Bennbo

Disclaimer: Cryptocurrency is a great idea and i believe will be the eventual solution to corrupt central banks. The biggest flaw with Bitcoin is going to arise from the very thing many people believe is its' greatest strength: the finite supply. The fixed total number of Bitcoins that will ever be created is not in itself the problem. The problem stems from the fact that bitcoins are perishable. Due to lost passwords, hardware error, etc. A small percentage of bitcoins are being permanently removed from the monetary base at a constant rate. This is fine in the short run as more bitcoins continue to be mined to replace the "lost" ones. However once all possible bitcoins have been added to the monetary base this gradual loss will continue. Extrapolating this phenomenon over the long term means a bitcoin monetary base will be constantly deflationary. This is great for savers in the short run but eventually the monetary base will reach such a low level that is will become prohibitive to easy economic exchange. With the gold standard the monetary base was slowly expanding as new gold was mined and traded. Additionally, the rate of monetary destruction in the gold standard was never permanent like it is with Bitcoin, an individual could lose his sack of gold, but that gold never ceased to exist like a lost bitcoin does. In order for cryptocurrency to work, i believe an analysis of this rate of bitcoin loss/destruction needs to be studied and a methodology to offest this monetary loss in order to maintain a constant monetary base must be established. otherwise you'll eventually run into a situation where the entire economy is being traded with the last remaining bitcoin in existence. software guys...i'm looking at you to fix this!

Greetings all, I am a new forum member who is excited to finally have found such a robust community of free thinkers! To give you all a little background on myself i am a 27 year old who, thanks to the internet and a naturally curious personality, was able to avoid total indoctrination during my 12 years of mandated state brainwashing. I've spent the last 4 years as an electical engineer working on high precision GPS recievers(auto pilot systems) so i can be a great resource for anyone interested in technological possibilities in the future. Recently, I have returned to school to obtain an MBA(trust me not for the education, its a joke) and I am a current student at what is considered an "elite" business school(think top 5 in all the "objective" ranking lists). I am particularly interest in using this community to help me determine how to best leverage my current situation to maybe open some eyes of the next generation of corporate/government leaders that are my current fellow students. I'm looking forward to getting to know you all better in the future! ~Bennbo

Hello all, I am new to the forums so forgive me if this topic has been addressed previosuly. I have watched a couple hundred hours of Stefan's videos on youtube and continuously hear the following paraphrased principle: "any objective that you attempt to achieve by violence will end up achieving the opposite" Technically this statement is incorrect. I believe a more accurate version would be something along the lines of: "any morally good objective you try to achieve through violence will produce the opposite". It may just be semantics, but history has proven that violence can be used to successfully achieve a variety of morally deplorable goals; When the state attempts to achieve more slavery/death/genocide through force, it is typically sucessful. I'm excited to be joining the community and I hope this first post isn't a complete failure. Thoughts? ~Bennbo