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This thread was started before QE3. The orriginal speculation was $1.1T of QE next year. Right now it looks like $0.5T of QE. However, the fed left "other asset purchases" open ended. How much QE do you think will happen next year (in the US?)
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I was a big fan of reddit. Lately, I noticed the quality dropping off quite a bit. Then today I noticed that reddit is censoring. Serious censorship, not just photos of naked people.
Does anyone know of another website of this type? I'm most concerned about censoring of libertarian information. I most enjoyed reddit for news. I can go to other sites to see pictures of cats, or pictures with text on them.
If you don't know what reddit is, then the question is "Where do you get your news?"
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About 12 people showed. We had fun. It ended early. We have plans in the works to go to Newcastle NH. There you will find the pao cafe that accepts bitcoins. News forthcoming... http://www.thepaocafe.com/ |
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Well, now we have more information. $40B per month. That translates to $480B per year. Recall that the fed's announcement left open the possibility of "other asset purchases," and that $1.1T number does not sound out of range. At any rate, assuming that the fed does not cancel QE3 next year. We can expect US monetary inflation of 16.6% next year. Bitcoin monetary inflation 12.5%. Next year could be the first year that USD monetary inflation surpasses BTC monetary inflation.
If the USD lasts through the next four years it'll be interesting to see the exchange rate change when bitcoin monetary inflation is less than 5%.
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If the majority of people decided that slavery was OK again, would that make it OK to enslave the minority they picked? Why does a government founded on a logical fallacy seem like a good idea to you? You have constitution, safeguarding basic rights. You could possibly try and change the constitution, but for that you need an overwhelming majority, which just doesn't happen in a democracy. Even landslide victories are like 60%. Check the exceptions on the wikipedia page you linked to. Income redistribution falls withing the lines of social convention and safety, therefore the fallacy does not apply here. The constitution was in effect when slavery was happening. Myrkul you have failed to address the point that was made. You sure that was me? It looks more like miln40 failed to address the point. Slavery was not only not abolished by the constitution, it was written into it. So much for "basic rights." Check the other names for the fallacy. "Democracy" is included in the list. Yeah, I also think he meant me =D . Slavery was made illegal with the 13th amendment, I believe. So the constitution was modified after the majority of people decided to oppose slavery. Well, there was also this civil war, but it might have been pure coincidence. Any way the constitution is supposed to guarantee habeas corpus. A piece of paper is doing a poor job at solving problems. |
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We will be meeting at Strange Brew Tavern in Manchester NH at 6:30pm on Sunday September 23rd. This is not expected to be a large meetup, so if you only plan to attend one NH meetup this is not the one you want to attend. However we have consistently had 15 to 20 or so attend so maybe 10 to 15 this Sunday. Again the details. Shire Bitcoin meetup #12 Sunday, September 23rd at 6:30pm Strange Brew Tavern http://www.strangebrewtavern.net/88 Market St. Manchester NH If you would like my number for a contact please PM me. That way, if you have trouble finding us you can call me. Edit: Must be 21 to attend. I don't like this rule and you can PM me to complain, we'll try to move future events to more friendly places if you alert me that this is an issue. |
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$12.35, what happens next?  Someone dumped around 10kBTC within 5 minutes. The fact the price held at 12.35 is a very good sign. |
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There is an issue. The card would have to some how have access to a private key. This would be a security concern. If the card required a pin to use I would not be too concerned about the security concern. Especially if the coins were backed up and could be restored in the case of a lost card.
edit: grammar
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If the majority of people decided that slavery was OK again, would that make it OK to enslave the minority they picked? Why does a government founded on a logical fallacy seem like a good idea to you? You have constitution, safeguarding basic rights. You could possibly try and change the constitution, but for that you need an overwhelming majority, which just doesn't happen in a democracy. Even landslide victories are like 60%. Check the exceptions on the wikipedia page you linked to. Income redistribution falls withing the lines of social convention and safety, therefore the fallacy does not apply here. The constitution was in effect when slavery was happening. Myrkul you have failed to address the point that was made. |
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I speculate that your post is not speculation.
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I mean those teachers must really care about the education of their students. Look at all this time they are spending not teaching them.
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makes sense. I'm glad you are being responsible and not taking bets you can't payout (yet.)
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It looks like your min is more than your max.
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And $1.4 to $1.6 trillion of treasures issued over the next year. Who will buy them?
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Let's speculate here about "fair" aka reasonable price of PPCoin.
My guess -- 0.002 BTC per 1 PPC.
And what is your guess ?
My guess is that this should be posted under Alternate cryptocurrencies. Yes, and I would say 0 is a fair price. |
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I have already read that. There is discussion that QE3 will include the purchase of mortgage backed securities. I don't expect all the moneys to go into treasury bonds. The author of that article tacitly assumes that all of QE3 will go into treasury bonds.
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I speculate that the monetary inflation rate of the US dollar will outpace that of bitcoin, next year. I define the monetary inflation rate as the percentage of newly created money compared of existing money. I'm speculating that QE3 will be announced by the fed, and will be in the range of $1,100B. Given that the US monetary base is under $2,800B ( http://research.stlouisfed.org/fred2/series/BASE ). This would make the monetary inflation of the USD just under 40%. Meanwhile, we know that the monetary inflation of bitcoin will be close to 12.5%, so if QE3 is the magnitude I expect there will be a significant difference in monetary inflation rates. If this turns out to be the case, then BTC will in fact be a better store of wealth compared to the dollar. It would actually make sense to buy BTC just to hold. In the past buy and hold would be a strategy that you would use only if you thought that the BTC economy would grow. In the future, even if the BTC economy stays the same size a buy and hold strategy would make sense. 2013 should be an interesting year indeed. Of course BTC is relatively new, there could still be a major flaw in the ability to scale. 2013 still should be an interesting year for bitcoin. |
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There are two reasons actually. Demand and supply. You're welcome.  |
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I am a happy customer of compsoul.com and think the site is a valuable part of the community. http://compsoul.com/ is a great site for your computer needs, and they accept bitcoin! |
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