... or quantity of goods in the market place changing can effect price level.. causing inflation...
It's exactly that simple. If you don't understand or disagree with something I said, please quote it. Also: marketplace affect "." (period) or "..." (ellipsis), ".." is just fail. Because spelink counts!  Awwww... Don't feel threatened, I was remarking on a conversation with more than one participant. I might not have been referring to a comment made by you. From the "git-go" and all that "shit" |
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Kids, Deflationary means it gains in value, Inflationary means it loses value.. USD is inflationary prices rise because it loses value when more is printed..
Edit: maybe they should find an economist who gives lessons in crayon..
Play nice, I have to go to work now...
I meant to say the usd deflates as the economy inflates, chose wrong wording Inflation of base money supply ("printing money out of thin air" to the local intelligentsia) does not equal price inflation (inflation as we know it, "price inflation," shit getting more expensive). Bitcoin has been "printing money" (mining) at breakneck speeds since the git-go, and BTC prices have risen for quite a while. It's only now that Bitcoin is failing to support ~12% yearly monetary base inflation rate. If there was only a way to slow down the money printing press... but alas, it's algorithmically predetermined  Not that simple.. The equation of exchange states MV=PQ or Money supply X velocity = price level X quantity of goods.. So quantity of money printed, amount of money changing hands, or quantity of goods in the market place changing can effect price level.. causing inflation... |
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Yawn! How come i never see any german notes from after the 2nd world war? They were too valuable a commodity to use to keep the stoves burning  100 Mark "Goldmark" I just scanned.. Wonder If I can redeem it for the 3.58 grams of gold from a central bank.. A contract is a contract  |
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Kids, Deflationary means it gains in value, Inflationary means it loses value.. USD is inflationary prices rise because it loses value when more is printed..
Edit: maybe they should find an economist who gives lessons in crayon..
Play nice, I have to go to work now...
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^How's that SexCoin of yours doing tho? All good? Value stored? Velocity up to speed? Farting through silk yet?
You know I've warned you about this before.. Memes and insults are fun, but don't interrupt when adults are talking... OK, Lambie If a teenager taunts you in the street, do you actually waste your time discussing with him (loudly so everyone in the neighborhood can listen) or do you go on with your business because...you know... you might actually have more interesting things to do?  I got a soft spot for him, I'd like him to learn a little math.. Like MV=PQ.. But I think you are right ... It's about that time.. |
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^How's that SexCoin of yours doing tho? All good? Value stored? Velocity up to speed? Farting through silk yet?
You know I've warned you about this before.. Memes and insults are fun, but don't interrupt when adults are talking... OK, Lambie |
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Currency is supposed to circulate, not to be hoarded or hidden under the mattress. It's not expected to rise in value.
You people should stop following Mises and Austrian economics. We're no longer in gold standard, you should learn how modern monetary system works before writing nonsense.
Yes, It should, so why isn't it ?  You, know I'm not going to walk you through it, let's just say you are right, but I'll act as if you aren't cause I'm too arrogant to admit it.. |
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...
>Do you complain about milk being a ripoff because it doesn't last for years?
Nobody uses milk for it's purchasing power, now or present. It's a good that is bought and 'used'.
... No one uses money as a permanent store of value either. At least no one sane does. Now that you know this, stop. @LittleDigger: Good thing you invested your worthless USD into SexCoin, the seriously excellent store of value immune to "currency wars"  For me not to profit from Crypto, bitcoin would have to go a couple of thousand into the negatives... But I moved the majority of my liquidity into hard assets, just like Warren Buffett has been doing... Bitcoin aside, I don't think you really understand how money works, which surprises me.. All joking aside, I thought you have made some intelligent arguments, but it's obvious you don't even understand what a "fiat" currency is, what the "reserve currency" is, what the "petrodollar" is, and how it came about.. That's a real pity, because in the coming years it will be useful information... |
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My wealth keeps being stolen from me but it's okay because it's supposed to happen!
