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21  Alternate cryptocurrencies / Altcoin Discussion / Re: Walmart Confirms Litecoin Partnership Is Fake on: September 14, 2021, 09:27:06 AM
There are many such acts of using fake news to manipulate the market. If someone can make a table of all the price fluctuations caused by fake news, I guess this table will be very interesting.

Or where can I get comprehensive "fake news"?
22  Other / Archival / Re: Exposing RainbowKun and His Large Alts Army. Big farm 60+ Accs !!! on: August 29, 2021, 03:22:55 PM
Also, if you are so sure about his situation why haven't you given him a red trust yet? Back in the day he wouldn't have survived an hour without getting tarred and feathered by the DT. This forum is indeed dead.
But as for everything else, there is no explanation. Well, it's just all a coincidence, and 60 Chinese people, cloned, with the same thinking and habits, came to the forum to sow knowledge. Cheesy
Feel free, but please be careful not to mention my name.
Don't mention my name again.

But if you want to analyze my psychological activities or hobbies, please PM me. I am still interested in these topics. Lol
23  Economy / Economics / Re: Not communism: The real cause of hyperinflation in Venezuela on: August 29, 2021, 02:44:58 PM
And no one says that the problem of Venezuela is communism and Maduro's stupid head!
Obviously someone said that, I will write a topic to respond:Enjoy comunism: Venezuela raises monthly minimum wage to $2.40

I think that in order to realize communism, we must first improve productivity. Imagine that when science and technology are very advanced, if we can complete a lot of work with very little labor, then capitalists will inevitably dismiss a large number of workers in order to increase profits. Then how to solve the workers’ lives is a problem.
24  Other / Meta / Re: What is your favorite post or most memorable moment on this forum? on: August 29, 2021, 02:31:58 PM
79 today and still going strong

Although more than 2 months have passed since @Jet Cash’s birthday, I still want to wish him a happy birthday.

I wish I was as energetic as I am now(19)when I was 79.Continue to be active in the forum may be one of my goals.
25  Economy / Economics / Re: Nothing about communism: The real cause of hyperinflation in Venezuela on: August 28, 2021, 01:03:08 PM
The real cause of hyperinflation in Venezuela is a combination of continuous printing of fiat, corruption of the government officials and zero to no investment in public service. It's not communism there, I think they have socialism which aims to satisfy the needs of the people first before anything else which is a bad move for them.

Not only the officials are corrupt. The whole country is. These government guys did't come from a different country. They are Venezuelan people. The other stuff like printing FIAT and socialism are not even significant compared to the fact that these people are corrupt. Cuba is socialism too but we don't hear them bitching or dying of hunger.
So in the end, whether people in a country starve to death has nothing to do with communism, socialism, or capitalism.

What determines their living conditions is the level of national development and production efficiency. It can even be said that the welfare and health care system is built on high production efficiency.
26  Other / Archival / Re: Exposing RainbowKun and His Large Alts Army. Big farm 60+ Accs !!! on: August 28, 2021, 07:22:41 AM
~

Kunyuan Original Serial 6'' blockchain is a switch for human beings to evolve from carbon-based to silicon-based civilization (https://www.xuehua.us/a/5eb64dfe86ec4d3b43531c61)
There is a QR code at the bottom of the article. I think you can add what you said "KUNYUAN" as a contact to verify if it is the original author. Download a wechat. Why don't you investigate further since this step has been investigated?

I just added KUNYUAN, but no response so far.

I desperately need Rainbowkun to prove himself. This way I can get rid of the alt tags imposed on me.

I tried to reply to that article by Ratimov, but I gave up. That post is too confusing. But ratimov mentioned my name again today, accusing me and them of using the same image conversion website.

The Ghoul:

Code:
https://i.loli.net/2021/08/05/8og1IRLrmucaz7t.png

Code:
https://i.loli.net/2021/08/05/LA1mM9y7VcUgk8Q.png

https://sm.ms

This website is my most frequently used website. Yes, I am Chinese. If you search for "图片转换成链接" in google. sm.ms is the first few searches in google.



Yes, they gave me another tag.. I think I have to go to Ratimov’s post to explain....
This is all my explanation of this matter. Don't mention my name again.

