Bitcoin Quantitative Easing | Bitcointalksearch.org

The One

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Quote from: Minecache on August 07, 2017, 09:15:56 AM

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

Another post attacking bitcoin cash. Yawn. Sad

Bankers benefited at the expense of citizens = victims.

All holders benefit equally and no victims.

Apple and orange comparison is naff.

deisik

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Quote from: Minecache on August 07, 2017, 11:28:30 AM

Quote from: deisik on August 07, 2017, 11:21:35 AM

Quote from: Minecache on August 07, 2017, 10:48:46 AM

Quote from: deisik on August 07, 2017, 10:39:29 AM

Quote from: Minecache on August 07, 2017, 09:15:56 AM

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

I don't think we could equal these events

Though I like your analogy too. The main difference is that Bitcoin holders are not given original bitcoins (created out of thin air). If we cut the crap about Bitcoin Cash, people are basically given free dollars (by selling their Bitcoin cash tokens for fiat) with which they can buy more real bitcoins. If anything, it works in the opposite direction in respect to fiat quantitative easing. In this way, this giveaway should rather be called quantitative tightening since it increases demand for regular Bitcoin leading to its higher prices (and higher interest rates if we are to extend the analogy)

I suppose it is not a direct comparison but my point was that in traditional QE your savings will lose value as it is out of your hands. In crypto QE you will get a 1:1 token on par with your holdings to save or spend. It doesn't have to be a bitcoin

And that is my point too

That is, in the case of cryptocurrencies it actually works in reverse, so your (Bitcoin) savings don't lose any value (unlike traditional QE). And since most people will nevertheless spend these giveaways on buying more bitcoins (what we already witness, anyway), it would in fact work as a quantitative tightening, not easing. Even if you don't buy bitcoins but buy, say, litecoins instead, it would still work in the way I described, and the net effect would be essentially the same (but then with regard to Litecoin, obviously)

So in crypto what can we class as quantitative easing? How do we take value away from those Bitcoins already distributed? Is it an impossible task?

It is certainly not impossible

In fact, it is even somewhat easier. Bitcoin has reward halving through which the market supply of coins is diminished (that should obviously be construed as quantitative tightening). Conversely, the reverse process by which the market supply of coins is increased should be considered as quantitative easing, i.e. more coins entering the market within the same amount of time (let's call that reward doubling or tripling, or whatever). Though I don't know if that has ever been done in practice for any coin, but it is certainly possible to do. Aside from that, just raising or completely removing the cap for capped coins should essentially work in the same way

Minecache

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Quote from: deisik on August 07, 2017, 11:21:35 AM

Quote from: Minecache on August 07, 2017, 10:48:46 AM

Quote from: deisik on August 07, 2017, 10:39:29 AM

Quote from: Minecache on August 07, 2017, 09:15:56 AM

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

I don't think we could equal these events

Though I like your analogy too. The main difference is that Bitcoin holders are not given original bitcoins (created out of thin air). If we cut the crap about Bitcoin Cash, people are basically given free dollars (by selling their Bitcoin cash tokens for fiat) with which they can buy more real bitcoins. If anything, it works in the opposite direction in respect to fiat quantitative easing. In this way, this giveaway should rather be called quantitative tightening since it increases demand for regular Bitcoin leading to its higher prices (and higher interest rates if we are to extend the analogy)

I suppose it is not a direct comparison but my point was that in traditional QE your savings will lose value as it is out of your hands. In crypto QE you will get a 1:1 token on par with your holdings to save or spend. It doesn't have to be a bitcoin

And that is my point too

That is, in the case of cryptocurrencies it actually works in reverse, so your (Bitcoin) savings don't lose any value (unlike traditional QE). And since most people will nevertheless spend these giveaways on buying more bitcoins (what we already witness, anyway), it would in fact work as a quantitative tightening, not easing. Even if you don't buy bitcoins but buy, say, litecoins instead, it would still work in the way I described, and the net effect would be essentially the same (but then with regard to Litecoin, obviously)

So in crypto what can we class as quantitative easing? How do we take value away from those Bitcoins already distributed? Is it an impossible task?

