Bitcoin needs to first start doubling its value year over year... for now the price is too unstable and only those that actually understand the technology support it, which benefits people like us.
If Bitcoin doubles it's value year over year, that won't really represent stability, that will be incredibly volatile and speculative. |
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Imagine what happens if Greece defaults on government bonds. What will people around the world think of government bonds in general, when they understand that their pensions are basically government bonds? There could be a violent contraction of credit, thus general price deflation. On the other hand, they could just blame it on one bad government, their own might be okay. Impossible to know.
Given the financial state of Greece, I'd assume that the bond yields would have somewhat adjusted (increased) given the higher level of risk? I haven't been keeping a very close eye on Greece's situation lately. Since they don't have their own monetary policy, who is the main lender? ECB? The increase has been more than a slight adjustment. Greek bond yields have continuously increased since Sep-2014. I wonder how much higher they can go. Sep-14 : 5.9% Oct-14: 7.3% Nov-14: 8.1% Dec-14: 8.4% Jan-15: 9.5% Feb-15: 9.7% Mar-15: 10.5% http://www.ecb.europa.eu/stats/money/long/html/index.en.htmlThanks for the info. That's pretty crazy for government bonds lol. So for people already holding bonds, with that type of increase to yields, the price would have already dropped significantly. New bondholders should understand the risk and be compensated with a higher yield. Any insight into who the main bondholders are that would suffer from a default? Greek citizens or foreign investment? |
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I maxed the match on my 401k: my company pays 66% up to 10%. It was the easiest/most difficult thing to do (I question the decision every paycheck but know it is the right one ;-).
_Miracle your company pays 66% up to 10%? Sorry I'm a bit confused on this. I know the 401k is the Retirement Fund in the US. What is the normal match by businesses in the US and how much more is your match by your company then? I believe he means that he can contribute up to 10% of his gross income into his 401k, and the company will match 66% of his contribution, or 6.6% of gross income, making the total contribution 16.6% of gross income. Each company usually has it's own program for retirement savings, health benefits and a stock plan if it's a public company. I have seen retirement matching of between 0 - 175% of employee contributions. The company with 0% had a stock plan though. |
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Unless more merchants accept Bitcoin as an acceptable form of payment, I'd say a recession will likely have minimal impact.
I think developing countries with highly inflated currencies and very low regulation will be the first to readily accept Bitcoin. There needs to be a high volume of commercial transactions to stabilize the value of Bitcoin.
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Imagine what happens if Greece defaults on government bonds. What will people around the world think of government bonds in general, when they understand that their pensions are basically government bonds? There could be a violent contraction of credit, thus general price deflation. On the other hand, they could just blame it on one bad government, their own might be okay. Impossible to know.
Given the financial state of Greece, I'd assume that the bond yields would have somewhat adjusted (increased) given the higher level of risk? I haven't been keeping a very close eye on Greece's situation lately. Since they don't have their own monetary policy, who is the main lender? ECB? |
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you can get btc from faucet or giveaway
if do you have bitcoin you can trading on exchange
from the faucet is very small, even one day I did not get a 0.001. giveaway could get 0.01 even more, but this time is very rare. What is involved in "giveaways"? How does it work? |
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I think some reality check is urgently needed. You insist that deflation mirrors inflation, and I take crazy numbers for an example. Okay, you have 3% inflation and a real interest rate of 2%, not something that you would call crazy, right? What will the real interest rate then be for the deflation of the same 3% according to your logic?