What is loli.net, to be honest, I haven't studied it carefully. I don’t think it’s the meaning of pornography mentioned above...I only know that this website can convert my pictures into bbcode.(If you have a better picture converted into bbcode website, you can tell me, I will try to use.)

27  Other / Meta / Re: The forum culture is to kill all newbies? on: August 28, 2021, 07:15:32 AM
Download a wechat.

How does wechat solve anything? You could easily sockpuppet multiple chats.
The link to the Chinese article mentioned by nutildah above is an article from 2018. Below the article is the author’s contact information: the WeChat QR code.
Just contact him and let him prove that he is rainbowkun.I tried to do this, but there is no response at the moment.

What does "sockpuppet" mean? Is it a technical term?

28  Other / Meta / Re: The forum culture is to kill all newbies? on: August 28, 2021, 05:40:42 AM
~
Because I was really angry at the time, and of course that was the first time I used the trust function. If Rainbowkun’s matter is resolved, I will automatically delete his negative trust.

I don't want to hurt anyone for no reason.
29  Other / Meta / Re: The forum culture is to kill all newbies? on: August 28, 2021, 03:30:48 AM
Kunyuan Original Serial 6'' blockchain is a switch for human beings to evolve from carbon-based to silicon-based civilization (https://www.xuehua.us/a/5eb64dfe86ec4d3b43531c61)
There is a QR code at the bottom of the article. I think you can add what you said "KUNYUAN" as a contact to verify if it is the original author. Download a wechat. Why don't you investigate further since this step has been investigated?

I just added KUNYUAN, but no response so far.

I desperately need Rainbowkun to prove himself. This way I can get rid of the alt tags imposed on me.

I tried to reply to that article by Ratimov, but I gave up. That post is too confusing. But ratimov mentioned my name again today, accusing me and them of using the same image conversion website.

The Ghoul:

Code:
https://i.loli.net/2021/08/05/8og1IRLrmucaz7t.png

Code:
https://i.loli.net/2021/08/05/LA1mM9y7VcUgk8Q.png

https://sm.ms

This website is my most frequently used website. Yes, I am Chinese. If you search for "图片转换成链接" in google. sm.ms is the first few searches in google.



Yes, they gave me another tag.. I think I have to go to Ratimov’s post to explain....
30  Economy / Economics / Re: Nothing about communism: The real cause of hyperinflation in Venezuela on: August 28, 2021, 02:04:33 AM

In any case, I don't care where he is from, he seems to think communist regimes are wonderful, and that only happens if you are very close to those who are in charge. As a fellow forum member told him:

Dear CCP representative, Welcome to Democracy 101.
Please do not quote other irrelevant posts.

I elaborated on the hyperinflation in Venezuela. topic quoted from an economics article.

I did have a fierce quarrel with amishmanish, but it did not hinder this topic.

I gave you another post with a merit.And I will continue to update my not communism series. Wink
31  Economy / Economics / Not communism (II):Worsening inflation caused Venezuela’s economic recession on: August 25, 2021, 06:43:28 AM
I mentioned in a previous article: Neither "Dutch disease" nor "abnormal trade" can explain Venezuela's current economic recession and hyperinflation.
Not communism: The real cause of hyperinflation in Venezuela

The root of Venezuela’s economic problems lies in the failure of domestic economic policies and the resulting inflation, which is embodied in Venezuela’s deteriorating domestic inflation, which eventually evolves into super inflation. Deteriorating inflation is the root cause of a series of domestic economic problems in Venezuela and further leading to economic recession.


Deteriorating inflation has a huge impact on Venezuela's economic growth.

Venezuela’s GDP growth rate reached a high point of 5.6% in 2012, and has since turned into a continuous decline. At the same time, 2013 was the year when Venezuela’s CPI turned to a rapid rise, reaching 40.6% that year, breaking the previous average (2002). -The average CPI of Venezuela in 2012 was 23.3%).In the five years from 2012 to 2016, there was a sharp contrast between the decline in GDP growth and the rise in CPI. We can even think that during this period of Venezuelan economy, for every 10% increase in CPI, the GDP growth rate will drop by 1%.


It can be considered that the rapidly rising inflation has brought three significant effects to Venezuela's economy and government fiscal system.

  • 1.Through the Olivera-Tanzi effect, the government's fiscal revenues and expenditures have deteriorated.

