Topic: Scarcity model bullshit. (Read 2704 times)

There's no perfect system.

Interest rates are built into fiat loans to try to make the deal more fair.
Negative interest rates could perhaps be used in bitcoin loans in the future in the same way.

No one's forcing anyone to take a loan or not take a loan.

Or when deflationary currency's are hoarded by the rich making the cost of debts unbearable. Credit and debt are 2 sides of the same coin. Its the same thing seen from different prospective. 

The dollar punishes currency savers and rewards currency borrowers
Bitcoin rewards currency savers and punishes borrowers

Inflation and deflation are both theft the only thing that changes is who is being robbed.

Yeah not much of a speller.

I dont despise bitcoin. It is just a distraction on the road to a new sustainable currency model.  I actually love the bitcoin protocol and I love the blockchain innovation, but the coin itself is garbage for anything other than blackmarket transactions (which is great) and speculation (which is lousy).

The guys in this forum are the people who matter in the world of digital currency. I need to work with you, but first we have to admit that bitcoin doesnt work right and isnt an honest form of money. Then we can look at how to fix it, I dont expect you to be onboard you have a financial interest in seeing bitcoin gain wider adoption.

I am looking for the people who are not selfish trolls only interested in their own financial gain. I am looking for people who want to promote freedom, who want to return the money power to producers, who want to leave the world a better place than they found it, and who want to change the power dynamic, not by replacing it with another top down, centralized, controlled, and manipulated currency like bitcoin, but by working in cooperation with other productive people. The people who create the wealth in the first place.

Just a bunch or wall street wannabees involved in bitcoin.    

Ways bitcoin is like the dollar

Centrally controlled, price is manipulated, neither have a socially objective standard (no standard), you cant say what either is equal to, and both derive their value from being scarce. 

Whats different?   

Wars last only a few months when limited money is used. When the government pumps out unlimited money wars go for years.

Poverty and income inequality is produced when inflated currencies are first given to the haves who then pass the inflation onto the have nots.

They say they stupidest shit...
Bitcoin is just like the DOLLAR!
Do honest people hang around in forums where they openly despise the primary community topic and most of the people?

You don't need to have a doctor's degree to understand money, you don't need to care about M0, M3, GDP, CPI, etc..., just the most simple rule of fair trading: If someone created money out of nothing, are you willing to exchange your goods/services in exchange for this money? I guess the answer is usually a NO

However, if you are a commercial bank, and you know that central bank created money out of nothing, if you could successfully pass those money to general public who don't understand what happened behind the scene, your answer might be YES

Honest and bitcoin shouldnt go next to one another like that. I dont expect to convince the bitcoin zealots and those with large bitcoin holdings. They say they stupidest shit.

Honesty is getting what you payed for. No more no less, your view point of money is the slavery model. The scarcity model for currency is what creates, war, poverty, income inequality. Bitcoin is just like the DOLLAR!  

http://peacefreedomprosperity.com/7776/inability-bitcoin-serve-rational-economic-calculation/
  

OP, please wake up from the slavery dream(Bankers print money and your work), and enjoy the beautiful honest money bitcoin

There are 2 major problems in the traditional money concept:


1. Do we really need price stability?

We all know that value is decided by supply and demand together, and that changes constantly. If the value is changing constantly, why should the price keep constant?


2. Who get the ownership of newly created money

Money is just like any other commodity, should be produced by labor in itself, in order to make the trading fair. If someone created money without doing anything and use that to exchange other's goods/services, what is the reason that others will allow this kind of robery happen?


So, a good money does not create price stability, its value fluctuates, this is due to the fact that the market demand for money is constantly changing. And, a good money must be created by work (have cost close to its face value), to make sure it is always a fair trade when someone sell their goods/services for the money

Even Keynes saw the irony in this quote?
“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”  ~John Maynard Keynes

Keynes was such a great guy. If only his theories were taught in our schools and his theories touted by economists and government agencies.

http://www.moneyasdebt.net/  read the whole proposal.. your concerns are addressed

Hopefully you're aware of the fact that people in their teens, 20's and all ages die unexpectedly or are injured in such a way that they can no longer provide goods or services. The truth is, the inability to service credit would happen all the time in a massive 'abundance' economy, so there would be risk in virtually every single transaction as they are all based on promises of future production. The future, by nature, is unpredictable and full of risk.

This risk is completely eliminated when value is cleared at the moment of transaction as in botcoin rather than a future date as in the abundance model.

Another massive problem with this model is the fact that issues of credit aren't really divisible, which will make liquidity a real problem given that people have a much harder time finding equal value transactions. For example, how does a bread maker trade for a car? Would they be able to give an auto company enough bread vouchers to get the car? Or would they have to trade airline miles, food vouchers, accounting services, and other issues of credit they have amassed through their bread making company just to make it an even deal? Even then, will an auto dealer accept a hodgepodge of credit issued from various producers and vendors that it may never deal with directly?

Or would it be better just to have a standardized transfer of value organizations can choose to accept or reject?

I feel like you're not really thinking the model through very much in terms of practicality.

Mining never stops. Once rewards stop, ppl will mine for fees

what the heck are you blathering about

As far as using electricity, it won't be long before it reaches the limit and can't be mined any longer, hence no more use of electicity

 

You should put all of your money into Euros right now.

With negative interest rates you will be able to enjoy some great inflation.

Yes, now we have alternative in form of cryptos. I just hope they survive long enough.

The Willy report is/was a fascinating look at major fraud. The crime helps remind us how desirable Bitcoins are. That demonstrated BTC value justifies the cost of production and network security.



Yes I certainly do. 

there's probably a reason why shares of index funds aren't used as money, but I don't know what that would be.
Probably because few people are concerned about it.