BitMos
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Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
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February 21, 2015, 04:44:16 PM |
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I just created 100 pennies and I loaned them out to you + interest… How is it possible for you to pay me the 101 pennies you now legally owe me if only 100 pennies are in circulation?
Nice argument against non-inflationary currencies, which Bitcoin is hoping to become. Let's try your problem, starting with this "sound money": You have all of the gold in the world, and lend it to me @ .1% yearly interest.
"How is it possible for you me to pay me you etc., etc.?"head shot, monster kill, godlike  . what's funny is those with phd in eco101 in the west don't get it. lol, but they get state dollars and they can fuck your daughters against her grad. they can't trade however, never have, never will. Steal it from someone else. Its a zero sum game (scam) where someone always loses.
wanna play negative sum game? I hope your "kinethy" is better than mine. |
money is faster...
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odolvlobo
Legendary
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Activity: 4298
Merit: 3209
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February 21, 2015, 06:48:54 PM |
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I just created 100 pennies and I loaned them out to you + interest… How is it possible for you to pay me the 101 pennies you now legally owe me if only 100 pennies are in circulation?
Nice argument against non-inflationary currencies, which Bitcoin is hoping to become. Let's try your problem, starting with this "sound money": You have all of the gold in the world, and lend it to me @ .1% yearly interest. "How is it possible for you me to pay me you etc., etc.?" You have constructed scenarios in which it is impossible to pay the interest. My point is that those scenarios don't represent anything real. They do not exist in the real world. Your scenarios are moot. |
Join an anti-signature campaign: Click ignore on the members of signature campaigns.
PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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NotLambchop
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February 21, 2015, 07:04:49 PM |
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I just created 100 pennies and I loaned them out to you + interest… How is it possible for you to pay me the 101 pennies you now legally owe me if only 100 pennies are in circulation?
Nice argument against non-inflationary currencies, which Bitcoin is hoping to become. Let's try your problem, starting with this "sound money": You have all of the gold in the world, and lend it to me @ .1% yearly interest. "How is it possible for you me to pay me you etc., etc.?" You have constructed scenarios in which it is impossible to pay the interest. My point is that those scenarios don't represent anything real. They do not exist in the real world. Your scenarios are moot. I have offered a single, hypothetical scenario. Just like OP. You don't think OP has really issued 100 pennies, lent them to me at interest, and I was brokeass enough to take him up on it? Or do you? |
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BitMos
Full Member
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Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
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February 21, 2015, 07:46:06 PM |
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I just created 100 pennies and I loaned them out to you + interest… How is it possible for you to pay me the 101 pennies you now legally owe me if only 100 pennies are in circulation?
Nice argument against non-inflationary currencies, which Bitcoin is hoping to become. Let's try your problem, starting with this "sound money": You have all of the gold in the world, and lend it to me @ .1% yearly interest. "How is it possible for you me to pay me you etc., etc.?" You have constructed scenarios in which it is impossible to pay the interest. My point is that those scenarios don't represent anything real. They do not exist in the real world. Your scenarios are moot. miscreant and ignorant, it's called rehypothecation, to infinity, they will pretend to have create more "fake papers" and tell you that you can pay them with a new loan, or a long term duration, anyway... enslavers of Mankind always perish, like the Men of past "fake" Pharaoh. ONLY GOD IS THE GREATEST. THERE IS NO GOD BUT GOD. please I think that we should all stop to feed the fed trolls, they have fucked enough in this world for us not waste more time, let's trade btc, let's improve liquidity, let's improve the ecosystem, let them die in their irrelevance. |
money is faster...
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kennyP
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February 21, 2015, 11:09:38 PM |
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Cool, a leopard can't change its spots I guess lol
My point doesn't change anything, but it might explain why nobody is backing you up bro. It's probably NOT because they're ball-snipped cowards, more likely many are 'enjoying' your public displays of pain & frustration. Not nice, but probably true, and the reason is you've irritated a lot of people here. Not me though, I think you're OK, but I think I'm in the minority.
In a time of crisis you want/need friends & allies to help you.