Quote
Oliveira-Tanz effect refers to the fact that due to the significant time lag between government revenue (nominal currency revenue) between the time of collection and the time of expenditure, rapid inflation can lead to a significant decrease in the actual purchasing power of fiscal revenue, which in turn causes fiscal revenue and expenditure facts The deficit or expansion of the deficit. For example, if prices rise by 50% within half a year, if fiscal revenue in the first half of the year is arranged for expenditure in the second half of the year, its actual purchasing power will drop by 25%. In this way, the government will have to increase nominal fiscal expenditure in order to maintain the actual effect of fiscal expenditure.

  • 2.Promote the shift of output and employment to the underground economy, further eroding the government's tax base.

With the slowdown and decline of export revenue and fiscal revenue, the Venezuelan government has continuously strengthened its artificial control of the foreign exchange market and prices, and price distortions abound in the domestic economy. Rising inflation has further stimulated people to engage in speculative activities.
Tax evasion and irregular employment have become regular behaviors of ordinary people in Venezuela. In this economic environment, government taxation and fiscal pressure will inevitably increase day by day.

  • 3.Hinder export growth.

The Venezuelan currency, the Bolivar, has been depreciating continuously on the foreign exchange black market since 2003, but the depreciation of the official exchange rate has been seriously lagging behind the market exchange rate. The rise in domestic inflation has caused a real appreciation of the domestic currency on the one hand, and a shortage of foreign exchange on the other. Faced with the shortage of foreign exchange, the Venezuelan government has continuously strengthened the control and rationing of foreign exchange resources, which objectively led to the further deterioration of expectations of devaluation and domestic inflation.



The economic history of many Latin American countries since the 1970s has repeatedly shown that high inflation is the main manifestation of macroeconomic instability and the most important factor hindering economic growth and recovery. The high inflation rate in Venezuela after 2013 is the root cause of the country’s economic disaster.


Opinion Source:International Economic Review/2017/No. 6
32  Economy / Reputation / Re: Can someone with data crunching skills help me out with account linkage? on: August 24, 2021, 12:49:06 PM
~
So you suspect that I and HaleyOccam are the same person? Do your words with colors have any meaning?

I can only say that not only your words are colored, you also wear a pair of colored glasses.

Don't pretend to have a pair of detective eyes. The pattern you found this time may not even be convinced by yourself. Even the humility of these newcomers is regarded as the sophistry of the same person?

The fact that The Ghoul and HaleyOccam, who came running here to make excuses, are the same user who cheats on the forum, I think, is beyond doubt. They bury themselves even deeper with their reactions.
1. I never knew the name HaleyOccam before this
2. Please tell me the reason why you connected me to him/her

Sir, you are one of the people I respect most in the forum,I believe you are just. Please be fair for me,Thanks!!

There is nothing wrong with the crime you want to add.

Unnecessary charges were imposed on me, and I have to say that I am sick.

I hope you find the evidence that you say as soon as possible.

What I see in my eyes is a group of bandits who bully newcomers by virtue of their earlier background in the forum.

Whatever you say, I have never violated the rules of the forum. You just report it, I don't care.


Timelord2067,very good.You are very talented. I suggest you buy an intelligence book for children to find regularity. I guess you can break the world record. Grin

black star=dark star ?

I left the forum for a while during the bear market to cool off without the mistakes I made on this forum. I recently noticed that my profile has been tagged by Timelord2067 with the tag "Not an alt of DarkStar_ u=507936". I don't know DarkStar and I have nothing to do with him so people don't need to connect me with anyone on this forum including DarkStar.

I have a username that might be similar to DarkStar "_BlackStar", but is that something to be considered reckless on my part that someone should tagged me as non-alt DarkStar? What is this for? Should Timelord2067 tag me and tell people I'm not alt DarkStar?

I feel a little intimidated by the Timelord2067 review or tag on my profile, this makes me think that this forum doesn't give me the right to choose the username I want.

Read your post. It’s not difficult to find that you are a gossip, a slander expert, a master at finding regularity, and a trust system abuser.


Feel free to check any of my posts, merits, login time, words, and punctuation.

I gave you a negative evaluation, you must be responsible for what you do.
33  Economy / Reputation / Re: Can someone with data crunching skills help me out with account linkage? on: August 24, 2021, 08:31:49 AM
~
First of all thank you sir, you have played a very good guide to my novice career:[GUIDE for NEWBIE] Merit-help from other users, how to use them correctly?

sir, I'm surprised I appeared on your suspicion list.

