Quantifying the value of BitCoin | Hacker News Reader

Quantifying the value of BitCoin

statisticaleconomics.org

23 pointsjohncoogan18 comments

Um, wtf is this? Random equations, allusions to quantum mechanics + chart porn?

The Heisenberg uncertainty principle is a fundamental property of time frequency analysis. The way it is appealed to here is not even wrong. In fact, the same is true of much of the article.

I mean this in the nicest non-flamey way possible to the OP...but was I the only one who was picking up strong vibes of schizophrenic-type mania writing?

I appreciate I am not a nuclear physicist nor an engineer, but I am an economist, and I work with stats...and all I really got from that was a garbled assault of graphs and words...incoherently...with strong...um...vibes from certain other areas of experience in my life with the mentally ill.

I am happy for someone else with more experience in this area of math to come in and explain it to me...but that's my honest first impression...

Yeah, and the saddest thing is that (at the time of my posting) 21 votes had gone to the article's upvoting.

People see a bunch of graphs and the word "bitcoin" and that's all they need to see before wanting to bring it to everyone else's attention.

I will occasionally upvote when I want to see others' response to something.

I expected the content to be completely different every time I pressed reload.

> Economics can be a science. As it is practiced today, it is most definitely not.

I always find it interesting that when you open a quantum mechanics textbook you see pages upon pages of math. When you open an economics textbook, you see lots of words and very few equations (at least compared to the other sciences). If anything, the complexity of something like economics should merit more math than QM, not less.

> If anything, the complexity of something like economics should merit more math than QM, not less.

Yes, all but for the fact that there is less meaningful mathematics in economics than in most sciences and pseudosciences. It's one thing to describe some aspect of economic behavior with words, but quite another to try to meaningfully quantify that description with an equation.

It is technically a dogma, as there is non-consistent opposing schools of thought and no clear way to prove, mainly due to human influence which is mostly unpredictable and random.

Everything you just said applies equally well to quantum mechanics, or basically any statistical field. I guess only classical physics is a science?

Read some economics graduate papers?

Hint: There's often lots of math, little of substance, and its proof that lots of math by itself doesn't mean anything...kind of the like the OP incidentally...

/and I am very sympathetic to the idea that economics is not a science.

It's quite long, but I guess it's yet another "analysis" that ignores all other crypto coins. I've met so many so called libertarians seeking for ONE TRUE GOD.

EDIT: Prove me wrong then downvote me please, I'll be very sorry.

>> How do we make our economy grow without having to borrow money? Simple, make less restrictive policy.

That went well the last time we tried it. But I am probably missing something fundamental.

Bitcoin has a lowercase "c".

Can someone make a TL;DR and tell us what number he came out with in final?

You cannot put a number on crazy.

Wow. Very interesting analysis.

Such value?

A mysql dump of abe database can be downloaded from ftp://ftp.netinch.com/temp/bitcoin-abe/abe.sql.gz (updated 2014-02-27) it's 14GB file that expands to 37GB dump, which took 84GB when imported to mysql.

Found the link at https://github.com/bitcoin-abe/bitcoin-abe/issues/15

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