@Melbustus: You're talking about an improvement on gold, not fiat. Controlling the money supply is a useful property of fiat, a tool not available with Bitcoin. TL;DR: Deflation is not "a good thing." See http://en.wikipedia.org/wiki/DeflationAt this point, Bitcoin's inflation rate is way higher than USD--that's what mined coin is. Bitcoin supply will continue to inflate throughout our lifetime. As was pointed out by Satoshi, the price of Bitcoin tends to the cost of mining it (and vice versa). In other words, the price of producing one bitcoin tends to the cost of producing it. This means that if Bitcoin ever becomes substantially more valuable, the value dumped into mining it will proportionally increase. Do you think that ~10% of the world's wealth is going into maintaining today's fiat "ledger" every year? this myth again  Huffed Mop & Glo instead of getting brainwashed in school, huh? Ain't no foolin' a bright feller like you!  please please, entertain me with your deflation is bad theory and how it applies to Bitcoin It is not my theory, it is a theory agreed upon by the majority of grownups. As much as the egalitarian in me wishes to provide you with the education you so clearly lack, the Good Book warns me about casting my pearls before swine. I'll compromise with a quote from wikip: "Economists generally believe that deflation is a problem in a modern economy because it increases the real value of debt, and may aggravate recessions and lead to a deflationary spiral." http://en.wikipedia.org/wiki/DeflationNow go and play. Well your sources are top notch. I also hate it when I deficit spend my Bitcoins, I can completely imagine how all my bitcoin debt could collapse the economy under the weight of deflation... My dear lyth0s! You misunderstand my role in this thread. I'm here to edify, not to defend a doctorate. The link provided is an introductory economics text for my wayward young charge, brg444. Not a citation. Enjoy your evening. |
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The market cap is now half of what it was, at $320,000 now. A steal considering how many houses that is worth.
... Those hoses, if they exist, are owned by a Hong Kong shell co. You obviously love getting surprise buttsecs from OP *.005 is below each and every "IPO" price. But let's be a bit more precise: Today's price is actually .0046. ~Happy Investing! |
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Lol @ mises.org That's like learning history from stormfront.org  |
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@Melbustus: You're talking about an improvement on gold, not fiat. Controlling the money supply is a useful property of fiat, a tool not available with Bitcoin. TL;DR: Deflation is not "a good thing." See http://en.wikipedia.org/wiki/DeflationAt this point, Bitcoin's inflation rate is way higher than USD--that's what mined coin is. Bitcoin supply will continue to inflate throughout our lifetime. As was pointed out by Satoshi, the price of Bitcoin tends to the cost of mining it (and vice versa). In other words, the price of producing one bitcoin tends to the cost of producing it. This means that if Bitcoin ever becomes substantially more valuable, the value dumped into mining it will proportionally increase. Do you think that ~10% of the world's wealth is going into maintaining today's fiat "ledger" every year? this myth again Huffed Mop & Glo instead of getting brainwashed in school, huh? Ain't no foolin' a bright feller like you! please please, entertain me with your deflation is bad theory and how it applies to Bitcoin It is not my theory, it is a theory agreed upon by the majority of grownups. As much as the egalitarian in me wishes to provide you with the education you so clearly lack, the Good Book warns me about casting my pearls before swine. I'll compromise with a quote from wikip: "Economists generally believe that deflation is a problem in a modern economy because it increases the real value of debt, and may aggravate recessions and lead to a deflationary spiral." http://en.wikipedia.org/wiki/DeflationNow go and play. |
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Lol @ mobile wall=>Chinese screen.
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Fiat money is an awful long-term store of value, that's how and why it works.
FTFY Modern money = BTC Fiat is so 2001  |
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@Melbustus: You're talking about an improvement on gold, not fiat. Controlling the money supply is a useful property of fiat, a tool not available with Bitcoin. TL;DR: Deflation is not "a good thing." See http://en.wikipedia.org/wiki/DeflationAt this point, Bitcoin's inflation rate is way higher than USD--that's what mined coin is. Bitcoin supply will continue to inflate throughout our lifetime. As was pointed out by Satoshi, the price of Bitcoin tends to the cost of mining it (and vice versa). In other words, the price of producing one bitcoin tends to the cost of producing it. This means that if Bitcoin ever becomes substantially more valuable, the value dumped into mining it will proportionally increase. Do you think that ~10% of the world's wealth is going into maintaining today's fiat "ledger" every year? this myth again Huffed Mop & Glo instead of getting brainwashed in school, huh? Ain't no foolin' a bright feller like you! |
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Winrar! Anyone wants to call how high we go before dump? My guess: 363
368. Edit: Duh. I can't read. Thought it was 63. |
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Those are crazy people. Stop hanging around crazy people, manfred  *Dat wall  |
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Attention bearwhale(s)!
