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Author Topic: Why not just print dollars?  (Read 29250 times)
cafucafucafu
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August 01, 2015, 11:16:28 PM
 #1

https://www.youtube.com/watch?v=wpW_KMHlAmo

Why borrow dollars and then pay back by printing them?

Why take the long way around?


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Meuh6879
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August 01, 2015, 11:50:12 PM
 #2

 Grin the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org


and, it's real value !  Cheesy



Bitcoin is a perfect thing.





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August 02, 2015, 05:36:00 AM
 #3

Grin the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value !  Cheesy


You're right that bitcoin can't be printed when more is needed.

You're wrong that bitcoin has real value. The value is perceived because all of us place value upon it...just as we do fiat currency.

There is no tangible thing that supports the value of bitcoin, that can prove there is value to it.

There's no Gold, no Silver, no other tangible item that exists in the world...just the promise that only so much bitcoin can every be mined and that the validity of transactions and balances are verified by the community that uses it.

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August 02, 2015, 05:50:49 AM
 #4

...

There's an argument, that I have seen explored a little at Zero Hedge, that printing money would be better than taxation.

This is an exotic argument that I have not had a chance nor even the ability (yet) to properly wrap my brain around with it.

A first thought:

Eliminating taxation, of course, would likely anger the poor (they pay low taxes, except various consumption taxes).  Envy and resentment would likely prevent this idea of eliminating taxation altogether.

*   *   *

I am already convinced that gold ought not be linked to currency (that is, no "Gold Standard").  A Gold Standard would function poorly IMO.  Gold's best and highest value use is as a Store of Value.

Gold <> Money in that sense.  Most define money as roughly filling three roles: Unit of Account, Medium of Exchange, and Store of Value.  But, we are perhaps soon at the point of monetary failure, the US$ will not (cannot) fulfill those three roles of "money".
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August 02, 2015, 06:19:09 AM
 #5

I will just state my observations in short: Printing too much paper drives a country into inflation. Inflation can ruin the country and destroy its economy. Bitcoin has no real value, but it can be perceived that bitcoin will always be equal to another bitcoin and not to 1200$/1million$, nobody can really determine its perfect value at a perfect time, because there is a difference between price and value.
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August 02, 2015, 06:36:05 AM
 #6

Because we know better than to do what Germany did post WW1

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August 02, 2015, 07:35:24 AM
 #7

You can't print paper money without the specific material to do it... Cryptocurrency is a whole new revolution!

Hi there, I'm from South Africa.
This means I'm poor, I guess.
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August 02, 2015, 09:29:57 AM
 #8

Grin the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value !  Cheesy


You're right that bitcoin can't be printed when more is needed.

You're wrong that bitcoin has real value. The value is perceived because all of us place value upon it...just as we do fiat currency.

There is no tangible thing that supports the value of bitcoin, that can prove there is value to it.

There's no Gold, no Silver, no other tangible item that exists in the world...just the promise that only so much bitcoin can every be mined and that the validity of transactions and balances are verified by the community that uses it.

bitcoin is opensource. which means anything can be changed. i don't think they will, but at some point the devs can decide to increase the coincap.
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August 02, 2015, 10:02:33 AM
 #9

Grin the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value !  Cheesy


You're right that bitcoin can't be printed when more is needed.

You're wrong that bitcoin has real value. The value is perceived because all of us place value upon it...just as we do fiat currency.

There is no tangible thing that supports the value of bitcoin, that can prove there is value to it.

There's no Gold, no Silver, no other tangible item that exists in the world...just the promise that only so much bitcoin can every be mined and that the validity of transactions and balances are verified by the community that uses it.

bitcoin is opensource. which means anything can be changed. i don't think they will, but at some point the devs can decide to increase the coincap.

Which would stilll need to be accepted by the miners.. Why would miners agree with something like that? The beaty of open source is that it cannot be changed without consesus as opposed to closed source.

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August 02, 2015, 11:31:36 AM
 #10

In order to print or make your own money you need to build an audience that will trust and accept it. Any tender legal or otherwise only has value because a certain group of people put value in it.

