- I go to the farmers' market. They take dollars, not bitcoins.
- I go to work. They give me dollars, not bitcoins.
Topic: Let's compare USD and BTC - page 3. (Read 3977 times)
Well, for one, the US dollar is a liability. In the dollar's case, it's a liability of the Federal Reserve System. Euros are a liability of the ECB. Yen are liabilities of the Bank of Japan etc. You can actually see the liability-nature of the dollar by looking at the Fed's balance sheet:
http://www.federalreserve.gov/releases/h41/current/
Note that the Fed has got 1.136 trillion in outstanding currency liabilities.
Bitcoin, on the other hand, is not a liability of any institution.
http://www.federalreserve.gov/releases/h41/current/
Note that the Fed has got 1.136 trillion in outstanding currency liabilities.
Bitcoin, on the other hand, is not a liability of any institution.
This is very true, FED owns those printed money, if they do not own it, they can not use it to buy bonds and claim the ownership of those things
But they own these money not for any personal reason, they use these money to adjust the money flow of the whole society: When there is a shortage of money, they create more by buying assets; when there is too much money, they get the money back to their account buy selling assets
Of course in this process, commercial banks and institutions always get the benefit, FED's money do not translate into each people's income directly, but first increase the income for banks and then banks' big customer and so on...
Well, for one, the US dollar is a liability. In the dollar's case, it's a liability of the Federal Reserve System. Euros are a liability of the ECB. Yen are liabilities of the Bank of Japan etc. You can actually see the liability-nature of the dollar by looking at the Fed's balance sheet:
http://www.federalreserve.gov/releases/h41/current/
Note that the Fed has got 1.136 trillion in outstanding currency liabilities.
Bitcoin, on the other hand, is not a liability of any institution.
http://www.federalreserve.gov/releases/h41/current/
Note that the Fed has got 1.136 trillion in outstanding currency liabilities.
Bitcoin, on the other hand, is not a liability of any institution.
The two are so different it isn't even worth debating about.
The official lending rate from FED is almost 0, but the lending rate from banks are still very high
The FED owns 60% of American's government debt.
OP I think you are mainly trolling here and that's why I don't really see a point in trying to explain it to you. Basically I think that it will take the actual empirical end result of this experiment to shut people like you up that's why all we need to answer your questions is time.
Facts and reasoning, no personal attack please
FED print money as will, but ultimately they try to achieve two goal: Price stability and low unemployment rate. It's very simple: If there are enough money out there, everyone will be easy to find a work, but if there are too much money out there, there will be inflation
Not exactly, you should watch this thread:
https://bitcointalksearch.org/topic/money-as-debt-from-paul-grignon-118681
BTC is fixed constant money supply, could it finally achieve these two goal? Or, it can achieve something that USD today are not able to achieve?
I think saving definitely is one of BTC's strength, but seems it can not help to improve the unemployment and price stability, it shines when the economy goes strong, but do not give much help when economy is weak
I think saving definitely is one of BTC's strength, but seems it can not help to improve the unemployment and price stability, it shines when the economy goes strong, but do not give much help when economy is weak
Bitcoin price can and will get stability when it will be used in a larger scale.
I do not see debt as a problem, it is just a conversion on the value of time, but the commercial banks take too much benefit from FED's money, that is a problem. The official lending rate from FED is almost 0, but the lending rate from banks are still very high
USD value basically quite stable (less than 10% variance in one year), but the amount of USD supply almost increased 4 times during recent years. In same situation, if the amount of BTC supply kept unchanged, then the value of BTC would have to increase by 400%
Bitcoin price can and will get stability when it will be used in a larger scale.
More like 'if' mirite?
OP I think you are mainly trolling here and that's why I don't really see a point in trying to explain it to you. Basically I think that it will take the actual empirical end result of this experiment to shut people like you up that's why all we need to answer your questions is time.
FED print money as will, but ultimately they try to achieve two goal: Price stability and low unemployment rate. It's very simple: If there are enough money out there, everyone will be easy to find a work, but if there are too much money out there, there will be inflation
Not exactly, you should watch this thread:
https://bitcointalksearch.org/topic/money-as-debt-from-paul-grignon-118681
BTC is fixed constant money supply, could it finally achieve these two goal? Or, it can achieve something that USD today are not able to achieve?
I think saving definitely is one of BTC's strength, but seems it can not help to improve the unemployment and price stability, it shines when the economy goes strong, but do not give much help when economy is weak
I think saving definitely is one of BTC's strength, but seems it can not help to improve the unemployment and price stability, it shines when the economy goes strong, but do not give much help when economy is weak
Bitcoin price can and will get stability when it will be used in a larger scale.
FED print money as will, but ultimately they try to achieve two goal: Price stability and low unemployment rate. It's very simple: If there are enough money out there, everyone will be easy to find a work, but if there are too much money out there, there will be inflation
BTC is fixed constant money supply, could it finally achieve these two goal? Or, it can achieve something that USD today are not able to achieve?
I think saving definitely is one of BTC's strength, but seems it can not help to improve the unemployment and price stability, it shines when the economy goes strong, but do not give much help when economy is weak
Any more idea?
BTC is fixed constant money supply, could it finally achieve these two goal? Or, it can achieve something that USD today are not able to achieve?
I think saving definitely is one of BTC's strength, but seems it can not help to improve the unemployment and price stability, it shines when the economy goes strong, but do not give much help when economy is weak
Any more idea?
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