If you want to sell 10-15kBTC without much slippage (Stamp+Finex combined) , now is your time!
Last chance before we go to double digits!
You left longs open ... over the weekend?! |
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^
Patience. There's plenty of play left here.
be moral and clever. I explain exactly what to expect when "investing" in Bitcoin. I don't [intentionally] hold anything back. After that, it would be hypocritical of me to hold back and not to deliver on my promise, no? |
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Wall will probably get eaten(by himself?), but what hapens after that?  OMG Hysteria...  |
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^
Patience. There's plenty of play left here.
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the dollar lost 90% of its purchasing power since 1913 and in the last 5 years it has been printed to oblivion, it is clear it will fail the same way as all the other paper currencies have failed in human history,
but hey, don't worry, im sure its different this time...
Another chunk of terrible logic. Yes, the dollar buys less than it did in 1913. To compensate for that, the average income has risen from $740 per year. Things I have to explain... what about people's savings? they lost 90% of their purchasing power. the average income did not rise as fast as inflation, not nominally and sure as hell not after taxes. Money is not mattress stuffing. You want savings, by bonds or invest. Or simply buy stuff that has real value. Anyhow, this is all purely academic. If you have "invested" in BTC this year, you have fared substantially worse than the rubes who kept their savings in USD. Way worse. bonds are a loan and like any loan carries a counter party risk, investing also carries a risk. buying real stuff that can't just be diluted out of thin air is good for saving. how about we just make that money instead of some papers? that way whenever i don't want to invest and just want to save my purchasing power for later use i can just hold my money without having my purchasing power arbitrarily robbed by a bank... Modern money is an awful long-term store of value, that's how and why it works. I know the anal retentive in you is jonesing to hoard stuff, but hoarding money is not only amoral, it's [fortunately] also stupid. As stupid as hoarding steaks or delicious caek--why not complain about that? *You're not being "robbed by a bank," unless you mean Bitcoin banks like Neo Bee etc., etc., in which case: I told you you would be. |
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I´m here. I will pump this fucker to the moooon in the next hours. You have been warned.
Thanks, blowjob! |
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the dollar lost 90% of its purchasing power since 1913 and in the last 5 years it has been printed to oblivion, it is clear it will fail the same way as all the other paper currencies have failed in human history,
but hey, don't worry, im sure its different this time...
Another chunk of terrible logic. Yes, the dollar buys less than it did in 1913. To compensate for that, the average income has risen from $740 per year. Things I have to explain... what about people's savings? they lost 90% of their purchasing power. the average income did not rise as fast as inflation, not nominally and sure as hell not after taxes. Money is not mattress stuffing. You want savings, by bonds or invest. Or simply buy stuff that has real value. Anyhow, this is all purely academic. If you have "invested" in BTC this year, you have fared substantially worse than the rubes who kept their savings in USD. Way worse. |
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... Starting to seem like a wall for me. Where has our $350 hero gone? |
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the dollar lost 90% of its purchasing power since 1913 and in the last 5 years it has been printed to oblivion, it is clear it will fail the same way as all the other paper currencies have failed in human history,
but hey, don't worry, im sure its different this time...
Another chunk of terrible logic. Yes, the dollar buys less than it did in 1913. To compensate for that, the average income has risen from $740 per year. Things I have to explain... |
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@Melbustus: You're talking about an improvement on gold, not fiat. Controlling the money supply is a useful property of fiat, a tool not available with Bitcoin. TL;DR: Deflation is not "a good thing." See http://en.wikipedia.org/wiki/DeflationAt this point, Bitcoin's inflation rate is way higher than USD--that's what mined coin is. Bitcoin supply will continue to inflate throughout our lifetime. As was pointed out by Satoshi, the price of Bitcoin tends to the cost of mining it (and vice versa). In other words, the price of producing one bitcoin tends to the cost of producing it. This means that if Bitcoin ever becomes substantially more valuable, the value dumped into mining it will proportionally increase. Do you think that ~10% of the world's wealth is going into maintaining today's fiat "ledger" every year? |
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