MeGold666 (OP)
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May 11, 2024, 10:25:30 AM Last edit: May 11, 2024, 10:53:42 AM by MeGold666 |
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If fixed supply can be infinitely inflated ( when it comes to price) and thus creating a bubble that can burst, it is not being different from supply that is not fixed. Example, current Bitcoin price inflated by Tether printer with no real backing. Fixed supply of BTC doesn't matter, when the price can be infinitely inflated by Tether printer.
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Bulltard
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May 11, 2024, 10:35:54 AM |
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If fixed supply can be infinitely inflated and thus creating a bubble that can burst, it is not being different from supply that is not fixed. Example, current Bitcoin price inflated by Tether printer with no real backing. https://i.imgflip.com/8pplvd.jpgBTC supply isn't inflated, wtf are u talkin' about? reread yourself, you seem confused on the difference between price and supply.
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MeGold666 (OP)
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May 11, 2024, 10:37:06 AM Last edit: May 11, 2024, 11:01:13 AM by MeGold666 |
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BTC supply isn't inflated, wtf are u talkin' about? reread yourself, you seem confused on the difference between price and supply.
Yes, the supply as a number is not inflated, the price is inflated. Maybe government is letting Tether printer to run for so long so the bubble grows bigger and when they decide to shut it down, people will lose trust in anything that's not being issued by gov and their CBDC will flourish. But that's off-topic and a conspiracy theory.
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mindrust
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May 11, 2024, 10:59:15 AM |
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If fixed supply can be infinitely inflated (when it comes to price) and thus creating a bubble that can burst, it is not being different from supply that is not fixed.
Example, current Bitcoin price inflated by Tether printer with no real backing.
[img]https://i.imgflip.com/8ppmmm.jpg[/img Fixed supply of BTC doesn't matter, when the price can be infinitely inflated by Tether printer.
FIAT has no real backing either. The only difference between tether and usd is the issuer. USDT is issued by bitfinex, USDT is issued by the FED. Both are backed by nothing. Till now, the authorities didn't care if USDT was backed by USD or not so why should we care if the real owner and the issuer of the FIAT (the FED) doesn't? Fixed supply of BTC kind of matters but it is not always a good thing. Let's say it has its advantages. Would you rather prefer to invest in a non-fixed supply coin like ethereum? That's way more messed up.
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MeGold666 (OP)
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May 11, 2024, 11:03:56 AM |
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FIAT has no real backing either. The only difference between tether and usd is the issuer. USDT is issued by bitfinex, USDT is issued by the FED. Both are backed by nothing. Till now, the authorities didn't care if USDT was backed by USD or not so why should we care if the real owner and the issuer of the FIAT (the FED) doesn't?
Fixed supply of BTC kind of matters but it is not always a good thing. Let's say it has its advantages. Would you rather prefer to invest in a non-fixed supply coin like ethereum? That's way more messed up.
The problem I see here is we are at the mercy of this printer owners / central issuers, if Bitcoin had more organic growth backed by usage it would be much more resilient to price control / bubble bursts. It would still be backed by government printer, but it's less probable that their printer (and all of the money) will be shutdown.
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mindrust
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May 11, 2024, 11:10:05 AM |
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FIAT has no real backing either. The only difference between tether and usd is the issuer. USDT is issued by bitfinex, USDT is issued by the FED. Both are backed by nothing. Till now, the authorities didn't care if USDT was backed by USD or not so why should we care if the real owner and the issuer of the FIAT (the FED) doesn't?
Fixed supply of BTC kind of matters but it is not always a good thing. Let's say it has its advantages. Would you rather prefer to invest in a non-fixed supply coin like ethereum? That's way more messed up.
The problem I see here is we are at the mercy of this printer owners / central issuers, if Bitcoin had more organic growth backed by usage it would be much more resilient to price control / bubble bursts. It would still be backed by government printer, but it's less probable that their printer will be shutdown. I get your point but the FED and the government should worry more about USDT. I used to think and worry about that a lot too but then I stopped caring for this exact reason. If the owner of the real FIAT doesn't care if somebody somewhere printing fake FIAT, why should I care? Another possible reason for that is, they are willingly letting bitfinex do that. Either way it doesn't matter till it matters. They already printed trillions of dollars out of thin air, what's another 100 billion? Nothing.
