[ExI] Fwd: Re: [mta] Re: Bitcion Moore's Law?

[Gordon]

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


>>OK, great!  Finally something more than just destructive bleating infinitely repetitive negative noise.<<

I didn't write anything in my last post that I had not already written to you at least once or twice, perhaps even three times, but I'm happy you like how I put it this time.

>> I propose we create and build a "Cautiously Optimistic" super camp that we all agree with.... If I created a "Cautiously Optimistic" super camp, would you agree to helping the world out a bit by supporting it, either directly, or by creating a competing camp to our 'law of the crypto coin' camp?  Such takes far less time and effort than all the destructive, infinitely back and forth we've wasted so much of everyone's time on so far.<<

I wish you well with your canonizer project but I don't feel inclined to participate. Perhaps in the future. Thanks for asking.

Gordon




On 7/21/2013 3:05 PM, Gordon wrote:

Brent Allsop <brent.allsop at canonizer.com> wrote:
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>>>I'm still struggling with this.  All I can see is you saying I am wrong.  But if I am wrong, what are you saying is right?<<
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>I'm saying...
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>1) Commodity markets do not operate according to anything like a Moore's Law. I gave you an example of how gold languished for a couple of decades due to macroeconomic factors like disinflation. There was not and is not anything like a Moore's Law operating either in the supply or demand for gold. Moore's Law is applicable (or at least was applicable) to the economics of certain kinds of technological progress, but it does not apply to commodity markets in general.
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>2) Bitcoin, like all precious metals and currencies, is a commodity. It is like a hybrid between a precious metal and an ordinary currency, both of which are commodities. It is a sort digital simulation of a gold-backed currency.
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>>>What is your best educated guess about when we will first reach a $1000/BTC valuation?<<
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>I've been around the financial markets long enough to be careful about making predictions as specific as that. Many factors are in play here, e.g., the acceptance of bitcoin as a currency, the operations of central banks around the world as they attempt to manage their money supplies, the possibilities of major financial crises in the world, and so on. I simply feel cautiously optimistic about the long term future of bitcoin. 
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>Gordon
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