The world absolutely can survive without the Dollar as the reserve currency. China and many other countries would eventually be fine without it. The US would eventually recover, too (although probably not to where we are today). The problem is that the transition would be very very painful.
I think the transition from everybody being continually robbed to everyone not being continually robbed will not be as painful as you think. Good point  tee-rex : savings are good, consuming on credit is bad
What about savings versus direct consumption? Which one is better? You won't get away with this question so easily.  Correct but you cannot have a healthy economy with increasing salaries (in real terms!) and increasing standard of living if you consume on credit but your industry is stable or decreasing, your taxes are going up, your trade&public deficit are going up, your unfunded liabilities is going up, the number of employed people compared to the total of the population is going down and the quality of the jobs is going way down (look at the last jobs reports : mostly part time jobs and full time jobs are destroyed at an alarming rate!) You didn't answer my question...  In the states it would be healthier and better for the economy in a long term perspective if consumers were saving more and consuming less So you are essentially saying that producers should bear losses or withstand profits shrinking (since people would spend less and save more), and that would serve the economy better in the long run, right? Am saying that going into debt to consume is extremely bad for the economy; nations that succeed like the USA before are nations of savers, producers, a stable country with a strong currency; you cannot consume with debt forever, it ends badly so the USA would fair better in long run if consumers were not going into debt to consume like it used to be; you use to save to buy something |
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How did this argument get from about student loans, too insulting each other's jobs:(
Seriously.
Student loans need to be fixed. They are so wrong right now that it isn't funny. People have to work 3 jobs to make dues and pay their bills.
The government has to get out of the way and stop inflating the tuitions costs When the government starts to get interested in a market, the prices go up : "If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it" |
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It is absolutely insane. I have a computer science degree and am working at a help desk right now.
So I apply to companies to be a programmer.
"We are looking for someone with experience"
How are you looking for someone with experience at an entry level job....ummmm what
When everyone has a degree, the value of each degree goes down The number of good jobs is going down because of heavy regulation and the state intervening in most markets; on the last job report we can clearly see a huge loss in full-time jobs replaced by part-time jobs |
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Cost of living does not seem to factor in that argument at all. Someone who makes $5000 a year in Guatemala or Nepal arguably has a higher quality of living than someone barely scraping by on a working class (less than $40K) income in a developed country.
$32K a year in Los Angeles and New York is only going to get you a moldy basement with roommates or a dingbat apartment built back in the 1950s. Whereas you can live like a king in a lot of third world countries at a $100 to $300 a month budget.
You need to take into account the cost of living and compare the revenue after taxes According to http://www.globalrichlist.com/ if you make more than $32,000 you are among the richest people in the world. Also if you have more than 1400 bitcoins you can consider yourself among the wealthiest 1% in the world along with the Rockafellers and Venderbuilts. This is a clear reminder of how poor most of the world is. Oh wow that was so well put that I had to quote it and point out for anyone else who may have missed your post. That is such a great example of how bad things really are. I commend you for hitting the nail right on the head. The world has never been so wealthy, tens to hundreds of millions of persons go out of extreme poverty every year; 1billion persons went out of extreme poverty in asia in a few decades And the proof is..? Anyone can manipulate statistics to make it look like anything is happening. The only thing which has happened is increasing urbanization and I don't know if I would characterize that as an end to poverty. It's arguably better for people to live in rural villages with their own homes than to crowd people into slums and urban sprawls. Revenue per day, having a bicycle or not, access to water, death at birth, life expectancy, nimber of children, % of literate are not subjective, it is a revolution that has started a few decades ago and it still going on : people are coming out of poverty thanks to the free market but the big states are slowing down the process with corruption, spending and bad regulations Learn about the world you live in! BTW the calculator should also take into account if you are a family of one two three... |
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I wasnt able to reply to most all of you but after seeing last all quarter final matches refs are better off. Glad to see c;ash of titans in semis meaning brazil and germany ass well as holland argentina.
Worst ref on this tournament was the one who judge brazil columbia, he didnt show 2 red card that was obvious. For brazilian golakeeper and that columbian karate kung fu juicu tajuicu or what to call that kick on neymar.