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August 02, 2015, 11:49:08 AM
 #11

i think it's done because otherwise they cannot keep with the inflation rate that their priting is generating, if they print and nothing else we would have all the fiat collapse today
instead by borrowing they give enough time to generate interest on those money and save printing only for the worst case, maybe i'm wrong but this is how i can see it



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August 02, 2015, 12:56:43 PM
 #12

Grin the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value !  Cheesy


You're right that bitcoin can't be printed when more is needed.

You're wrong that bitcoin has real value. The value is perceived because all of us place value upon it...just as we do fiat currency.

There is no tangible thing that supports the value of bitcoin, that can prove there is value to it.

There's no Gold, no Silver, no other tangible item that exists in the world...just the promise that only so much bitcoin can every be mined and that the validity of transactions and balances are verified by the community that uses it.

Nothing has intrinsic value. Gold has no intrinsic value, same for silver. No one cares about gold and silver beyond what can you buy with it. That's all that matters, if people accept it in exchange and good and services it's money. So Bitcoin is the best form of money we've ever seen.

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August 02, 2015, 03:20:59 PM
 #13

Why not just print dollars?

That's exactly what they do and exactly whats wrong with fiat because it makes every-bodies money worth less when they do. Printing more money doesn't work and is only in the interests of those that have been given a license to print money.

Grin the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value !  Cheesy


You're right that bitcoin can't be printed when more is needed. .

More decimal places could be added though but that wouldn't devalue everybody elses coins in the process.
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August 02, 2015, 07:15:29 PM
 #14

Im my country (Venezuela) the government coerce the central bank to print money for them.
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August 02, 2015, 07:46:46 PM
 #15

...

mookid

I see "SOS Venezuela" written on cars sometimes here (USA).

Chavez & Maduro have shown how to destroy a country with HUGE oil reserves.

*  *  *

Your comments on how BITCOIN is catching on down in Venezuela would be of interest!  Argentina is in that game.
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August 03, 2015, 07:03:44 AM
 #16

Bitcoin is slowly making an impact on some people in my country, we have a local Facebook group with about 4,000 people in it. Our local Bitcoin market (surbitcoin.com) is one of the most important bitcoin markets in south america (by BTC volume). Lot's of people are investing or buying bitcoins with their savings so they don't get devaluated by inflation, (Inflation is about 150% from January to July) think about this for a second, our inflation rate went up by 150% in seven months...
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August 03, 2015, 07:09:55 AM
 #17

Grin the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value !  Cheesy


You're right that bitcoin can't be printed when more is needed.

You're wrong that bitcoin has real value. The value is perceived because all of us place value upon it...just as we do fiat currency.

There is no tangible thing that supports the value of bitcoin, that can prove there is value to it.

There's no Gold, no Silver, no other tangible item that exists in the world...just the promise that only so much bitcoin can every be mined and that the validity of transactions and balances are verified by the community that uses it.

I have to disagree a little bit.  I do agree on principal, however millions of dollars have been spent on mining gear and facilities.  This is not an investment that anyone will walk away from so I feel that it gives a support to bitcoins.  I think this gives good protection against a price collapse.  While it is not a direct protection it is indirect support.
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August 03, 2015, 07:22:48 AM
 #18

Because if you print USDollars in your basement, Jew King of Federal Reserve Bank will look for you...

he will find you...

and he will murder you.

Simple as that.
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August 03, 2015, 08:38:14 AM
 #19

A government can't print its own currency, a central bank prints currency.. The central bank only gives you that currency when you give something to back them, countries like US have printed the money through central bank and now the debt itself is so much, I don't know how things are planned to go down for US, but speaking hypothetically, in future what if US refuses to return the money and goes on war instead? People assume they stand capable, they have strong allies and enough resources.
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August 03, 2015, 09:22:37 AM
 #20

...

mookid

I see "SOS Venezuela" written on cars sometimes here (USA).

Chavez & Maduro have shown how to destroy a country with HUGE oil reserves.

Those huge oil reserves can potentially help you if you can sell oil with a high enough premium. Do you think Saudies will be happy if oil falls to 30$ per barrel (even if the cost of oil production in SA is around 10$)?

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