Nothing is being stolen. Nothing will be taken from you if you don't use the dollar for stuff it was never intended to do, like trying to use it as a permanent store of value. You might as well bitch about the $ being a gyp because it makes a lousy pet. It's not meant to be matress stuffing any more than it's meant to be a pet. What level of lunacy am I up against here? Do you complain about milk being a ripoff because it doesn't last for years? Sigh... the demand for the US dollar is being propped up as it was the "petrodollar" now Russia is selling oil in other currencies, Iran has also proposed this, and was going to build a pipeline through Syria.. until it destabilized... The dollar is also the "reserve currency" this was agreed to at the end of WW2, backed by gold, until other countries noticed so many dollars being printed and started asking to have it redeemed for gold, and Nixon switched to "fiat".. China is challenging this by backing their currency with gold.. I assume you know the reserve currency is the currency in which commodities are priced and traded in... Basically there is a "Currency war" raging right now, and if the US "loses" the dollar will be in trouble... C'mon Lambchop don't tell me you don't know the basics of the monetary system... |
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Helps when the initial value is nothing (ZERO) Doesn't help when initial value is backed by something that is known to have worth which is later taken away with the promise "trust us" to the background sound of the printing presses being fired up. Relax, Belgium is now buying all the Treasury Bonds that Russia is dumping, while China is moving to back it's currency with gold.. The petrodollar as a reserve currency is as secure as world peace.... |
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Ahh, My SexCoin buddy! Still butthurt about that, huh Just concerned about your lack of quality trolling, lately.. Started taking your medication again huh ? |
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Time to move my fiat... and be ready for the bottom... |
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yeah I don't think tulips solved the byzantine generals problem or could be configures easily as a trustless distributed network. But hey that's just me.
Solving the Byzantine generals problem is a pointless when you have no armies. If you're impressed with trustless distributed networks which manage to solve it, there's a whole bevy of >>>/altcoins/. Enjoy "investing" in them. If I'm not being clear, I'll spell it out: No one but a handful of paranoid libers *care* about money being decentralized. Normal people just want money that 1) Is simple to use 2) Is accepted everywhere 3) Doesn't lose 75% of its buying power a year. Bitcoin fails all three. So now you're in the know  I was reading in the Wall Street Journal how Oliver Bussman CIO of the Swiss bank USB was saying block chain technology can be used for financial instruments : http://blogs.wsj.com/digits/2014/10/27/ubs-cio-blockchain-technology-can-massively-simplify-banking/Pretty sure he said "Just like tulips" of course you can have side chains on tulips, for these financial instruments, unlike Bitcoin, so they are actually better... |
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whats the point of selling? you get what a bit of FIAT. Who cares for that. I am saying I remain un perturbed by any downward value of btc including to zero. The lower it goes, the less reason I have to care about selling.
What do you care about? If you wanted to own more BTC, then you would have sold at 1,000 and bought back four times more BTC today. But you say that would be pointless, so clearly you don't want to own BTC either. You must be an absolute nihilist. Nothing matters to you, nothing at all. Wow. Why are you posting? because I fear the order of magnitude going up and never coming down far more than the price going down. I face total annihilation if I sell at 1 K and it jumps to 10K and never comes back. The other way it goes down just provides more buying opportunities. I get it Jubalix.. |
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I mined a few when they were worth around 5$, because I was a cautious enough to figure that if this bitcoin thing was a flop, at least I could recoup on selling the hardware..
When they hit 100$ I sold a few to upgrade my gear then sold a few more when they hit the 1000 mark.. It was obvious that there was a bubble and they were overvalued.. but I kept a few
I got in after the last bubble, and this one seems to be much the same.. I wouldn't be concerned if the price dropped to 76$.. That would be proportionate to the price drop from the last bubble.. Somehow though, I don't think it'll break 100, as too many people would be buying, I'll probably grab a few more when I think we've hit a bottom..
Then there'll be a slow climb, much like after the last bubble, then after a long period we'll probably have another bubble.. I'm thinking that's at least a year away probably more.. maybe I'll sell a few more then..
So I doubt Bitcoin will make me rich, I didn't lose anything by it and I enjoyed the ride, but yeah I know what you mean...
