what if btc takes over €/$ ?

[nebiki]

isn't this part of what people want?

how will our economy work then and how do we justify some people hoarding thousands of btc for doing nothing?

if all 21 mil coins equaled the current amount of $ in the developed countries, 1 bitcoin would equal $ 10 mil.

i don't understand. this no work.

[Elwar]

You could run the full economy of a small country with a couple hundred BTC.

People hoarding would have no affect on your ability to make a purchase using Bitcoin.

[Gestas]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

[Elwar]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

[nebiki]

People hoarding would have no affect on your ability to make a purchase using Bitcoin.

maybe, but would i want people to have hoarded thousands of these? they didn't work for them, just speculated and were there early. society just won't allow that.

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

yeah, now. the ideology, though, is that there's no more fiat currency and all is done in bitcoin.

[Gestas]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

[Elwar]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

[Gestas]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

[Vince Torres]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

[Elwar]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

USD just lost 20% of its value in the past week.

btw...welcome to the forums, enjoy learning about Bitcoins

[Elwar]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

[Vince Torres]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

USD just lost 20% of its value in the past week.

btw...welcome to the forums, enjoy learning about Bitcoins

Give me a source, I want charts.

[Vince Torres]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

Yeah one type of food. Get me more websites where I can buy groceries and sustain my family with a healthy lifestyle.

[Elwar]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

USD just lost 20% of its value in the past week.

btw...welcome to the forums, enjoy learning about Bitcoins

Give me a source, I want charts.

[Intueri]

This quickly turned into a pizza/inflation topic.

So common.

[Vince Torres]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

USD just lost 20% of its value in the past week.

btw...welcome to the forums, enjoy learning about Bitcoins

Give me a source, I want charts.

LOL, I posted the bitcoin chart I sure le trolled him!11!!

[Gestas]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

A currency is pretty worthless if you cant buy the basic necessities of life with it.

[foggyb]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

A currency is pretty worthless if you cant buy the basic necessities of life with it.

Correction: A currency is worthless when no one wants it. If people want bitcoin, we'll be able to exchange it for anything, soon enough.

People buy the basics with credit cards every day. There is absolutely no reason we couldn't do that with a credit-card sized electronic bitcoin wallet (already being worked on).

[Gestas]

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

A currency is pretty worthless if you cant buy the basic necessities of life with it.

Correction: A currency is worthless when no one wants it. If people want bitcoin, we'll be able to exchange it for anything, soon enough.

People buy the basics with credit cards every day. There is absolutely no reason we couldn't do that with a credit-card sized electronic bitcoin wallet (already being worked on).

why would your average consumer ever want to use bitcoins? Irreversible charges and 10 minute transaction times along with having to pay the transaction fee are hardly attractive.

[lassdas]

what if btc takes over €/$ ?

It won't happen, ever.

isn't this part of what people want?

No.

how do we justify some people hoarding thousands of btc for doing nothing?

People can do with their money whatever they want. It's not up to you or anyone else to tell them, what they're supposed to do and what not.

but would i want people to have hoarded thousands of these? they didn't work for them, just speculated and were there early. society just won't allow that.

How do you know what they did to get them? If they worked, speculated, got them as a gift, or found them on a hdd they got from ebay?
And why does it matter?
Society already allows speculators, doesn't it? There's lot's of people with big bank accounts that never worked in their life (did Paris Hilton ever work?) and society applauds and cheers at them as idols and throws even more money at them.