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Author Topic: Anyone can respond to this guy?  (Read 1010 times)
grondilu
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April 20, 2011, 12:37:47 AM
 #1

Gosh I HATE thos blogs where you can't comment without registering to some crappy website.


http://yglesias.thinkprogress.org/2011/04/if-you-dont-trust-the-dollar-you-have-lots-of-good-options-besides-bitcoin/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+matthewyglesias+%28Matthew+Yglesias%29



Anyone can tell this guy that bitcoinbugs don't trust ANY national currencies, not just USD?
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Anonymous
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April 20, 2011, 03:15:01 AM
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Quote
a new firm called BitCoin


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steelhouse
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April 20, 2011, 04:19:46 AM
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1. You still have to pay capital gains taxes.  A short-term capital gain regardless of how long you hold it.

2.  All the currencies he mentions have inflated too.

Canadian dollars  >1000% since 1971
Australian dollars >1000% since 1971
Euros >100% since 1998
Mexican Pesos - no data but sure it is up
Swiss Francs  >300% since 1971
British Pounds > 600% since 1971
Swedish Krona - no data but like all governments it is up

But you get the point, government uses currency inflation as a means to tax since it is hidden and there is generally about a 4 year lag before the price inflation hits. 

The best stimulus you can give your country is a deflation rebate, balanced budgets and surpluses.
fabianhjr
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April 20, 2011, 04:40:02 AM
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Mexican Pesos - no data but sure it is up

Yes, regardless with popular belief we are very tidy with information. Tongue
http://www.banxico.org.mx/PortalesEspecializados/inflacion/inflacion.html
We even have an easy to use calculator. Cheesy
http://www.banxico.org.mx/polmoneinflacion/servicios/calcDeInflacion/calcDeInflac.html

Which ends up being 586,864.65% in 40 years, from march 1971 to march 2011, with an average monthly inflation of 1.82%.
Note: The Mexican Peso lost 3 zeros in 1991. Wink

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