When it comes to understanding the nature of Bitcoin, one of the most plentiful sources of misunderstanding it is the false dichotomy. This subtle fallacy is what gives an appearance of validity, for example, concluded that the "ossification" (read: stagnation) of Bitcoin may be desirable.
Can Bitcoin be both immutable and adaptable? To expose the false dichotomy that opposes these two properties-often sustained by both supporters and detractors of Bitcoin-, now give the floor to Mengerian.
por Mengerian
It can be difficult to understand how Bitcoin can be simultaneously 1) adaptable and upgradeable since it is necessary to incorporate technical improvements, and 2) resistant to changes that would undermine their qualities of good money.
Many people are attracted to Bitcoin because of its monetary properties, and find it comforting to the theory that it is the "ossification" system which prevents the violation of such properties. Phrases like "Bitcoin is backed by mathematics" exemplify this mentality.
But the real solution to this apparent duality is to realize that it is ultimately the market that has control .
In our world of fiat money and central banks, people are not used to thinking about money as a market phenomenon . You need to understand monetary theory of the Austrian School to understand how individuals interact freely, according to their subjective preferences, granted good value at best market meets the criteria of good money.
Only when we are able to fully appreciate the perspective of the Austrian School we can understand that the possibilities for the future of Bitcoin are truly amazing. Not only you can retain their properties for good money, but can also be improved.
If the market is released , Bitcoin may become more fungible, more portable, easier to store, safer, more durable, more identifiable, more divisible, more convenient and more liquid.
No more profitable than money corruption scam, so the fight to keep good money -because never cease efforts to undermine never cesarán- . But it is important to note why this fight is so important.
Usually tends to underestimate the importance of good money, how wonderful and rewarding it can be for the whole society. The problem is that its benefits are dispersed, weakening the incentives and complicates the coordination of the actions necessary to defend it . The destroyers of good money have the advantage of concentrating their ill - gotten gains in a smaller group. Thus, although the benefit that gives them their scam pales in comparison to the value - destroying, it is easier for them to focus their attacks on any visible crack in the armor of good money.
Good money advocates, however, have the advantage that they can use market mechanisms to coordinate their actions. This allows them to be innovative, use resources efficiently, and carry out multiple strategies simultaneously.
Perhaps better understand the dynamics of this battle (beginning to perceive that there is, indeed, a battle) help us be more effective in achieving our goals.
Read original text in English
Some technical features of Bitcoin (mining algorithm, maximum block size of transactions, number of decimal places supported) can change, if necessary, without affecting those other characteristics which determine their condition good currency.
Moreover, if the fundamental qualities of Bitcoin, which ensure its optimal monetary attributes (such as the curve of predetermined emission and the impossibility of double spending) are, in practice, unchangeable, it is precisely because certain characteristics, it is necessary to alter towards adapting to a changing reality, they are not.
Bitcoin changes only to the extent that is necessary to maintain unchanged its status as good coin and currency would be good if I lost that capacity.
In other words: Bitcoin is unchangeable because it is adaptable.
Can Bitcoin be both immutable and adaptable? To expose the false dichotomy that opposes these two properties-often sustained by both supporters and detractors of Bitcoin-, now give the floor to Mengerian.
por Mengerian
It can be difficult to understand how Bitcoin can be simultaneously 1) adaptable and upgradeable since it is necessary to incorporate technical improvements, and 2) resistant to changes that would undermine their qualities of good money.
Many people are attracted to Bitcoin because of its monetary properties, and find it comforting to the theory that it is the "ossification" system which prevents the violation of such properties. Phrases like "Bitcoin is backed by mathematics" exemplify this mentality.
But the real solution to this apparent duality is to realize that it is ultimately the market that has control .
In our world of fiat money and central banks, people are not used to thinking about money as a market phenomenon . You need to understand monetary theory of the Austrian School to understand how individuals interact freely, according to their subjective preferences, granted good value at best market meets the criteria of good money.
Only when we are able to fully appreciate the perspective of the Austrian School we can understand that the possibilities for the future of Bitcoin are truly amazing. Not only you can retain their properties for good money, but can also be improved.
If the market is released , Bitcoin may become more fungible, more portable, easier to store, safer, more durable, more identifiable, more divisible, more convenient and more liquid.
No more profitable than money corruption scam, so the fight to keep good money -because never cease efforts to undermine never cesarán- . But it is important to note why this fight is so important.
Usually tends to underestimate the importance of good money, how wonderful and rewarding it can be for the whole society. The problem is that its benefits are dispersed, weakening the incentives and complicates the coordination of the actions necessary to defend it . The destroyers of good money have the advantage of concentrating their ill - gotten gains in a smaller group. Thus, although the benefit that gives them their scam pales in comparison to the value - destroying, it is easier for them to focus their attacks on any visible crack in the armor of good money.
Good money advocates, however, have the advantage that they can use market mechanisms to coordinate their actions. This allows them to be innovative, use resources efficiently, and carry out multiple strategies simultaneously.
Perhaps better understand the dynamics of this battle (beginning to perceive that there is, indeed, a battle) help us be more effective in achieving our goals.
Read original text in English
Some technical features of Bitcoin (mining algorithm, maximum block size of transactions, number of decimal places supported) can change, if necessary, without affecting those other characteristics which determine their condition good currency.
Moreover, if the fundamental qualities of Bitcoin, which ensure its optimal monetary attributes (such as the curve of predetermined emission and the impossibility of double spending) are, in practice, unchangeable, it is precisely because certain characteristics, it is necessary to alter towards adapting to a changing reality, they are not.
Bitcoin changes only to the extent that is necessary to maintain unchanged its status as good coin and currency would be good if I lost that capacity.
In other words: Bitcoin is unchangeable because it is adaptable.