A Quote by Alan Greenspan
Bitcoin is really a fascinating example of how human beings create value, and is not always rational... tt is not a rational currency in that case.
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Bitcoin is a currency, bitcoin is a network, bitcoin is a technology and you can't separate these things. A consensus network that bases its value on the currency does not work without the currency.
Put simply, behavioural economics argues that human beings' decision-taking is guided by the evolutionary baggage which we bring with us to the present day. Evolution has made us rational to a point, but not perfectly so. It has given us emotions, for example, which programme us to override our rational brain and act more instinctively.
You get your intuition back when you make space for it, when you stop the chattering of the rational mind. The rational mind doesn't nourish you. You assume that it gives you the truth, because the rational mind is the golden calf that this culture worships, but this is not true. Rationality squeezes out much that is rich and juicy and fascinating.
What our leaders and pundits never let slip is that the terrorists - whatever else they might be - might also be rational human beings; which is to say that in their own minds they have a rational justification for their actions.
No rational argument will have a rational effect on a man who does not want to adopt a rational attitude.
What bitcoin does better than the current financial system is it's a better stored value globally. There are a lot of countries that really don't trust their banks or their currency, and bitcoin is an alternative.
I want to say, and this is very important: at the end we lucked out. It was luck that prevented nuclear war. We came that close to nuclear war at the end. Rational individuals: Kennedy was rational; Khrushchev was rational; Castro was rational. Rational individuals came that close to total destruction of their societies. And that danger exists today.
The obedience of men is to imitate the obedience of angels, and rational beings on earth are to live unto God, as rational beings in heaven live unto Him.
Bitcoin is valuable as a currency because of the economic efficiencies the bitcoin network is already creating as transactions flow over it. As with the Internet, more applications will flourish which will make the bitcoin network, and thus bitcoin as a currency, valuable.
While the apostles of the new so-called "behavioral" theory present ample evidence of how often human beings make irrational financial decisions, it remains to be seen whether these decisions lead to predictable errors that create systematic mispricings upon which rational investors can readily and economically capitalize.
It's all emotion. But there's nothing wrong with emotion. When we are in love, we are not rational; we are emotional. When we are on vacation, we are not rational; we are emotional. When we are happy, we are not [rational]. In fact, in more cases than not, when we are rational, we're actually unhappy. Emotion is good; passion is good. Being into what we're into, provided that it's a healthy pursuit, it's a good thing.
What our leaders and pundits never let slip is that the terrorists-whatever else they might be-might also be rational human beings ; which is to say that in their own minds they have a rational justification for their actions. Most terrorists are people deeply concerned by what they see as social, political, or religious injustice and hypocrisy, and the immediate grounds for their terrorism is often retaliation for an action of the United States.
Happiness is a state of non-contradictory joy . . . Happiness is possible only to a rational man, the man who desires nothing but rational goals,
seeks nothing but rational values, and finds his joy in nothing but rational actions.
In times of crisis human beings don't have it in them to be rational.
The rational is apprehended through the intellect, however, the intellect is not found in the region of the rational; the intellect is as the eye and the rational as the colors.
The three main extra-rational activities in modern life are religion, war, and love. all these are extra-rational, but love is not anti-rational, that is to say, a reasonable man may reasonably rejoice in its existence
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