Author: Jameson Lopp 2014-04-30 17:13:50
Published on: 2014-04-30T17:13:50+00:00
In a 2014 email exchange, Troy Benjegerdes expressed concern about Bitcoin's ability to act as a long-term store of value due to the unpredictable and imprecise behavior of buyers and sellers. He argued that if the rules are not responsive to real human needs, then Bitcoin is worthless in this regard. Benjegerdes believed that there was a need to gather a useful signal from the human political noise in order to determine what changes needed to be made to the rules and mathematics of Bitcoin. He acknowledged that dealing with politics was necessary to achieve this goal. However, Jameson Lopp, in response to this email exchange, pointed out that he did not recall it ever being a goal of Bitcoin to act as a stable long-term store of value. Meanwhile, Gareth Williams argued that Bitcoin is the elegant embodiment of artificially contrived mathematical rules, which happen to be very useful in their current configuration.
Updated on: 2023-06-08T21:01:50.762500+00:00