You cannot have 3% deflation and only 2% real interest rate in steady state, long term. Because the *source* of deflation is also the *source* of real interest, namely economic expansion ("more goods chasing the same amount of gold"). The ONLY way to obtain a stronger deflation rate than the economic expansion rate (in steady state, long term) is when money is DESTROYED systematically. If gold is regularly dumped in the ocean or sent in deep space or so. If bitcoins become un-spendable (hehe!). On the other hand, upward, inflation wise, there is no limit. You could print so much money that you get 80% inflation if you want to, as a matter of speaking. What I meant with "deflation mirrors inflation" is for those sets of numbers that make sense. Of course inflation can be made arbitrarily big, while deflation not. But *for those sets of numbers that are possible* the two mirror situations are dual. There are indeed number combinations of inflation possible, that are not possible with deflation. But that's not the point. For those that are both possible, they are mirrors of each other. Look at it this way: I could say, in some or other mechanical problem, that "the mass increase is a mirror to the mass decrease". But then of course, a mass increase is always possible, and, as you cannot get a negative mass, the mass decrease is limited to the original mass. I don't think the only way to increase the deflation rate is to destroy money. It would be more based on the velocity of money and the volume of money changing hands in the form of transactions. Even with a high money supply where no money is being destroyed, if there aren't many transactions happening (perhaps because the interest rate is high and people are encouraged to save rather than consume) it may theoretically cause deflation as sellers of goods/services would need to lower prices to sell non-essentials assuming elastic demand. Also, it would be possible for the deflation rate to be very large; it's just that the stimulus-addicted government wouldn't think to do it. Theoretically speaking, imagine if interest rates went to 30% tomorrow. It would be sort of like hyper-deflation. Spending and consumption would drop so significantly, that prices would need to fall to sell non-essential products, which would slow down retail, then slow down manufacturing, and wages would need to fall along with higher unemployment. Realistically, this wouldn't happen though, but it is in the spectrum of possibilities. |
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Without money everything would be chaos, with money everything is chaos.
Who would make the clothes you're wearing right now for free, nobody, unless they're slaves.
Well what did people do before money? They either used good old fashioned bartering or provided services in exchange for items or other services. I think money is the best option we have currently and probably always will be but not with the way fiat money is printed willy-nilly by the corrupt minority that control it and that's why I think bitcoin has the potential to be better than fiat. Depends on the type of civilization. Commerce requires trade or exchange of money. There are also hunter/gatherer or tribal communities where people contribute what they can and work as a unit, and money wouldn't be required for that type of community. There's nothing wrong with fiat money; it's just the method for creating money that can be a problem, and is currently a problem. If FIAT had no monetary expansion as part of the policy, then it would be fine and would favour no one. |
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why is everybody coming up with different answers lol.
They're not different answers, just different ways of answering the same question: The first answer by yampi says that you will make 1 BTC in roughly 14 hours assuming a rate of 2,000 satoshis per second. This is the same as roughly 28 hours at 1,000 satoshis per second. The second answer by freeyourmind says that you will need a rate of 1,157.4 satoshis per second to make 1 BTC in a day. This is also true. The third answer by DannyHamilton says that you will make 1 BTC in almost 28 hours (1 day, 3 hours, 46 minutes, and 40 seconds) assuming a rate of 1,000 satoshis per second. That's about 1 BTC in roughly 14 hours if the rate was 2,000 satoshis per second instead (i.e. the same as what yampi said). Conclusion: 1,000 satoshis/second = 28 hours 2,000 satoshis/second = 14 hours 1,157 satoshis/second = 24 hours Yeah now that I look back at your question, I didn't answer how long it would take. I thought you wanted the rate to make 1 btc in a day. |
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Satoshi once got bit by a rattle snake........ After three days of pain and agony ..................the rattle snake died.
Satoshi can slam a revolving door. When a mosquito bites Satoshi, the mosquito suffers from an itch |
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Lets say I make 1000 satoshi a second how many days would it take to make one bitcoin?
Now how about 2000 satoshi a second? what is the equation here?
100,000,000 satoshi = 1 BTC (satoshi per day) = (satoshi per second) * (60 seconds) * (60 minutes) * (24 hours) (satoshi per day) = (satoshi per second) * 86,400So @ 1,000 satoshi per second, satoshi per day = 1,000 * 86,400 satoshi per day = 86,400,000 @ 2000 satoshi per second, satoshi per day = 172,800,000 To make 1BTC per day, 100,000,000 = (satoshi per second) * 86,400 satoshi per second = 1,157.4 |
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I think its better to join a sig campaign after you reach full member or above. Newbies, Jr. members and Members get paid very less and wearing signature very early makes you look cheap  Why make yourself look cheap when you can earn 20x of the amount you're earning after a very short time? I don't advice you to leave the campaign but I think wearing signature in the very early stage doesn't give good impression to other people, especially during trades. For Eg: You are selling a good for 1 BTC and you are a newbie wearing a signature. This probably won't make a good impression to the audience Anyways, your account , your wish! I don't force Good luck What looks cheap is when people just post for the sake of increasing their post count, regardless of what the membership status is to this forum. I don't think there is any issue with anyone having curious/intelligent/helpful things to say. Why not be a part of a campaign if it makes no difference to you? It's like saying there's no point of me making minimum wage when I was in high school, because when I graduate from university, I'll make 6X that wage. That opportunity wasn't available as a high school kid and I worked some crappy low paying jobs to have some spending money. It's the individuals own choice to join or not join, regardless of a forum membership status In the real world, forum membership status doesn't mean a thing, and if there was no signature campaign payment by membership status, it wouldn't mean much here either. |
