Mon Jun 13, 2016 9:27 pm

I'd like to preface this by saying I'm an econ noob aside from econ 101 and papers I read online.

As I see it, for cryptos, value and quality are tied together. We do circulate good money once we don't have any bad money left to circulate. Roger is trying to say that another crypto may be chipping away at bitcoin's value as a result of being better money. By better I mean being able to send money with a better confirmation time and lower cost which will lead to hoarding of it over time. No one will want to hoard bitcoin if we cannot send/spend it because of high fees or slow transaction times.

Much respect for your sincerity, attitude, and intelligence already!Please keep in mind, and understand, I have, sometimes here, sometimes elsewhere, carefully defined these words so that I they may be to used to understand what I present without conflation. This doesn't mean my definitions are correct, necessarily, but I do this so we can have a shared meaning of what I say (and you might then translate my definitions to the words YOU use, so that YOU can understand me, in your own way.When I say Ideal Money or "good money" we (this is from John Nash's works) mean money that doesn't degrade in value/purchasing power over time. Now understand something tricky. In order to "test" for this, one must look at some theoretically optimal measurement, which is an optimized basket of goods and service that we purchase with this money. In other words such a metric would be impossible to define in foresight. Nonetheless our definition still stands. (this paragraphs is tricky for readers not used to my writing, but with a few reads and some further dialogue with me it is not too difficult to have a strong grasp on. Moreover, it is important to understand and will give one the basis to understand Nash and Ideal Money.When say "better" by having lower confirmation time and lower cost (obv to transact) these definitions of "better" or "good" are fine in theory (even if they are not the same as my definitions), HOWEVER, it does NOT stand to reason that making something easier to TRANSACT is better for HOARDING.And then you assert, but without a basis for saying such a thing, that no one will want to hoard something that they cannot send/spend because of high fee or slow transaction time.But I am sure you understand now my point, because I see you are sincere, I am not a basic player, have no fear of growth and change thru me. I am a major player in this game, hidden from you until now...Gold, is proof of something that costs a massive amount to transact, relative to anything bitcoin will ever cost, and gold must be shipped over sea and moved physically. Yet it is the most hoarded asset in the world.Science, observable reality, and reason, show you will learn from me if you continue to enter into dialogue on the subject of "What is Ideal Money".I want to leave this point on its own, and I will continue in another post.Cheers to sincere players and sincere play!