Topic: Ending debt slavery - This is why Bitcoin exists and it's begun. (Read 1254 times)

 Money can't be printed by "any bank". Printing new money only cause devaluation of this currency (btw that can be usefull for Greeks but harmfull for the whole eurozone). That is not the reason why someone is giving money to Greece and I don't see any obvious reason why ppl will stop doing it even if they use limited bitcoin.

Money would be scarce because fractional reserve would be very difficult to achieve, and banks wouldn't be able to print money out of thin air. So they won't lend any money unless for a project with low default chances and in exchange for an high risk-repaying interest.

Now they are throwing money to enslave greeks

As it was mentioned on the first post debt restructing might be a solution for the current problem. But what should stop ppl from borrowing money in bitcoins? If you use a new kind of money it doesn't mean that you won't be able to borrow more. The problem is how you use those money.

The problem is that Greeks are actually paying hard for money that the banks just printed out (or to say better accredited - they didn't even took the effort to print). Btc won't solve the actual problem, but the future ones.

Sounds like "You can't lend money because you don't have it". If you want to borrow money then you will find the way to do it. No matter what kind of money are you planning to use.
The problem is that someone (for example country - Greece) can't pay it's debts so how bitcoin can help here?

Fist of all, you can't lend mre money tha you don't actually have.
This alone would be a big vantage when compared to fiat

It doesent seem ike the bitcoin i a solution for debts that you or your country don't want to pay. Creating a new kind of money won't solve your problems.
But anyway i'm curious how do you think the bitcoin can solve the debt crisis?

I am very much positive regarding this that Bitcoin will one day eliminate the Debt Slavery. This could be one of the reasons of introducing Bitcoin apart from helping out the investors in making a lot of money from it.

Bitcoin will never the solution to an economy mired in so many mistakes of the past and whose fruits of wrong decisions are right now haunting them. Yes, Bitcoin can be of help but I don't think it is the real solution. Bitcoin will not pay any nation's debt. Bitcoin can not give a leader the needed political will to solve problems. Bitcoin is not the savior the country is looking for...the people should look it up themselves analyze the mistakes and unite as to what to do next.

The government has to learn to fix their gargantuan problems and slowly build the kind of confidence and trust needed for an economy to grow again. And they should accept responsibility and must renounce policies that created the present environment. Easy words and I know that in a gloomy political and economic climate those are not really easy to accomplish.

This still holds true.  Ending debt slavery.... MAN WE NEED THIS!!!!

The difference lies in how the money is created. If it is created by similar production effort that equal to the exchanged product/service, then its fair trade. If it is created as IOU (a promise out of thin air), then it is a scam: you can keep promising without producing anything, as long as you successfully make anyone else believe its value and use it as payment medium

You seem to forget that the value of the paper money is somehow created. The person that has the paper money to spend, provided a service, like building a road, helping a business out, whatever, in return he gets an IOU that can be handed out to more people than just the person he provided the service for.

The problem is indeed, that 1. more paper enters than service is provided. 2. more money is spent than service is provided.

If you borrow real money that is created by work/resource, then it is honorable to return it in time, that is for sure. But if you borrow some paper money that is created out of nothing, then clever people will try to return as little as possible, because once they spend that borrowed paper successfully, they have successfully dumped it to the next fool who exchange something valuable for nothing. The game is over, it does not hurt anyone if they don't return those paper that is created from thin air. Those who still return paper money is either too stupid to understand how fiat money works or voluntarily to work for the money printers for free

The most stupidity that an human being can do is to connect the "intelligence" of one speech or something like that of Varoufakis which have as a principal purpose of his life the excessive preoccupation with or admiration of oneself with the intelligence of Satoshi Nakamoto which it has created one of most wonderful invention of century and is so modest as to be disappeared and to not enjoy the deserved merits of its invention.

The narcissism of Varoufakis go over everything and first of all is showed with its behavior with all the European leaders in all they meetings. Even he is a poor debtor. No other merits is known as a foreign minister. But he want world recognition. So must be unique in its words with them. Such he was. For something which a shame for its country. To not get back the money taken from the others.

Satoshi Nakamoto has created something that has passionate all the world and find followers and enthusiast every new day which pass. And yet he remain in silence and in anonymity. Who can imagine the honors that he will and can receive from everyone if will be shown? Yet him remain hidden.

Can everyone who will read this post the stupidity of this comparison?

And then the other shame. The title of "the speech" of Varoufakis with capital letters. The glory of something dirty and shameful. Glory to one people that vote to not give back the money to the owners. Money that made them rich and doing "la bella vita" without working and without doing nothing.

I have no other words for this thread.

Bitcoin exists to end your slavery. Not the kind of slavery where you're working your ass off and getting nothing for it , except whiplashes ofcourse. Well the slavery is more modern due to the current era. Anyway. Bitcoin gives you freedom to use your currency without any further involvement.

It is funny how everyone is silent about Iceland. As you may know couple years ago Iceland was in the same state as greece. They declared bankruptcy and decided that every previous debt is illegal.
Iceland did not paid anything since then and they are happily existing now. Greece could do the same as far as I know.

It is quite complicated higher up there, what he said could mean totally different things, no one can easily understand how such a financial system works based on debt

But one thing is for sure, the world governments are not able to repay the loan due to less and less consumption in post IT era (more and more jobs will be replaced by automation and robots, thus the total spendable income of human will keep going down. They must either borrow more money to pay the debt or seek debt relief

Have you got any insights as to what the shit may be? I'm thinking supermarket shelves being limited under the guise of capital controls affecting imports.

Varoufakis also dislike Bitcoin because deflation and decentralization

Check his blog, he made 2 articles about it.

http://yanisvaroufakis.eu/2014/02/15/bitcoin-a-flawed-currency-blueprint-with-a-potentially-useful-application-for-the-eurozone/
http://yanisvaroufakis.eu/2013/04/22/bitcoin-and-the-dangerous-fantasy-of-apolitical-money/

Varoufakis has been told to leave to make the negotiations with Europe easier, because Lagarde Draghi and friends hate him. So I would stop looking for anything revolutionary or new to happen, we still have a long period of talking pretending and extending until we see some real shit hitting a big fan.