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Author Topic: Bitcoin is only a means to get money into alts. Bitcoin fails.  (Read 1844 times)
YinShuiSiYuan
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December 18, 2014, 12:47:16 AM
 #21

-proving the OP's individual statements/arguments wrong-
What you fail to mention is the fact that there is a very good reason why people need to buy bitcon in order to buy altcoins. There is simply not enough demand for altcoins for exchanges to support USD/shitcoin trading, as well as the fact that many more people are interested in trading bitcoin directly then trading any individual shitcoin

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December 19, 2014, 07:14:47 AM
 #22

Bitcoin as we know it today has no future because of exaggerated inflation.

Bitcoin's price has held up quite well in spite of the block reward being large (in percentage terms)
When the block reward halves in 2016, inflation is going to be even lower. So I see no case for exaggerated inflation (as you call it) causing the failure of Bitcoin.
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December 20, 2014, 10:12:43 AM
 #23

There are so many topics about bitcoin being dead and alts are the way to go, and these topics are mainly written by newbies. I interpret them as signals of a dying alt coin environment and alt coin developers are struggling with their pump and dump schemes, they have to sign up as newbies and spread FUD with unconvincing arguments.

lol. ALL THIS SHIT is dying. Better buy some ripple because that doesn't inflate with over 10% a year and eventually is the future of crypto because bitcoin can't hold the drink.
Ripple is essentially controlled by a central authority and has many of the same risks as using services like paypal only that you also have exchange rate risks as well.

The reason that you need to first buy bitcoin in order to buy altcoins is that the altcoins have no real value and no real use except speculation
JuanHungLo
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December 20, 2014, 03:19:45 PM
 #24

OP, is a Keynesian when it comes to economics. 
OP, the dollar is divisible by 100, cents.
Bitcoin is divisible by 100,000,000, satoshi.
There is no shortage of money supply.  There never will be.
And your idea of inflation is, well, pretty weird.

Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. - John Templeton
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December 20, 2014, 04:05:07 PM
 #25

What a dumbass. OP, you can't learn about monetary policy by reading one copy of Money Magazine that you stole from a Starbucks.

You obviously don't know what inflation is so please read this: Inflation is a continuing increase in the price of everything in an economy over a period of time. When the price of stuff increases, each dollar or whatever currency buys smaller amounts of the same stuff.

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December 20, 2014, 04:19:10 PM
 #26

Money supply expansion does not necessarily create inflation. Japan has been printing Yen hand over fast for decades. Despite that, their economy has been deflationary.

Bitcoin, similarly, has been mining new coins since 2009 but the overall trend has been massively deflationary. 1 BTC in 2014 has far more buying power than 1 BTC in 2010.

The US federal reserve has also been printing money hand over fist since 2008. Despite that, the purchasing power of the dollar has remained relatively static by some measures and has grown much stronger by others. Case in point - a dollar today buys more oil, gold, and silver than it did in July 2008.
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