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Minecache on August 07, 2017, 10:48:46 AM

Quote from: deisik on August 07, 2017, 10:39:29 AM

Quote from: Minecache on August 07, 2017, 09:15:56 AM

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

I don't think we could equal these events

Though I like your analogy too. The main difference is that Bitcoin holders are not given original bitcoins (created out of thin air). If we cut the crap about Bitcoin Cash, people are basically given free dollars (by selling their Bitcoin cash tokens for fiat) with which they can buy more real bitcoins. If anything, it works in the opposite direction in respect to fiat quantitative easing. In this way, this giveaway should rather be called quantitative tightening since it increases demand for regular Bitcoin leading to its higher prices (and higher interest rates if we are to extend the analogy)

I suppose it is not a direct comparison but my point was that in traditional QE your savings will lose value as it is out of your hands. In crypto QE you will get a 1:1 token on par with your holdings to save or spend. It doesn't have to be a bitcoin

And that is my point too

That is, in the case of cryptocurrencies it actually works in reverse, so your (Bitcoin) savings don't lose any value (unlike traditional QE). And since most people will nevertheless spend these giveaways on buying more bitcoins (what we already witness, anyway), it would in fact work as a quantitative tightening, not easing. Even if you don't buy bitcoins but buy, say, litecoins instead, it would still work in the way I described, and the net effect would be essentially the same (but then with regard to Litecoin, obviously)

Minecache

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Merit: 1024

Vave.com - Crypto Casino

Quote from: deisik on August 07, 2017, 10:39:29 AM

Quote from: Minecache on August 07, 2017, 09:15:56 AM

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

I don't think we could equal these events

Though I like your analogy too. The main difference is that Bitcoin holders are not given original bitcoins (created out of thin air). If we cut the crap about Bitcoin Cash, people are basically given free dollars (by selling their Bitcoin cash tokens for fiat) with which they can buy more real bitcoins. If anything, it works in the opposite direction in respect to fiat quantitative easing. In this way, this giveaway should rather be called quantitative tightening since it increases demand for regular Bitcoin leading to its higher prices (and higher interest rates if we are to extend the analogy)

I suppose it is not a direct comparison but my point was that in traditional QE your savings will lose value as it is out of your hands. In crypto QE you will get a 1:1 token on par with your holdings to save or spend. It doesn't have to be a bitcoin.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Minecache on August 07, 2017, 09:15:56 AM

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

I don't think we could equal these events

Though I like your analogy too. The main difference is that Bitcoin holders are not given original bitcoins (created out of thin air). If we cut the crap about Bitcoin Cash, people are basically given free dollars (by selling their Bitcoin cash tokens for fiat) with which they can buy more real bitcoins. If anything, it works in the opposite direction in respect to fiat quantitative easing. In this way, this giveaway should rather be called quantitative tightening since it increases demand for regular Bitcoin leading to its higher prices (and higher interest rates if we are to extend the analogy)

Minecache

legendary

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Quote from: thejaytiesto on August 07, 2017, 10:17:54 AM

Quote from: Minecache on August 07, 2017, 09:15:56 AM

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

Good point, at least when a split happens everyone gets their "free money", even tho nothing is really free, when a split happens it has consequences so it's not going to be totally free. But in the long term you end up with more BTC as you dump the fake BTC and it always ends up recovering.

But we can't have this circus going on frequently because it's just not serious.

Yes I agree as I do not believe in QE of any sort. I was simply pointing out the difference in traditional banking/government QE and bitcoin/crypto QE. In crypto QE the holders and savers get the money to protect against the devaluation of their savings to spend/save as they please. In banking QE the banksters are handed the money by the government to do as they please (usually for the benefit of themselves and their mates), thus devaluing the original savers savings.

I do not believe in QE of any form.

thejaytiesto

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Merit: 1014

Quote from: Minecache on August 07, 2017, 09:15:56 AM

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

Good point, at least when a split happens everyone gets their "free money", even tho nothing is really free, when a split happens it has consequences so it's not going to be totally free. But in the long term you end up with more BTC as you dump the fake BTC and it always ends up recovering.

But we can't have this circus going on frequently because it's just not serious.

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Traditional fiat quantitative easing dictates that the government releases securities to be purchased by that central bank to pass onto all with grace and favour, i.e bankers.

Bitcoin quantitative easing, as seen with Bitcoin Cash, dictates that the new miners releases new bitcoins to be all original hodlers of that coin to spend as they please.

In summary:

Traditional QE = Helicopter money for the bankers.
Bitcoin QE = Helicopter money for all hodlers of Bitcoin.

Topic: Bitcoin Quantitative Easing (Read 496 times)