I think we should be assuming that the big banks and hedge funds are working on an inflationary crypto.
Inflationary altcoins already exist, but I guess big banks are happy with their monopoly on money creation.
Topic: This banker tricks us to do away with deflationary nature of bitcoin! - page 3. (Read 3138 times)
July 16, 2014, 03:23:06 AM
Inflationary altcoins already exist, but I guess big banks are happy with their monopoly on money creation.
July 16, 2014, 03:02:29 AM
This banker from ING first applauds bitcoin , but then says that the flutations are the main hurdle for bitcoin to go mainstream.
In order to get much stability he urges bitcoin developers to develop algorithm which we all love that is to get rid of the 21 million cap and become infinitely inflationary like the Fed's toilet papers.
He lures, a developer to implement this algorithm would even get Nobel prize.
This is sad and bad..this idea has to be stopped right at the very beginning.
http://www.youtube.com/watch?v=79H4CVq__NM#t=20
The fed? Dude! Why the heck are you arguing with it! The fed is always right!In order to get much stability he urges bitcoin developers to develop algorithm which we all love that is to get rid of the 21 million cap and become infinitely inflationary like the Fed's toilet papers.
He lures, a developer to implement this algorithm would even get Nobel prize.
This is sad and bad..this idea has to be stopped right at the very beginning.
http://www.youtube.com/watch?v=79H4CVq__NM#t=20
~~For those of you who can't tell, the above statement is sarcasm~~
Inflation is the last thing we need. In case anyone has looked at Dogecoin, the price has been on a continual downwards spiral since the beginning. I don't want to see BTC dropping from $640 down to $2. Plus the difficulty is so high, mining would cease instantly. There would be NO way to get an ROI with such a high difficulty, and so mining would cease nearly instantly and there would be huge issues.
If the devs listen to him, I'm dropping my BTC holdings into another coin, I'll be so mad I'll just drop it instantly.
There IS no Nobel Prize for this! Why the hell does Dogecoin not have one then! They used this before it was advice, and where is their golden plauqe?
Ignore this wish-wash banker and keep with what we have. Anything else will wreck Bitcoin, wreck cryptos, and allow the Fed to tighten their grip on us. Educate without being to complex!
Well said. Dogecoin was also the first thing that came to my mind when I read OP's post. If he doesn't like the way Bitcoin's protocol works, then he should either launch his own altcoin or use dogecoins instead. The latter seems like the perfect crypto for his needs.
Doge coin is desperately in need of a fix to the protocol. Until then no one outside of the hard core users will take it seriously.
If you mean the infinite 10k rewards, there is nothing to fix, it's a feature.
I believe it was actually supposed to be deflationary in the long term, just like Bitcoin but there was a bug in the code that made it perpetually inflationary. There was quite a bit of discussion during the beginning of this year about whether or not the bug should be fixed, but ultimately it was decided to keep things as is.
July 16, 2014, 02:27:18 AM
Doge coin is desperately in need of a fix to the protocol. Until then no one outside of the hard core users will take it seriously.
If you mean the infinite 10k rewards, there is nothing to fix, it's a feature.
July 16, 2014, 02:06:59 AM
Thankfully the Dogecoin tested this for us and it was a disaster
On the contrary, Dogecoin has been a huge success, with many merchants accepting it only after 7 months of running along with its 'father' Litecoin, and its success is not over yet.
Doge coin is desperately in need of a fix to the protocol. Until then no one outside of the hard core users will take it seriously.
July 16, 2014, 01:46:48 AM
There are altcoins that have those algorithm's it pisses me off that because people know their ideas will fail on their own they insist on hijacking the Bitcoin name and currency itself, trying to take advantage of the success it's had.
July 16, 2014, 01:35:03 AM
Thankfully the Dogecoin tested this for us and it was a disaster
On the contrary, Dogecoin has been a huge success, with many merchants accepting it only after 7 months of running along with its 'father' Litecoin, and its success is not over yet.
July 16, 2014, 01:32:36 AM
Bitcoin was not develop to make banks rich. It might not even existed, if it was not for the greedy bankers, exploiting hard working people, with high interest rates on loans and having them paying huge fees, for things costing them pennies.
Face it... They would rather not see crypto currency succeed, or they want it changed, to dance to their current income model. {Not a inch of their market share are negotiable}
Bitcoin's success is directly linked to their failure and greed.
Face it... They would rather not see crypto currency succeed, or they want it changed, to dance to their current income model. {Not a inch of their market share are negotiable}
Bitcoin's success is directly linked to their failure and greed.
