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San1ty (OP)
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June 05, 2013, 11:27:58 AM |
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People always seem to think that BTC is overvalued and that we are currently in the great bubble of 2013 with only one possible outcome... Down.
But allow me to warp your mind around:
There is no bubble, we are actually in a great depression, the depression of FIAT!
BTC isn't going up, it's FIAT that's going down! Every day your FIAT is worth a little less.
BTC has decreasing inflation, FIAT has increasing inflation!
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Found my posts helpful? Consider buying me a beer :-)!:
BTC - 1San1tyUGhfWRNPYBF4b6Vaurq5SjFYWk NXT - 17063113680221230777
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The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
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N12
Donator
Legendary
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Activity: 1610
Merit: 1010
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June 05, 2013, 11:35:26 AM |
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BTC isn't going up, it's FIAT that's going down! Every day your FIAT is worth a little less.
That's weird, I was under the impression that the same Bitcoin can buy 10 times more stuff than a few months before. Also weird that one USD doesn't buy me 10 less. Must be some FIAT manipulation by Bernanke or something.  OR Gold, Silver, stocks, real estate are inflating vs. Bitcoin too. Basically, only Bitcoin in this world is stable and all other assets fluctuate agaist it! Finally we see the truth! |
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San1ty (OP)
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June 05, 2013, 12:28:24 PM |
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BTC isn't going up, it's FIAT that's going down! Every day your FIAT is worth a little less.
That's weird, I was under the impression that the same Bitcoin can buy 10 times more stuff than a few months before. Also weird that one USD doesn't buy me 10 less. Must be some FIAT manipulation by Bernanke or something. OR Gold, Silver, stocks, real estate are inflating vs. Bitcoin too. Basically, only Bitcoin in this world is stable and all other assets fluctuate agaist it! Finally we see the truth! Glad you see the light my friend  ! |
Found my posts helpful? Consider buying me a beer :-)!:
BTC - 1San1tyUGhfWRNPYBF4b6Vaurq5SjFYWk NXT - 17063113680221230777
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Zaih
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June 05, 2013, 12:33:35 PM |
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BTC isn't going up, it's FIAT that's going down! Every day your FIAT is worth a little less.
That's weird, I was under the impression that the same Bitcoin can buy 10 times more stuff than a few months before. Also weird that one USD doesn't buy me 10 less. Must be some FIAT manipulation by Bernanke or something. OR Gold, Silver, stocks, real estate are inflating vs. Bitcoin too. Basically, only Bitcoin in this world is stable and all other assets fluctuate agaist it! Finally we see the truth! Glad you see the light my friend ! Poor sarcasm detection xD |
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San1ty (OP)
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June 05, 2013, 12:47:32 PM |
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BTC isn't going up, it's FIAT that's going down! Every day your FIAT is worth a little less.
That's weird, I was under the impression that the same Bitcoin can buy 10 times more stuff than a few months before. Also weird that one USD doesn't buy me 10 less. Must be some FIAT manipulation by Bernanke or something. OR Gold, Silver, stocks, real estate are inflating vs. Bitcoin too. Basically, only Bitcoin in this world is stable and all other assets fluctuate agaist it! Finally we see the truth! Glad you see the light my friend ! Poor sarcasm detection xD Orrr, Great reality dodging skills! (Where is your sense of humor  ) In all seriousness tho: In 2013 1 dollar buys you 1.3% less when compared with 2012. |
Found my posts helpful? Consider buying me a beer :-)!:
BTC - 1San1tyUGhfWRNPYBF4b6Vaurq5SjFYWk NXT - 17063113680221230777
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RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
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June 05, 2013, 01:08:44 PM |
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BTC isn't going up, it's FIAT that's going down! Every day your FIAT is worth a little less.
