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Subject: Re: [Bitcoin-development] Bitcoin-development Digest, Vol 49,
Issue 16
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Subject: Bitcoin-development Digest, Vol 49, Issue 16
=C2=A0 1. Re: Proposed alternatives to the 20MB step (Eric Voskuil)
----------------------------------------------------------------------
Message: 1
Date: Mon, 01 Jun 2015 17:09:10 -0700
From: Eric Voskuil <eric@voskuil.org>
Subject: Re: [Bitcoin-development] Proposed alternatives to the 20MB
=C2=A0=C2=A0=C2=A0 step
To: Mike Hearn <mike@plan99.net>, J?r?me Legoupil
=C2=A0=C2=A0=C2=A0 <jjlegoupil@gmail.com>
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Message-ID: <556CF426.3030204@voskuil.org>
Content-Type: text/plain; charset=3D"iso-8859-1"
On 06/01/2015 08:55 AM, Mike Hearn wrote:
>> Decentralization is the core of Bitcoin's security model and thus
that's what gives Bitcoin its value.
> No. Usage is what gives Bitcoin value.
Nonsense.
Visa, Dollar, Euro, Yuan, Peso have usage.
The value in Bitcoin is *despite* it's far lesser usage.
Yes, the price is a function of demand, but demand is a function of
utility. Despite orders of magnitude less usage than state currencies,
Bitcoin has utility. This premium *only* exists due to its lack of
centralized control. I would not work full time, or at all, on Bitcoin
if it was not for decentralization; nor would I hold any of it. I doubt
anyone would show an interest in Bitcoin if it was not decentralized. If
it centralized even you would be forced to find something else to do,
because Bitcoin "usage" would drop to zero.
> It's kind of maddening that I have to point this out. Decentralisation
is a means to an end.
No, it was/is the primary objective.
...
e
________________________________________________________I agree Eric, but I=
would add that demand is more a function of one's=C2=A0 lack=C2=A0of faith=
in one's government and its fiat currency.=C2=A0 The value of Bitcoin is=
=20
its independence and constancy.=C2=A0 Its value doesn't change, only the wo=
rth=20
or worthlessness of corrupt states and their currencies that it's compared=
=20
to / exchanged with.=C2=A0 I hesitate to say money since money is supposed =
to=20
be a store of value over time.
Ron
------=_Part_2048222_1625053647.1433310632569
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable
<html><body><div style=3D"color:#000; background-color:#fff; font-family:ti=
mes new roman, new york, times, serif;font-size:14px"><br> <div id=3D"yui_=
3_16_0_1_1433160141753_29936" style=3D"font-family: times new roman, new yo=
rk, times, serif; font-size: 14px;"> <div id=3D"yui_3_16_0_1_1433160141753_=
29935" style=3D"font-family: HelveticaNeue, Helvetica Neue, Helvetica, Aria=
l, Lucida Grande, sans-serif; font-size: 16px;"> <div id=3D"yui_3_16_0_1_14=
33160141753_29934" dir=3D"ltr"> <hr size=3D"1"> <font id=3D"yui_3_16_0_1_1=
433160141753_29933" face=3D"Arial" size=3D"2"> <b id=3D"yui_3_16_0_1_143316=
0141753_29968"><span id=3D"yui_3_16_0_1_1433160141753_29967" style=3D"font-=
weight: bold;">Subject:</span></b> Bitcoin-development Digest, Vol 49, Issu=
e 16<br> </font> </div> <div id=3D"yui_3_16_0_1_1433160141753_29937" class=
=3D"y_msg_container"> 1. Re: Proposed alternatives to the 20MB step =
(Eric Voskuil)<br>---------------------------------------------------------=
-------------<br><br>Message: 1<br>Date: Mon, 01 Jun 2015 17:09:10 -0700<br=
