One of the core tenants of bitcoin being capped at 21mil is that "Some Government Mandarin cannot just whisk new coins into existence" as Patrick Byrne of Overstock.com was quoted as saying recently. Well apparently he's wrong, as any idiot can just whisk a new alt-coin into existence, and lure fools in by trying to convince them that they are just as worthy as BTC long term. Remember IOCoin, anyone? Naw, didn't think you did. The free market is a bitch, isn't it? This isnt over, by a long shot. |
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No fresh money before Moon hits a few Litoshi's of worth. A rocket needs firm ground as launch pad.
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Great news. Glad to hear that Zeta is still 'building'.
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do you guys think that it will hit $1-$2?
Of course. |
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Disagree.
How the funds are used isn't the issue. The fact remains that an income tax is immoral, destructive, and unnecessary, and should be abolished.
how would you pay teachers,doctors,road workers, train workers etc.? With this thing called money, and my hands. I guess you haven't heard of them. So it's not free after all. |
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Finally, my purchase decisions are not affected by a few percent of inflation. I buy if I need or want something. Inflation is mostly an annoyance to me (saving is impossible in our current system).
You are contradicting yourself there. Because saving up in cash has been made impossible, as you say, you save less and buy more. The point is that people should save wealth in production, not in money. Perhaps it seems that way but wealth can be stored in other means than cash. It does not neccessarily increase my consumption. Whether people 'save' in production should be a free choice to make, not a forced one. |
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If nobody would spend money because of a rising value of money, that money would - in the end - buy less again because the economy is not growing but shrinking. Of course, this is a contradiction. No such thing will happen. Instead, an equilibrium will exists that indeed differs from our current system.
Nobody will hoard money indefinitely. There is a simple reason for this: time.
Nobody lives forever, right?
Well, someone will always buy something. Just less people buy something. When inflation motivates people to consume more, then you can be sure that deflation will motivate people to consume less. Of course there won't be radical outcomes that no money will be spent, but a country that runs on deflationary currency, will fall behind in economic development compared to countries with inflationary currency. It's like with communism or just plain old socialism, where everyone will work less and work is less important in society in general, but everyone are also poor because the lack of quality production. I have lived in Soviet Union, so I know how childish economic dreams can create deficit in even the most regular goods. Well, we know for sure that we do not become richer because of money printing (inflation). Second, stimulating demand by borrowing from the future is not bringing a net positive in the longer run. Finally, my purchase decisions are not affected by a few percent of inflation. I buy if I need or want something. Inflation is mostly an annoyance to me (saving is impossible in our current system). So to me the artificial inflation argument does nothing right. Its just a gimmick that leads to a redistribution of existing wealth. Communism has nothing to do with this. |
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Yeah, this "Let's just give everyone money and everyone can be rich!" doesn't work in real life. Money doesn't always equal wealth, you know..
Actually it is production that creates wealth and production is stimulated by consumption.
When world currency would be deflationary then consumption will slow because everyone will be motivated to hold onto their money, not to use it on consumption. That in turn means that production will slow down and that actually means less wealth to everyone.
Now, if the globe would be in one peaceful society, then maybe it could fly. Less consumption would mean less destroying our natural enviroment and all. But because evolution dictates the survival of the fittest, this laziness propagating economic way won't work. People who work more and better will always rule over those who just want to sit on their ass.
There is a logical fallacy in assuming a rise in value of a currency and a shrinking economy. If nobody would spend money because of a rising value of money, that money would - in the end - buy less again because the economy is not growing but shrinking. Of course, this is a contradiction. No such thing will happen. Instead, an equilibrium will exists that indeed differs from our current system. Nobody will hoard money indefinitely. There is a simple reason for this: time. Nobody lives forever, right? |
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ANNOUNCEMENT: NEW MAC WALLET IS AVAILABLE!Special thanks to BitcoinTalk Forum member maxpower for providing the new compiled GUI wallet! Maxpower has provided GUI wallet builds for a couple dozen altcoins and we appreciate his support!http://download.mooncoin.info/ Great to see that great people are helping you out. |
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dogecoin is in serious trouble now, as a clone of it, do the mooncoin devs make any effort to avoid the same shit of dogecoin gene?
if not, i perfer to walk away...
What trouble is dogecoin in now? Care to elaborate? The blockchain forked. No further info on what is happening or being done to remedy this fork. |
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How long until reset at the current pace? If it is 2 weeks or less, I would opt to leave things as they are now. Mooncoin has survived a lot of stress already and will definitely survive another two weeks giving the people most remote from an active Internet life the opportunity to adapt in time.
You dont want to run into the problem of confusion about 2 updated wallets.
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Personally, I don't think BTC is a "terrible prospect"
Nobody feels excited by Bitcoin anymore. And by nobody I mean no speculators. When speculative sentiment turns lukewarm, indifferent, and then even negative on a largely speculative asset, there can only be one logical conclusion. Bitcoin will find it's low in this bear trend, not with a flash or a bang, but with a whimper. Holders of $200 - $300 (or whatever) Bitcoin will think nothing of selling them and buyers will think nothing off buying them. That will be how sentiment is by the time this bear trends reverses, by which point the majority will not even recognise or care that is has reversed. That is how it was in Bitcoin twice before, that it was how it was in the precious metals markets up until very recently (they are taking off again). This is how it will happen. Feel free to 'quote for truth' in order to remind me of how wrong I was at some future date, cos the opportunity aint ever gonna arise as far as this call goes. This +1 |
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The price point is getting more attractive, I would say  |
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I'd love to see the results of all ongoing projects. Community makes the coin.
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So hows the donation going? I am not going to wait forever |
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In summary: you can't apply a technical analysis when something changes as drastic as bitcoin, the adoption is still growing and becoming more widely accepted worldwide. Bitcoin is still very unknown to the masses.
this. This does not mean that Bitcoin will never have a slow period like 2011/2012 again. |
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Bitcoin and no HODL = sure loss |
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Other alts are sinking as well. Just buy more  I did, and was rewarded  I'm doing this with Devcoins. I am already content with my current exposure in Zeta. |
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All the bulls are stupid. This is going BELOW 400$ ! Probably 200$ and below!
Quoted for future reference. |
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Other alts are sinking as well. Just buy more |
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