I reviewed all my actions on the forum and did not find any violations of the rules.

I have never plagiarized, all posts are through my own thinking. Never beg for merit. Never used an alt account.

You can view all my posts one by one, especially those topics. They consume my energy, and I also learned a lot in the process of publishing the topic.

I have not posted any spam. I have not participated in any bounty and don’t plan to participate in the future. To be honest, I am not short of money, I have benefited a lot from investing in cryptocurrency.

What I care most about is my credibility. I think it’s an insult to me and everyone else on your list.

But if many people on this list are innocent, I don't know what other people on your list think. But this list really hurts my self-esteem.

You are one of the people who have contributed the most to the forum, and I have always respected you. Thank you for your contribution.

@The Ghoul claim live in China.
I never thought of concealing it, I don’t have to lie.
It is too funny to judge that this is a batch of alt accounts based on nationality alone.
There are 1.4 billion people in China, This reminds me of a Foreign friend of mine telling me that his ex-girlfriend is Chinese, and he asked me if I knew her. This was a joke.It’s hard for me to know his ex-girlfriend from 1.4 billion Chinese.

-------------------
If you reject me because our login time is in the same time zone and the names are not normal foreign names. This behavior is no different from the American genocide of Indians.

If someone on this list uses an alt account to do bounty, it deserves to be banned. But I don’t accept these groundless accusations.

34  Economy / Economics / Re: Nothing about communism: The real cause of hyperinflation in Venezuela on: August 21, 2021, 06:15:12 AM
Inflation is the disease and cancer that ravages the body of the economy, and the delay in taking solutions to it will make the possibility of solving any economic problem a real dilemma.
The Venezuela crisis is witnessing a mixture of many crises, the most prominent of which are many internal factors such as corruption and mismanagement, random printing of money and a decline in purchasing power. And many external factors, some related to the nature of the economy and the other political.

It's an extreme example of economic failure.
Yes, as I said in the topic. The reasons for Venezuela’s economic nightmare are complex.

Whether it is the Dutch disease caused by a single industrial structure or the economic sanctions imposed on Venezuela by the United States and other countries, they have a certain impact on this inflation.

But these are not the most important reasons. Venezuela could have survived this crisis steadily by relying on the foreign exchange reserves accumulated by previous oil sales.

Quote
During the international financial crisis (2009-2010), as the Venezuelan government continued to expand fiscal expenditures on a large scale, its foreign exchange reserves were gradually depleted, and the market exchange rate accelerated its tendency to depreciate. Beginning in 2013, coupled with domestic political turmoil, the tendency of market exchange rate depreciation has become more serious, which in turn promoted domestic inflation. As mentioned earlier, after the surge in domestic inflation, the growth of foreign trade was further frustrated and the growth of fiscal revenue was weak. The Venezuelan government had to resort to monetary policy to maintain fiscal expenditures, which in turn triggered a rise in inflation expectations and actual inflation, which eventually became out of control.
35  Economy / Economics / Not communism: The real cause of hyperinflation in Venezuela on: August 20, 2021, 07:07:09 AM
These have nothing to do with communism, and there is no need for such a topic to cause opposition.
Enjoy comunism: Venezuela raises monthly minimum wage to $2.40
Enjoy comunism (II): Venezuela to cut 6 zeros from its currency


Venezuela has seen an increase in inflation since 2013, and fell into a super-inflation vortex at the end of 2016. At the same time, Venezuela's national economy began to decline in 2014, and the negative GDP growth rate in 2016 was as high as 18%. Venezuela has become the only country in the world that faces both super inflation and deep economic recession.

The two currently popular explanations-"the Dutch disease" and "abnormal trade theory"-are not sufficient to explain Venezuela's economic disease.


  • the Dutch disease:
Quote
In economics, the Dutch disease is the apparent causal relationship between the increase in the economic development of a specific sector (for example natural resources) and a decline in other sectors (like the manufacturing sector or agriculture). The presumed mechanism is that as revenues increase in the growing sector (or inflows of foreign aid), the given nation's currency becomes stronger (appreciates) compared to currencies of other nations (manifest in an exchange rate). This results in the nation's other exports becoming more expensive for other countries to buy, and imports becoming cheaper, making those sectors less competitive. While it most often refers to natural resource discovery, it can also refer to "any development that results in a large inflow of foreign currency, including a sharp surge in natural resource prices, foreign assistance, and foreign direct investment".

