Is there a point where the halvings mean it's no longer profitable to run anywhere?
The ecosystem is a complex adaptive system and as such there is no way of predicting its future behaviour.
That's not really correct though. The operational parameters of the system are very well defined and understood. As a result, modelling any number of scenarios isn't actually all that complex. The linked calculator is a useful tool in that regard.
The bitcoin ecosystem is a complex adaptive system and as such one of its characteristics is that a perfect understanding of the individual parts does not automatically convey a perfect understanding of the whole system’s behaviour.
Don’t trust what i say, trust complex systems theory that is science.
the controls that govern how Bitcoin functions and the whole system's behaviour is very tightly governed via open source software. As a result, the rules are published for all to see, making modelling of various scenarios eminently possible.
You are free to model all you want, science tells us that the behaviours are unpredictableWhat is it about the system that you feel precludes modelling?
So trust science that is science!
The ecosystem is not limited to the software, the people that interact with it make it complex adaptive.
You are free to model all you want, science tells us that the behaviours are unpredictable
I’d rather trust science than random people on the internet, hence i suggested you go read about it instead of trusting me
According to systems theory they are agents of the system, but only according to sciencePeople who use the system are outside the system
Feel free to disagree with science
That’s allowed, i’m happy for you to follow your personal path of discovery. Best of luckI don't trust you.
According to systems theory they are agents of the system, but only according to science
Feel free to disagree with science
Do you have any source for this distinction, i’m interestedSystems theory is a pretty loose multi-disciplinary approach to analysing complex systems. It's not really of much value when looking at an IT based system with very well defined rules
True and it has been proven unable to predict the future, unless you have some source which i would be very interested inUser modelling is applied on IT systems all the time.
Should i stop talking about things i know?This isn't the first time on these pages where you have resorting to suggesting people just don't understand something when they point out an error in what you say.
I happily obligeFeel free to quote some of this science.
This is nonsense! I have no axe to grind for Libra; it is not for me, and I have no idea whether it will live up to the aims of its promoters. But there is no a priori reason at all why Libra should not be every bit as secure and systemically stable as bitcoin. I will allow her to call fiat systemically unstable and so by extension Libra's price has potential instability (vis a vis the price of eggs for example) but of course nothing in the same league as the instability of the price of bitcoin.Caitlin said:Bitcoin is the opposite of fiat currencies, which generally exhibit price-stability but are susceptible to periodic bouts of financial system instability. By extension, stablecoins that track fiat currencies, such as Facebook’s new cryptocurrency (Libra), fall into the same category as fiat currencies—they’re designed for price stability, not systemic stability, and are exposed to the same risk of periodic instability of traditional financial systems.
But there is no a priori reason at all why Libra should not be every bit as secure and systemically stable as bitcoin.
Should i stop talking about things i know?
True and it has been proven unable to predict the future, unless you have some source which i would be very interested in
I happily oblige
Thousands of Facebook accounts get hacked daily as far as i can see
But there is no a priori reason at all why Libra should not be every bit as secure and systemically stable as bitcoin.
Since with bitcoin the supply is 100% certain its price is doomed to be highly unstable. Bitcoin price will never, ever be stable unless it reaches its true worth of zero.
You haven't been able to back up your assertions here yet...
Are you deliberately misunderstanding what I said?
I never suggested we predict the future, simply analyse and model the behaviour of the Bitcoin system based on a number of possible scenarios.
If you don't understand that, and IT capacity & performance testing methodology, then why comment on my post in the first place?
You can start from here and follow the referencesLet's stick with this one.... Please quote your sources. Once we sort that out, we can move on to the other aspects and I'll post research articles for UBA and references for IT systems performance testing.
Wolfie I am going to bully you with a bit of math.But it will never, ever reach its "true worth of zero", because it is doomed to be highly unstable.
It cant be both? Both stable and doomed to be highly unstable?
My assertion are backed up by research and science, you can find them within complex adaptive systems literature
Well, you got short memory, in fact my answer to your message only quoted this question you asked:
<leo\>Is there a point where the halvings mean it's no longer profitable to run anywhere?</leo>
To which i replied it can’t be known
If M is fixed then as demand varies, as it always will, P has to take up the slack. Central banks target a stable devaluation of the price, they do so by tampering with the supply of money and its demand.