It can't be either deflationary or inflationary by definition. In both cases you are making a price prediction with which you could make a risk free profit if it held true. Whether you have to go long or short, you would in the end trade away the expectation.
Yes, it depends on whether economy is expanding or shrinking. In the first case it will be deflationary, in the second inflationary, provided all other things being constant... |
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In an expanding economy the same amount of bitcoins would be continually distributed on an ever increasing quantity of goods, which would mean sustained deflation. It is not that difficult to understand really...
Wrong, wrong, wrong. You are dividing the value of the economy by the number of bitcoins. You should divide the value of the economy by the number of bitcoins TIMES their price. What do you mean by "their price" here? Price denominated in what? |
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Time and time people say bitcoin is 'deflationary'. That is wrong.
As if we already know that bitcoin's price relative to others assets will always be rising. Ridiculous. An expectation like that would cause people to buy bitcoin, cause its price to rise, right up to the point where the expectation is GONE. Period!
The misunderstanding comes from the fact that bitcoins cannot be created endlessly, unlike government issued currency. But it is the quantity that is fixed, not the price.
In an expanding economy the same amount of bitcoins would be continually distributed on an ever increasing quantity of goods, which would mean sustained deflation. It is not that difficult to understand really... |
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You have forgotten to write whether AnonyMint is allowed to post in this topic. Though you probably don't yet know who is this personality...
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In the end, the only reason fiat works is that it is coercive. Government requires taxes paid in legal tender, and that is how banks control government and serf alike.
I wouldn't say so. Governments do require taxes to be paid in legal tender, but before that you have to earn this legal tender somehow to pay those taxes with. So, in the first place, we have the public sector of the economy where governments themselves pay in this legal tender, and what is important here, pay before they collect taxes. This proves that the reasons fiat works have rather economic roots... |
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People used money long before they invented writing.
It wasn't fiat money, not even gold, but rather other mediums of exchange, such as neck-lets and shells.
Undoubtedly, they should have been able to count and thus had to write their calculations somewhere. So serious doubts arise as to whether they had been using money before they invented some primitive form of writing... |
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Может транслитерация и права, но Биткойн как то уж режет слух  Это с непривычки, некоторые хардкорные перцы тоже до сих Unix "унихом" кличут.  Всё правильно кличут. Unix - это у них, а у нас был Unas (якобы первоначальное название отечественной операционной системы Демос - клона BSD). Всю тему пока не осилил, если кто уже успел прояснить этимологию подобного произношения - извиняйте... |
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Дык, биткоЕн же!
Это только для своих, только для посонов со своего раёна... |
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Для интереса взять бы как-то собрать статистику с русской ветки форума - как часто используются оба варианта. И оставить наиболее используемый. Хотя лично для меня с Й звучит тяжелее и менее приятно чем с И.
Чисто интуитивно начал писать через И (хотя вроде бы даже существуют какие-то правила транслитерации с английского), уже потом обратил внимание, что во всяких желтушных статьях 100% пишут через Й. Сразу понял, что интуиция меня ни разу не подвела... |
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LOL at this thread... if you bought bitcoins on the day you posted this you could have seen a lot of gains by now. Stop crying cuz you don't have a time machine and buy as much as you can now.
Do you actually think the OP is still crying over spilt milk the chances lost then? I haven't seen him here for a while... Maybe, he is rolling with laughter reading our lachrymose confessions here, who knows? |
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Генеральный директор eBay Джон Донахью уверен, что этот способ оплаты будет пользоваться популярностью. «Цифровые валюты станут очень важным фактором. Сейчас мы строим систему, в которой любой ритейлер может перевести свои единицы в кошельки PayPal», – заявил он в интервью изданию The Financial Times
Ишь как запел, паразит! А то мы не знаем, как PayPal к биткам относится! С другой стороны, было бы просто замечательно, если бы, например, к кошельку Coinbase можно было бы палку подцепить... |
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Уже обсудили несколько дней назад. Пришли к выводу, что на свалку лучше не соваться... |
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Bitcoin can't be centralized? Now I'm not sure what you mean by being centralized. Look, I already encountered two contradictory ideas about what Bitcoin decentralization actually is, so what is your take on this? If someone grabs more coins than anyone else, would this go for centralization? Or, rather, what could in this case prevent their owner from inflating Bitcoin derivatives if he decides to?
