jimbobway (OP)
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July 13, 2011, 09:37:24 PM |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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smoothie
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LEALANA Bitcoin Grim Reaper
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July 13, 2011, 09:53:05 PM |
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What Mr. Benanke doesn't realize is that money is also an asset. Gold is an asset and gold is money therefore gold is money. He is plainly stupid. |
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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Serge
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July 13, 2011, 09:59:18 PM |
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Gold isn't money because it was not issued by Mr. Benanke
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foggyb
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July 13, 2011, 10:09:10 PM |
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What Mr. Benanke doesn't realize is that money is also an asset. Gold is an asset and gold is money therefore gold is money. He is plainly stupid. Most money (currency) today is based on debt. Is debt an asset? |
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Anonymous
Guest
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July 13, 2011, 10:15:23 PM |
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What Mr. Benanke doesn't realize is that money is also an asset. Gold is an asset and gold is money therefore gold is money. He is plainly stupid. Most money (currency) today is based on debt. Is debt an asset? The debt is backed by collateral -- the citizens and their property supposedly. |
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static
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July 13, 2011, 10:16:10 PM |
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wtf!?
people actually listen to osama bin bernanke?!
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Jaime Frontero
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July 13, 2011, 10:25:39 PM |
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Most money (currency) today is based on debt. Is debt an asset?
folks buy it and sell it, so i guess so. |
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barbarousrelic
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July 14, 2011, 12:31:06 AM |
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[quote author=smoothie link=topic=28629.msg360227#msg360227
What Mr. Benanke doesn't realize is that money is also an asset. Gold is an asset and gold is money therefore gold is money. He is plainly stupid.
[/quote]
Your logic does not follow. (A penny is a coin and a nickel is a coin, therefore, a penny is a nickel?)
Money is defined as the most marketable thing - the easiest thing there is to trade. Gold is not the easiest thing to trade. Just try bringing it to a business.
It can be money, a very good form of money. But it is not in our society.
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Do not waste your time debating whether Bitcoin can work. It does work.
"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.
There is no such thing as "market manipulation." There is only buying and selling.
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shady financier
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etcetera
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July 14, 2011, 12:39:02 AM |
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What Mr. Benanke doesn't realize is that money is also an asset. Gold is an asset and gold is money therefore gold is money. He is plainly stupid. Most money (currency) today is based on debt. Is debt an asset? Yes. A mortgage for instance, or CDOs. |
1G8AUgSTAw8hfatNnDHuYEqBAUzC3qvAAL Bitcoin news: http://thebitcoinsun.com/Rapidlybuybitcoin here.The value of goods, expressed in money, is called “price”, while the value of money, expressed in goods, is called “value”. C. Quigley |
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Giraffe.BC
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July 14, 2011, 12:57:31 AM |
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So....what's wrong with saying gold isn't money? Gold isn't money. People don't exchange it for goods and services, people buy it (with actual money) and hold onto it. Just like other assets, e.g. silver, oil, buildings, paintings, etc. I know goldbugs love bashing the Fed, but this is just silly. |
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Nescio
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July 14, 2011, 01:51:53 AM |
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So....what's wrong with saying gold isn't money? That's not the question. The question is why Mr. Bernanke wants it not to be money. That's not really a question either, but I digress. |
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Giraffe.BC
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July 14, 2011, 02:12:51 AM |
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So....what's wrong with saying gold isn't money? That's not the question. The question is why Mr. Bernanke wants it not to be money. That's not really a question either, but I digress. I heard he doesn't want candy to be money either! Why does he hate candy? What's his angle??? |
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Shinobi
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July 14, 2011, 02:17:12 AM |
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And why do you think this is? Is he scared that we'll be walking around with nuggets of gold, a bag of shavings and a scale just to go buy a loaf of bread? So....what's wrong with saying gold isn't money? That's not the question. The question is why Mr. Bernanke wants it not to be money. That's not really a question either, but I digress. |
_______ Thinking of using a cheap, yet reliable VPN? Go with PrivateInternetAccess. Not a referral link. Just a satisfied customer! |
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Grinder
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July 14, 2011, 08:24:53 AM |
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That's not the question. The question is why Mr. Bernanke wants it not to be money. That's not really a question either, but I digress.
Another question is why you are claiming that Bernanke doesn't want gold to be money, when he never said that. All he said is that gold is not money. Neither is salt. It has been and it could be, but it currently isn't. Your assumption is probably right though, I don't think he wants gold to be money either. The reason is that it has been tried, and found to create a lot of problems that fiat doesn't have. Some would prefer those problems over those fiat creates, either because they think they are smaller, or because they pretend they aren't actually problems. They are apparently a minority in practically every part of the world, though. |
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fennec
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July 14, 2011, 09:34:39 AM |
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What Mr. Benanke doesn't realize is that money is also an asset.
You're kidding, right? |
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kloinko1n
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July 14, 2011, 10:57:45 AM |
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Gold isn't money because it was not issued by Mr. Benanke
Bernanke has no right to issue money. The only institute that has the constitutional right (and duty) to issue money, is congress. |
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kloinko1n
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July 14, 2011, 10:59:51 AM |
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What Mr. Benanke doesn't realize is that money is also an asset. Gold is an asset and gold is money therefore gold is money. He is plainly stupid. Most money (currency) today is based on debt. Is debt an asset? The debt is backed by collateral -- the citizens and their property supposedly. This is the truth. Afther more than 2 centuries the new elite has found a way to return the people to slavery and themselves to the parasites aka rulers. |
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pointbiz
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1ninja
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July 14, 2011, 01:40:33 PM |
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WOW  He's got such a poker face. Bernanke is a good liar. |
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hazek
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July 14, 2011, 01:54:53 PM
Last edit: July 14, 2011, 03:01:14 PM by hazek |
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So....what's wrong with saying gold isn't money? Gold isn't money. People don't exchange it for goods and services, people buy it (with actual money) and hold onto it. Just like other assets, e.g. silver, oil, buildings, paintings, etc. I know goldbugs love bashing the Fed, but this is just silly. Have you been to Utah recently? Gold is money.. and has been for the last 6000 years of our history, and somehow you know better? What is money:  |
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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