centralbanksequalsbombs (OP)
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July 16, 2017, 11:40:29 PM |
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Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubbleGlobal fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks. Excerpt from article: ... "...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks. Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up. The Fractional Reserve Ponzi Scheme The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes. ..." [continues on]
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HabBear
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July 17, 2017, 01:54:50 AM |
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Of course!
We don't even have to agree with your point of view here to agree with you. People invest in currencies for the exact purpose of providing a hedge against currency risk, political risk, country risk, and to serve as diversification among a broader portfolio.
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iamTom123
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July 17, 2017, 02:06:35 AM |
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As a hedge, Bitcoin can be preforming the task well. Now, we all know that Bitcoin right now is experiencing some convulsion as it is scheduled to perform some maintenance solution soon. When things get settled after August 1, we can expect it to soar back and takes it rightful place in the international financial arena.
However, we should remember that Bitcoin is still a very young type of asset (or currency as many would insist) and it is in fact still evolving. It remains to be seen how this cryptocurrency can behave during the time of global financial crisis. I am not an expert but many are predicting that on times of difficulties Bitcoin can be the digital gold...a safe haven.
Towards the end of this decade, we can be experiencing some sort of economic calm with only isolated economic wringing from time to time. What can happen in the next decade may something that can test Bitcoin.
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Preclus
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July 17, 2017, 02:33:18 AM |
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Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble
Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.
Such an incredibly stupid statement I wouldn't even know where to start. How about this: - paychecks have not been "devalued" over time - cash savings has not been "devalued" over time - fixed incomes have not been "devalued" over time I guess that's a start.
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centralbanksequalsbombs (OP)
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July 17, 2017, 03:04:01 AM |
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Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble
Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.
Such an incredibly stupid statement I wouldn't even know where to start. How about this: - paychecks have not been "devalued" over time - cash savings has not been "devalued" over time - fixed incomes have not been "devalued" over time I guess that's a start. LOL nice joke. Its obvious as time goes on all of those have devalued. Just so others understand your joke: - paychecks have not been "devalued" over time the fiat from paycheck 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED the fiat from paycheck 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED - cash savings has not been "devalued" over time the fiat from cash savings 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED the fiat from cash savings 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED - fixed incomes have not been "devalued" over time the fiat from fixed income (ie social security check or fixed pension payment) 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED the fiat from fixed income (ie social security check or fixed pension payment) 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED Thank you though.
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cafucafucafu
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July 17, 2017, 03:12:05 AM |
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Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubbleGlobal fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks. Excerpt from article: ... "...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks. Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up. The Fractional Reserve Ponzi Scheme The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes. ..." [continues on] 100 percent with you there, one of the many reasons people invest in bitcoin is because it is decentralised and it gives you freedom the buy pretty much anything. If your currency dies the next day, bitcoin won't. One of the reasons why people invest in bitcoin and gold. Although your statement with cash savings, fixed incomes, and paycheques seems the be widely correct and they definitely don't become devalued over time, unless the country;s currency goes through some inflation, which may make their currency less valued
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centralbanksequalsbombs (OP)
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July 17, 2017, 03:16:56 AM |
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100 percent with you there, one of the many reasons people invest in bitcoin is because it is decentralised and it gives you freedom the buy pretty much anything. If your currency dies the next day, bitcoin won't. One of the reasons why people invest in bitcoin and gold. Thanks, appreciate your post. But then you sorta get confusing later... Although your statement with cash savings, fixed incomes, and paycheques seems the be widely correct and they definitely don't become devalued over time, unless the country;s currency goes through some inflation, which may make their currency less valued
Care to provide any decade IN THE LAST 70 YEARS with data where fiat wasn't devalued? Its pretty clear that fiat devalues over time, for example: the fiat from cash savings 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED the fiat from cash savings 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED
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Preclus
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July 17, 2017, 03:46:46 AM |
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the fiat from paycheck 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED
Nobody today is getting a paycheck from 20 years ago. They are getting a paycheck today. Paychecks have not been "devalued". In 1950, the median American family income was $3,216 In 2016, the median American family income was $56, 516 A dollar is not an investment. A dollar is a dollar. A dollar in 1950 is worth 1 dollar today. No change. Things in the U.S. are priced in dollars, that's why we say the dollar is the currency of the U.S. Nobody holds dollars as an investment. People hold stocks, bonds, real estate, art, cars, etc. as investments. Those are PRICED in dollars. They are not dollars. That is the difference between a currency and an asset. A currency does not "devalue" assets. A currency is what assets are priced in. A bank deposit is not a dollar. A bank deposit is a loan to a bank. You get paid interest for putting money in a bank unless you don't because you have such a small amount of money that the bank's overhead is too much for them to pay you interest. Fixed income is not "devalued" over time, it pays interest over time. Whether you choose to reinvest that or not is up to you.
