In Venezuela, Zimbabwe, Weimar Germany inflation is the effect, not a cause. In the west, we treat inflation as a cause and something to be carefully managed. In Venezuela, Zimbabwe their currency is worthless even if there's zero inflation.

I have received so many private messages. Please keep it in this forum so I can get back to you.

We are still needing beta testers. Write a message on this thread and I will contact you.

I see a lot of anti-inflation sentiment around. I am frankly in disagreement with it all. The 'hodl' mentality is deflationary spiral nonsense which does nothing to help the economy of Bitcoin.

I believe there should be inflation to get the economy of Bitcoin going so the market cap rises on actual economic activity than pointless speculation. This should be fixed at about 1.5% annually. This will encourage investment and commerce, which is the point of a currency.

There are a lot of ways you can do inflation. You could give the new coins to miners, or you could do a "stock split" where the amount of Bitcoin an individual has increases 1.5% annually.

Bitcoin is always being lost. As of 2017, there were 3.8 million BTC lost out of a total supply of 16.4 million BTC. That makes the effective amount of BTC only 12.6 million (at that time).  12.6Mm/21MM is a little over half of the total amount of Bitcoin.

If you had 1.5% inflation, it would take decades to get back to merely 21 million.



If you go with the option of 'stock splits' to induce inflation, no savers would lose out. They would be rewarded from holding.

I don't see why inflation is a bad thing. It makes sense.

Resources:

https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-lost-mining-how-to-find-cryptocurrency-value-chainalysis-satoshi-nakamoto-a8091851.html

Obvious scam is obvious. You'd have to be an idiot to donate to this.

There are 75 categories added (so far) that a user can choose from. This gives the consumers work, and the workers opportunity. This makes me very excited for the launch of Taskly!

Awesome. I'll send you a message when I can. I'm currently capped at two a day.

This is why you have regulatory agencies like the SEC.

The Fed don't directly create money. They create credit, but they're not stupid about it. They know what they're doing. We have little inflation. The increase in the stock market (since 2016) isn't because of monetary policy, but stock buybacks, economic growth, etc.

Beta testing will be coming out soon. Post your interest in this thread and I will private message you.

Cryptocurrency isn't a 'new asset class'. Currency is as old as civilisation itself. It's a digitalisation of a ledger system.

Bitcoin, as a currency, needs economic activity to be actually worth a damn. Why would anyone sane use cryptocurrency in its current state where amateur investors are hoping on exponential growth based on... nothing?

Outside of currency, what utility does Bitcoin have?

Who would like to get a sneak-peek preview to Taskly?

Why is inflation a bad thing? Deflation is a much worse phenomena for the economy. Can you name me an economy with a deflationary currency that is successful?

Your argument for Bitcoin and anti-confiscation measures is that a brutal communist dictator would be able to cash out funds illicitly obtained. How many people are brutal communist dictators that would specifically benefit from anti-confiscation measures? Who's to say you're safe using Bitcoin? If you cash out, what's preventing the government from arresting you and seizing those funds? Taking these additional steps doesn't throw anyone off.

Bitcoin could be could trillions, but with the right selling point. This anti-confiscation, anti-inflation thing isn't the answer.

I believe that the price of Bitcoin is drastically overvalued. It's driven by speculation than actual economic activity occurring within the Bitcoin ecosystem. This was especially true at the height of the Bitcoin price, when it hit $20,000 or a market cap of $330 billion.

Speculators are speculating against other speculators

When you think of speculators, you may imagine big bankers being the problem. I would be generally inclined to agree with that. In reality, they make up a small portion of the market. The real issue are these so-called investors from home who do technical analysis and try base the value of Bitcoin on previous pattern movements.

On one end of the spectrum you have those trying to short and others who are longing. These aren't just a few loonies, there is a sizeable chunk of these speculators who are shorting and those who are longing. I would say the distribution is 40/60 long.

Who in the world thinks that at the height there was $320 billion in economic activity? There most definitely wasn't $20,000 of services and goods being exchanged per coin.

What goods and services are actually being offered?

Let's be realistic, there isn't $60 billion of economic activity being generated with Bitcoin. If that were true, then it would be much harder to explain the fluctuations in price. You don't just go from $330 billion to $200 billion in a matter of months with no justification.

It used to be that the price of Bitcoin was based on goods and services... back when Silk Road was a thing. The closure of Silk Road sent the price of Bitcoin into free fall.

Lambo's don't help

The idea of cashing out Bitcoin for a Lambo sounds sexy. It is a great marketing draw for the inexperienced to buy some Bitcoin. Who doesn't want a fast car?

It's this idea which is only popular with the greedies and not those concerned what Bitcoin and Blockchain can do. You're buying Bitcoin in USD, promoting theories that the USD is over, only to cash out into USD and buy your Lamborghini. Good for you if you do that, but don't be a hypocrite about the USD just to use it.

Putting money into Bitcoin, only to hold it, does nothing to grow the actual value. The only way an economy grows is by having money circulating around. Putting sums of money into Bitcoin just to have it sitting there creates deflation which can quickly spiral into a deflationary spiral.

Instead of talking about technical analysis and scribbling onto charts, we ought to look at the fundamentals of the price of Bitcoin. We need to be objective and not subjective about Bitcoin. I'm an ardent fan of Bitcoin, but I find the community's view of finances to be amateur, especially on Reddit.

Resources:

https://smallbusiness.chron.com/importance-consumer-spending-3882.html

https://www.economicshelp.org/blog/1888/economics/deflationary-spiral/

https://www.theguardian.com/technology/2018/feb/02/bitcoin-biggest-bubble-in-history-says-economist-who-predicted-2008-crash

I see we share the same about of enthusiasm for the project. I want it out as much as the next person. But I want everything to be in working condition too!

There will be a new page coming out in a few days with more information!

Thanks for your support. I'm working on adding more information over the coming days. I hope you like the direction we've chosen. This is what a lot of people need at this point in time. There will be lots of potential to make money for freelancers like yourself once Taskly is out.

They don't need a classic liberal system at this moment. Political ideology is the least of their concerns. Their concern is on getting food on the table, restoring law and order, getting the economy going. There's a time and place for liberalism, it isn't when there's anarchy.

Every socialist system has this level of incompetency. It's not the leaders at fault. It's the system, time and time again.

There is so much censorship on this forum. Scam projects are allowed, but when there's something for free, it's suddenly not allowed. Someone not receiving a cut?

There's a lot of posts in this section "ICOs will come back", "Some ICOs are scams", "Should I do ICOs". These all contain the implication that Initial Coin Offerings are fine and dandy.

What type of information do you need to know that Initial Coin Offerings are trash the majority of the time? 80% of ICOs in 2017 were scams. To put that into respective, that's 4 out of every 5. The odds are terrible. Going by the rules of probability, you're going to be apart of the four of five. Why wouldn't you be?

The ideas I've seen with Initial Coin Offerings are just as bad. Why do these companies need $80 million in the first place? Let's be realistic, most things don't need to be on the blockchain. Satoshi didn't need to do an Initial Coin Offering to make Bitcoin into a bustling success. He started off putting in his own money. What do ICOs actually have to bring to the table?

The people that are making these threads with a positive implication are probably apart of the scams, or they're risking their money with the odds stacked entirely against them.

It's possible to have original ideas offered for free. Bitcoin, Ethereum, Litecoin. Some people are simply blinded by their greed and short-term to try speculate on the worthless. No wonder bubbles are so rampant within this ecosystem.

Resources:

https://cointelegraph.com/news/new-study-says-80-percent-of-icos-conducted-in-2017-were-scams