That's weird, I was under the impression that the same Bitcoin can buy 10 times more stuff than a few months before. Also weird that one USD doesn't buy me 10 less. Must be some FIAT manipulation by Bernanke or something. OR Gold, Silver, stocks, real estate are inflating vs. Bitcoin too. Basically, only Bitcoin in this world is stable and all other assets fluctuate agaist it! Finally we see the truth! Glad you see the light my friend ! Poor sarcasm detection xD Orrr, Great reality dodging skills! (Where is your sense of humor ) In all seriousness tho: In 2013 1 dollar buys you 1.3% less when compared with 2012. ...and BTC buys ~1700% more? Does not compute |
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San1ty (OP)
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June 05, 2013, 01:35:09 PM |
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...and BTC buys ~1700% more? Does not compute
It buys you 1700% more, but is it overvalued? Let's do a little math: How much would BTC be worth if there were as many in existence as there are dollars? Total USD around: 829000000000 Total BTC around: 11247000 829000000000 / 11247000 = 73709 BTC Price in USD: 120 Real BTC Price in USD: 120 / 73709 = 0.0016 Still overvalued? As long as that number is below 1, it's undervalued! TL;DR: It's not a bubble, It's limited edition! PS: How do you like my reality distortion field? |
Found my posts helpful? Consider buying me a beer :-)!:
BTC - 1San1tyUGhfWRNPYBF4b6Vaurq5SjFYWk NXT - 17063113680221230777
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Odalv
Legendary
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Activity: 1400
Merit: 1000
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June 05, 2013, 02:59:10 PM |
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...and BTC buys ~1700% more? Does not compute
It buys you 1700% more, but is it overvalued? Let's do a little math: How much would BTC be worth if there were as many in existence as there are dollars? Total USD around: 829000000000 Total BTC around: 11247000 829000000000 / 11247000 = 73709 BTC Price in USD: 120 Real BTC Price in USD: 120 / 73709 = 0.0016 Still overvalued? As long as that number is below 1, it's undervalued! TL;DR: It's not a bubble, It's limited edition! PS: How do you like my reality distortion field? $908.6 billion in the M0 (only cache, there is 307,212,123 Americans alive. If you took all the cash and divided it up equally, each person should have about $3,000 in cash) M1 represents all of the currency in the M0 money supply, plus all of the money held in checking accounts and other checkable accounts, as well as all of the money in travelers' checks. In July 2009, the M1 money supply for U.S. dollars equaled about $1,655.6 billion All told, anyone looking for all of the U.S. dollars in the world in July 2009 could expect to find around $8.3 trillion in existence. $8T / 21M = $380k/btc :-) |
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afbitcoins
Legendary
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Activity: 2100
Merit: 1061
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June 06, 2013, 06:35:44 PM |
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Since the federal reserve was established 100 years ago, the US dollar has devalued by 98%
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kokojie
Legendary
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Activity: 1806
Merit: 1003
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June 07, 2013, 02:31:44 AM |
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That's bull, fiat value has not went down that much.
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btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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keewee
Legendary
Offline
Activity: 1025
Merit: 1000
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June 07, 2013, 02:40:49 AM |
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That's bull, fiat value has not went down that much.
Perhaps not, but it's a lot  |
1keewee2vRp63UWvPBynT55ZYw6SUCKDB
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hlynur
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June 07, 2013, 02:57:39 AM |
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That's bull, fiat value has not went down that much.
Perhaps not, but it's a lot when was dollar detached from backup by gold standard? |
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desired_username
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June 07, 2013, 04:33:05 AM |
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I don't care much about dollars, but experiencing massive inflation on my own currency is not very nice. :S
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San1ty (OP)
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June 07, 2013, 10:48:07 AM |
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Funny thing is, I'm a European myself! I just in the habit of when talking about Bitcoin valuation I always use dollars :-).
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Found my posts helpful? Consider buying me a beer :-)!:
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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June 07, 2013, 11:15:04 AM |
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That's bull, fiat value has not went down that much.
Perhaps not, but it's a lot when was dollar detached from backup by gold standard? Nixon declared our default in 1971. Prior to that, the peg was moved several times. |
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johnyj
Legendary
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Activity: 1988
Merit: 1012
Beyond Imagination
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June 07, 2013, 11:18:06 AM |
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It's a common sense that empolyees never questioned the profit of the company even their salary is only 1% of the CEO's bonus Same for money, there is no inflation since those banks pocketed all the newly printed money, for every one dollar of inflation, they pocketed 99, that's the reason even after 4x increase of money supply, there is barely some inflation. Anyway, no one cares as long as their milk price do not rise |
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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June 07, 2013, 11:20:46 AM |
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It's a common sense that empolyees never questioned the profit of the company even their salary is only 1% of the CEO's bonus Same for money, there is no inflation since those banks pocketed all the newly printed money, for every one dollar of inflation, they pocketed 99, that's the reason even after 4x increase of money supply, there is barely some inflation. Anyway, no one cares as long as their milk price do not rise |
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johnyj
Legendary
Offline
Activity: 1988
Merit: 1012
Beyond Imagination
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June 07, 2013, 11:28:12 AM |
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It's a common sense that empolyees never questioned the profit of the company even their salary is only 1% of the CEO's bonus Same for money, there is no inflation since those banks pocketed all the newly printed money, for every one dollar of inflation, they pocketed 99, that's the reason even after 4x increase of money supply, there is barely some inflation. Anyway, no one cares as long as their milk price do not rise A 3% increase? When there is 400% increase in money supply  |
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