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Preclus
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July 17, 2017, 03:54:46 AM |
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Care to provide any decade IN THE LAST 70 YEARS with data where fiat wasn't devalued? Its pretty clear that fiat devalues over time, for example: the fiat from cash savings 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED
Can you point to me 1 person who 10 years ago put all their money into "fiat cash" and put it, say, under the bed. Nobody does that. Why? Because a currency is not an investment. A currency is what you pay for things with and is what things are priced in. Nobody holds cash as an investment. They hold: - stocks - bonds - real estate - cars - boats - fine art - airplanes - LLC stakes - loans - etc. None of those are fiat cash. In fact, many people borrow "fiat cash" and buy assets so they are net negative (short) fiat cash. They have a mortgage on a house they need to pay off over time. They are negative "fiat cash" So, the whole premise of what you are talking about is completely wrong. Nobody "saves fiat cash". Even a bank deposit isn't "fiat cash" as fiat cash has a zero return. It is always worth the same. A dollar is worth a dollar.
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centralbanksequalsbombs (OP)
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July 17, 2017, 04:36:28 AM |
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Care to provide any decade IN THE LAST 70 YEARS with data where fiat wasn't devalued? Its pretty clear that fiat devalues over time, for example: the fiat from cash savings 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED
Can you point to me 1 person who 10 years ago put all their money into "fiat cash" and put it, say, under the bed. Nobody does that. Why? Because a currency is not an investment. A currency is what you pay for things with and is what things are priced in. Nobody holds cash as an investment. They hold: - stocks - bonds - real estate - cars - boats - fine art - airplanes - LLC stakes - loans - etc. None of those are fiat cash. In fact, many people borrow "fiat cash" and buy assets so they are net negative (short) fiat cash. They have a mortgage on a house they need to pay off over time. They are negative "fiat cash" So, the whole premise of what you are talking about is completely wrong. Nobody "saves fiat cash". Even a bank deposit isn't "fiat cash" as fiat cash has a zero return. It is always worth the same. A dollar is worth a dollar. =) I see. You are arguing and convincing me that fiat cash devalues over time. Thank you for making it clear.
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GenTarkin
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July 17, 2017, 05:58:40 AM |
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when you tell people "the dollar has lost 95% of its purchasing power in just over 100years; a nickle in 1915 buys what a dollar does today" ... some people ... get it and other folks are still blind as hell by the worlds largest ponzi scheme. What we need is for people to wake up and see that simple truth instead of following blindly this chaotic, controlling, devaluating legalized form of slavery! This will happen once whole system blows outta proportion into a hyperinflation or the US decides to fault on its debts, until then the sheep will continue to follow blind and feel safe.
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Kakmakr
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July 17, 2017, 06:02:26 AM |
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The banks have not learned from the Fractional Reserve banking crisis that we had, which nearly caused a global economic collapse, but were temporarily stalled by dumping massive amounts of tax payers money into it. The practice of manipulation of currencies and the printing of "toilet paper" money is destroying the world economy.
The next crisis is just around the corner and this time tax payers money will not be enough to stop it. ^grrrrrrrr^
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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davis196
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July 17, 2017, 06:02:49 AM |
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the fiat from paycheck 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED
Nobody today is getting a paycheck from 20 years ago. They are getting a paycheck today. Paychecks have not been "devalued". In 1950, the median American family income was $3,216 In 2016, the median American family income was $56, 516 A dollar is not an investment. A dollar is a dollar. A dollar in 1950 is worth 1 dollar today. No change. Things in the U.S. are priced in dollars, that's why we say the dollar is the currency of the U.S. Nobody holds dollars as an investment. People hold stocks, bonds, real estate, art, cars, etc. as investments. Those are PRICED in dollars. They are not dollars. That is the difference between a currency and an asset. A currency does not "devalue" assets. A currency is what assets are priced in. A bank deposit is not a dollar. A bank deposit is a loan to a bank. You get paid interest for putting money in a bank unless you don't because you have such a small amount of money that the bank's overhead is too much for them to pay you interest. Fixed income is not "devalued" over time, it pays interest over time. Whether you choose to reinvest that or not is up to you. "A dollar in 1950 is worth a dollar today."Man, go read some books about economics and check for the term "inflation".A dollar back in 1950 ISN`T worth a dollar now because of the inflation. The currency does not devalue accets,the central bank devalues the currency by printing more and more paper money and the accet prices in dollars increase. Bitcoin is better than paper money because the supply of new bitcoins is reduced.
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Przemax
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July 17, 2017, 07:03:42 PM |
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I agree with the article that one of the symptoms of the current financial sittuation is the wage slavery. Its somewhat a solution to the existing problem, by having a numerous almost slave like labour that is so much in debt that it will serve as a good financial colateral.
As long as people can be sold into the debt bondage the system won't collapse, as it does not matter if the system is absurdal. If it has a free lunch in form of slaves, the efficiency is not important.