It's a long story if you're not familiar with Austrian economics, but as far as one person or group amassing too many coins, it can't happen for very long. Even if one guy magically had 90% of all coins, he could only enjoy this situation to the extent that he spends them. I'm familiar with Austrians (sometimes even think myself belonging to them), consider their theory of subjective value brilliant (which started with Carl Menger). I know what you mean here, but, I'm afraid, this idea is not the only option in this case (and probably not the best one either). If that guy accumulated 90% of all coins he would be a central bank himself (remember, there is no other currency in circulation but Bitcoin). He wouldn't need to spend the coins, he could just issue "paper" BTCs, allegedly covered by real bitcoins. And then we have Gresham's law... |
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Central bank? Inflation via derivatives? No, Bitcoin can't be centralized and dissolves the government power necessary to enforce the perverse incentives that created the present fiat money derivative situation.
Bitcoin can't be centralized? Now I'm not sure what you mean by being centralized. Look, I already encountered two contradictory ideas about what Bitcoin decentralization actually is, so what is your take on this? If someone grabs more coins than anyone else, would this go for centralization? Or, rather, what could in this case prevent their owner from inflating Bitcoin derivatives if he decides to? |
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As someone mentioned, there is no reason for a rational user to risk dealing with a fractional reserve bank with Bitcoin, unlike with gold. All it takes is one bank publishing 100% transparent blockchain data about accounts in custody. Then who is going to put up with fractional reserve?
Most humans are not rational users, to begin with. And even those who can be considered as rational on the whole are not rational all the time. If it were so, why would we in the first place still have fractional reserve banking now when gold is obsolete? |
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its because you don't have many bitcoins, right OP? Because i have never seen anyone wanting something of his own to fail, unless theres a more wicked reason behind.  Your logic seems like that of a 3 years old. I don't want Bitcoin to fail, but if see no cogent argument why it will not fail in the long run, all I can hope for is to be lucky enough to jump off a sinking ship before it's too late. And the wicked reason behind can just be weighing the odds before making a long term investment decision... And even if Bitcoin does ultimately fail, it may still provide a worthy speculation opportunity |
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People are much smarter today than 50 years ago, bankers can not scam all the people all the time Some say quite the opposite, that people have actually become dumber these days than they were some 50 years ago. In any case, I can always retort that banksters have become much smarter in their ways too, so it is a moot point really... |
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Вход :
0.25000000 BTC 2013-11-30 03:16:10 -> phone +7 7xxxxxxxxx5
Выход :
НЕ ВЫПЛАЧЕН, статус: no money_source
Четверть биткоина - это почти 300 баксов по нынешнему курсу, лично я бы поостерёгся такими деньгами разбрасываться... Надеюсь, всё образуется! |
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Some people are obviously changing horses while it is not too late...
There goes my money, damn you LTC. There can be only one. And it appears that LTC is not that one... |
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Yes, and just after those banks inevitably fail because of inflating their moneys, here comes the evil Central Bank, monopolizing the emission of Bitcoin based currency and welcome, the new Bitcoin standard and new Great Depression ahead! So we once again get into that dreadful spiral of history...
There is already a currency that is issued by central banks. What new the bitcoin based currency will bring to the table? I don't get it. You don't get it because you are not following the discussion. There is no currency that is issued by a central bank and we have only Bitcoin as legal tender with no other currencies in circulation (that is the wildest dream of all the bitcoiners out there)... |
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