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i get bitcoin everyday from faucets
and giveaway
how much you take bitcoin from faucets everyday? I'm sure he did not so much get bitcoin from the faucet, probably under 0.002 per day. because I've tried it and the result is not much, but if you have referrals so much, maybe a day can earn more than 0.01 I earn 0.1 Bitcoin / week from faucets, thats a realy good example. I use this list if you are interested: http://bestbitcoinfaucetz.blogspot.comThat sounds pretty high dude. How much time to you spend a week to get that 0.1btc? Or is it mostly referral based? |
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My current salary right about $ 192 / month (it's quite high on Asia) $ 77 used it to pay my life insurance $ 46 used it for daily eat $ 20 ~ 40 used it for school things & fun I'm glad that I can save my money about $ 29 ~ 49 every month May I ask what country you live in and what your age is? $77/month sounds high for life insurance and dedicating 40% of your income to life insurance also doesn't sound right. What is your coverage? Unless you have dependents that rely on you for basic needs and would be left with nothing if you were to pass away, I would tone down that life insurance. I live in Canada, and paying $70 for life insurance even given a $4000/month income is too high for me. Again, I don't know what your particular situation is, but putting 40% of income into life insurance is insane around here. Putting 40% of income towards a mortgage to pay for a house, is even on the high end, and at least you are able to benefit from the house. At around that rate for USD $77 per month, that is roughly USD $500,000 Coverage for 20 Years in Hong Kong. A decent coverage to be honest. So the question is are you treating life insurance as an insurance or as an investment for your family upon your passing? Really need to hear back from sukamosoto on what his age and coverage is. But for your example, assuming that you're 30 and the average life expectancy is ~79 years old give or take depending on where you live, it is unlikely that you will pass away in the next 20 years due to natural causes. But you will have paid about $18k in life insurance, which represents 40% of income, with nothing to show for it (zero savings and zero consumption). What is the point in sacrificing such a large portion of your income from a ridiculously large coverage like $500k? That is 217 years of sukamosoto's income. To me, that is a speculative play, where my passing would hook up my family financially, for much more than I provided for them when I was living. Perhaps sukamosoto has a valid reason for this (maybe he has many people that are financially dependent on him), but otherwise, and this is just my opinion, your income is far too heavily weighted on insurance. Keep in mind insurance companies are in the business of getting more money than they pay out. Otherwise they wouldn't be solvent. You could reduce the insurance policy and coverage down significantly to the point where you have a $5/month or $10/month premium, and you can save the other $67-72 per month. Maybe use some of that for consumption, share some with the family and save or invest the rest. It's better to live that way than to put all your eggs in the basket of death. |
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if you think like that then you have never been to countries like Malawi, Niger, South Sudan, India, China.
There are people who can't afford to drink clean water. Two times food will be counted as a luxury for them. Go out and see the world, dear.
There are many places in the world where basic physiological needs aren't met, but that isn't because of a shortage of resources or output. It is just because our resources are allocated very selectively, where a large amount of resources are accessed by a small % of people based on financial wealth. However I second the recommendation to travel as much as possible if you have the means to do so |
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I once bet 2 btc on satoshidice back when btc were like 100 each.
It was a 98% chance to win.
I lost.
lol
lol damn. Reminds me of when I was going to withdraw a small amount of btc (0.001) from a faucet/gambling site, and I thought I'd make a couple bets to cover the withdrawal fee, and immediately lost it all with a losing streak. |
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I lost 0.0015 BTC because i played betting game and now i lost 0.0015 BTC. I will not play betting games again  You learned your lesson quickly my friend. Most people need to lose a lot more than that before they learn the same lesson |
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flappybird android
and investment games. that always turn to scams.
free games always have very low earnings
Flappybird android can earn you bitcoin? since when? im going to download it right now and try. Another excuse to play the stupid game again lol. Edit: I cant find it in play store.. where is it? The app is called "Coin Flapper". It's a game that is similar to Flappy Bird, which is no longer available, and does pay bitcoin. Search for it in the google playstore and look for the blue logo of a bird with a bitcoin logo in the middle. |
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Please remove me from this signature campaign. I'd like to thank you for providing great service, frequent updates and prompt payments.
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