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MeGold666 (OP)
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May 11, 2024, 11:12:57 AM |
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So the fixed supply is not really defending us against inflation/deflation as it is all controlled by the printers. The more money from this printers (especially non-government like Tether) flows into Bitcoin, the bigger the bubble.
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shield132
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May 11, 2024, 11:44:49 AM |
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What do you mean by saying that Tether can infinitely inflate Bitcoin's price? We trade different pairs of Bitcoin, we can trade Bitcoin to USD, Bitcoin to USDT, Bitcoin to USDC, Bitcoin to DAI, Bitcoin to TUSD, Bitcoin to FDUSD, Bitcoin to Euro and etc... How can tether printing money affect Bitcoin's price? It will only affect Bitcoin to USDT pair, not others. I get your point but the FED and the government should worry more about USDT. I used to think and worry about that a lot too but then I stopped caring for this exact reason. If the owner of the real FIAT doesn't care if somebody somewhere printing fake FIAT, why should I care?
What do you think about Paxos Stablecoins? PYUSD and USDP? BUSD was backed by Paxos if I remember correctly and users successfully managed to claim their dollars one in one.
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Doan9269
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May 11, 2024, 11:50:07 AM |
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BTC supply isn't inflated, wtf are u talkin' about? reread yourself, you seem confused on the difference between price and supply.
Yes, the supply as a number is not inflated, the price is inflated. Maybe government is letting Tether printer to run for so long so the bubble grows bigger and when they decide to shut it down, people will lose trust in anything that's not being issued by gov and their CBDC will flourish. But that's off-topic and a conspiracy theory.Bitcoin is never inflated in price, its value instead increases as we have more demands on it, the supply as well is reduced along the reward for mining bitcoin, you should not use the inflation theory applicable to fiat in comparing to that of bitcoin in a decentralized network, what we have is a fixed supply and the increase in value with time, if you can also remember why bitcoin is a volatile currency.
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MeGold666 (OP)
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May 11, 2024, 12:19:16 PM |
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Unfortunately the price is heavily inflated by Tether with no backing, you can do your own research on that subject. All other pairs will be naturally affected by it. This may interest you: https://youtu.be/eafzIW52Rgc?t=1049
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Wapfika
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May 11, 2024, 12:23:37 PM |
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If fixed supply can be infinitely inflated ( when it comes to price) and thus creating a bubble that can burst, it is not being different from supply that is not fixed. Example, current Bitcoin price inflated by Tether printer with no real backing. Fixed supply of BTC doesn't matter, when the price can be infinitely inflated by Tether printer.You are the only one referring for a price growth as inflation while it’s just a sign that the demand is increasing for Bitcoin. It’s just a simple rule of supply and demand, Bitcoin has a limited supply while the demand is increasing due to its popularity so it’s normal effect is to pump the price because no one wants to sell at low price. Besides, Despite a shadiness surrounded on USDT. It has an audit for their reserves which backed their value. Tether is not the only stablecoin right now on crypto.
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May 11, 2024, 12:25:54 PM |
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I think that in this case you should be worried about USDT and not Bitcoin. Many stablecoins have collapsed and yet Bitcoin is still leading. If something bad happens to USDT, the decline will be temporary and the price will rise again. I can say that the current price of Bitcoin is inflated by the dollar printer without real support, something that has existed since the first day of the creation of Bitcoin.
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stompix
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May 11, 2024, 01:15:52 PM |
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If fixed supply can be infinitely inflated (when it comes to price) and thus creating a bubble that can burst, it is not being different from supply that is not fixed.
Example, current Bitcoin price inflated by Tether printer with no real backing.
You're mistaken about two different things - bitcoin is limited so it can't be printed like USDT, this doesn't mean that the price can't be inflated, it means its value can't be diluted because of printing - any kind of goods and commodity gets a price inflation if there is money poured into it, gold can become inflated, real estate can become so, everything can, the most important thing is that you don't care about it since it grows in value while the fiat counterpart goes down. So the fixed supply is not really defending us against inflation/deflation as it is all controlled by the printers. The more money from this printers (especially non-government like Tether) flows into Bitcoin, the bigger the bubble.
How the fuck is an asset that grows in value while fiat loses value due to inflation not protecting you?
