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21961  Economy / Economics / Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow) on: February 20, 2014, 07:01:51 PM
If you are really curious about that percentage (i.e. the ratio of demand deposits to term deposits or the inverse relationship), we could approximately calculate it here (for Russian economy). On rough estimates, demand deposits compose less than one third of term deposits for individuals...

So my guess is correct, lol
21962  Economy / Economics / Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow) on: February 20, 2014, 06:53:51 PM
So the full reserve banking as you see it (i.e. encompassing only demand deposits) can't possibly prevent bank runs in the majority of cases, lol...

What about full reserve banking which encompasses all checking, savings, and time deposits, as well as all money market mutual funds?

Why is this funny?

This point has already been addressed by me previously (which you obviously have forgotten). In this case, banks would turn into money warehouses, and depositors would have to pay banks for storing their money (since they couldn't loan it and thus earn interest)...

Well yeah, of course.

But we wouldn't have any bank runs, right?

Wrong. That's why I'm telling you that even 100% reserve banking won't help you. If we take as a basis the definition that you've given, then bank runs could still happen (i.e. the depositors trying to withdraw their funds immediately), but since there is no loaning (the money is in the money warehouse all the time), there will be no significant negative effects, if any, on the economy and no bankruptcies...
21963  Economy / Economics / Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow) on: February 20, 2014, 06:45:54 PM
It seems that almost the same question was already asked by me. Do you want me to quote it?

You asked the question? Does that mean you don't know the answer?

It was you who pretended that "their (Northern Rock) subprime mortgage business involved loaning out demand deposits". So it is actually your responsibility to prove the point...

Sorry about that. I withdraw my point.

I've given strong logical reasons why demand deposits (checking accounts) for individuals should be much less than time deposits (saving accounts). It is obvious that the exact percentage will be different even for the same bank at different times...

So you don't know?

For a given bank, it is impossible to tell unless you work in the bank. On the economy scale though, you could use monetary aggregates to calculate the averages for that economy, but these aggregates (how they are calculated) are different between economies...
21964  Economy / Economics / Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow) on: February 20, 2014, 06:39:53 PM
So the full reserve banking as you see it (i.e. encompassing only demand deposits) can't possibly prevent bank runs in the majority of cases, lol...

What about full reserve banking which encompasses all checking, savings, and time deposits, as well as all money market mutual funds?

Why is this funny?

This point has already been addressed by me previously (which you obviously have forgotten). In this case, banks would turn into money warehouses, and depositors would have to pay banks for storing their money (since they couldn't loan it and thus earn interest)...
21965  Economy / Economics / Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow) on: February 20, 2014, 06:36:33 PM
OK, but you agree that full reserve banking would prevent the vast majority of bank runs, right?

No, I can't agree with that. As I told you earlier, checking accounts make up only a small portion of individuals' money held in deposits in the majority of banks.

Really? What percentage? What's the rest?

It seems that almost the same question was already asked by me. Do you want me to quote it?

You asked the question? Does that mean you don't know the answer?

It was you who pretended that "their (Northern Rock) subprime mortgage business involved loaning out demand deposits". So it is actually your responsibility to prove the point...

I've given strong logical reasons why demand deposits (checking accounts) for individuals should be much less than time deposits (saving accounts). It is obvious that the exact percentage will be different even for the same bank at different times...
21966  Economy / Economics / Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow) on: February 20, 2014, 06:30:06 PM
Even with full reserve banking on, banks are not guaranteed from problems that could provoke bank runs. Financial panic doesn't discriminate between good and bad banks...

OK, but you agree that full reserve banking would prevent the vast majority of bank runs, right?

No, I can't agree with that. As I told you earlier, checking accounts make up only a small portion of individuals' money held in deposits in the majority of banks.

Really? What percentage? What's the rest?

It seems that almost the same question was already asked by me. Do you want me to quote it?
21967  Economy / Economics / Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow) on: February 20, 2014, 06:23:32 PM
A run on a bank occurs when a large number of depositors, fearing that their bank will be unable to repay their deposits in full and on time, simultaneously try to withdraw their funds immediately." http://www.econlib.org/library/Enc/BankRuns.html

Even this definition emphasizes that depositors 1) are afraid that the bank will be unable to repay their deposits, and 2) will try to withdraw their funds immediately
21968  Economy / Economics / Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow) on: February 20, 2014, 06:21:14 PM
Even with full reserve banking on, banks are not guaranteed from problems that could provoke bank runs. Financial panic doesn't discriminate between good and bad banks...

OK, but you agree that full reserve banking would prevent the vast majority of bank runs, right?

No, I can't agree with that. As I told you earlier, checking accounts make up only a small portion of individuals' money held in deposits in the majority of banks. So the full reserve banking as you see it (i.e. encompassing only demand deposits) can't possibly prevent bank runs in the majority of cases, lol...
21969  Local / Новости / Re: Биткойн: валюта не для слабонервных on: February 20, 2014, 05:10:15 PM
Деноминация и девальвация - это совершенно разные вещи.

