Very cool. Gj.

I disagree. The only way this could happen is if the Bitcoin economy stops growing. Instead what I suspect will happen is when the monetary inflation of issuing those 21mio BTC stops the Bitcoin economy wont stop growing and so we will have a constant and indefinite price deflation.

Obviously I disagree. My argument is that in fact the Austrian theory and either monetary inflation or deflation are very intuitive. It's just that everyone has been taught that inflation/delfation = rising/falling prices when in reality rising and falling prices are just the symptom of monetary inflation/deflation. This confusion has served the banksters very well.

Simple! People need to eat, drink, pay bills, pay for gas, wear clothes, live in a house...... ect. Not to mention all their wants..

As you can see, there will always be consumption.

What you don't want however is rampant consumption and zero savings like we have now, where everyone over consumes and lives beyond their means and is piling on a huge mountain of debt only because they'd be a fool if they saved under the current monetary policy.

And on top of that the scary monster deflation is only a problem when it's the monetary kind which is sudden and unexpected. What Bitcoin will have however is first monetary inflation and then neither monetary inflation nor monetary deflation. Constant price deflation which people can plan for on the other hand, will not be a problem at all.

It's so frustrating that nearly everyone has been brainwashed and indoctrinated in public schools and through mainstream media where they just don't understand that monetary deflation != price deflation.

I've been casually tracking the number of search results for "bitcoin" in google. Since I learned about it late February this year it has consistently hovered around 800k hits, while gaining a 100k and then losing a 100k or so across the time of a week. A few days ago it jumped to 1.7m hits but today it's only 750k again.

Any idea what's going on?

Saying and wishing I was the one who is confused does not make it so. I suggests you meet with reality.

Maybe watching this will help you: John A. Allison(BB&T CEO) "Leadership and Values"

See this? There's a whole country who followed his beliefs into a major crisis where people lost their savings over night and are now going to have to starve, because his ideal world does not work and yet he is unable to learn this lesson and instead will further parrot his moronic beliefs and tell me that it is me who doesn't understand.

How am I not suppose to lose it to a person like that?


Belarus devaluation spreads panic:
http://finance.yahoo.com/news/Belarus-devaluation-spreads-apf-3127812939.html?x=0&.v=4

Welcome To Hyperinflation Hell: Following Currency Devaluation, Belarus Economy Implodes, Sets Blueprint For Developed World Future:
http://www.zerohedge.com/article/welcome-hyperinflation-hell-following-currency-devaluation-belarus-economy-implodes-sets-blu

I'm sorry but I lost it. Guy calls me inhumane while at the same time idiotically faithfully supporting ideas that have throughout our history always lead to the most inhumane consequences for a society that followed these same ideas.

I just couldn't help myself. Sorry again.

Why thank you! And to show my appreciation of this special award, here's a song for you: http://www.youtube.com/watch?v=RHe4OQ4bY4o

I didn't read your whole post and this will be my last reply because I know I wont change your beliefs and values that you have learned throughout your life from people you trusted, I mean who the hell am I, some geek on the internetz, you'd be stupid if you did let me affect you.

But I did want to address this common mistake that you made in the quoted part of your response:

Subsidize healthcare -> more healthcare != better healthcare
Subsidize education -> more education != better education
Subsidize infrastructure -> more infrastructure != better infrastructure
Subsidize purchasing power -> more purchasing power. != better ect.

Sure you'll have government sponsored services, and you might even have more of them. But these services will be exempt from the profit and loss equations that other business have to figure out if they want to operate effectively and stay afloat and they will be exempt from competition which always, and this is a historic fact, always leads to inefficiency. And guess what happens when you run a service, which doesn't know how to figure out if it's effective and has a fatal flaw that will lead to inefficiency at the same time...


But like I said I know I wont change your mind. The best I can hope for is that you hopefully still have an open mind, direct you to this video: John A. Allison(BB&T CEO) "Leadership and Values"

And then hopefully you'll head over to www.mises.org and at least try to research their take on common social and economical problems, if nothing but to hear the other sides arguments.

Having said that, I'm out.

Read my signature. I really don't care about your whining. I have learned through Austrian economics how the world works and in my ideal kind of a society you'd work hard and most importantly you'd keep the fruits of your labor. Having people doing nothing for whatever reason and getting subsidized by the government is 100% a proven recipe for failure. And that's an indisputable fact: you always, always get more of what you subsidize, ALWAYS!

Now I'm not against people trying to express their frustration with the current conditions per se. Au contraire! I'm all for it. What bothers me is their proposed solutions which however well intentioned are proven to have horrendous consequences for the general welfare of society. And I will never ever EVER in any way shape or form support people who are advocating such policies. Not in a million years, and even if babies have to starve and die in front me I will not do it.


Also if Bitcoin was not designed to have a fixed limit of supply it wouldn't even interest me. It is one of the main reasons why I find it extremely appealing which is the fact that no one on the whole planet can steal from me through inflation.


Hmm I see your point. I guess you are right. We don't have to endorse their ideas in order to introduce Bitcoin to them. Yeah maybe I was wrong. I just can't stand their ideology, that's all.

Correct me if I'm wrong but aren't those people protesting in Spain protesting against government austerity measures? Because if I'm correct and they are first of all I have zero sympathy for them and 2nd of all I wouldn't want Bitcoin to get associated with socialists in anyway shape or form.

With such a small amount it might take a little while if there's a line to get into the next block. Also your client probably hasn't downloaded the whole blockchain of history so it will take at least that long. We are at the 125882th block, so check if your client has this number of blocks downloaded yet..

Isn't it interesting how we all can see someone moving around their huge chunk of cash and yet we have no idea who's doing it?

I was talking about their legal duties and not their actions or consequences of actions. Is it really so hard to distinguish between the two?

Bottom line is this: They don't come and help you because you are in trouble they come and enforce laws against those who are breaking them. That's their directive. Do not confuse their directive with the consequence of them following their directive. You might say well they still helped the victim and I would agree accept that them following this directive often creates victims when they enforce laws that punish victimless crimes such as drug use. The police do not protect and serve the people, they protect and serve the state, period.

Yeah but I think his argument was that the government could make it mandatory..

Hey don't ask me. Just respond to his claims please so I can shut him up.

garethnelsonuk they have to enforce laws, just not protect and serve the people. Don't mix up those two.

So this guy is being a wise ass about a potential method of how the government could shut down bitcoin. Please respond to his accusations:

from: http://www.dailypaul.com/160149/bitcoins-the-digital-cryptocurrency-of-freedom