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Bitcoin will fail, because the Internet is just a fad.. Don't believe me ? Check out this 1995 Newsweek article explaining how useless and irrelevant the internet is.. http://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306 Some of my favourite cast iron arguments from the author. Visionaries see a future of telecommuting workers, interactive libraries and multimedia classrooms. They speak of electronic town meetings and virtual communities. Commerce and business will shift from offices and malls to networks and modems. And the freedom of digital networks will make government more democratic. Baloney. Do our computer pundits lack all common sense?
And you can’t tote that laptop to the beach.
The truth in no online database will replace your daily newspaper, no CD-ROM can take the place of a competent teacher and no computer network will change the way government works.
Nicholas Negroponte, director of the MIT Media Lab, predicts that we’ll soon buy books and newspapers straight over the Intenet. Uh, sure.
What the Internet hucksters won’t tell you is tht the Internet is one big ocean of unedited data, without any pretense of completeness.
These expensive toys are difficult to use in classrooms and require extensive teacher training.
Then there’s cyberbusiness. We’re promised instant catalog shopping–just point and click for great deals. We’ll order airline tickets over the network, make restaurant reservations and negotiate sales contracts. Stores will become obselete. So how come my local mall does more business in an afternoon than the entire Internet handles in a month?.
Even if there were a trustworthy way to send money over the Internet–which there isn’t–the network is missing a most essential ingredient of capitalism: salespeople.
I'm not sure whether "permabears" are extinct, but there have always been individuals who resist innovation and change. They do so most vehemently, because their psychology requires a high need for structure which corresponds to a low need for cognition. Arguing with such individuals is useless as accepting they are wrong threatens their entire perception of reality. They have attempted to discourage the progress of humanity since time immemorial, and will continue to do so . Your analogies that are supposed to pump the price are wrong I'm afraid. Bitcoin is not like the internet Bitcoin = dotcom bubble. Yep, a bubble. "Supposed to pump the price"... Assumption, which is wrong. Don't judge me by assuming that we share the same motivations.. Which speaks volumes about your mindset. Internet = innovation. Bitcoin = innovation. It's funny thing you are 100% sure of yourself, that your viewpoint is unmalleable and infallible, like some ancient prophet you preach a undebatable truth, while I speak of possibilities.. |
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Bitcoin will fail, because the Internet is just a fad.. Don't believe me ? Check out this 1995 Newsweek article explaining how useless and irrelevant the internet is.. http://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306 Some of my favourite cast iron arguments from the author. Visionaries see a future of telecommuting workers, interactive libraries and multimedia classrooms. They speak of electronic town meetings and virtual communities. Commerce and business will shift from offices and malls to networks and modems. And the freedom of digital networks will make government more democratic. Baloney. Do our computer pundits lack all common sense?
And you can’t tote that laptop to the beach.
The truth in no online database will replace your daily newspaper, no CD-ROM can take the place of a competent teacher and no computer network will change the way government works.
Nicholas Negroponte, director of the MIT Media Lab, predicts that we’ll soon buy books and newspapers straight over the Intenet. Uh, sure.
What the Internet hucksters won’t tell you is tht the Internet is one big ocean of unedited data, without any pretense of completeness.
These expensive toys are difficult to use in classrooms and require extensive teacher training.
Then there’s cyberbusiness. We’re promised instant catalog shopping–just point and click for great deals. We’ll order airline tickets over the network, make restaurant reservations and negotiate sales contracts. Stores will become obselete. So how come my local mall does more business in an afternoon than the entire Internet handles in a month?.
Even if there were a trustworthy way to send money over the Internet–which there isn’t–the network is missing a most essential ingredient of capitalism: salespeople.
I'm not sure whether "permabulls" are extinct, but there have always been individuals who resist innovation and change. They do so most vehemently, because their psychology requires a high need for structure which corresponds to a low need for cognition. Arguing with such individuals is useless as accepting they are wrong threatens their entire perception of reality. They have attempted to discourage the progress of humanity since time immemorial, and will continue to do so . |
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