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    Author Topic: Why Bitcoin Is Tangible – Digging Into The Guts Of Bitcoin [by Trace Mayer]  (Read 1432 times)

    • hazek (OP)
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    November 08, 2012, 04:49:41 PM
     #1
    I just read this is one excellently awesome monster of an article on Bitcoin written by our favorite philosopher/economist/finance/privacy guru Trace, which I really think everyone should read, understand and spread as far and as wide as possible. I really enjoyed the entire thing, my jaw simply dropped when I saw Udacity lessons on Bitcoin which is something I didn't know about and can be discussed and read about here: https://bt.irlbtc.com/view/83011.0

    Here's a snippet of the article that can be found here: http://www.runtogold.com/2012/11/why-bitcoin-is-tangible-digging-into-the-guts-of-bitcoin/


    Quote
    Why Bitcoin Is Tangible – Digging Into The Guts Of Bitcoin

    by Trace Mayer, J.D. on November 8, 2012

    Reading time: 16 – 26 minutes

    Some supposed monetary theorists assert that Bitcoin is not tangible. This is no doubt a problem due to the prison house of language the human mind dwells in when trying to convey ideas. But this conclusion is either the result of either confused definitions or incorrect being based on several faulty premises and flawed logical reasoning. Bitcoins are tangible assets.
    ...
    ..

    Continue reading at the link above.



    Trace my friend, you have once again outdone yourself with this one. Please, do not ever stop spreading your message that I so vehemently believe in!  Cool
    My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

    If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp

  • flix
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    November 08, 2012, 06:19:57 PM
    Last edit: November 09, 2012, 08:36:34 AM by flix
     #2
    Nice piece by Trace. Also excellent vids by Udacity.

    Personally I think that the whole argument over tangibility is overrated... as Trace rightly points out value is subjective and there are times and situations (such as airport security checkpoints) when tangibility is a large drawback.


    Still, in human affairs momentum, history and experience have a large impact... which means that anybody over 40 will still have a lot of trouble with money that they can't touch. That doesn't mean that they won't eventually go for it, just that they'll be the last ones to do so.

    (Yes, we can make an argument that numbers and thus bitcoins are "tangible" for a certain definition of tangible, but in common usage "tangible" is understood as something that can be touched. I'd rather not get drawn into arguments over how many angels can dance on the head of a pin... and focus rather on the value of bitcoin.)

  • Syke
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    November 08, 2012, 06:54:00 PM
     #3
    I sure like this prediction:

    Quote
    Then over the next 5-10 years we will see ... where it will take at least one ounce of gold to buy a bitcoin.
    Buy & Hold

  • cypherdoc
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    November 08, 2012, 08:05:30 PM
     #4
    Quote from: flix on November 08, 2012, 06:19:57 PM
    which means that anybody under 40 will still have a lot of trouble with money that they can't touch.


    i'm sure you mean over 40, altho i'll be your exception Wink

  • cypherdoc
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    November 08, 2012, 08:27:07 PM
     #5
    the language in the article was a little tortured but i still gives kudos to sunnankar for getting out there and attacking the gold bugs like Turk.  must be mighty uncomfortable at all those meetings.  the young gun slinger vs. the old staid gold-meister.

  • Zangelbert Bingledack
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    November 09, 2012, 07:35:12 AM
     #6
    "...the prison house of language the human mind dwells in when trying to convey ideas."

    Awesome way to put it, Trace.
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