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franky1
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May 11, 2024, 03:35:16 PM Last edit: May 11, 2024, 03:53:36 PM by franky1 |
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if bitcoins price only rose due to fiat money printing inflation
EG if 2009 had fiat at $15trill and 2024 had fiat at $30trill .. and where 1btc was 1/21m EG 2009 1btc was $714,285 in 2009 as being a max goal EG 2024 1btc was $1,428,571 in 2024 as being a max goal
you would have a point
HOWEVER bitcoin is not a peg of fiat bitcoin has its own economics.. EG mining cost has a factor that give bitcoin a base wholesale value layer below market rate to support the market bottoms. bitcoin has its own community of desire, needs, utility and usefulness separate from taxes, fines, labours, debt
the facts of POW, halvings and mining costs play into bitcoins value market and premium market prices.. more than the fiat pressures of fiat laws and fiat politics that play on fiat markets
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Solosanz
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May 11, 2024, 03:49:17 PM |
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Do you think when Tether added more supply, people who own Tether will completely invest in Bitcoin? they can buy any coins they want and Bitcoin a lot pair, it's not only BTC/USDT. Actually Tether should be concerned because they're not completely backed with USD and the government will launch their own stable coin sooner or later.
It's true Bitcoin fixed supply doesn't really matter because what's the point to have fixed supply if there's no demand? that's why Bitcoin's value isn't only the fixed supply.
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Odusko
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May 11, 2024, 03:52:21 PM |
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Fact is bitcoin price is greatly different from it supply limits, and you shouldn't make such presumption calculation that bitcoin price equal it real value when bitcoin can move both sides in price, bitcoin fixed supply means that no more than 21 million bitcoina will ever be in cyculatuon unlike fiat where government print money multiple times in a year without regards to the currency value.
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NeuroticFish
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May 11, 2024, 03:55:13 PM |
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Fixed supply of BTC doesn't matter, when the price can be infinitely inflated by Tether printer.
There are 2 components of the price: the price to get Bitcoin via PoW and the speculation "add-on". Tether part is speculation and can burst at any second (and it usually does in crypto winter). On the other hand, the fact that the supply is fixed comes with acknowledging that bitcoin is very scarce, hence inviting the ones smart enough to invest in it. And from there the price grows in a correct, organic manner. However, you may not care about this, or maybe you just want to troll. And a famous quote pretty much applies here: If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
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Bulltard
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May 11, 2024, 05:20:59 PM |
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BTC supply isn't inflated, wtf are u talkin' about? reread yourself, you seem confused on the difference between price and supply.
Yes, the supply as a number is not inflated, the price is inflated. Maybe government is letting Tether printer to run for so long so the bubble grows bigger and when they decide to shut it down, people will lose trust in anything that's not being issued by gov and their CBDC will flourish. But that's off-topic and a conspiracy theory.lmao... if it's off topic, why do you create... a topic? just don't make threads for the sake of making threads, your op makes zero sense "the supply as a number" ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) if what you wanted to do was to convince us that USDT is not backed, create a thread about that. don't mix everything just to make it look like you know what u're talking about do better.
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bluebit25
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 11, 2024, 05:33:51 PM |
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Supply has never been a problem, it's just peoples like to make this issue important to the investment process.
I have an example of the value of a product, like a stone that exists on the planet we live on, is it infinite or not? The answer would be yes, but the material and monetary value of use is not really worth taking seriously, like the product is not labeled with a price, and if anyone can access it, the numb can't either. I don't think price matters. And the story of water is truly infinite in its cycle but it is necessary for us so it will receive a corresponding price.
Returning to the crypto market things like bitcoin, eth, doge, xrp,... are all tied to fiat value and we can convert them to facilitate life's needs, and the supply problem is only is the way some parties want to manipulate something to seek market share in the field.
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darkangel11
Legendary
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Activity: 2450
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Don't let others control your BTC -> self custody
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May 11, 2024, 06:30:51 PM |
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Yes, the supply as a number is not inflated, the price is inflated.
The price is not inflated but based on normal supply and demand, change my mind ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) I'd even argue that the price is being kept low by governments that do not allow the market to do its thing but go as far as to issue statements on what in their opinion bitcoin is and how much power it consumes. Tether part is speculation and can burst at any second (and it usually does in crypto winter).
You seem to only see the part when tether is used to buy bitcoin, but not the other way round. During crashes a lot of bitcoin is being exchange for it and this puts things more or less in balance. If it's so bad, why do people escape to it and not to USD? The answer is again the government and stupid tax laws that influence the market. Without these laws people wouldn't have to use Tether but could freely and with no limits turn bitcoin into fiat money.
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