The term was coined in 1977 by The Economist to describe the decline of the manufacturing sector in the Netherlands after the discovery of the large Groningen natural gas field in 1959.
Venezuela's economic structure does have the characteristics of "Dutch disease", that is, it is highly dependent on the exports of a single industrial sector. However, many economies that also have the characteristics of "Dutch disease" have only experienced an economic slowdown after the international oil price fell since 2014, and there is no such a serious economic recession as Venezuela. Moreover, Venezuela, like other countries with similar economic structures, has accumulated a large amount of foreign exchange funds during the period of high oil prices. These resources would have been sufficient to deal with the problems of falling oil prices and economic downturns.


  • abnormal trade theory:
There is a view that an important reason for Venezuela’s current economic recession is Venezuela’s tensions with the United States and the United States’ trade sanctions against Venezuela.

By comparing the changes in bilateral trade between the United States and China and Venezuela in recent years, we can also see that the two are very similar. This shows that political factors or foreign relations are not the real reason for Venezuela’s serious difficulties in import and export trade. The decline in international oil prices in 2014 did have an adverse effect on Venezuela’s export growth, but the decline in Venezuelan exports was earlier than the change in oil prices. This once again shows that the changes in Venezuela's foreign trade and economic situation are mainly related to domestic factors.


The main reason for the Venezuelan economy to slip into the predicament of super-inflation and deep recession lies in the country, which lies in the mistakes of the Venezuelan government's economic policies, including excessive fiscal expenditure policies and improper foreign exchange control measures. The Venezuelan government may have placed too much emphasis on the positive effects of foreign exchange control measures in the short term, but has overlooked their long-term negative effects. When the foreign exchange resources held by the government are nearly exhausted, the depreciation expected by foreign exchange controls has rapidly increased, leading to an overall deterioration in domestic inflation expectations and actual inflation.

1.Continue to expand fiscal expenditure when the economy slows down, consuming the previous reserve resources.

2.Excessive and improper control of the foreign exchange market.



Improper control of the foreign exchange market is undoubtedly the main reason for the current dilemma in Venezuela. In order to eliminate inflation expectations, the huge difference between the official exchange rate and the market exchange rate must be narrowed. From this perspective, the Venezuelan authorities have two options if they want to overcome the emerging super inflation and economic recession.

1).Strengthen price control and even move towards full control, close the 2,000-kilometer border with Colombia, completely cut off all economic exchanges between the domestic private sector and the outside world, and cut off the private sector’s channels of contact with the market exchange rate; at the same time, further strengthen the control of prices , To weaken the public’s expectations of devaluation and inflation. The difficulty of this path lies in the effectiveness and stability of policy implementation.

2).Implement major economic policy adjustments with international assistance, abolish foreign exchange controls, and shift to full relaxation. Comprehensive control cannot continue to play a role in the long-term, and the removal of foreign exchange control is the fundamental measure to eliminate the difference between the official exchange rate and the market exchange rate in the medium and long term.

Opinion Source:International Economic Review/2017/No. 6



36  Bitcoin / Bitcoin Discussion / Re: Bitcoin are not by nature money, but money consists by its nature of bitcoin? on: August 13, 2021, 09:28:23 AM
Bitcoin is a digital currency because it can be spent P2P
This is the mission of Bitcoin, but to be honest, it’s better to call it digital thing. It is not a general equivalent
Quote
Bitcoin is money because it has intrinsic value

Intrinsic Value (Intrinsic Value) is also known as: Non Use Value (NUV)

Intrinsic value is also called non-use value, which is the value that is inherent in the thing itself and does not exist or change due to other related things outside of it. Existence value (EV) is the most important form of non-use value. Existence value is obtained from the satisfaction of only knowing that the asset exists, although there is no intention to use it.

1.The intrinsic value of an enterprise is the present value of future cash flows. The basic variable that determines the intrinsic value of an enterprise is not the past book asset value and current book surplus, but the size and speed of the company's future free cash flow. The ability of an enterprise to obtain cash is the basis of value evaluation and the main basis and core of financial risk evaluation.

