Keynesianism relies on the fact that the economy can outgrow debt, which is silly.
It is silly because the GDP grows linearly, but the debt grows geometrically or even exponentially, thus it is by definition a ponzi scheme by design.
There is some truth in the above assertion. The interest for loan is always higher than the interest on savings. So debt will grow faster. Thats not what I meant. There is 2 sides: GDP & Debt. You create debt easily with the push of 1 button in a central bank. For GDP to grow you need manpower, labour, investment risk, etc. Thus the risks involved in growing a GDP is by orders of magnitude greater than those of growing the debt. So if the risk is bigger in GDP growth, then it will grow much slower than the debt. So this means that the debt will outgrow the GDP, and create this global ponzi scheme that we live in now. So hyperinflation will have to come to wash away this madness. |
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The current trend of bitcoin is that is is appreciating. The big bubbles and bursts only affect the short term trends.
Surely it will burst soon or later because at one shot prices went up more than 50% so I think there will be a correction soon. You can't call this latest rise a bubble. Yes, we have gained nearly 50% but this ain't a bubble, especially if we know that Bitcoin was in a two year old bear trend and that the highest price was over $1,100 at the moment. Now that rise to a $1,100 was a bubble. I would rather call current rise a recovery! I agree. I see this as an uptrend and not a bubble imho. The $1100 was Mt.Gox who caused this I think (please someone correct me if I am wrong) Possible, but I`m not sure if this is "it". You can see the price increase is very sharp, so it could be a bubble. However the global economy is so fucked up,that it could not be as well. It can be just a late reaction of traders worldwide that discover that bitcoin is the real deal. |
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Bitcoin never left. It just went into hiding so the morons that are here for quick bucks would leave. The real believers that understand the technology and know it will be 100K in 10 years keep buying. Bitcoin gave them the gift of buying sub 200 Bitcoin once again and now they are holding and laughing while their purchasing power increases.
Well I`m here for the quick buck, but that doesnt mean that I dont believe in bitcoin. I would never sell my bitcoins, only in extreme cases. But I would shop some of them later on. Bitcoin really gives us a mystical experience, because its an invention so new that we dont really appreciate it that well. The first PC users were amazed at the possibilities, while now people take PC for granted. Kindenganden kids have mobile phones and a PC so its really a basic tool for now. Even the caveman appreciated his first hammer. It's called evolution. |
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go back to the year of 2009 and buy 10000bitcoins for 25cents each  That's still quite expensive. Back in 2008, just buy mining, in a day you could get 10k bitcoins, if my memory serves me right. Why spend so much money when you can use an old motherboard you found in the trash? you mean 2009?, but only satoshi at the beginning knew about bitcoin, there was no real way to mine along side with him, at the launch so it's better to say 2010, for initial mining, and i remember one guy was doing 1k every 3 day with cpu only in summer 2010 In 2010 the price was 5 cents for a few months, I had enough money back then to buy up enough bitcoins that by 2013, I`d have few hundred million $ worth of wealth. It is really easy if you think about it backwards, too bad the future is clouded. |
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My family and I are, and have been for a couple of years now, saving at a prodigious rate. We are spending LESS, even with NIRP/ZIRP. So in a sense, we are following a similar logic as the Europeans you mention.
Yes, gold and BTC are a pair of good & complementary ways to hedge against .gov. Might want to add some CA$H, as in a pinch, CA$H will be accepted almost everywhere (for a while), whereas BTC and precious metals might not.
ZIRP is coming to my country too, the currency got devalued 70% in 10 years versus gold, and that was under 7% interest. If they push ZIRP (currently ~1% interest) , it will be hyperinflation 100%. It's just crazy, I went shopping a few hours ago, and noticed several price increases in basic goods (I have a good memory and remember previous prices), and its increasing about every 1-2 weeks. The sheeple have no idea what is coming  However the hyperinflation I think will be global, and its coming very soon, so be prepared and dont miss out the lifeboat  |
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However, bitcoin isn't that common with 2nd and 3rd world countries. I live in the Philippines and you can only talk about btc among people who are at least college level and are interested in advancements in computer science / technology or financial investments, and that's probably less than 10% of the country.
Still more common than where I live. People here are just the ultimate sheeple. For instance my currency vs GOLD lost about 70% of its value in the last decade, and not even the stock market went up to cover the investors. This was under 6-7% interest rates. Now the interest rates are ~1%, hyperinflation will come, and the sheeple better learn quick about bitcoin or they will get robbed again. |
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What is the purpose of keeping a list of defaulters/scammers when most guys on the list havent logged in in 1 year.
If they would be active members then it would hurt their reputation as forum users, if they have a defaulted loan on their shoulder, but considering that these guys arent active anymore I dont see a reason.
Can anybody explain?
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All of them (fiat money, gold, dollar, yuan and other currencies) are used for trade stuff.
Flash back, i really salute with satoshi nakamoto who can turn their "digital stuff" into real money. (Satoshi Nakamoto is a group name, not only stand for 1 people)
Fiat money is crap. Gold used to be currency, but now we have better technology. You are not using washing board instead of washing machine? Do you make a campfire in your room or you use an owen? Bitcoin is superior technology and it is the real money in 21 century. 40% Bitcoin and 60% Altcoin.
