There was never any such thing as trickle down theory. That was just a retarded caricature used by leftist politicans who had never heard of the laffer curve or the correlation between economic freedom and economic growth and substituted their own imagination for understanding the motives of their opponents.
Not just a normal Bitcoin bear market?
- Thread starter Ed48
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There was never any such thing as trickle down theory. That was just a retarded caricature used by leftist politicans who had never heard of the laffer curve or the correlation between economic freedom and economic growth and substituted their own imagination for understanding the motives of their opponents.
I think the government does need it's own currency, maybe.... So what I think will happen is it will first be added onto their books much like central banks having a basket of currencies. It's also possible that they set some peg, but I of course doubt they want to limit their ability to spend recklessly.
Back when we had a gold standard, was there even a way for anyone to verify if banks actually held what they said they did? With Bitcoin, this isn't an issue.
I already read a headline today that said the ECB said they would limit a digital euro to 1.5 trillion. The world is finite, as are resources, as is labor, so currency needs to also have this constraint.
I agree on the ledger. I think the fixed supply is what will kill bitcoin.
of the 25mm bitcoin, like half is with satoshi and a half of the remaining is in landfills. A proper currency can’t work like That.
In some ways I do tend to agree that a currency has to increase with an increase in production, or maybe an increase in population, or I'm not sure what. If it doesn't, then you have more and more people chasing fewer and fewer dollars. So more dollars have to be made available.
Bitcoin is a fixed supply, but not until 2140 or so. Right now, every 10 minutes another 6.25 coins are created, and they go to the miner that creates the next block. They are doing real work that cannot be faked, just like gold miners are doing real work to get gold out of the ground. But when Powell just prints up a trillion dollars with no input of effort and sprinkles it first all over the rich people, which only makes stuff more expensive for the lower classes, I have a huge problem with that. (Keep in mind that 1 bitcoin is divisible into 100 million parts, called a satoshi, so there isn't really a shortage of coins. I'm not suggesting that I will one day buy bubble gum for 1 satoshi.... we can use government issued currencies for that. But we can very easily treat bitcoin as savings, and exchange for fiat when we need to. Just like you would with a gold bar today.)
So maybe a fixed supply isn't most ideal, but its a heck of a lot better than an unlimited supply. If you ever came across Jeff Booth, he has a book called The Price of Tomorrow. His main thesis is that as technology advances, it leads to a deflationary world where things should be getting cheaper. But given our monetary system based on debt and an ever expanding supply of dollars, its at direct odds with the direction that technology is moving. So you have these two systems battling it out. Its quite the interesting idea.
The idea that even 2% inflation is a goal baffles me. Why should we lose money every year? Its only to supports a failed system. The banking system worked just fine before fractional reserve banking came along. Inflation is a hidden tax, and I would much rather see the tax labelled for what it is, rather than accepting a forever inflating money supply as a way to reduce government debt.
So honestly, bitcoin is necessary in order to provide another way forward. There is simply no way right now to save the debt based system, no matter how much Powell tries with interest rate rises and the appearance of sound monetary policy now with their keep interest to tame inflation. If you're over 300lbs, the only solution is exercise and reducing caloric intake so that your expenditure is higher than your intake. And you need to do this for not only months, but the rest of your life. You can never go back to eating more than you burn if you want maintain a healthy weight once you get there. Our system will never have a balanced budget or a reduction in the debt. Its a 400lbs obese man who cannot take any steps necessary in order to reduce his weight. The end is guaranteed death, maybe via a sudden heart attack.
The public may find value when there is a crypto that is not hard to learn and use, and does not have a high likelihood of volatility, fraud and theft. Actually, no. The banking system works very well; why make your life much more difficult. I predict that Crypto will never replace our existing systems; though there may be a small market that continues for crypto die hards. I doubt that crypto will be Bitcoin.
I bought BTC and a half dozen other cryptos out of greed, months before they all collapsed. Me and several million other greedy noobs.
Then I started thinking about what I bought. Coming from supply chain, blockchain made a lot of sense, and reading a little about it, I could see blockchain as a formidable ledger for so many transaction types. I was interested. BTC was tied to blockchain and speculation was pushing its price up, so I jumped in.
That's when I spent more time reading about BTC and discovered the underlying anarchist/right wing movement pushing it. Extra governmental system, anti governmental response to currency manipulation... Not my anxiety, I believe in government because I elect its representatives. And so I started looking into what BTC could be from a more rational perspective, a gold replacement, a basket of currency replacement, a supra exchange thing between governments... I tried, but the most adamant believers always seem to come back to their anarchist ideal. And the more time I spend on this, the more I think I'm wasting my time.
Down 68%. Whatever. I will wait for this investment to be a total write off or laugh all the way to the bank when BTC and co. shoot to the moon within 5 years time, or so.
Then I started thinking about what I bought. Coming from supply chain, blockchain made a lot of sense, and reading a little about it, I could see blockchain as a formidable ledger for so many transaction types. I was interested. BTC was tied to blockchain and speculation was pushing its price up, so I jumped in.
That's when I spent more time reading about BTC and discovered the underlying anarchist/right wing movement pushing it. Extra governmental system, anti governmental response to currency manipulation... Not my anxiety, I believe in government because I elect its representatives. And so I started looking into what BTC could be from a more rational perspective, a gold replacement, a basket of currency replacement, a supra exchange thing between governments... I tried, but the most adamant believers always seem to come back to their anarchist ideal. And the more time I spend on this, the more I think I'm wasting my time.
Down 68%. Whatever. I will wait for this investment to be a total write off or laugh all the way to the bank when BTC and co. shoot to the moon within 5 years time, or so.
LOL.... And you really think they have your best interest at heart? We wouldn't need bitcoin if the government truly worked for the people. The government keeps pushing for inflation, which is stealing your money. They only cater to the elites because they know that they can enrich themselves. They spend money that they don't have, which is completely reckless, and they of course don't care because someone else can clean up the mess after they leave office with their fat pensions. They first and foremost care about themselves, and if their well being and income was tied to their performance, things would be done much differently.
Consenting adults should be able send each other payments. There's a wide gulf between that and actual anarchy.
Now I remember why I muted you.