2.The intrinsic value of stocks refers to the present value of future cash inflows from stocks. It is the true value of stocks, also called theoretical value. The future cash inflow of stocks includes two parts, one is the expected dividend, and the other is the income from the sale. The calculation methods of the intrinsic value of stocks include discounted cash flow and price-earnings ratio valuation. However, the actual trading of stocks may not necessarily reflect their own intrinsic value, and it is also affected by factors such as market sentiment.

3.The intrinsic value of a warrant refers to the difference between the price of the relevant asset and the exercise price, that is, the profit from the exercise of the warrant. It is equal to the positive difference between the strike price and the current price of the relevant asset after considering the conversion ratio. The intrinsic value of each unit of the warrant = (related asset price-strike price) / conversion ratio The intrinsic value of each unit of put warrant = (strike price-relevant asset price) / conversion ratio is impossible due to the inherent value of the warrant It is a negative number. If the calculated value is negative, it will be replaced by 0.

Maybe the definition of finance is a little bit different from what we understand. I need to study the intrinsic value you mentioned.

There seems to be no necessary connection between the two. The current currency has no intrinsic value, but serves as a general equivalent.

Quote
Bitcoin is also an asset, an appropriative one because it is deflationary and do reach all-time-high
It is indeed a good asset.

4. To use Bitcoin, you need to learn some knowledge, while gold and silver don’t need to learn complex knowledge.
You are right, but we should not exaggerate on this, to make use of Bitcoin is not that hard if someone is ready to make use of it. But the most important part is to learn ways to avoid scammers.
Yes, it is not difficult if you want to learn Bitcoin. Just like people use online shopping, you don’t need to learn the basics of the Internet, you just need to use it.
37  Bitcoin / Bitcoin Discussion / Bitcoin are not by nature money, but money consists by its nature of bitcoin? on: August 13, 2021, 09:02:25 AM
Marx mentioned in "A Contribution to the Critique of Political Economy"
Quote
Gold and silver are not by nature money, but money consists by its nature of gold and silver.

1. "Gold and silver are not by nature money" means that gold and silver are not inherently currency. Because gold and silver first appeared in the market as a general commodity, only when the commodity exchange developed to a certain historical stage, a fixed commodity of equivalent value was needed as a medium of exchange, called general equivalent, when the general equivalent was concentrated on gold and silver.  When gold and silver are fixedly used as general equivalents, it is currency. Because gold and silver do not become currency as soon as they come to the world.

2. "money consists by its nature of gold and silver", which means that money should be born of gold and silver, or that gold and silver are born with the excellent characteristics of being currency, which is determined by the natural properties of gold and silver.

So can we deduce the process of Bitcoin becoming a general equivalent from the process of gold and silver becoming a general equivalent?


1.gold was very valuable in ancient times.

The ancient smelting technology is relatively poor, and it is impossible to make copper, iron and other metals into exquisite utensils. You can only choose metals with a relatively low melting point and corrosion resistance as smelting materials. Since silver will become black after air oxidation, it is desirable to preserve the utensils for a long time. Must choose gold as the material. Since the output of ancient gold and silver was very low, the value of gold and silver was guaranteed to be high.

2.Gold and silver, especially gold, were not suitable as a standard currency in ancient times. As a currency, precious metals have the following disadvantages:


  • The output is too small to support social and economic development

Almost all the large gold and silver mines discovered by humans are in Africa and America, not within the scope of the ancient civilized world.

  • The value is too high to be used in daily transactions, and the loss of segmentation is too large

The gold cakes of the Han Dynasty,China, weighed 250 grams each and were valued at 13,000 dollar, which were not used in most transactions. However, if you divide a large piece of gold and silver, there will be loss in the process of dividing and recasting.

  • The quality is mixed, ordinary people can hardly identify

Not to mention the ancients, even the current experts and scholars can hardly judge the specific content of gold and silver in gold and silverware without the help of professional instruments.


These three difficulties have become important factors preventing the large-scale use of gold and silver as currency in ancient societies. In ancient, cattle, salt, and tobacco were generally used as trading intermediaries.

When a large number of gold and silver mines were discovered later, gold and silver were generally used as currency. Later, the gold standard as we know it originated in the United Kingdom. Due to the discovery of a series of large gold mines in Africa and America, the price of gold began to fall. This currency system was first proposed by Newton and fixed the price of gold per ounce at 3 pounds, 17 shillings and 10.5 pence.