Sorry but refs blow to many games this time.
You will be happy with the changes implemented by the FIFA then with video ruling live Sucks how in the later rounds there obviously aren't as many games. I liked how there were like 3 games a day in the earlier rounds!
When the cup is starting it seems like it will last for a long time with tons of matches. After the group stage it is almost over, so few games  At least the quality of the matches goes up a lot. The 8 teams playing in quarters finals were all playing very good! Great soccer/football |
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Like so many things in life, moderation is important. The internet has done many amazing things for society. In many ways, we would be worse off without it. But if you spend too much time on it, it can be detrimental. Social websites are great for staying connected with people and sometimes meeting new ones, but you really need to spend time with people face-to-face to have real relationships. You can do amazingly fast research with the internet, but you have to be careful to find reputable sources, and you need to know your own limits. You need to know when it's time to unplug and go take a walk outside.
Agree that internet relationship are incredibly less rich than a real relationship face to face because it is virtual Internet has to be used for productive things and like a tool; it is very unhealthy to be stuck on it all the time and to depend on it for pleasure |
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Don't you wish sometimes that you were born before internet was invented so you wouldn't lose so much time online? Internet is great because it offers so many possibilities, it brings people together and allow everyone who is motivated to learn about the world Someone like Stefan Molyneux probably wouldn't have an audience without internet, now he can spread the knowledge to everyone who wants to listen and maybe we can change the world : https://www.youtube.com/channel/UCC3L8QaxqEGUiBC252GHy3wBut you can lose a lot of time online, our activities are being watched and we get to have too much informations which can be painful when you can't do much about the problems you are learning about |
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China is not a total success story either. There are stories of success, but there is a huge amount of hidden malinvestment that has yet to fall out. There are plenty of insolvent companies and investment schemes being held up by the government.
1 Billion people going out of extreme poverty in a few decades, average hourly salary going up 5-15% every year, hundreds of millions of people living as well as in Europe or USA (same average salary after tax) and the number is growing by 5-12% a year when it wasn't a few millions that were living as well as in Europe or US a few decades ago Does that feel like an economical failure?? No, it is a huge success, the best success story of the last 30years in terms of magnitude What you're describing is what happened in the U.S. from about 1946 - 2000. The most vigorous, sustained periods of growth, took place from early 1961 to mid-1969, with an expansion of 53% (5.1% a year), from mid-1991 to late in 2000, at 43% (3.8% a year), and from late 1982 to mid-1990, at 37% (4% a year). After the financial crisis of 2008, it's been all downhill for the U.S. But this doesn't change what PirateHatForTea said about the Chinese economy. The shadow banking system there is hiding billions in bad investments and ponzi schemes. It's like a house of cards, just waiting for a few bad apples to fall. Once the whole thing starts to snowball, the Chinese government won't be able to bail them all out. You are talking about growth of GDP that doesn't take into account increasing debts and fake government inflation number; give me the variation in revenue after taxes in real terms or in Gold from 1940 to now and 1970 to now and the median capital in real terms or gold... |
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In order to see the price of bitcoin, gold and all commodities goes up, we need the dollar's price (or value) to go down. In other words : inflation. With QE infinity, the world is heading towards inflation !. So good news for US  There is certainly a correlation (and sometimes a strong one) between the strength of the dollar and the price of commodities and other currencies, but it's not a perfect correlation. If the dollar weakens, that could help the price of bitcoin rise, but not necessarily. Ultimately, the price of bitcoin in USD is simply determined by how much USD people are willing to pay for it. The price of bitcoin in USD will only rise as a result of USD weakness if people believe that bitcoin will hold its value better than USD. And btw, the US is still on course to continue tapering its bond purchases, so QE infinity is (theoretically) coming to an end. The Fed is also expected to start raising interest rates within another year or so (of course that prediction keeps getting moved back), which will remove the last of the stimulus. This is true regarding the value of the dollar. However in times of economic (and geopolitical) crisis the dollar tends to rise as it is considered the least risky asset class. Dollar has value because you can still buy oil with it. In time of crisis, people and central banks usually flock to gold. The dollar has value because it is the most widely accepted form of payment accepted throughout the world. It doesn't mean they can create USD in any amount and it won't lose its value Countries and companies can stop using USD tee-rex : savings are good, consuming on credit is bad
What about savings versus direct consumption? Which one is better? You won't get away with this question so easily. Correct but you cannot have a healthy economy with increasing salaries (in real terms!) and increasing standard of living if you consume on credit but your industry is stable or decreasing, your taxes are going up, your trade&public deficit are going up, your unfunded liabilities is going up, the number of employed people compared to the total of the population is going down and the quality of the jobs is going way down (look at the last jobs reports : mostly part time jobs and full time jobs are destroyed at an alarming rate!) You didn't answer my question... In the states it would be healthier and better for the economy in a long term perspective if consumers were saving more and consuming less |
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Cost of living does not seem to factor in that argument at all. Someone who makes $5000 a year in Guatemala or Nepal arguably has a higher quality of living than someone barely scraping by on a working class (less than $40K) income in a developed country.
