No it mustn't pay less, that doesn't make any sense, you're applying ultimatums to a situation that doesn't require it.

Income does not go down if everything goes down, it means it's easier to earn money because you don't have to earn as much of the currency you're paying in, this is another bullshit statement perpetrated by pro-inflation economists that ignores basic mathematics which I am getting quite annoyed by nowadays.

Tell me, how exactly does it mean that people have to work more if things are cheaper? Are you actually going to use an example? Or are you just going to keep parroting that same bullshit again and again?

Let me give you an example:

If I wanted to get a Cintiq it would cost me:

$1000

In Bitcoin that's roughly 1.22 BTC - 1.22BTC is worth a tiny bit more than $1000 lol, I'd have to go into 8 decimals to calculate it properly but I'm not that good at maths

Now the problem here is you assume that deflation will carry on infinitely, that's just not the case because there is a hard limit of 21 million coins, so eventually if hyperinflation keeps going $1000 will be 0.00000012 BTC rather than 1.2 because of course a Bitcoin can be broken up into decimals. So in actual fact over time it will simply get cheaper and cheaper to buy a cintiq assuming you still want to value things in dollars but I suspect by the time 1 BTC reaches higher than $3000 people are going to think twice.

In inflationary money like the dollar it would be the opposite, because the federal reserve keeps printing so much you'd have $1000 at first but because they keep printing the money the overall money supply increases and the suppliers are FORCED to charge higher because everything else goes up to eventually you're going to end up with a Zimbabwe situation where you're going to have to pay $100,000,000 just to get something like a Cintiq. The thing you fail to realise is that in an inflationary economy everything goes up when you print money you can't just have it affecting 'the rich' or benefiting 'the poor' and that means that in order to get anything they need anyone would have to work longer hours for less pay because again suppliers and employers would be forced to put the prices up to cover their needs as well as the price for materials and tools etc. would have gone up along with anything else. These are just rough estimates I've done in my head but I think pretty realistic of the kind of problems we'll be facing in the next five or so years.

Yes, you can maybe remedy the situation by giving tax cuts and fixing prices like our leaders have been doing currently for their own ends now, but it's only a temporary fix and it doesn't get rid of the overall problem which is the fact that you're increasing the currency supply and forcing prices up thereby making it more difficult to get what they need never mind what they want.

If anybody still ignores this, you really are a moron.

Current economic theory has become a religion and like arguing with anybody religious it's pointless, the only thing you can do is prove them wrong with undeniable evidence, think about it, how long did it take for people to prove the world was round and that evolution isn't a theory? Even with all the evidence presented to them there are still people who have been pretty much brainwashed into believing in this stuff so there's no point in giving them the attention and trying to come to a consensus with them.

Yes, I think we've been socially engineered to think that deflation is a bad thing but when you look at the numbers this belief system just doesn't add up, especially if you take into account how much is being borrowed to pay for this inflationary economy we're in, deflation doesn't just get a bad name, it gets blatantly attacked.

They're just hijacking the Bitcoin name and trying to claim it has links to some kind of currency Edison tried to invent back when he was alive, they disabled the comments so people can't point out that it's a load of bullshit and people should ignore the video.

It's another classic case of some moron trying to imply his opinion as fact and then completely ignore anything going against it, move along people

There's a common misconception about Libertarians and even Anarchists where people make assumptions that because they're against large governments they're automatically against everything about them, you can taxed healthcare ( please don't use the term free ) on a small or localised scale without robbing everybody of their cash especially if you're efficient about it.

Anarchists and Libertarians also aren't against the idea of communities organising their own free healthcare which is another blatant lie people against Anarchism/Libertarianism tend to believe, at least not the intelligent ones I've seen but that's only if you're absolutely against government.

Yeah, you just aren't being realistic.

I'd code games and build other stuff ( which I'm keeping a secret ) I'm technically already on my way to doing that it's just it's going to take longer and I have to do smaller scale stuff to earn money first.

Hot

LOL I wasn't talking about that, more like the amount of effort they have to put in to get a man but that's true too

That's less to do with the verification process sadly and more the company being run by a bunch of wankers.

How are they going to get into the wallet even if they do confiscate it? Supposedly the FBI don't even have all the coins they confiscated from Silk Road because the guy in charge had the sense to put a password on his wallet. These guys can't even operate an email address or website without fucking it up so what makes you think they know anything about using a cryptocurrency? Also the police and the army aren't going to stick around if their governments currency collapses and they won't get paid.

Nuclear Bombs, Military Industrial Complex, Secret Police, Surveillance, establishment of dictatorships in other countries

Yes, I do believe it's wrong, the good government achieves all it does through the stealing of other peoples wealth ( which is wrong in itself ) but it is completely outweighed by the amount of atrocities government commits across the world.

When did you become a soothsayer? You haven't even taken into account the fact that Bitcoin cannot be taxed or confiscated, there's also the fact that any changes a government tries to make to the source code is immediately going to be spotted if they try anything. I can certainly predict that governments may go ahead and hire people to make their own cryptographic currency to suit their needs, maybe even update the code to force businesses and people to accept high transaction fees to fund the country but that's the most they'll be able to do. People will always have the choice now to just ditch the currency they're using and move onto a different one instead on a whim and if they have an alternative like Bitcoin I really doubt they're going to stick around for another Freicoin where the majority of your profit is taken from you through the code.

Any government that adopts Bitcoin is going to have to be intelligent enough to realise they can't control it and that's a tall order for politicians.

Which section exactly are you referring to? You're being nice and vague as usual, I suppose you mean "Turning point and recovery" right? This wiki article seems to me to be also skewed pretty much in favour or the kind of economic school that you're preaching but even this isn't being clear and specific about when and what actually caused the U.S to exit the depression and I'd argue that the U.S hasn't ever left the great depression because it's still on paper and borrowing more than it earns.

Disregarding the whole paper vs gold argument, the basic mathematics of borrowing more than you're earning means you're just losing money every year and no matter who you are you can't just ignore that, well there are people out there that do like you but that's why you'll never make money in life.

I hope your trolling, that was a meteor that landed in Russia ages ago.

Give us some examples from history of it being necessary?

Anarchist/Libertarian

Don't ever mine for the short term or on a full time basis, it's fine if you want to earn some extra cash or get some coins to stash away for awhile but you won't make money if you mine the way a lot of people do on this board, I would argue that Litecoin mining and Namecoin mining aren't profitable enough if you're going to go long term because the difficulty is so high you won't be able to stash many coins for the long run but this is something people have bickered about since Bitcoin came into being.

Governments can threaten all they like and pass laws against Bitcoin but the fact is the only way they're going to kill Bitcoin is by killing off the internet as well and that would piss off too many people, that's why people don't care, plus the Chinese hysteria was pretty fake, you can still trade Bitcoins as individuals for paper money just not exchanges and financial companies.

It's the same thing where a fake post about the Thailand central bank panicked people who didn't know anything and it managed to scare people with big holdings in Bitcoin.

BBC, the Fox News of Britain