In 1797, the United Kingdom announced the coinage regulations, issued gold coins and stipulated the gold content.
In 1816, Britain passed the "Gold Standard System Act" and began to issue paper money with gold as collateral, and the British gold standard was formally established. This situation continued until the World War I.

The fundamental reason for the establishment of the gold standard is not the rarity of gold, but the skyrocketing production of gold, which happened to be controlled by the world's most powerful Britain at that time;If Spain is the world's largest country, I guess it will implement the silver standard.


According to the formation trajectory of the above gold standard.Can we deduce what it takes for Bitcoin to become a currency?
1. Segmentation, this does not need to be resolved for now. Bitcoin can be split to 8 decimal places
2. The total amount is small, the same reason as above. The reason why Satoshi Nakamoto set the total amount of Bitcoin at 21 million seems to be based on the global economic aggregate at that time
3. No major economy promotes Bitcoin. This economy needs to hold a lot of Bitcoin. And it has a lot of voice in the world. Similar to Britain at that time
4. To use Bitcoin, you need to learn some knowledge, while gold and silver don’t need to learn complex knowledge.
5.Does Bitcoin have its intrinsic value? Except for the energy and equipment required for mining to give it a certain value, there is no value that ordinary people understand. Such as: a vase made of gold can be stored for a long time, so gold is very valuable.

opinion source:https://www.gold.org/cn/page/9372
38  Economy / Economics / Re: China - everything is fine! But everything is bad ... on: August 12, 2021, 12:42:19 PM
Your language and comprehension coupled with your over-confidence makes it nearly impossible to have a debate but we try to be as open to ideas on this forum as possible.
It seems that the most confident person is you.You are a “definition king”.Let me enumerate the definition you have made:
  • 1.just indicative of your communist background
  • 2.CCP puppet
  • 3.Dear CCP representative
  • 4.CCP apologists
In addition, you are not discriminating against the opinions expressed by me. You are really discriminating against me.
Quote
It seems that you have also gone on to cry about discrimination in Meta, so I'd like to convince you that none of this is about discriminating against you as an individual but about the philosophy you are trying to propagate.

I don’t know what your definition of cry about discrimination is. I just simply ask whether there is discrimination. To explain this objectively, do you understand it as cry?
Quote
You will never convince the free people of the world, much less bitcoiners, that an optimal method of scoial governance needs an over-arching central authority "managing" the best for everyone else.
Which government in the world is not a central authority? This is not what I said, this is what the history of mankind has told us for thousands of years. Those countries or groups that have centralized power have all perished in the course of history.

Quote
Your reply to my point about idiomatic usage of "All people are free to vote and express" in context of democracies just shows that your brain is unable to even comprehend democracy. Like i said earlier, lets leave it at that. You have already shown your true colors with expressions like "Stupid people with their stupid votes" etc., so there really is no need to elaborate on that. I will still address your typical CCP tactic of trying to target democracies for their internal problems. You clearly are up to date with your handbook of "talking points" with various nationalities. If its India, talk about Ganges and population and toilets. If its USA, talk about racism and BLM riots and Iraq.
You think of my response to you as a kind of "manual". Your mind is imprisoned. Have you not noticed it yet? The opinions expressed by active users on the forum are understood by you as a "manual". When I talk about the problems of your country, if you only regard these problems as my strategy to attack you, do these problems no longer exist?


I don't care what you say, I live in China and I don't envy any other country. As a girl, if I choose India or China, my answer is China. I might die in India. Do girls have freedom in India?
39  Economy / Economics / Re: China - everything is fine! But everything is bad ... on: August 09, 2021, 08:52:10 AM

You tell half-truth here, you conveniently forget people from certain regions and people who don't agree with the views of the party. And that is called shameless propaganda.

...And then you go on Meta and cry about discrimination?!
That's not nice. Not at all...
Is there discrimination in the forum

Sir.I even added a link to this post in the Mate section. I don't think I conceal any facts.

I just want to discuss my topic through this matter.
It's not like getting sympathy. I don't need to do this either.


40  Other / Politics & Society / Re: Online Misinformation on: August 09, 2021, 08:39:09 AM
1.2012 is the end of the world

2.5G networks will spread COVID-19


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