July 16, 2014, 01:25:39 AM
Thankfully the Dogecoin tested this for us and it was a disaster
July 16, 2014, 01:22:25 AM
I would divest immediately if something like this happened. The fact that they are even floating the idea shows they are either coming at it with an angle in mind or they don't know anything about the principles of bit coin. It is probably a combination of both.
July 16, 2014, 12:50:54 AM
Bitcoin is not deflationary, it has a pre-defined rate of inflation, till 2140.
July 16, 2014, 12:41:57 AM
The deflationary thing is a fallacy. We will only have less and less coins being generated until 2140, will be deflationary if and only if people keep interest on bitcoin and keep buying it at the same rate.
We can also end like doge, people losing interest and price falling way more than the increase in the supply of coins can explain.
We can also end like doge, people losing interest and price falling way more than the increase in the supply of coins can explain.
July 16, 2014, 12:28:58 AM
... and the youtube video still has 2 upvotes 
His mom and dad have internet too?
July 16, 2014, 12:22:43 AM
... and the youtube video still has 2 upvotes
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
July 15, 2014, 09:50:21 PM
dont worry, even a Bitcoin doofus can see through the lies of the Banksters.
What he is proposing is antithical to its core principles.
What he is proposing is antithical to its core principles.
July 15, 2014, 09:29:47 PM
I think we should be assuming that the big banks and hedge funds are working on an inflationary crypto.
July 15, 2014, 09:18:33 PM
A banker talking about bitcoin. I'm sure there's no conflict of interest or any agenda. *cough*
Message to those with broken or poor sarcasm detectors: there is sarcasm in this post.
Message to those with broken or poor sarcasm detectors: there is sarcasm in this post.
July 15, 2014, 09:12:03 PM
This banker from ING first applauds bitcoin , but then says that the flutations are the main hurdle for bitcoin to go mainstream.
In order to get much stability he urges bitcoin developers to develop algorithm which we all love that is to get rid of the 21 million cap and become infinitely inflationary like the Fed's toilet papers.
He lures, a developer to implement this algorithm would even get Nobel prize.
This is sad and bad..this idea has to be stopped right at the very beginning.
http://www.youtube.com/watch?v=79H4CVq__NM#t=20
The fed? Dude! Why the heck are you arguing with it! The fed is always right!In order to get much stability he urges bitcoin developers to develop algorithm which we all love that is to get rid of the 21 million cap and become infinitely inflationary like the Fed's toilet papers.
He lures, a developer to implement this algorithm would even get Nobel prize.
This is sad and bad..this idea has to be stopped right at the very beginning.
http://www.youtube.com/watch?v=79H4CVq__NM#t=20
~~For those of you who can't tell, the above statement is sarcasm~~
Inflation is the last thing we need. In case anyone has looked at Dogecoin, the price has been on a continual downwards spiral since the beginning. I don't want to see BTC dropping from $640 down to $2. Plus the difficulty is so high, mining would cease instantly. There would be NO way to get an ROI with such a high difficulty, and so mining would cease nearly instantly and there would be huge issues.
If the devs listen to him, I'm dropping my BTC holdings into another coin, I'll be so mad I'll just drop it instantly.
There IS no Nobel Prize for this! Why the hell does Dogecoin not have one then! They used this before it was advice, and where is their golden plauqe?
Ignore this wish-wash banker and keep with what we have. Anything else will wreck Bitcoin, wreck cryptos, and allow the Fed to tighten their grip on us. Educate without being to complex!
July 15, 2014, 08:45:14 PM
This banker from ING first applauds bitcoin , but then says that the flutations are the main hurdle for bitcoin to go mainstream.
In order to get much stability he urges bitcoin developers to develop algorithm to get rid of the thing we love most, that is the 21 million cap and become infinitely inflationary like the Fed's toilet papers.
He lures, a developer to implement this algorithm would even get Nobel prize.
This is sad and bad..this idea has to be stopped right at the very beginning.
http://www.youtube.com/watch?v=79H4CVq__NM#t=20
In order to get much stability he urges bitcoin developers to develop algorithm to get rid of the thing we love most, that is the 21 million cap and become infinitely inflationary like the Fed's toilet papers.
He lures, a developer to implement this algorithm would even get Nobel prize.
This is sad and bad..this idea has to be stopped right at the very beginning.
http://www.youtube.com/watch?v=79H4CVq__NM#t=20
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