If we can see a country with 'Bitocin standard' monetary system - page 5.

yarlungzangbo

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Quote from: 1Referee on November 27, 2019, 05:22:21 AM

Quote from: yarlungzangbo on November 27, 2019, 01:07:03 AM

Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'.

If you rely on a central entity to validate transactions and whatnot, you technically don't really know what chain you are dealing with. You just think/hope that they are being honest, which they most of the times are, but please, you shouldn't take that for granted. It only takes one mistake or purposeful scam on their end that will cost you a lot of money.

Only when you run a full node you can be sure to seperate fake from real, which is why I find it so important that people run their own node despite the fact that I know most people will not do that.

In the end, Bitcoin isn't a magical save the world or country pill. If the monetary policies suck, the same corrupt political leaders are in charge, etc the standard they use doesn't really matter because they will screw up eventually anyway. I'm perfectly fine to have Bitcoin be an alternative money similar to Gold. People can adopt Bitcoin right now already. No need to wait for any government to introduce a Gold or Bitcoin standard. Screw them.

Yes, sir. You have a clear understanding of things, what did you say is nice. No goverment will survice in the end, but 'Bitcoin standard‘ is the thing need to do at this time. We don't believe in goverment , but we believe in bitcoin and we know 'the code is law'. No worry about the lie, i believe that the world will have the final answer in the disordered evolution

yarlungzangbo

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Activity: 126

Merit: 12

Quote from: Getmon on November 27, 2019, 05:38:57 AM

Quote from: yarlungzangbo on November 27, 2019, 01:07:03 AM

You can imaging that if some 'third world countries' become a 'Bitcoin standard' monetray system , and show the Bitcoin savings address, what will happen?

But that Bitcoin standard will also include the freedom to fork or to split from the original coin. I guess this will become a bigger problem when it is tied to a government than when it is tied to the like of an independent and ownerless Bitcoin. If a third world country will adopt the Bitcoin standard in its monetary system, I am seeing a very high probability that there will be so many forks and so many forks coming from those forks themselves that will happen. The government is full of disagreement. Partisan politics will make everything murky. The Bitcoin standard is good within Bitcoin itself.

We don't need to worry about the 'fork chain' , there is only one real bitcoin, all other fork chain will go to recession , and we can see only one chain to be the 'Final winner' and it is the real bitcoin . If someone want to do something different with bitcoin want to do , he will lose

yarlungzangbo

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Activity: 126

Merit: 12

Quote from: jseverson on November 27, 2019, 07:08:16 AM

Quote from: yarlungzangbo on November 27, 2019, 01:07:03 AM

Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'. These country need to save x bitcoin to issue their monet, they will have a healty economics system, the other countries will happy to keep their money and want to trade will them.
People won't be afraid of inflation , and the prices will not going high in a long cycle times.

If its only advantage over the gold standard is greater transparency and resistance to counterfeiting, I don't see how it could work; the reasons why gold standard was abolished had nothing to do with these factors after all.

I know deflation sounds good on paper, but the reality is that it discourages spending, which drives prices down, which drives businesses out of business, which causes economic collapse. It's not something you would want out of your national currency, or at least not in this modern economy. If you want to escape inflation, you can easily diversify with assets like Bitcoin; there's no need to base your national currency around them.

The fact is consumption makeing economic growth is a paradox.The lower price will make more consumption.If you believe in Bitcoin you should know what did Hayek said but not traditional economy knowledge.Our world is full of goverment's lie now

Shimmiry

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Quote from: jseverson on November 27, 2019, 07:08:16 AM

Quote from: yarlungzangbo on November 27, 2019, 01:07:03 AM

Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'. These country need to save x bitcoin to issue their monet, they will have a healty economics system, the other countries will happy to keep their money and want to trade will them.
People won't be afraid of inflation , and the prices will not going high in a long cycle times.

If its only advantage over the gold standard is greater transparency and resistance to counterfeiting, I don't see how it could work; the reasons why gold standard was abolished had nothing to do with these factors after all.

I know deflation sounds good on paper, but the reality is that it discourages spending, which drives prices down, which drives businesses out of business, which causes economic collapse. It's not something you would want out of your national currency, or at least not in this modern economy. If you want to escape inflation, you can easily diversify with assets like Bitcoin; there's no need to base your national currency around them.

Today some countries accept the use of bitcoin because they think it helps a lot to improve the transaction and lessen the paper money or the real money. Those are the reasons why people commit crimes because of the greed of too much wealth commonly for cash. Even you have online money. Still, some people are knowledgable in hacking that may steal your data.

