Krugman was saying Bitcoin could NEVER work as a monetary system because it's designed to be deflationary. I.e. People would hoard instead of spend
This is why gold never worked as a monetary system either  Great insight ! . . .
It inflates initially; however, that inflation decreases to nothing over time (and, in fact, “becomes” deflation as the rate whereat coins are lost or made “unspendable” overtakes their production).
Yes, exactly like gold. My comment was ironic, because gold was the universal money for about 5000 years, until it was taken over by fiat, which was initially a gold scam. This is wrong. You Need to read Graebers History of Money In modern times gold was reserve money and mainly used for international trade but inside the nation, money was largely credit money. Credit money and metal money have always coexisted. Gold itself wasn't the money it's the coins with stamp of the king on it. In essence money has always been a creature of law whenever there is a state |
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Krugman was saying Bitcoin could NEVER work as a monetary system because it's designed to be deflationary. I.e. People would hoard instead of spend
This is why gold never worked as a monetary system either Great insight ! Keynesians are wrong in many respects, but they are a great theory if you are a state: it gives you the excuse to get more and more your hands on everything, and to spend more than you can. Who wouldn't be seduced by the prospect that spending like crazy is a good thing ? Gold hasn't been a monetary system for a long time. Certainly not in Keynes time. Besides gold is not deflationary so what does it have to do with this statement? |
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Price is stabilising in the short term.
I dont think its very likely that it will stabilize in this range for too long, i think it will either go to 160< or chu-chu to 250~ or so and settle down there. I agree. 190 needs to hold here but no volume |
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The Bitcoin supply has only been inflating at consistently lower rates (e.g., ⅟ₙ₊₁ after 𝑛 blocks when the Bitcoin block reward was fifty bitcoins), so a progressive reduction in spending would seem to be expected under the economic theory.
The theory applies to monetary systems (macro) not some small gambling party. Krugman was saying Bitcoin could NEVER work as a monetary system because it's designed to be deflationary. I.e. People would hoard instead of spend |
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that is like dead and no FOOL will buy it.
many people already lost a alot of money. these are ordinary people and will never come back to Bitcoin.
The core of this shit, called Bitcoin are the normal(ordinary) people with 100-1000 usd to "invest". Once they are burned, they will not come back.
of course, the "smart" ones (exchangers and few others) earned A LOT.
I don't know anyone that recommends investing in Bitcoin. In fact, most bulls are emphatic that folks use dollar cost averaging and not impulse buying. Anyone that used DCA over 2014 is only down about 60% and if they are still buying then it will likely average out reasonably soon at this level. Only down 60%. Good god man, that is a lot |
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It all depends on supply and demand, unlike regular money we can't just keep printing when needed.
There is no demand. Nobody says I will ONLY accept Bitcoin |
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It's hard to say without an economy that only accepts bitcoins. Silk Road was the closest to such an economy.
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Yup nice rejection off the 50 SMA. If 20 SMA doesn't hold, then buh bye
Nice timing on the short entry if you get the breakdown
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I think Krugman said that and he's talking about macro. So he's not wrong but you don't understand economics
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Too early to call reversal. Probably just short covering
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It's at $179/BTC. At this rate, I would lose $200 exactly. Do you think I should cash out?
You should plan your trade before you trade. If 200 is a lot then close the trade. There's a market every day. Don't need to fall in love |
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Why am I not surprised that most bitcoin bulltards are also 9/11 troothers? It's apparent that an aversion to reality is required to be a believer in bitcoin at this point.
That's how they pull in the greater fools. Create paranoia about how banksters and .gov is out to get them and presenting bitcoin as a safe haven |
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Screw bitcoin You should buy TWTR. It recently broke out of bearish channel from Sep 14. Needs to hold $40 to be a bullish reversal. Wait till it gets slightly above $40 and buy then set a stop @ $40
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The Captains are abandoning ship. First Gavin now Andreas, who will be next......... Satoshi? LOL  |
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Every day, there is more freedom from oppressive governments because of Bitcoin. You don't see it because your government is your all-inclusive udder. But look at the people from whom the money to feed you is coming. They need it.
All this libertarian claptrap is a red herring used to pump the price. Early adopters have major baggage that need greater fools to dump on. The only thing anyone should look at when investing REAL money is the price action. Bitcoin is a bubble that is deflating. Anyone taking your advice would have been losing money. He thread banned me cause I called him out on being wrong about the price action and trying to divert the topic to "freedoms". Yet people here still following this nut case because he got lucky ONCE |
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You can go to prison for market manipulation. Would they take that risk?
How could regulator justify their manipulation and enforce the law? They can destroy the trading data seconds after the crash. They can physically hide just like Snowden and enjoy happy life in Russia. The mentality of those exchanges are exactly "get rich quick". I don't think they have any moral standard working around. They have lots of VC backing. Not sure if they would dare pull such a stunt. Kudos if they tried LOL |
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You can go to prison for market manipulation. Would they take that risk?
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I'm thinking about selling guys.  Please convince me not to sell! they don't give a shit about you. Save yourself first man |
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I'm sitting waiting to pull the trigger to buy another 1 BTC. wait for sub 200 or just pull at 205?
why do that when you can short? |
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OMG my replies are removed?  Mr. Freedom is in to censorship like the hypocrite he is!!! |
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