627
|
Economy / Economics / Re: I just created 100 pennies.. and loaned them out, you owe me 101 pennies…..
|
on: February 22, 2015, 02:32:23 PM
|
...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. nope , btc is created out of electricity and math my friend. As I said, wasted electricity and digital thumb-twiddling. Why not make my turds the new world currency? I've been constantly pooping issuing them since birth (like Bitcoin), and many are currently irretrievably lost, for extra scarcity. Like Bitcoin. Unless you think me immortal, the total number of turds to be issued is limited, because math and science. Further, unlike Bitcoin, my poop is tangible & has value beyond its monetary worth. My turds also have only a nominal learning curve--easily understood by goldbugs and Bitcoiners. Bonus! Best of all, turds do not rely on the internet (which we all know is controlled by NSA/CSS & other Jews) or malware-infested smartphones (which will be all destroyed by the inevitable EMP). Get in on the ground floor before the sheeple catch on, don't miss the moontrain, Bitcoiner!
|
|
|
636
|
Economy / Speculation / Re: New auction for 50000 btc from US marshalls!
|
on: February 22, 2015, 12:01:16 PM
|
I really still think it was somewhat sketchy to sell the BTC. They wouldn't sell the 100$ bills they get from some drug raid for discounted rates, wouldn't they?
No, they wouldn't have to. They'd put those bills directly in the bank because that's real money.But yeah, seized money goes in the bank, they don't incinerate it, if that's what you mean. Yea and why didn't they do something like this with the seized BTC? I bet there are all kinds of stuff they could have bought with them. Or donate them or something. Because USMS is not as dumb as most Bitcoiners? Because you don't get to tell USMS what to do? Because USMS always auctions off seized criminal proceeds? If those aren't reasons enough, here's another: If USMS chose to hold BTC (what you feel is the equivalent of putting USD in the bank), the agents would discover, much to their chagrin, that their "saved" BTC has lost most of its buying power, i.e. the same coin that was worth $1,2000 in December is now worth $245 Like so: So the question really shouldn't be "why did USMS choose to sell," but "WTF didn't you?"
|
|
|
637
|
Economy / Speculation / Re: New auction for 50000 btc from US marshalls!
|
on: February 21, 2015, 07:28:45 PM
|
I really still think it was somewhat sketchy to sell the BTC. They wouldn't sell the 100$ bills they get from some drug raid for discounted rates, wouldn't they?
No, they wouldn't have to. They'd put those bills directly in the bank because that's real money. But yeah, seized money goes in the bank, they don't incinerate it, if that's what you mean.
|
|
|
638
|
Economy / Economics / Re: I just created 100 pennies.. and loaned them out, you owe me 101 pennies…..
|
on: February 21, 2015, 07:04:49 PM
|
I just created 100 pennies and I loaned them out to you + interest… How is it possible for you to pay me the 101 pennies you now legally owe me if only 100 pennies are in circulation?
Nice argument against non-inflationary currencies, which Bitcoin is hoping to become. Let's try your problem, starting with this "sound money": You have all of the gold in the world, and lend it to me @ .1% yearly interest. "How is it possible for you me to pay me you etc., etc.?" You have constructed scenarios in which it is impossible to pay the interest. My point is that those scenarios don't represent anything real. They do not exist in the real world. Your scenarios are moot. I have offered a single, hypothetical scenario. Just like OP. You don't think OP has really issued 100 pennies, lent them to me at interest, and I was brokeass enough to take him up on it? Or do you?
|
|
|
640
|
Economy / Speculation / Re: Bitcoin is hopeless, sell your coins now
|
on: February 21, 2015, 06:38:38 PM
|
Well the good news is there's not that many exchanges left to be hacked.
This is more important than you realize. With sound money, bear markets cleanse the system of greed, scams, ponzi schemes, incompetent exchange operators, ect... instead of bailing them out. This allows for organic growth for the next cycle vs a cancerous vermin like we are seeing with the legacy financial system. The next rally should be epic. Nonsense. Bitcoin lends itself perfectly to scumbaggery. It's where washed-up conmen come to run scams that've been burnt down ages ago IRL. I mean, imagine an IRL human being sending real money--through intertubes--to an Anon claiming to be starting a bank? In Cyprus? Yeah, like that. But wait, that's not all! As a bonus, most Bitcoin enthusiasts are batshit crazy paranoiacs weary of governments and law enforcement intervention, and are dabbling in petty crimez themselves value their privacy. On top of that, they have the sophistication and street-smarts of a fruit fly tend to overestimate their own business acumen. TL;DR: perfect marks.
|
|
|
|