$32K a year in Los Angeles and New York is only going to get you a moldy basement with roommates or a dingbat apartment built back in the 1950s. Whereas you can live like a king in a lot of third world countries at a $100 to $300 a month budget.
You need to take into account the cost of living and compare the revenue after taxes According to http://www.globalrichlist.com/ if you make more than $32,000 you are among the richest people in the world. Also if you have more than 1400 bitcoins you can consider yourself among the wealthiest 1% in the world along with the Rockafellers and Venderbuilts. This is a clear reminder of how poor most of the world is. Oh wow that was so well put that I had to quote it and point out for anyone else who may have missed your post. That is such a great example of how bad things really are. I commend you for hitting the nail right on the head. The world has never been so wealthy, tens to hundreds of millions of persons go out of extreme poverty every year; 1billion persons went out of extreme poverty in asia in a few decades |
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Nowadays I'm really hoping for a Brazil-Argentina final. I think that would be an epic South American battle for an epic South American WC. It'll give Messi the chance to prove that he's on par with Maradona. We'll know in just a little time!!
Yes would like to see Brazil-Argentina then Argentina to win! Messi hasn't done anything spectacular in the game against Belgium in 1/4th I've got a couple of free £5 bets so I might put them on Germany to win just so I'm covered whatever happens. Tempted to put both semi games as draws or to go into extra time/penalties. I'll see what deals/odds they come up with.
If you like a team, bet on the other so you are happy either way  If you like one team a little bit more than the other you bet a little bit on the other team but if you love one team you bet huge on the other team |
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My worst decision was to buy on the top in January 2014.
Actually this might not be a bad decision in the long run, if you don't sell them off in the meantime. Just try to be patient and hold them. In January we were @ 700-900$ if I remember correctly, if you buy some now you can have an average cost of around 620$ per coin which is very good compared to the upside potential You would still be showing a paper loss as of now. If you were to need the funds then you would be forced to realize that loss. It is not good to say "the price will go up in the future so I am doing well even though I am showing a loss now" In you invest for long term, wait long term, no need to be depressed because you lost 10-25% on a high risk investment; if it makes you depressed it means you invested too much Uhm...i don't think it's bounded to the sum, for example if i had 100 euros on a day/week or so and i would loose 10 it's only 10% but i would still be kind of depressed that i've lost them. Didn't talk about a particular sum, said that if you are depressed to lose it it means you invested too much; in your exemple you would have invested too much |
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England game was pretty dull. Wish I'd've watched the Uruguay game now. It's going to be a joke is Suarez doesn't get banned for the rest of the tournament. I'm hoping whatever team gets through gets knocked out by Brazil in the next round though. Really need Brazil Germany Holland and Argentina in the semis for my bet to come good .
