p1980

3 ms·

1. 1.▲
   Can ice cream sellers be better off by adopting a positive sum framework?(pschronicles.posterous.com)

   1 points by p1980 15y ago|0 comments
2. 2.▲
   by p1980 15y ago

   yep this a good open question. The bitcoin guys will say, in parts of the world economies where bitcoins are taken for both input costs and for selling prices, then exchange rates are irrelevant because bitcoins are used in all transactions
3. 3.▲
   by p1980 15y ago

   you miss a point--there will be certain players whose opportunity cost will be higher than waiting for others to liquidate theirs. Those people will liquidate theirs for USD to do productive investment that will earn returns far beyond just
4. 4.▲
   by p1980 15y ago

   so..when hoarders realize by not allowing bitcoins to circulate, they will have no worth, some will start to sell their holdings since it becomes obvious they are not going to continue appreciating. This causes circulation to increase again
5. 5.▲
   by p1980 15y ago

   The ideas here are important criticisms, but there is one thing to keep in mind with hoarding, and the author can't have it both ways. The author makes an important point that Bitcoin has value precisely because people are willing to accept