From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 3B15F3EE for ; Mon, 10 Aug 2015 19:14:30 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-lb0-f176.google.com (mail-lb0-f176.google.com [209.85.217.176]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id A9208182 for ; Mon, 10 Aug 2015 19:14:29 +0000 (UTC) Received: by lbbtg9 with SMTP id tg9so62932032lbb.1 for ; Mon, 10 Aug 2015 12:14:28 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20120113; h=mime-version:in-reply-to:references:from:date:message-id:subject:to :cc:content-type; bh=NuY2RvfozuXfEw+OypWJ+p4gYoGoU/M/QjkuOkUaxfs=; b=VFR5nL8QdSuhMbhN0phMMEYpASSSQGLhRueYZhhbWpf5b8IlcKRr6NwzdIirqawpp3 vDzodsOBqt14v78NBncp8fVlw1g8JgnGXA+3IUAVV0vw/5nWSgVoSGj0EihBD/GJIAeX YKYQCzrXvmzOF+ZEWleA9lQDHm+IDjdJeDUfUHeapjbqXDNf/+3lShK2N2H/Wc7jPF58 4R8roU1v1bXq+dS6fhaHkDLxuwYetTg80TLGuwU4XGAvT3nCH5aNUanhoDKoaUtg3/b2 37EA7X7qSsfYF0nuWosv1ZiDKWLOwcg7bq5uT0lZozk1RCfX6BNY53YtNkZHywwEqBTl sgGA== X-Received: by 10.112.129.104 with SMTP id nv8mr7331400lbb.63.1439234067955; Mon, 10 Aug 2015 12:14:27 -0700 (PDT) MIME-Version: 1.0 Received: by 10.25.22.25 with HTTP; Mon, 10 Aug 2015 12:14:08 -0700 (PDT) In-Reply-To: <20150810185031.GA31610@navy> References: <55C7D234.1040306@bitmarkets.net> <20150810185031.GA31610@navy> From: Hector Chu Date: Mon, 10 Aug 2015 20:14:08 +0100 Message-ID: To: Anthony Towns Content-Type: multipart/alternative; boundary=047d7b3a8bee5e879e051cf9cb96 X-Spam-Status: No, score=-2.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID,DKIM_VALID_AU,FREEMAIL_FROM,HTML_MESSAGE,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: Bitcoin Dev Subject: Re: [bitcoin-dev] Off-chain transactions and miner fees X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 10 Aug 2015 19:14:30 -0000 --047d7b3a8bee5e879e051cf9cb96 Content-Type: text/plain; charset=UTF-8 On 10 August 2015 at 19:50, Anthony Towns via bitcoin-dev < bitcoin-dev@lists.linuxfoundation.org> wrote: > ...but I think at present the time value of bitcoin is effectively zero Since bitcoin is liquid you forget that one can just sell off his bitcoin for fiat and hold that for interest. The time value is thus given by the yield curve of interest rates. --047d7b3a8bee5e879e051cf9cb96 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
On 1= 0 August 2015 at 19:50, Anthony Towns via bitcoin-dev <= ;bitcoin-dev@lists.linuxfoundation.org> wrote:
...but I think at present the time value of bitcoin is= =C2=A0effectively zero

Since bitcoin is liq= uid you forget that one can just sell off his bitcoin for fiat and hold tha= t for interest. The time value is thus given by the yield curve of interest= rates.
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