Economists have know for 500 years that a currency must have some inflation, otherwise people will hoard it and it will not be available for use as a currency. During the past 500 years, there were long periods of effectively zero inflation where economies boomed. In the industrial revolution in Britain, for example. Also, I don't think there was such a thing as an economist 500 years ago. Gold and silver coins kept the price for a pint steady as a rock for hundreds of years. Gold and silver has been the most trusted currency for a long time and it is inflationary. There will always be a supply of new gold and silver. Unlike fiat there is nobody that can manipulate the inflation of gold and silver. A crypto could have a built in inflation that simulated gold and silver. You know what that crypto is called? Bitcoin. Besides, nobody knows the complete above and below amount of gold. There are some numbers, but you can't trust them if you ask me. What if you found a 10000 kg pure gold meteorite in your back yard. You wouldn't tell anybody if you're smart. That's one of the reasons why bitcoin is superior to gold. We know the exact current and future supply, no secrets. |
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How come that chart shows Bitcoin shooting up from $150 to $1000+ in November 13, but their funds only went up a tiny little bit in November 13? If their strategies are so great then their funds should have increased in value faster than Bitcoin back then. Why did Bitcoin shoot up in value in November 13, but their funds didn't? Anyone holding Bitcoin back then could make money just by sitting back and watching it shoot up in value
They probably only count the dollars when they've sold the bitcoins. Once you have bought bitcoin, you can't say you hold dollars. Once you sell the bitcoin, you get dollars again. Therefor, when the price dropped, their chart goes up because they're selling bitcoin to covert them for dollars. Obviously they count their gains in dollars. |
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Economists have know for 500 years that a currency must have some inflation, otherwise people will hoard it and it will not be available for use as a currency.
These wonderful economists who created hyperinflating fiat currencies over and over again? And what about mining? You still don't get that part? Mining = inflation, but with a known and decreasing supply. |
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This thread is getting awesome again.  |
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We will see soon, people are even paying for a slave and shit job...  None are more hopelessly enslaved than those who falsely believe they are free. -- Johann Wolfgang von Goethe Take profit with your knowledge. |
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Bullshit, technology will soon destroy all jobs and even only one human alone in the entire world will be unemployed.
Thats why politics, corporations and bakns are just stealing everything they can before that happen, they know it will happen.
Bullshit. First technology invented (the wheel) did not create unemployment. It created human progress and a higher standard of living. Even the wheel needed maintenance and improvement which created jobs. |
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what i think that every problems about financial crisis and everything else is only imputable to one thing, that everyone is udnestimating, this is the overpopulation
if we were 1B at max i'm sure this world would have been a better place, from every point of view
Overpopulation is eugenesic bullshit, same will happen in a super technological society with 7b, 1b or 100k people... no it isn't, it's the evil of the all thing, on this world, if there were few people in the world, less job would have been needed and there would be a condition to create more without overwhelming it no intensive farming, less smog, less pollution of any kind etc, the list is so long is not even funny.... we have exceeded the good ratio between max population and what they need That's only true because people spend more than they deserve due to unlimited printing of value tokens. Remove the current financial system and there could be an opportunity to equilibrium again |
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what i think that every problems about financial crisis and everything else is only imputable to one thing, that everyone is udnestimating, this is the overpopulation
if we were 1B at max i'm sure this world would have been a better place, from every point of view
Overpopulation is eugenesic bullshit, same will happen in a super technological society with 7b, 1b or 100k people... You cannot even measure overpopulation reliably when evening is driven by an unlimited supply of value tokens (fiat) Once the money supply is limited and economies run on it you can tell if there is overpopulation or not |
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What do you think about this phrase told it by Simon Dixon: our financial problems are derived from money, “simply because money is debt.”
Money is a ledger to keep track of when who did what. If you create ledger inputs without being productive (print fiat), you are counterfeiting. Financial problems are created by the ones who counterfeit (large central banks). |
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great way to create positive pr coin wallet, everybody loves you and supports your service...oh wait.
If I was an evil competitor I would user their name for this stress test. |
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I have been away for a week and I don't see how I can read the how ever many 100s of posts I missed.
Has anything important happened during that time?
Thank you
Yes, bitcoin died a few times. Just as usual. |
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Julio Faura, Santander : "Micropayments and Internet of Things will be one of the game-changers. The whole thing will change when Central Banks issue currency on distributed ledgers."  OMG, that means even more blockspace to buy! |
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I want to have some bitcoin private key cards in my irl wallet to hand out to interested people or charity collections.
I prefer plastic or plasticized cards, standard business card size.
Preferable these cards have a scratch layer to reveal the private key for spending.
Public key should be visible all the time.
Cards should be unloaded, I will do that myself when necessary.
I've searched the internet, but I could only find preloaded (high value) gyft cards.
I want to load them myself with some dust.
Anyone?
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And this is why money should have a high level of utility so that it is moving from one hand to another instead of held like a pet rock (gold).
Bitcoin is such money because it got an insane level of potential utility.
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Fuck your law, statist.
I'm certainly not a statist, quite the opposite. So tell me, who is going to enforce this law? |
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Don't worry about a law, just make sure you hold the 'real' thing.
Not taking ownership of your precious metals it is almost the same as using a bitcoin wallet at an exchange where you do not have the private keys. The exchange can close down at any time and you are left no way to get your coins out so you are left with nothing.
To sum it up: Then you're goxed. |
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It is very clear that any commodity can be manipulated with paper. We as a community need to be very careful not to let this happen to Bitcoin, since it is apparently not illegal (yet).
Yes. It's a free market. Do you want to ban future contracts/markets? Future contracts are as old as the market (mesopotamia). I want there to be a very strict law ... Fuck your law, statist. Free market will decide, not your laws. Besides, exchanges already running fractional reserve, live with it and if you don't like it (like me) don't give them your coins. Mt. Gox users learnt it the hard way. |
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'puke level'/maximum pain has not been reached yet. I do not see the total abandonment like the $2 period in 2011. But on the other hand: BTC is not a small puppy any more so history may not rhyme.
It doesn't repeat and it has already rhymed. |
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Don't you have your XT circlejerk forum now? Why don't you stay over there?
It's not about XT. XT is only one of several new proposals to remove the limit. Yep, and not of them is any relevant until they get into core  Blocksize will be increased.Like or not.Laugh as much as you. We will see bigger Blocks!!It's inevitable. The majority of the community wants it.The big BTC companies want it.Big part of the Miners are in as well.So no doubt. The "community" you speak of, ie. general redditards and bitcointalk users, are not representative of the bitcoin holders. As such, their opinion is as irrelevant to those of "big BTC companies" (corporate bankers shills trying to capture Bitcoin) and the other power hungry miners who don't know better.
You might get a block increase, but you will be sorely disappointed by its scale and its results.
I'm fine with this. How can you tell? He can't, it's just speculation. Well people, spend all your coins on the longest chain supporting bigger blocks. I'll spend mine on the shorter chain and make sure my coins are backwards compatible. (Or don't spend them at all if there is a block size increase) |
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