actmyname
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Spear the bees
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February 29, 2016, 01:06:48 AM |
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I don't think they can just print money. There has to be something behind them. Something to back them up. Like gold or something.
Ignorant answer. In reality, these fiat currencies are backed by... nothing. There aren't enough goods to sate the value of the paper money if everyone decides to "cash out" their finances for gold. There isn't enough gold. They just continue printing and printing. |
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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Newmba
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February 29, 2016, 10:59:05 AM |
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and now with NIRP people will start withdrawing their cash from the banks. The implications of all of this is well known to banksters, they know what they're doing, they just want chaos
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romero121
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February 29, 2016, 01:29:20 PM |
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Printing of dollars can be done by the government. If a government prints its without keeping as backup soon the value of the dollars get reduced. So to avoid such situation none of the government get into such activities.
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aardvark15
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February 29, 2016, 06:20:26 PM |
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Printing more dollars would seem to benefit bitcoin. If the value of the dollar goes down, then bitcoin relative to the dollar must go up, obviously.
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mrhelpful
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February 29, 2016, 06:47:12 PM |
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Printing more dollars would seem to benefit bitcoin. If the value of the dollar goes down, then bitcoin relative to the dollar must go up, obviously.
Which goes back to the inflation rate per year factor like most fiat money. The question is whats the % on the current consumers rate vs bitcoin. Current consumer inflation rate is 1.6% per year fiat vs Bitcoin 8%. If bitcoin lower to 1.6% thats some serious stuff. |
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Imran.shamsi
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March 01, 2016, 08:29:04 AM |
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without Backup of Gold reserve government print Dollar then Currency value goes down and inflation increase.
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Rostadom
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March 14, 2016, 03:18:32 PM |
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without Backup of Gold reserve government print Dollar then Currency value goes down and inflation increase.
Even with the back up of gold reserves, the currency will still devalue as too many notes are printed. You cannot exchange them for gold. |
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SebastianJu
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Legendary Escrow Service - Tip Jar in Profile
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March 14, 2016, 05:13:32 PM |
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without Backup of Gold reserve government print Dollar then Currency value goes down and inflation increase.
Even with the back up of gold reserves, the currency will still devalue as too many notes are printed. You cannot exchange them for gold. Huh? Gold reserve means that they only could print as much money as the gold they had in reserves was worth. It was backed by the gold. Only when the dropped that connection they could start to print like they wished. |
Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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Denker
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March 14, 2016, 05:35:53 PM |
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without Backup of Gold reserve government print Dollar then Currency value goes down and inflation increase.
Even with the back up of gold reserves, the currency will still devalue as too many notes are printed. You cannot exchange them for gold. Huh? Gold reserve means that they only could print as much money as the gold they had in reserves was worth. It was backed by the gold. Only when the dropped that connection they could start to print like they wished. As far as I am aware of Nixon declared the end of Bretton Woods System in 1971 because the US already printed and exported too much of it dollars around the world. Charles de Gaulle in 1965 was one the first who critized that and exchanged France's dollar reserves for gold.More and more countries asked for exchanging USD for gold over the next years.The rest is history. So Rostadom is having a point here. The problem is you can not look in the vaults how much gold banks have and how much paper money is in circulation. That's the beauty of Bitcoin and it's public blockchain.  |
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richmcrich
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March 14, 2016, 07:35:28 PM |
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Lol yes it would be more direct to use them, This overall is illegal though.
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bitsmichel
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March 14, 2016, 08:07:21 PM |
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I don't think they can just print money. There has to be something behind them. Something to back them up. Like gold or something.
Ignorant answer. In reality, these fiat currencies are backed by... nothing. There aren't enough goods to sate the value of the paper money if everyone decides to "cash out" their finances for gold. There isn't enough gold. They just continue printing and printing. Nothing backs it indeed. Fiat is not backed by gold anymore. They can create money by pressing on a button . Imagine a coin with zero mining difficulty that has consesus with billions of people, mining is restricted by violence to make only a select group of people able to create new coins. As crazy as that sounds its fiat. |
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mrhelpful
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March 14, 2016, 10:24:14 PM |
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I don't think they can just print money. There has to be something behind them. Something to back them up. Like gold or something.