Woop. Won £225 on this. Just need Brazil and Argentina to get into the final now. Even better if Argentina win it. I get my money back on some bets if Brazil win though. The only team I don't have money on in some form to win at the moment is Germany. I honestly couldn't pick the finalists or the winner right now. They all seem pretty evenly matched. My bets are on Brazil and Argentina; Brazil needs to get into the finals and Argentina to win the cup and will have get some BTC It wouldn't be a surprise for any of the 4 teams left to win it, it is very evenly matched indeed, to know who you think/want to win it comes down to who you like, emotion and what you are focusing on : team play, neymar not here, defense ect. |
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How is the withdraws going so far doog? Had a few ideas to get more attention on JD closing: You could : -Write a message explaining JD is closing on the first message of this thread -In the title/first message of https://bitcointalk.org/index.php?topic=242962.0, -On JD website -Bump the bitcointalk JD threads every other day -Re-send emails to all accounts that show a balance and have registered emails -Create a new thread explaining players/investors have to withdraw to get some additional attention After a while you can send the left over to a charity fighting for freedoms |
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... but how can one use this to trade now, not 2 years, 5 years, etc. down the road when these court cases eventually get settled?
The 144,000BTC will be auctioned if the FBI wins the civil trial and it may be bought up by someone who wouldn't have bought that many bitcoins on the market In addition it has been priced in already |
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Nope. I watched the press conference where they discussed all their plans. Twice he was asked how much he paid for the coins and he jokingly said both times "more the the other bidders". I get the distinct impression he's going to keep that a secret. Unless the information gets leaked somehow, I don't think we're ever going to find out. That was my impression as well. And I also got the impression that the USMS wasn't going to say anything either. Any word on FOIA requests? I wonder if that could get the price public. We bid $455 which at the time was 81% of market value. Not accepted of course. Rumor has it winning bid(s) was at spot or maybe even above spot.
from https://bitcointalk.org/index.php?topic=650538.new#new |
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Rumor said one person bid $900, is he the winner? I guess if he bid one lot at $900, all other @625, then the final price will be 625, am i right? We all expect some bullish move when the price released.
It seems very dangerous to bid @ 900; what you do is you bid @ the maximum you are interested or a bit higher Reading the weird messages from the dust transactions to the address is entertaining It is good the FBI coins are not sold on the market because it seems to find new buyers and to support the price, maybe it will even be the same if the 100,000+ bitcoins that the FBI still have are auctioned off |
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My worst decision was to buy on the top in January 2014.
Actually this might not be a bad decision in the long run, if you don't sell them off in the meantime. Just try to be patient and hold them. In January we were @ 700-900$ if I remember correctly, if you buy some now you can have an average cost of around 620$ per coin which is very good compared to the upside potential You would still be showing a paper loss as of now. If you were to need the funds then you would be forced to realize that loss. It is not good to say "the price will go up in the future so I am doing well even though I am showing a loss now" In you invest for long term, wait long term, no need to be depressed because you lost 10-25% on a high risk investment; if it makes you depressed it means you invested too much |
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China is not a total success story either. There are stories of success, but there is a huge amount of hidden malinvestment that has yet to fall out. There are plenty of insolvent companies and investment schemes being held up by the government.
1 Billion people going out of extreme poverty in a few decades, average hourly salary going up 5-15% every year, hundreds of millions of people living as well as in Europe or USA (same average salary after tax) and the number is growing by 5-12% a year when it wasn't a few millions that were living as well as in Europe or US a few decades ago Does that feel like an economical failure?? No, it is a huge success, the best success story of the last 30years in terms of magnitude |
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People that go to college are in average brighter, harder working, more ambitious and for more affluante families and they are meant to make more money (as a group) than people that don't go to college If you factor in the cost of going to college will you really make more money because of the diploma you will get? Support : https://www.youtube.com/watch?v=nbUFBk3477o (few minutes video debating the subject) High school drop outs: $18,734 High school graduates: $27,915 College grads (with a bachelor’s degree): $51,206 Advanced degree holders: $74,602 I know this can be debated depending on the college tuition of going to that particular college. But whats the average college debt for a student. $23,000? hopefully to pay it off within in a year? this is outside from other personal debts of course, with living costs. If you think $23,000 is small money you have no idea then. Plus I forgot the interest thats added. And thats if you get a job right. You have to count average college tuition per year * number of years + what you would have won if you didn't go to college and interests on all that = more than 100,000$ You have to count the revenues after tax so the difference is less between grads and non grads because grads pay more taxes Then you have to take factor in that high schools graduates, college grads and advances degree holders were smarter, more connected and more success driven even before going into studies so they would have perform better than average anyway!! |
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