6 ms·

Quantifying the value of BitCoin

23 points by johncoogan 13y ago

officialjunk 13y ago
Wow. Very interesting analysis.
- user24 13y ago
  Such value?
beaner 13y ago
Bitcoin has a lowercase "c".
bjelkeman-again 13y ago
>> How do we make our economy grow without having to borrow money? Simple, make less restrictive policy. That went well the last time we tried it. But I am probably missing something fundamental.
Xcelerate 13y ago
> Economics can be a science. As it is practiced today, it is most definitely not. I always find it interesting that when you open a quantum mechanics textbook you see pages upon pages of math. When you open an economics textbook, you see lots of words and very few equations (at least compared to the other sciences). If anything, the complexity of something like economics should merit more math than QM, not less.
- lutusp 13y ago
  > If anything, the complexity of something like economics should merit more math than QM, not less. Yes, all but for the fact that there is less meaningful mathematics in economics than in most sciences and pseudosciences. It's one thing to describe some aspect of economic behavior with words, but quite another to try to meaningfully quantify that description with an equation.
- cones688 13y ago
  It is technically a dogma, as there is non-consistent opposing schools of thought and no clear way to prove, mainly due to human influence which is mostly unpredictable and random.
  - yummyfajitas 13y ago
    Everything you just said applies equally well to quantum mechanics, or basically any statistical field. I guess only classical physics is a science?
- ACow_Adonis 13y ago
  Read some economics graduate papers? Hint: There's often lots of math, little of substance, and its proof that lots of math by itself doesn't mean anything...kind of the like the OP incidentally... /and I am very sympathetic to the idea that economics is not a science.
nullc 13y ago
I expected the content to be completely different every time I pressed reload.
yummyfajitas 13y ago
Um, wtf is this? Random equations, allusions to quantum mechanics + chart porn? The Heisenberg uncertainty principle is a fundamental property of time frequency analysis. The way it is appealed to here is not even wrong. In fact, the same is true of much of the article.
- ACow_Adonis 13y ago
  I mean this in the nicest non-flamey way possible to the OP...but was I the only one who was picking up strong vibes of schizophrenic-type mania writing? I appreciate I am not a nuclear physicist nor an engineer, but I am an economist, and I work with stats...and all I really got from that was a garbled assault of graphs and words...incoherently...with strong...um...vibes from certain other areas of experience in my life with the mentally ill. I am happy for someone else with more experience in this area of math to come in and explain it to me...but that's my honest first impression...
  - deleted 13y ago
    [deleted]
  - crusso 13y ago
    Yeah, and the saddest thing is that (at the time of my posting) 21 votes had gone to the article's upvoting. People see a bunch of graphs and the word "bitcoin" and that's all they need to see before wanting to bring it to everyone else's attention.
    - dllthomas 13y ago
      I will occasionally upvote when I want to see others' response to something.
4684499 13y ago
It's quite long, but I guess it's yet another "analysis" that ignores all other crypto coins. I've met so many so called libertarians seeking for ONE TRUE GOD. EDIT: Prove me wrong then downvote me please, I'll be very sorry.
clouds 13y ago
A mysql dump of abe database can be downloaded from ftp://ftp.netinch.com/temp/bitcoin-abe/abe.sql.gz (updated 2014-02-27) it's 14GB file that expands to 37GB dump, which took 84GB when imported to mysql. Found the link at https://github.com/bitcoin-abe/bitcoin-abe/issues/15 https://github.com/bitcoin-abe/bitcoin-abe/issues/15
grondilu 13y ago
Can someone make a TL;DR and tell us what number he came out with in final?
- yvdriess 13y ago
  You cannot put a number on crazy.

23 points by johncoogan 13y ago

officialjunk 13y ago

Wow. Very interesting analysis.

user24 13y ago
Such value?

beaner 13y ago

Bitcoin has a lowercase "c".

bjelkeman-again 13y ago

>> How do we make our economy grow without having to borrow money? Simple, make less restrictive policy. That went well the last time we tried it. But I am probably missing something fundamental.

Xcelerate 13y ago

> Economics can be a science. As it is practiced today, it is most definitely not. I always find it interesting that when you open a quantum mechanics textbook you see pages upon pages of math. When you open an economics textbook, you see lots of words and very few equations (at least compared to the other sciences). If anything, the complexity of something like economics should merit more math than QM, not less.

lutusp 13y ago
> If anything, the complexity of something like economics should merit more math than QM, not less. Yes, all but for the fact that there is less meaningful mathematics in economics than in most sciences and pseudosciences. It's one thing to describe some aspect of economic behavior with words, but quite another to try to meaningfully quantify that description with an equation.
cones688 13y ago
It is technically a dogma, as there is non-consistent opposing schools of thought and no clear way to prove, mainly due to human influence which is mostly unpredictable and random.
- yummyfajitas 13y ago
  Everything you just said applies equally well to quantum mechanics, or basically any statistical field. I guess only classical physics is a science?
ACow_Adonis 13y ago
Read some economics graduate papers? Hint: There's often lots of math, little of substance, and its proof that lots of math by itself doesn't mean anything...kind of the like the OP incidentally... /and I am very sympathetic to the idea that economics is not a science.

nullc 13y ago

I expected the content to be completely different every time I pressed reload.

yummyfajitas 13y ago

Um, wtf is this? Random equations, allusions to quantum mechanics + chart porn? The Heisenberg uncertainty principle is a fundamental property of time frequency analysis. The way it is appealed to here is not even wrong. In fact, the same is true of much of the article.

ACow_Adonis 13y ago
I mean this in the nicest non-flamey way possible to the OP...but was I the only one who was picking up strong vibes of schizophrenic-type mania writing? I appreciate I am not a nuclear physicist nor an engineer, but I am an economist, and I work with stats...and all I really got from that was a garbled assault of graphs and words...incoherently...with strong...um...vibes from certain other areas of experience in my life with the mentally ill. I am happy for someone else with more experience in this area of math to come in and explain it to me...but that's my honest first impression...
- deleted 13y ago
  [deleted]
- crusso 13y ago
  Yeah, and the saddest thing is that (at the time of my posting) 21 votes had gone to the article's upvoting. People see a bunch of graphs and the word "bitcoin" and that's all they need to see before wanting to bring it to everyone else's attention.
  - dllthomas 13y ago
    I will occasionally upvote when I want to see others' response to something.

4684499 13y ago

It's quite long, but I guess it's yet another "analysis" that ignores all other crypto coins. I've met so many so called libertarians seeking for ONE TRUE GOD. EDIT: Prove me wrong then downvote me please, I'll be very sorry.

clouds 13y ago

A mysql dump of abe database can be downloaded from ftp://ftp.netinch.com/temp/bitcoin-abe/abe.sql.gz (updated 2014-02-27) it's 14GB file that expands to 37GB dump, which took 84GB when imported to mysql. Found the link at https://github.com/bitcoin-abe/bitcoin-abe/issues/15 https://github.com/bitcoin-abe/bitcoin-abe/issues/15

grondilu 13y ago

Can someone make a TL;DR and tell us what number he came out with in final?

yvdriess 13y ago
You cannot put a number on crazy.