No thats not true, thats the lame excuse gold bugs say to demonize bitcoin as money. We already have thousands of altcoins, and bitcoin makes up 89.022% of the total cryptocurrency sector: Total Market Cap: $ 5,308,580,616 Bitcoin Market Cap: $ 4,725,833,968 http://coinmarketcap.com/all/views/all/ |
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I think the best way would be to make the University of Bitcoin in order to provide college degrees related to it. This will help people gain interest on it and help in Bitcoin's mass adoption. Just my thoughts.  Too costly, and no a cost efficient result. This is a good idea, for education purposes to create new bitcoin scientists, but not good for marketing. It's far easier with billboards, internet advertising campaigns, and telling news agencies to write bitcoin articles. |
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Also hoping for $500 by Christmas. But do you guys think that the price would go down around that time? People might sell BTC to buy Christmas gifts.
You cannot know that, there is no data that would support that claim. People could buy gifts with bitcoin too, especially in 2nd or 3rd world countries where bank transfers and card payments cost alot. There are many stores that accept bitcoin and ship worldwide. Its easy as that. (But I really doubt people will spend their bitcoins at all, if it gets to 500$, the 500$ bitcoin is the gift itself ) |
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lets hope the bitcoin community will keep on rising and will be bigger than ever before
Funny thing is that its counterintuitive. You would thing this: More people find bitcoin by google search -> More people join the forum -> More people buy bitcoin -> Price goes upWhen actually in reality this happens:
Investors get interested/Traders try to manipulate the market -> Price goes up -> Bitcoin gets mentioned by the media or other means -> Greedy people look for money making methods -> They join bitcoin |
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Yes thats one plausible outcome. I noticed that as soon as BTC gets new funds, everybody buys altcoins with the BTC and some of them make 10-50% increases thus. BTC is really the gateway to the crypto world. But still the superior altcoins get the most funding (except ETH which I consider a possible scam). |
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Here's an interesting one - negative rates in Europe are having the opposite desired effect: savings rates are actually increasing. This says that the average person cannot be dissuaded from what they see on a daily basis in their lives. Despite NIRP "household savings rates have also risen. For Switzerland and Sweden this appears to have happened at the tail end of 2013 (before the oil price decline). As the BIS have highlighted, ultra-low rates may perversely be driving a greater propensity for consumers to save as retirement income becomes more uncertain."
http://www.zerohedge.com/news/2015-10-29/bank-america-looks-europes-record-%E2%82%AC26-trillion-negative-yielding-debt-stunned-what-iThis stands against some commentators who I follow that suggest the EU is actually making the necessary reforms needed to allow it to exit the quagmire first. That remains to be seen, but always good to look at differing opinions. They are saving, I am saving too, but they are not saving in a bank. Who is so foolish to put all his money in a bank? Especially in a country where the debt is like 500% like in Japan or Ireland, these will go bankrupt sooner or later. I have money in bank but if the interest rates will decline further (which they will) I`ll get it out. |
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Isn't it pre-determined when the debt should be payed back?
They probably use the money they borrow from other countries, that is worth less when they borrow it a couple years later, to pay the old debts.
Rinse and repeat.
Bonds on expiration are paid with the money from freshly issued bonds, so effectively they are rolled over to another period, be it 10, or 30, years. This is repeated endlessly, each time the cost of the operation is higher. The cost doesn't matter however as FED can print the amount that is required. This game is called 'kick the can'. The game is called keynesian ponzi scheme. It's a ponzi scheme where you have a pyramid ownership, and everybody pays a part to the top of the pyramid (the elite), when they run out of money or new participants, they just print up more (confiscating from the already paid out clients) to run the scheme. It is a complicated and well thought scheme, but it's still a ponzi scheme. |
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So is my prediction coming true after all: Ok here are my predictions:
60% probability: Bitcoin will reach 400$ before 2016
Sooner than expected, but still, it is a very exciting time! Yes this has happened so sooner once we noticed new comers to this forum. May be the new blood are more interested to buy bitcoin when the prices are lesser comparatively. Any way these are so good things to happen for bitcoin and our bitcoin community for ever. I dont think this price increase is from newbies buying bitcoin. Because the bitcoin membership is not increasing that drastically. I think some big rich guys trying to buy bitcoin before the financial system collapses. He`d rather pay 50% more for bitcoin , just to aquire it, instead of letting his bank account get wiped out by some bail-in. |
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Inflation in this case is the increase in the supply of money (sometimes called money supply inflation).
At the point where the graph indicates 10% it means the money supply is growing at 10% annualized rate at that point in time.
It is sometimes useful for people to be specific (price inflation vs money supply inflation). Obviously both "sides" believe their definition of inflation is the right one but it always leads to confusion and/or fights. If everyone simply used the terms price inflation or money supply inflation it would always be clear.
Keynesianists like to hide their ponzi scheme by highlighting price inflation isnt it? In bitcoin its hard to calculate price inflation, and I think, its mostly price deflation going on, due to the rapid acceleration of services, big competition and price increase of bitcoin. I dont know many examples, but look at faucet payouts and advertising costs and signature campaign, these 3 prices have been constantly going down, so we have price deflation and monetary inflation in bitcoin (but they are not causing eachother). |
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NXT is up +5.84% for this week, look like the Tenessee operation is working!
It's exciting because Bitcoin is hitting new highs too! Looks like the good cryptocurrencies are differentiating eachother from the bad.
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gold is more true money than fiat currency. fiat currency isn't money at all in fact. Gold isnt money either, because it's hard to divide and it has fungibility problems due to forgery. Bitcoin is the only money around that is both limited, representative of value, and the biggest / safest one out there. Fiat currency is just a bank note which is = promises that cant be fulfilled. |
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