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centralbanksequalsbombs (OP)
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August 05, 2017, 10:17:03 PM |
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I agree with the article that one of the symptoms of the current financial sittuation is the wage slavery. Its somewhat a solution to the existing problem, by having a numerous almost slave like labour that is so much in debt that it will serve as a good financial colateral.
As long as people can be sold into the debt bondage the system won't collapse, as it does not matter if the system is absurdal. If it has a free lunch in form of slaves, the efficiency is not important.
Very interesting thoughts. ...But what if those same wages were instead paid in Bitcoin?
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BitWhale
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August 05, 2017, 11:59:11 PM |
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Can you point to me 1 person who 10 years ago put all their money into "fiat cash" and put it, say, under the bed.
Nobody does that. Why? Because a currency is not an investment. A currency is what you pay for things with and is what things are priced in.
It's not like the Forex market has a daily turnover of 1.5 Trillion dollars or anything... LOL I guess that "one person" would be George Soros, the gentleman who broke the bank of England, or maybe the lovely gentlemen over at Goldman Sachs. Fiat currency can absolutely be used as an investment vehicle and MANY MANY investors bet against one country's currency with another country's currency... For instance, when people want to escape the USD they go to JPY, causing JPY to rise majorly against the USD, A.K.A. profit. Also don't forget that the "carry trade" was one of the most profitable trades for nearly a decade. It was very simple, you simply borrow one country's currency with a low interest rate, and buy another country's currency with a higher interest rate. You make a profit by daily interest rate payments. You might not see the dollar move because you are based in a dollar-priced economy, but it does move... It causes the prices of the goods & services you depend on to fluctuate in value, and it's absolutely undeniable that it's purchasing power has gone down majorly as more and more dollars are printed over the years/decades.
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Jordan23
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August 06, 2017, 12:04:07 AM |
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Care to provide any decade IN THE LAST 70 YEARS with data where fiat wasn't devalued? Its pretty clear that fiat devalues over time, for example: the fiat from cash savings 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED
Can you point to me 1 person who 10 years ago put all their money into "fiat cash" and put it, say, under the bed. Nobody does that. Why? Because a currency is not an investment. A currency is what you pay for things with and is what things are priced in. Nobody holds cash as an investment. They hold: - stocks - bonds - real estate - cars - boats - fine art - airplanes - LLC stakes - loans - etc. None of those are fiat cash. In fact, many people borrow "fiat cash" and buy assets so they are net negative (short) fiat cash. They have a mortgage on a house they need to pay off over time. They are negative "fiat cash" So, the whole premise of what you are talking about is completely wrong. Nobody "saves fiat cash". Even a bank deposit isn't "fiat cash" as fiat cash has a zero return. It is always worth the same. A dollar is worth a dollar. The stupidity here is amazing. Off to trade Forex. You know investments in currencies. Delete your account
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xypos
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August 06, 2017, 05:29:20 AM |
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Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubbleGlobal fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks. Excerpt from article: ... "...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks. Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up. The Fractional Reserve Ponzi Scheme The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes. ..." [continues on] Great summary. I think a lot of people forget what bitcoin is created for. In my opinion bitcoin isn't just some sort of magic internet money that is designed to be an investment. Instead it is capable of providing a store of value to those people who do not have any access to otherwise. Fiat currency is going to be depreciative by nature because the government can and will abuse their power to print as much currency as they possibly want. Sooner or later every single fiat currency will die. There are no surviving fiat currencies in history. search it up. Gold and silver are good store of values, and bitcoin is like gold v2.0. It's much easier to carry around(in fact you don't carry it around) and it's much more accessible than gold.
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chixka000
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August 06, 2017, 05:54:40 AM |
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Well, When the banks were created people also doubted it's integrity why would i keep all my money to this certain establishment? How safe my money was? Now bitcoin comes a long people also doubted but much more than that they have the full control of their money in which the bank can't give you ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Is bitcoin really ponzi so as your statements?
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hello_good_sir
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August 06, 2017, 07:41:44 AM |
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Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubbleGlobal fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks. Excerpt from article: ... "...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks. Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up. The Fractional Reserve Ponzi Scheme The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes. ..." [continues on] Lol i thought it was Bill Gates for a sec, and i was like wow the #1 richest man in the world is actively supporting bitcoin! I was so happy for a second, lol. (Just for the record, Bill Gates does seem to support bitcoin or at least say positive things about it. It's just that he does not actively do so). Anyways, the article is completely right. I don't think that people realise how dangerous central banks can really be. Just take a look at zimbabwe and Venezuela, two very recent examples. We're not even in the 20th century, this is 21st century stuff. Both countries looked healthy before their hyperinflation began to overtake the entire economy. Things can happen so quickly. But people who live in a country that currently has good economic standards seem to not care about a decentralized movement or currency because they think that it's enough to have fiat. It obviously can't be farther from the truth. But really, dumb people can hold their fiats all they want. I'll just keep buying bitcoin and hold it for the long term.
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