how some of my old investment clients might
> have reacted had I told them they should buy gold or bitcoin or anything
> else because the price action was driven by some "law".
>
>  "I think you should buy some Bitcoin here, Bob."
>
>  "Really, Gordon? Why?"
>
>  "It's going up in price according to the Law of Bitcoin! According to
> the Law of Bitcoin, you should make a lot of money!"
>
>  "What the hell is the Law of Bitcoin?"
>
>  "I read about the Law of Bitcoin on the Internet. The price went up a
> lot, so there must be a Law that it will go up a lot more."
>
>  "Very funny, Gordon. What is this, some kind of April Fool's joke?"
>
>  :)
>
> Gordon
>
>
>
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