Are you listening to yourself type?  'enjoying' your public displays of pain & frustration... In a time of crisis you want/need friends & allies to help you...  Let's wait and see how much I give a FLYIN' FUCK watching this FUCKIN' ASSHOLE kiss both his projects GOOD-FUCKIN'-BYE... while I PISS ON ALL THOSE FUCKIN' SELFISH COWARDS' INVESTMENTS NONSTOP TILL THEY WISH THEY HAD BOUGHT URO INSTEAD!!!  Ok bro, good luck then!! I think your approach (angry abuse to bystanders) just makes you look like a pissed off delusional crazy guy, so not many people will take your claims seriously, but maybe I'm wrong. If your goal is to change opinions your approach obviously isn't working that well. Now, can you 'welcome' me to your ignore list, and we'll both move on  |
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Harry Hood
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February 22, 2015, 08:16:13 AM |
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Is the OP ever going to enlighten us with his answer?
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lyth0s
Legendary
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Activity: 1260
Merit: 1000
World Class Cryptonaire
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February 22, 2015, 08:36:25 AM |
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Is the OP ever going to enlighten us with his answer?
You can't. You need to borrow more money from the printer and thus you have more debt, and thus have to borrow......well you get the picture. |
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Q7
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February 22, 2015, 09:30:18 AM |
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Is the OP ever going to enlighten us with his answer?
What OP is trying to say is that fiat basically revolves around debt. There will never be enough money to pay back the loan so goes on a cycle of money printing to ensure there is always enough supply. |
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btcbug
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February 22, 2015, 01:03:29 PM |
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Maybe I'm wrong, but I'm not sure the OP was meant to be about credit. I'm thinking this was a question of money as debt.
Credit can exist and that's fine. The FED on the other hand creates the money and lends it into existence, which creates a debt. When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it. In reality the national debt can never be paid off because to do so would mean having to borrow more money. That's why the whole discussion of debt ceilings is a complete joke. The debt was never meant to be paid off because it wasn't actually money borrowed from somebody elses savings (except fot the bit owed to foreign governments)
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NotLambchop
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February 22, 2015, 01:09:16 PM |
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...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. |
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najzenmajsen
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February 22, 2015, 01:59:00 PM |
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...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. nope , btc is created out of electricity and math my friend. |
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NotLambchop
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February 22, 2015, 02:32:23 PM
Last edit: February 22, 2015, 04:00:39 PM by NotLambchop |
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...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. nope , btc is created out of electricity and math my friend. As I said, wasted electricity and digital thumb-twiddling. Why not make my turds the new world currency? I've been constantly pooping issuing them since birth (like Bitcoin), and many are currently irretrievably lost, for extra scarcity. Like Bitcoin. Unless you think me immortal, the total number of turds to be issued is limited, because math and science. Further, unlike Bitcoin, my poop is tangible & has value beyond its monetary worth. My turds also have only a nominal learning curve--easily understood by goldbugs and Bitcoiners. Bonus! Best of all, turds do not rely on the internet (which we all know is controlled by NSA/CSS & other Jews) or malware-infested smartphones (which will be all destroyed by the inevitable EMP). Get in on the ground floor before the sheeple catch on, don't miss the moontrain, Bitcoiner! |
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BitMos
Full Member
Offline
Activity: 182
Merit: 123
"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"
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February 22, 2015, 03:46:38 PM |
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...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. nope , btc is created out of electricity and math my friend. ohhh they must hate math... you have no idea... they fucked us, now they will be forced to repay it all, will they keep their earthly life a little longer is the only q left. -V- |
money is faster...
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AtheistAKASaneBrain
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February 22, 2015, 03:58:55 PM |
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...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. nope , btc is created out of electricity and math my friend. As I said, wasted electricity and digital thumb-twiddling. Why not make my turds the new world currency? I've been constantly pooping issuing them since birth (like Bitcoin), and many are currently irretrievably lost, for extra scarcity. Like Bitcoin. Unless you think me immortal, the total number of turds to be issued is limited, because math and science. Further, unlike Bitcoin, my poop is tangible & has value beyond its monetary worth. Further unlike Bitcoin, my turds also have only a nominal learning curve--easily understood by goldbugs and Bitcoiners. Bonus! Best of all, turds do not rely on the internet (which we all know is controlled by NSA/CSS & other Jews) or malware-infested smartphones (which will be all destroyed by the inevitable EMP). Get in on the ground floor before the sheeple catch on, don't miss the moontrain, Bitcoiner! It's ok grandpa, now take the meds and go to sleep. |
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NotLambchop
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February 22, 2015, 04:09:37 PM |
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...