>From: Eric Voskuil <<a ymailto=3D"mailto:eric@voskuil.org" href=3D"mail=
to:eric@voskuil.org">eric@voskuil.org</a>><br>Subject: Re: [Bitcoin-deve=
lopment] Proposed alternatives to the 20MB<br> step<br>To=
: Mike Hearn <<a id=3D"yui_3_16_0_1_1433160141753_30609" ymailto=3D"mail=
to:mike@plan99.net" href=3D"mailto:mike@plan99.net">mike@plan99.net</a>>=
, J?r?me Legoupil<br> <<a id=3D"yui_3_16_0_1_143316014=
1753_30607" ymailto=3D"mailto:jjlegoupil@gmail.com" href=3D"mailto:jjlegoup=
il@gmail.com">jjlegoupil@gmail.com</a>><br>Cc: Bitcoin Dev <<a id=3D"=
yui_3_16_0_1_1433160141753_29984" ymailto=3D"mailto:bitcoin-development@lis=
ts.sourceforge.net" href=3D"mailto:bitcoin-development@lists.sourceforge.ne=
t">bitcoin-development@lists.sourceforge.net</a>><br>Message-ID: <<a =
id=3D"yui_3_16_0_1_1433160141753_30612" ymailto=3D"mailto:556CF426.3030204@=
voskuil.org" href=3D"mailto:556CF426.3030204@voskuil.org">556CF426.3030204@=
voskuil.org</a>><br>Content-Type: text/plain; charset=3D"iso-8859-1"<br>=
<br>On 06/01/2015 08:55 AM, Mike Hearn wrote:<br>>> Decentralization =
is the core of Bitcoin's security model and thus<br>that's what gives Bitco=
in its value.<br>> No. Usage is what gives Bitcoin value.<br><br>Nonsens=
e.<br><br>Visa, Dollar, Euro, Yuan, Peso have usage.<br><br>The value in Bi=
tcoin is *despite* it's far lesser usage.<br><br>Yes, the price is a functi=
on of demand, but demand is a function of<br>utility. Despite orders of mag=
nitude less usage than state currencies,<br>Bitcoin has utility. This premi=
um *only* exists due to its lack of<br>centralized control. I would not wor=
k full time, or at all, on Bitcoin<br>if it was not for decentralization; n=
or would I hold any of it. I doubt<br>anyone would show an interest in Bitc=
oin if it was not decentralized. If<br>it centralized even you would be for=
ced to find something else to do,<br>because Bitcoin "usage" would drop to =
zero.<br><br>> It's kind of maddening that I have to point this out. Dec=
entralisation<br>is a means to an end.<br><br><div id=3D"yui_3_16_0_1_14331=
60141753_30191">No, it was/is the primary objective.<br></div><div id=3D"yu=
i_3_16_0_1_1433160141753_30193">...<br></div>e<br><div id=3D"yui_3_16_0_1_1=
433160141753_30189">_______________________________________________________=
_</div><div dir=3D"ltr" id=3D"yui_3_16_0_1_1433160141753_30158">I agree Eri=
c, but I would add that demand is more a function of one's lack =
</div><div id=3D"yui_3_16_0_1_1433160141753_30460" dir=3D"ltr">of faith in =
one's government and its fiat currency. The value of Bitcoin is <br><=
/div><div id=3D"yui_3_16_0_1_1433160141753_30251" dir=3D"ltr">its independe=
nce and constancy. Its value doesn't change, only the worth <br></div=
><div id=3D"yui_3_16_0_1_1433160141753_30297" dir=3D"ltr">or worthlessness =
of corrupt states and their currencies that it's compared <br></div><div id=
=3D"yui_3_16_0_1_1433160141753_30457" dir=3D"ltr">to / exchanged with. =
; I hesitate to say money since money is supposed to <br></div><div id=3D"y=
ui_3_16_0_1_1433160141753_30564" dir=3D"ltr">be a store of value over time.=
</div><div id=3D"yui_3_16_0_1_1433160141753_30523" dir=3D"ltr"><br></div><d=
iv id=3D"yui_3_16_0_1_1433160141753_30507" dir=3D"ltr">Ron<br></div><br><br=
><br><br></div> </div> </div> </div></body></html>
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