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12837664 No.12837664 [Reply] [Original]

Satoshi (Szabo) releases v.01 of bitcoin and Hal Finey (what a coincide right?) immediately replies to it, with a somewhat detailed conceptualization of bitcoin future impact
https://www.mail-archive.com/cryptography@metzdowd.com/msg10152.html
Read this fucking part

>One immediate problem with any new currency is how to value it. Even ignoring the practical problem that virtually no one will accept it at first, there is still a difficulty in coming up with a reasonable argument in favor of a particular non-zero value for the coins.
>As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide householdwealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.
>So the possibility of generating coins today with a few cents of computetime may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim,are they really 100 million to one against? Something to think about...

SET YOUR FUCKING SELLS AT 9.99 MILLION.
10 MILLION PER BTC. THATS THE FUCKING GOAL SINCE DAY ONE

>> No.12837701

>>12837664
Yeah no shit these guys had that kind of foresight

Szabo is going to be the richest man in human history

>> No.12837730

Yeah but szabo has since renounced bitcoin and has said that ETH fulfills his original vision of what cryptocurrency was about and that corecucks destroyed bitcoin. Well how about that? Szabo supports ETH more than BTC, szabo was even gifted 125k ETH for his help on the ETH white paper!

Corecucks absolutely btfo forever!

>> No.12837757

jimmy sambo does it again

>> No.12837758

>>12837730
Except szabo also hates proof of stake and thinks it’ll destroy eth

>> No.12837760

>>12837664
>Bitcoin
>currency running the world

Yeah no. XRP has already done it as the literal government/banker coin.

>> No.12838256

>>12837664
All part of cia plan

>> No.12838426

>>12837758
ETC isn't also going the proof-of-stake route, is it?

>> No.12838443
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12838443

>>12837664
Do people actually fall for this Pascal's Wager bullshit?