It's ok grandpa, now take the meds and go to sleep.
Go ahead, hate on my turds. Why is it you sheeple always attack that which you don't understand? Have you even bothered to read the toilet paper? Like Saturdshi Nakakamoto said, "first they laugh at you, then they ignore you, then... you buy my turd now, roundeye?"  |
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CtrlAltBernanke420 (OP)
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February 23, 2015, 02:35:24 AM |
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This basically the question russia is going to answer for the US…. Got them tanks lined up… The whole velocity of money doesnt answer the debt based system. Even a gold based system has its problems, because if you have 1 oz of gold, and you loaned it out at 0% interest, I sell something for a profit, I will not be able to pay 100% of the loan… Ever and make a profit..
its a thorny problem.
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neoneros
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February 23, 2015, 08:44:49 AM |
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Double spend them and hope they do not notice  |
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btcbug
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February 23, 2015, 12:54:38 PM |
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...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. Not in the same sense that fiat is created, that's correct. If Bitcoin didn't have a limit of 21 million and was always inflating at some rate determined by a privileged elite, then it would be the same as fiat. Since it is limited (whether that is ultimately good or bad) at least it's predictable. Credit can still be issued in many forms on top of that, but at least the money supply is relatively scarce. Even if you think some inflation in the money supply IS beneficial, at least with competing crypto currencies on a free market the people can determine where they want to hold their wealth. What I can't fucking stand about the these arguments is that we don't really know who's "right" because the people in power have forced their preference on the rest of the world through monopolization of currency issuance. Who gives a shit if BTC is the be all and end all of money. The important thing is that cryptos will get out of the hands of the governments and the market will decide what is best! |
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Erdogan
Legendary
Offline
Activity: 1512
Merit: 1005
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February 23, 2015, 01:08:50 PM |
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...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. Not in the same sense that fiat is created, that's correct. If Bitcoin didn't have a limit of 21 million and was always inflating at some rate determined by a privileged elite, then it would be the same as fiat. Since it is limited (whether that is ultimately good or bad) at least it's predictable. Credit can still be issued in many forms on top of that, but at least the money supply is relatively scarce. Even if you think some inflation in the money supply IS beneficial, at least with competing crypto currencies on a free market the people can determine where they want to hold their wealth. What I can't fucking stand about the these arguments is that we don't really know who's "right" because the people in power have forced their preference on the rest of the world through monopolization of currency issuance. Who gives a shit if BTC is the be all and end all of money. The important thing is that cryptos will get out of the hands of the governments and the market will decide what is best! There is another fundamental difference, and that is there is no seigniorage. The miners have costs that are approximately the same as the value of the coins they produce. In fiat, the seigniorage is approximately 100% (in case of debt issuance), which goes to the state and the friends of the state. So even (for a hypothetical different bitcoin) with a continuous inflation, there will be no transfer of value from old holders to receivers of new money. Both gains and losses in case of fluctuations in value, will be spread over all holders. |
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NotLambchop
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February 23, 2015, 01:59:49 PM |
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...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it... And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling. Not in the same sense that fiat is created, that's correct. If Bitcoin didn't have a limit of 21 million and was always inflating at some rate determined by a privileged elite, then it would be the same as fiat. You seem to have missed my point, that being: both fiat and Bitcoin are created "out of thin air." Caveat: fiat has an existent economy behind it, "stuff" backing it--armies, cows, cars, etc., etc. Bitcoin, OTOH, does not. It merely dilutes the currencies of existent economies, much like counterfeit money. The 21mil BTC limit is neither here nor there, that can easily be changed with a hardfork. |
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