Money printing exploded when BTC was released

jeanne513lefe

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Quote from: thejaytiesto on December 18, 2017, 11:29:10 AM

I was looking at some charts and I just saw this one:

https://pbs.twimg.com/media/DQvftdRUMAEOxfJ.jpg

I mean look at the year... around 2008-2009 Bitcoin was released... suddenly money printing goes full retard creating that massive spike. Why is the media pointing at Bitcoin as a bubble while never talking about that? really makes you think. In my book, Bitcoin is just a counter reaction of that, which is one of the reasons to hold BTC even after such an increase in price. I mean BTC all time chart my look like a bubble, but in the same timeframe, FED printed 2000 billion dollars. BTC is worth 315 billion at the moment. Not taking into account all the trillions out there that could come in.. I mean there's too much money out there, a lot of it sitting on dumb shit which could be sitting on BTC. It's really hard to assess when BTC is or isn't at the top of a bubble with these fundamentals.

You spoke my mind. Honestly, I don't think the world gives the crypto market the respect it deserves. It doesn't make sense that people seem to be ok with money printing leading to unreasonable inflation, but then make a fuss over the Bitcoin price fluctuation. I wouldn't say that everything other than BTC is shitty, just saying we should give it more credit.

IndzheborgC

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From my point of view, bitcoin is not a bubble but a balloon - it is gradually inflated and pulls up new technologies based on blockchain. Its value is too small even now, which would have a significant impact on the fiat currencies.

Mometaskers

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That massive printing spike have more to do with the financial crisis... which shouldn't have happened if the banks were properly regulated. Regardless, they got off scot-free and the burden is simply shifted to the average taxpayer.

Which just shows how the value of fiat really have nothing real to back it up. Well, save for the government's threat of violence.

UsernameBitcoin

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I take this as a sign that Bitcoin truly will take over the global money supply.

Things don't happen randomly, for no reason. Everything happens for a reason.

This money being printed is a sure sign that BTC has value and based on the price rising for the past year more than 10x, I'm also sure people agree with me. Just wait 5-10 more years and BTC will be $1,000,000+.

Hydrogen

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During that 2008-2009 era, there was massive economic slowdown. A lot of people lost their jobs and were laid off. The economic downturn led to reduced tax revenues collected by governments, worldwide. To meet budget projections, I think every state in the entire world increased their fiat printing. This occurred all over the world and the implications and effects are still being felt today.

It is possible the effects of the 2008-2009 economic issues and their long term consequences are a big part of what motivated Satoshi Nakamoto to create bitcoin. Its not a topic that is discussed much today in the media. But during that era, when journalists hands weren't as tied there was a lot of good discussion and a lot of good analysis and breakdowns that a person would never hear about today. Of course, a lot of things published about the 2008-2009 economic issues were lies as well.

But in that era the media was more objective and journalism was still a lot more legitimate and fact based than it is now.

yoseph

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Quote from: thejaytiesto on December 18, 2017, 11:29:10 AM

I was looking at some charts and I just saw this one:

https://pbs.twimg.com/media/DQvftdRUMAEOxfJ.jpg

I mean look at the year... around 2008-2009 Bitcoin was released... suddenly money printing goes full retard creating that massive spike. Why is the media pointing at Bitcoin as a bubble while never talking about that? really makes you think. In my book, Bitcoin is just a counter reaction of that, which is one of the reasons to hold BTC even after such an increase in price. I mean BTC all time chart my look like a bubble, but in the same timeframe, FED printed 2000 billion dollars. BTC is worth 315 billion at the moment. Not taking into account all the trillions out there that could come in.. I mean there's too much money out there, a lot of it sitting on dumb shit which could be sitting on BTC. It's really hard to assess when BTC is or isn't at the top of a bubble with these fundamentals.

The media is not independent as they claim to be, they all belong to various people and bankers who see bitcoin as a serious threat to their business and empire. Whenever the various governments of the world need money, they just print it and then it's the common who suffers.

NUFCrichard

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The reasoning behind Bitcoin and the foundations of its success are the poor monetary policy of the major world economies.
Bitcoin didn't cause the printing of money, but it is no coincidence that Bitcoin came about during this major devaluation of fiat currencies.

It seems like Satoshi was a smart guy, he caught onto what was going on before the masses did. He has also proven humble by never coming forward and ungreedy by leaving his billions of dollars worth of Bitcoin untouched all this time.

Bolt Brownie

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I think that money printing and bitcoin release are not directly related, but instead, they share the same origin. The 2008 crisis originated both things in my opinion, so they do share the same cause and that's why they happened at the same time. Money printing was needed to boost the economy again, and bitcoin was born because people were tired of being caught in economic crisis that they didn't cause. The system was broken, and it was time to try to do something about it.
I hope bitcoin gets mass adoption without the need of another crisis, but if that doesn't happen, I think that as soon as another crisis takes place bitcoin will have a massive boom.