Accepting bitcoin and another cryptocurrency may help a lot to have a faster process. It also affects the market price on the crypto because if the coins are demand in different countries. The price may grow up and avoid deflation in the market.

jseverson

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Quote from: yarlungzangbo on November 27, 2019, 01:07:03 AM

Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'. These country need to save x bitcoin to issue their monet, they will have a healty economics system, the other countries will happy to keep their money and want to trade will them.
People won't be afraid of inflation , and the prices will not going high in a long cycle times.

If its only advantage over the gold standard is greater transparency and resistance to counterfeiting, I don't see how it could work; the reasons why gold standard was abolished had nothing to do with these factors after all.

I know deflation sounds good on paper, but the reality is that it discourages spending, which drives prices down, which drives businesses out of business, which causes economic collapse. It's not something you would want out of your national currency, or at least not in this modern economy. If you want to escape inflation, you can easily diversify with assets like Bitcoin; there's no need to base your national currency around them.

boris singer

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Quote from: Getmon on November 27, 2019, 05:38:57 AM

But that Bitcoin standard will also include the freedom to fork or to split from the original coin. I guess this will become a bigger problem when it is tied to a government than when it is tied to the like of an independent and ownerless Bitcoin. If a third world country will adopt the Bitcoin standard in its monetary system, I am seeing a very high probability that there will be so many forks and so many forks coming from those forks themselves that will happen. The government is full of disagreement. Partisan politics will make everything murky. The Bitcoin standard is good within Bitcoin itself.

If the MoU is final and legally binding, then there will be no more disputes over forking and consensus. geopolitics cannot change the economic policies they have agreed to become regulations.

My mind is more towards multilateral relations, will they still be trusted to work together in every economic relationship? I think it will be similar to Venezuela.

alyssa85

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It would work for a small rich tax haven like the Cayman Islands, which currently uses the dollar as their currency (even though they arn't part of the united states).

For these small countries having their own currency is out of the question, and because they are tax havens, they need a SOUND currency. So yes, if the dollar is in trouble, I can see these tax havens switch to bitcoin.

teosanru

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The problem is same which occurred with the bitcoin standard System. There will be a maximum capping on how much currency can be created in one go to boost up a financial system going through recession. Government initiated this fiat only to overcome this shortcomings that they suffer. Moreover, third world countries are developing and in some cases they require large funds of money in the economy as they have higher economic growth rates so this makes it even more important for them to stay on fiat.

Getmon

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Quote from: yarlungzangbo on November 27, 2019, 01:07:03 AM

You can imaging that if some 'third world countries' become a 'Bitcoin standard' monetray system , and show the Bitcoin savings address, what will happen?

But that Bitcoin standard will also include the freedom to fork or to split from the original coin. I guess this will become a bigger problem when it is tied to a government than when it is tied to the like of an independent and ownerless Bitcoin. If a third world country will adopt the Bitcoin standard in its monetary system, I am seeing a very high probability that there will be so many forks and so many forks coming from those forks themselves that will happen. The government is full of disagreement. Partisan politics will make everything murky. The Bitcoin standard is good within Bitcoin itself.

1Referee

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Quote from: yarlungzangbo on November 27, 2019, 01:07:03 AM

Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'.

If you rely on a central entity to validate transactions and whatnot, you technically don't really know what chain you are dealing with. You just think/hope that they are being honest, which they most of the times are, but please, you shouldn't take that for granted. It only takes one mistake or purposeful scam on their end that will cost you a lot of money.

Only when you run a full node you can be sure to seperate fake from real, which is why I find it so important that people run their own node despite the fact that I know most people will not do that.

In the end, Bitcoin isn't a magical save the world or country pill. If the monetary policies suck, the same corrupt political leaders are in charge, etc the standard they use doesn't really matter because they will screw up eventually anyway. I'm perfectly fine to have Bitcoin be an alternative money similar to Gold. People can adopt Bitcoin right now already. No need to wait for any government to introduce a Gold or Bitcoin standard. Screw them.

yarlungzangbo

copper member

Activity: 126

Merit: 12

From the America history we can know that America was a Deflation economic system . At that time USD was maintain and the prices was keeping a low average. This why we need a 'something standard' monetary system but not a credit credentials paper.

You can imaging that if some 'third world countries' become a 'Bitcoin standard' monetary system , and show the Bitcoin savings address, what will happen?

Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'. These country need to save x bitcoin to issue their monet, they will have a healty economics system, the other countries will happy to keep their money and want to trade will them.
People won't be afraid of inflation , and the prices will not go high in a long cycle times.

- credible
✔ transparency
✔ No money 'printing'
✔ low-level of prices
x low-interest rate

quote: America was a Deflation economic system in about 150years till 1913, and it was the most fast period of enconomy rising in human history.

Topic: If we can see a country with 'Bitocin standard' monetary system - page 5. (Read 863 times)