Ignorant answer. In reality, these fiat currencies are backed by... nothing. There aren't enough goods to sate the value of the paper money if everyone decides to "cash out" their finances for gold. There isn't enough gold. They just continue printing and printing. Its just lack of being misinformed lol. Most people think they see it as backed by gold or something as mentioned. When the reality is what you mentioned with how fiat operates. People just need to see the bigger diagram and google how the treasury, irs, and how issuing money works lol. |
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Blackmet
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March 20, 2016, 03:54:04 PM |
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It was my favorite question when i was child. But now i realize that the amount of money should not exceed the gold reserves. Bitcoin in this case much better.
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romero121
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March 20, 2016, 04:42:06 PM |
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Most currencies were printed with the backing of gold. When it is printed without any backing it makes the currency value down.
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dunfida
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March 27, 2016, 07:57:45 AM |
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Most currencies were printed with the backing of gold. When it is printed without any backing it makes the currency value down.
Very few currencies are printed with the backing of gold. You cannot exchange the currency into gold directly. |
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KoinKartel
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March 27, 2016, 07:35:39 PM |
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This would be the "easy" way for the US to repay it's creditors - but it would be an absolute breach against the rest of it's society. This is why the government has launched excessive rounds of Quantitative Easing, to "ease" more money out of their printing press in a gradual manner so as not to cause blatant disruption to the world's financial system. But whether or not this disruption ends up being blatant or not - it's STILL going to occur. Simple economics dictates that each time MORE money is printed into existence, the pre-existing supply loses value unless there is EXTREME demand for that particular currency... If there is no demand, then increased supply often leads to inflation. So, literally, by "just printing more money" into existence to pay off their creditors, the government is literally stealing from the US public by destroying the value of their money. Hence Quantitative "easing...." the Dollar is losing HUGE amounts of value, but at a rate so slow that the masses aren't likely to notice. This is known as 'creeping normality' which refers to the way a major change can be accepted as the normal situation if it happens slowly, in unnoticed increments, when it would be regarded as objectionable if it took place in a single step or short period. The government knows exactly what they are doing when it comes to their management of national debt. It is actually a very simple process... it's just that administering the remedy that will rid the US of it's debt requires for the government to absolutely fleece it's citizens, and destroy the vast wealth that the united states has built over the last couple of hundred years. So they are doing everything in their power to delay this. But eventually - it WILL happen. Regardless of how fast, or slow. And this is the bitter pill that most of the US public are soon going to be forced to swallow |
Koinkartel.com (http://koinkartel.com)
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malzahar
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April 02, 2016, 10:29:50 PM |
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Most currencies were printed with the backing of gold. When it is printed without any backing it makes the currency value down.
Which goes back to the problem of fiat lol. The form of fiat is endless printing with no limitations.. but its problem itself is fiat. |
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deisik
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English ⬄ Russian Translation Services
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April 03, 2016, 10:54:37 AM |
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Simple economics dictates that each time MORE money is printed into existence, the pre-existing supply loses value unless there is EXTREME demand for that particular currency... If there is no demand, then increased supply often leads to inflation The days of simple economics are long gone. Now it is financial economics where things are not what they had been before, and more money out of the printing press may not end up with what simple economics tells you. If the newly printed money doesn't enter the real sector (which simple economics implicitly assumes as all other sectors are minuscule and subservient under its premises), the outcome may be quite contrary to what you might expect... Enter the financial capitalism |
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MaritiJames3
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April 26, 2016, 01:51:08 PM |
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You cannot print real Dollars people have already tried that and it did not end in success. There is a reason why you cannot make your own money because there will not be any balance if everyone just would just print money. |
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Mr.grin
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April 26, 2016, 03:10:41 PM |
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Most currencies were printed with the backing of gold. When it is printed without any backing it makes the currency value down.
Which goes back to the problem of fiat lol. The form of fiat is endless printing with no limitations.. but its problem itself is fiat. absolutely right, it will create a flat and make the value of the dollar to fall. I think the dollar also had more capacity is determined each year to maintain the balance of the price |
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