Извините, не знал совершенно. Спасибо что донесли свет истины. Какой Вы умный !!!

Ну как там говорится, спасибо в карман не положишь, на хлеб не намажешь, в стакан не нальёшь... Grin
21970  Economy / Services / Re: [PrimeDice] [Highest Paid Signature] Earn up to 2.4 BTC/Month by Posting on: February 20, 2014, 04:47:21 PM
so hilariousandco, going for the 8000 now? Grin

As I got it, he didn't even reach 4000 posts last round, so we can consider this feat as next to impossible... Grin
21971  Local / Новости / Re: Биткойн: валюта не для слабонервных on: February 20, 2014, 04:31:55 PM
я сколько помню, с рублем и похлеще было.  Grin
с битком это, так, мелочи.

Да, рубль девальвировался примерно в 100 000 раз. Битку так слабо.

(если чё, деноминация была в конце девяностых, 3 нолика тогда убрали.
А разница на товары тогда и сейчас, примерно 100 раз)

Деноминация и девальвация - это совершенно разные вещи. А так да, с рублём не соскучишься... Grin
21972  Other / Off-topic / Re: Could use a few laughs will give away some satoshis on: February 20, 2014, 03:43:59 PM
http://imageshack.com/a/img69/4703/1eyg.gif

And with music
http://www.youtube.com/watch?feature=player_detailpage&v=xY672bb9qc4
21973  Other / Off-topic / Re: MtGox is The Boy Who Cried Wolf on: February 20, 2014, 03:03:50 PM


Why don't you make this story together !!


MtGox is The Boy Who Cried


This story is about a MtGox.


I thought this was going to be a Fresh Prince rhyme after this line Sad.

Reminded me of Ma Baker by Boney M (though don't know why)
21974  Other / Off-topic / Re: MtGox is The Boy Who Cried Wolf on: February 20, 2014, 02:58:49 PM
Finally, the Gox's CEO was killed by someone's gun

Now with tens of millions of $$$ in his hand, he can hire Russian Spetsnaz to provide him with security.... Or he may even hire Chuck Norris... who knows?

He has enough to clone chuck norris a few times and then we have some problems.

As an option, he can just clone himself and then let his clone be killed by a crowd... Grin
21975  Local / Новости / Re: Биткойны: будьте готовы к взлету цифровой on: February 20, 2014, 02:42:52 PM
Биткойны: будьте готовы к взлету цифровой валюты

Ага, летайте самолётами British Airways (IRA)... Grin
21976  Local / Новости / Re: Шиворот навыворот, о наличных деньгах on: February 20, 2014, 02:39:45 PM
Вы просыпаетесь утром, наливаете чашечку кофе или чая, включаете ваш любимый информационный оповеститель и слышите новость — с сегодняшнего дня правительства крупнейших мировых государств включают в обращение систему платежей, основанную на бумажных носителях, в официальных источниках называемых «банкноты», или «купюры».

Система наличных денег удобна тем, что она независима и локальна, здесь и сейчас (т.е. не требует всяких расчётных центров с сопутствующей инфраструктурой). Как-то так...
21977  Local / Новости / Re: ЦБ Венгрии предупредил о рисках, связанны on: February 20, 2014, 02:36:48 PM
ЦБ Венгрии предупредил о рисках, связанных с биткойнами

Quote
Центральный банк Венгрии опубликовал заявление, в котором предостерег энтузиастов криптовалют об имеющихся рисках их использования.

Своим пресс-релизом главный финансовый регулятор страны фактически присоединился к большинству других стран, которые поступили аналогичным образом. Уже понятно, что подобные заявления формально не запрещают гражданам покупать или продавать криптомонеты, однако операции с ними при определенных обстоятельствах могут нарушить другие законы, в частности, закон по борьбе с отмыванием денег.

Источник

Они там все сговорились что ли? Grin
21978  Local / Новости / Re: Как быстро тратятся биткойны? on: February 20, 2014, 02:34:59 PM
А вот с какой целью спекулянты их складируют? Курс растет при обороте, при движении средств и тем самым постоянном интересе к этой валюте. А если биткоины оседают и перестают использоваться и курс падать будет. В чем резон?

В притоке новых лохов пользователей, готовых продать душу квартиру за пару битков...
21979  Local / Новости / Re: Биткойн: валюта не для слабонервных on: February 20, 2014, 02:31:22 PM
я сколько помню, с рублем и похлеще было.  Grin

с битком это, так, мелочи.

Самая первая мысль, что в голову пришла (про рубль, что не для слабонервных)... Grin
21980  Bitcoin / Bitcoin Discussion / Re: Forum moderation policy on: February 20, 2014, 02:04:06 PM
Such a big forum but there are no clear rules on the forum thats a shame.

This is obviously a lawless and primarily self-moderated forum, and this is likely one of the reasons why it has grown that big...

Is that a shame really?
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