Murloc

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2008 was the year of a huge crisis. It has never been a secret how the US government copes with such problems (ofc by the increase of the monetary base). Everything that you concider as a "dumb shit" is a financial instrument with strong legal basis and already formed rules of the markets. People are juct choosnt the safer way to earn

Dirkson

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The sudden spike is crisis result. Bank and financial institution created bubble on market and it has bursted! So, what should government do? Wait until everything will go worser and worser? There were two variants:
1. Save banks and print money for this purpose
2. Do nothing and wait until the world will burn

As we know, government decided to save banks. Result of their desicion — almost all the banks survived and their mistakes became the problem of usual residents .

tomahawk9

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Quote from: thejaytiesto on December 18, 2017, 11:29:10 AM

I was looking at some charts and I just saw this one:

https://pbs.twimg.com/media/DQvftdRUMAEOxfJ.jpg

I mean look at the year... around 2008-2009 Bitcoin was released... suddenly money printing goes full retard creating that massive spike. Why is the media pointing at Bitcoin as a bubble while never talking about that? really makes you think. In my book, Bitcoin is just a counter reaction of that, which is one of the reasons to hold BTC even after such an increase in price. I mean BTC all time chart my look like a bubble, but in the same timeframe, FED printed 2000 billion dollars. BTC is worth 315 billion at the moment. Not taking into account all the trillions out there that could come in.. I mean there's too much money out there, a lot of it sitting on dumb shit which could be sitting on BTC. It's really hard to assess when BTC is or isn't at the top of a bubble with these fundamentals.

I don't think Bitcoin has something to do with the money printing spike on that chart. Remember that back in 2008 there was a financial crisis in the US that was related to the real-estate market, it was followed by the european debt crisis in 2009. These two events could've caused the sudden spike.

Though, I gotta say that Bitcoin Futures might actually begin a new wave of massive printing of fiat, especially in the US, perhaps not as big like the one we see in that chart. Bitcoin Futures are cash settled, meaning that the banking system can keep their fiat ponzi going amidst the recent growth that Bitcoin is currently experiencing. BTC Futures provides not only provides them with a tool to surpress the price (or control it) but it could possibly put a stop to (or at least delay) the whole "bitcoin replaces fiat" plan that many people have been talking about for years.

audaciousbeing

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Quote from: thejaytiesto on December 18, 2017, 11:29:10 AM

I was looking at some charts and I just saw this one:

https://pbs.twimg.com/media/DQvftdRUMAEOxfJ.jpg

I mean look at the year... around 2008-2009 Bitcoin was released... suddenly money printing goes full retard creating that massive spike. Why is the media pointing at Bitcoin as a bubble while never talking about that? really makes you think. In my book, Bitcoin is just a counter reaction of that, which is one of the reasons to hold BTC even after such an increase in price. I mean BTC all time chart my look like a bubble, but in the same timeframe, FED printed 2000 billion dollars. BTC is worth 315 billion at the moment. Not taking into account all the trillions out there that could come in.. I mean there's too much money out there, a lot of it sitting on dumb shit which could be sitting on BTC. It's really hard to assess when BTC is or isn't at the top of a bubble with these fundamentals.

I would have to deviate that it was because of the emergence of bitcoin that led to the massive printing of bitcoin because at the time, no one knew bitcoin would be what it is today for government to now make such decision because of it. Again, at the time there was a global recession where governments of the world had to come out to bail out the economy especially banks the money must come from somewhere after all and that is one of the reason that led to the emergence of bitcoin itself.

I agree that saying that bitcoin is a bubble and fiat is not, is just a myopic view just that I have maintained is that without the support of government and its agencies in charge of money supply and the management of the economy, the bubble would have shifted somewhere else other than bitcoin.

thejaytiesto

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Quote from: dave111223 on December 18, 2017, 11:35:38 AM

That should be the opposite, unless some people are trying to scam naive people buying their bitcoins with false money

Bitcoin limit is 21 million units no matter what. Fiat limit is... unknown, and as we can see on the graph, totally unpredictable. To bail-in "too big too fail" institutions, the money printing goes insane at any given time, I guess that money printing event was due 2008's crisis. We all know what will happen on the next crisis. I expect another one of these big ass spikes, and BTC price should follow going up.

And yes, the money printing started before BTC was release, but BTC was released around the crisis time, or at least the earlier BTC documents are found still in 2008.

dave111223

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That should be the opposite, unless some people are trying to scam naive people buying their bitcoins with false money

thejaytiesto

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I was looking at some charts and I just saw this one:

https://pbs.twimg.com/media/DQvftdRUMAEOxfJ.jpg

I mean look at the year... around 2008-2009 Bitcoin was released... suddenly money printing goes full retard creating that massive spike. Why is the media pointing at Bitcoin as a bubble while never talking about that? really makes you think. In my book, Bitcoin is just a counter reaction of that, which is one of the reasons to hold BTC even after such an increase in price. I mean BTC all time chart my look like a bubble, but in the same timeframe, FED printed 2000 billion dollars. BTC is worth 315 billion at the moment. Not taking into account all the trillions out there that could come in.. I mean there's too much money out there, a lot of it sitting on dumb shit which could be sitting on BTC. It's really hard to assess when BTC is or isn't at the top of a bubble with these fundamentals.

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