Bitcoin Forum
May 11, 2024, 10:58:53 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Bitcoin Forum > Economy > Economics > Profits with debasement
Pages: [1]
« previous topic next topic »
  Print  
Author Topic: Profits with debasement  (Read 765 times)
remotemass (OP)
Legendary
*
Offline Offline

Activity: 1117
Merit: 1016


ASMR El Salvador


View Profile WWW
March 27, 2013, 02:55:23 AM
 #1
At the end of 2010, there was about $1.2 trillion US Dollars (USD) worth of euros in circulation, the highest circulating value of any world currency.
As the inflation in the Euro Area has been about 2-3%, that means the European Central Bank is profiting about $36 billion a year with coinage debasement.
To be honest it doesn't seem much, comparing to what States collect from taxes.
{ Imagine a sequence of bits generated from the first decimal place of the square roots of whole integers that are irrational numbers. If the decimal falls between 0 and 5, it's considered bit 0, and if it falls between 5 and 10, it's considered bit 1. This sequence from a simple integer count of contiguous irrationals and their logical decimal expansion of the first decimal place is called the 'main irrational stream.' Our goal is to design a physical and optical computing system system that can detect when this stream starts matching a specific pattern of a given size of bits. bitcointalk.org/index.php?topic=166760.0 } Satoshi did use a friend class in C++ and put a comment on the code saying: "This is why people hate C++".
You can see the statistics of your reports to moderators on the "Report to moderator" pages.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715468333
Hero Member
*
Offline Offline

Posts: 1715468333

View Profile Personal Message (Offline)

Ignore
1715468333
1715468333
Reply with quote  #2
1715468333
Report to moderator
1715468333
Hero Member
*
Offline Offline

Posts: 1715468333

View Profile Personal Message (Offline)

Ignore
1715468333
1715468333
Reply with quote  #2
1715468333
Report to moderator
1715468333
Hero Member
*
Offline Offline

Posts: 1715468333

View Profile Personal Message (Offline)

Ignore
1715468333
1715468333
Reply with quote  #2
1715468333
Report to moderator
Nagato
Full Member
***
Offline Offline

Activity: 150
Merit: 100



View Profile WWW
March 27, 2013, 03:46:37 AM
 #2
You are assuming CPI = money supply increase
FYB-SG Singapore Bitcoin Exchange
remotemass (OP)
Legendary
*
Offline Offline

Activity: 1117
Merit: 1016


ASMR El Salvador


View Profile WWW
March 27, 2013, 04:55:20 AM
 #3
Quote from: Nagato on March 27, 2013, 03:46:37 AM
You are assuming CPI = money supply increase

They are very related, so I am sure my estimation is good.
But more accurate would be to know exactly how much extra of the currency is put in circulation, if that is what we want to know.
But I'm positive we would get pretty much the same figure.

It is not as much as I supposed it was.
It is nothing compared to the GDP and taxes collection of the corresponding countries.
{ Imagine a sequence of bits generated from the first decimal place of the square roots of whole integers that are irrational numbers. If the decimal falls between 0 and 5, it's considered bit 0, and if it falls between 5 and 10, it's considered bit 1. This sequence from a simple integer count of contiguous irrationals and their logical decimal expansion of the first decimal place is called the 'main irrational stream.' Our goal is to design a physical and optical computing system system that can detect when this stream starts matching a specific pattern of a given size of bits. bitcointalk.org/index.php?topic=166760.0 } Satoshi did use a friend class in C++ and put a comment on the code saying: "This is why people hate C++".
Nagato
Full Member
***
Offline Offline

Activity: 150
Merit: 100



View Profile WWW
March 27, 2013, 05:11:55 AM
 #4
What i meant was that CPI is not accurate because it is grossly understated. If you move that up to 10%, does that number seem significant now? Also, whatever the figure is, 10x more is made by the private banking system which multiplies that new money by many times via FRB.
FYB-SG Singapore Bitcoin Exchange
Pages: [1]
  Print  
Bitcoin Forum > Economy > Economics > Profits with debasement
 « previous topic next topic »
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!