Bitcoin Forum

A good read:
http://mises.org/daily/6945/When-Money-Dies-Germany-and-Paper-Money-After-1910

Thanks for sharing.
I have been loving your posts lately.

Impressive.

Great article, thank you for sharing :)

I thought this was going to be about Beanz LOL

And that is why we have bitcoin coming into the picture now

Thanks for sharing I'll add that to my reading list and will weigh in on anything which I think needs to be discussed later.

Thanks. This might be the cure for the insomnia caused by the price crash.  ;D

Good article however my lack of history economics knowledge made some things harder to understand

Still don't get why people are losing sleep over the price crash. We should all be used to this by now.

Simple, when money dies, Bitcoin prevails. It's as simple as that. Bitcoin was invented for that very moment.

No no no no. First, Mises is not a good reference. There is a reason the vast majority of econ professionals look at the Austrian school like an embarrassing little brother.

Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.

Austrian school that is annoying because it is right all the time and the big brother with the power hates being reminded about it all the time.

And thank you for making your view on Bitcoin clear instead of just trolling. My ignore list welcomes you. If I wanted to discuss the dollar I would go to bankrate.com.

This is a big part of why Bitcoin and Mises aren't taken seriously. Folks manage to, at the same time, be supremely sanctimonious and plug their ears of any different lines of thinking.

Yes, but i have the fear the dollar supremacy can reinvent itself and keep growing forever.

your right, we should take the monetarist/Keynesian scam that destroyed world markets twice (soon to be three) in the last 14 years seriously.

why do we even play games with money printing and interest rates, working so hard to prop prices up.
lets just skip right to a north korean command economy model and dictate what the price of everything should be and be done with it.

Well, it makes sense to take the dominant model seriously, since it is at work every day. I don't think you can lay all these evils at the feet of an economic model, however, that's simply lazy thinking.

Were those the days were you had to carry money in the barrels just to buy a loaf of bread? The hyperinflation in the 20s Germany? It might happen anytime soon these days. Paper is just that - paper.

Kind of misleading.

Fiat might die, but money will not. Society always find a way to exchange good using a medium of exchange (aka money).

http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/germany/crisis1923rev_print.shtml

People collected their wages in suitcases. One person, who left their suitcase unattended, found that a thief had stolen the suitcase but not the money.

After reading that book, be sure to read "Fiat Money Inflation in France" by Andrew Dickson White:

Read online:
https://archive.org/stream/fiatmoneyinflati00andrguat#page/2/mode/2up

or download here:
http://www.gutenberg.org/ebooks/6949?msg=welcome_stranger

Let's be more precise: one currency can die. This is what happened in Germany 90 years ago.
All currencies are not equal.

many factors that can make a fiat currency can die, but not all factors may occur simultaneously and not necessarily those factors could apply in a country, a factor which makes the currency of the country may die, distrust of the currency markets that exist and exchange rates the very little impact on currency trading that are excellent as the dollar ...  :o

The only talked about alternative to "no money" is RBU. Going back to gold standard is even more delusional than that.

There are so many reasons that one currency could die. And if that happens, it would simply be replaced with another one. Paper currency is backed-up by an issuing countrys gold reserved, thats why they cant just print money. Over printing would lead to a lower value of that currency.

when money dies we all get back to barter economy or other

Man, it sure would be easier if we could barter using an efficient means of exchange that everyone recognized...

Yeah btw, money as in paper money is dying a slow painful death, it will take decades but it will die, it's brain dead and on machines now kept alive by banksters and conmen in the governments.

Thanks Nostradamus. Any other vague claims?

Just look at the amount of physical money (notes and coins) versus the total money supply. If everybody tried to withdraw their money from banks, it just wouldn't be possible. Paper money has been replaced by 1's and 0's on a network.

money never dies  ;)

Very interesting article. Thanks for sharing.

Bingo!

I will read the article, thanks.

When USSR wanted money to disappear through inflation it went bad. When the USD, EURO and Yen  will implode, people will still be able to exchange Gold and Bitcoin ;)

Money can die,
maybe yes...

Money just made by wood

But we can use other medium transaction like gold or silver

Not so fast. The only thing most people do with the bitcoin is buy money. For as long as bitcoin is tied to fiat it will not become real money. To make bitcoin real money we need to create an economy around it. This means we need to trade bitcoins not just simply for goods at a store but also for property such as cars and land. In addition the bitcoin will need to enter the stock market. As of today the bitcoin cannot replace money.

One one currency fails, another take over. Money will never die.

Year 3000. Once automation has replaced 99% of human labour... where is the place for money there?

Human labour is only part of the production process. The process can be automated, but production itself still requires energy, raw materials, and real estate, all of which are in finite supply and must therefore be traded in some way (such as money).

Year 3000. Once all of the Earth's natural resources are mapped, quantified, and there is no need for labor, who decides what is traded and its price?

A subspecies of Roko's basilisk that charges obscene prices to people who opposed the automation of all labour?

Without labor, where will Roko's customer's with money come from?
edit: I'd not seen that argument. It's silly.

+1000

always find
exchange good