This "news" article about printing money is scary.

NotLambchop

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Quote from: H.W.Z on November 01, 2014, 08:23:04 AM

I think printing money is the last resolution the gov chooses to get away from the economic crisis. The pros and cos should be balanced. QE was adopted by fed to booster economy from the 2008 deep economic crisis. Do you see the result that the dollar are losing value?

The USD is doing better than most currencies, and most certainly better than BTC, which has lost more than half of its value vs. USD in less than a year.

BitmoreCoin

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Quote from: Yeah? on November 03, 2014, 06:05:42 AM

Quote from: BitmoreCoin on November 03, 2014, 05:39:37 AM

Quote from: NiceSoft12 on November 02, 2014, 03:50:59 PM

The fact that money is spewing out of printing factories and bitcoin is still going down, shows how much of a bubble(s) bitcoin was.

BTC is a small bubble compared to fiat.

Is it? Depends by what you mean by small? Fiat money can pop and burst if they just keep pumping it out, but bitcoin has lost half of it's value over the course of a year whereas fiat looses it more over time. Bitcoin sadly isn't an ideal currency at the moment, but obviously neither is fiat.

If you look back in 3-5 years time, you might find it is a good time to buy now. Who knows.

Yeah?

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Quote from: BitmoreCoin on November 03, 2014, 05:39:37 AM

Quote from: NiceSoft12 on November 02, 2014, 03:50:59 PM

The fact that money is spewing out of printing factories and bitcoin is still going down, shows how much of a bubble(s) bitcoin was.

BTC is a small bubble compared to fiat.

Is it? Depends by what you mean by small? Fiat money can pop and burst if they just keep pumping it out, but bitcoin has lost half of it's value over the course of a year whereas fiat looses it more over time. Bitcoin sadly isn't an ideal currency at the moment, but obviously neither is fiat.

BitmoreCoin

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Quote from: NiceSoft12 on November 02, 2014, 03:50:59 PM

The fact that money is spewing out of printing factories and bitcoin is still going down, shows how much of a bubble(s) bitcoin was.

BTC is a small bubble compared to fiat.

shawshankinmate37927

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Bitcoin: The People's Bailout

Quote from: worle1bm on November 02, 2014, 12:15:44 PM

Quote from: shawshankinmate37927 on November 02, 2014, 05:57:06 AM

Fiat monetary units only have value because people that produce goods and provide services are willing to accept them. If or when productive people stop accepting them, they won't be worth anything.

Is there any evidence this is going to happen at any point in the future?

Economics is a "social science" as opposed to a natural science, so there is no way to provide empirical evidence of what will happen in the future. In other words, economics is a science of human behavior. Generally speaking, people tend to choose a course of action that is most beneficial to them and soumd, honest money is more beneficial to the average person over the long term.

NiceSoft12

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The fact that money is spewing out of printing factories and bitcoin is still going down, shows how much of a bubble(s) bitcoin was.

worle1bm

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Quote from: shawshankinmate37927 on November 02, 2014, 05:57:06 AM

Fiat monetary units only have value because people that produce goods and provide services are willing to accept them. If or when productive people stop accepting them, they won't be worth anything.

Is there any evidence this is going to happen at any point in the future?

transient858

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Competitive devaluation is a weapon for exporting countries to kill foreign competitors.

Beyonce

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Surfbort.

Quote from: Pepin on November 01, 2014, 04:20:20 AM

I still can't believe that people think it is a good idea for the government to print money to boost the economy. I just can't wrap my head around on how people can think it can have any sort of long-term benefit.

It's not a good idea, but it's a corrupt system run by corrupt people, of course this is the way they'd want it. Who wouldn't want to print their own money?

shawshankinmate37927

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Bitcoin: The People's Bailout

Quote from: worle1bm on November 02, 2014, 01:47:14 AM

Quote from: johnyj on November 01, 2014, 11:16:35 PM

Central banks can still print money to stimulate economy, because majority of the people still believe that those printed money worth something, and they are satisfied to get a job while the money printer bought billions of assets in the process

You mean like getting paid in dollars and then going to a store to buy things with dollars because they are, in practice, worth something? Of course they are worth something, that's the point. What are you talking about?

Fiat monetary units only have value because people that produce goods and provide services are willing to accept them. If or when productive people stop accepting them, they won't be worth anything.

worle1bm

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Quote from: johnyj on November 01, 2014, 11:16:35 PM

Central banks can still print money to stimulate economy, because majority of the people still believe that those printed money worth something, and they are satisfied to get a job while the money printer bought billions of assets in the process

You mean like getting paid in dollars and then going to a store to buy things with dollars because they are, in practice, worth something? Of course they are worth something, that's the point. What are you talking about?

johnyj

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Beyond Imagination

Central banks can still print money to stimulate economy, because majority of the people still believe that those printed money worth something, and they are satisfied to get a job while the money printer bought billions of assets in the process

If one day people start to distrust those money and use other money like gold or bitcoin, then all those fiat money in the hand of rich will pour out like sea water and lose its value quickly. But with current monopoly situation, that will not happen until people's financial knowledge greatly improve, which might take 2-5 years

thejaytiesto

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If the printed money went to regular people so they could consume it would contribute back to the economy. The problem is when you print more money but people still remain poor. It's a big ponzi.

bitdraw

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the problem isnt printing money, the problem is distributing the money so it actually gets used to stimulate real economic development (not a giant betting game like wall streeet where only a few profit) and thats the process where the central banks totally fail, knowingly or not.

H.W.Z

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I think printing money is the last resolution the gov chooses to get away from the economic crisis. The pros and cos should be balanced. QE was adopted by fed to booster economy from the 2008 deep economic crisis. Do you see the result that the dollar are losing value?

sandykho47

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Knowledge its everything

It's okay if the government give the money to me Grin

But, it can make big inflation Huh

They never seen how zimbabwe got hyper-inflation ?

Q7

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When the entity is in a huge mess, sorry to say this is the only way out. The bulk of money ended up with the already rich and the poor get peanuts.

Pepin

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http://www.vox.com/2014/10/31/7137041/japan-monetary-policy

I still can't believe that people think it is a good idea for the government to print money to boost the economy. I just can't wrap my head around on how people can think it can have any sort of long-term benefit. Even the short term benefits always end up falling far short, with a few profiting greatly while most people end up getting screwed. Sometimes when I have doubts about the future of Bitcoin or crypto-currency in general, reading some crap like this really reminds me of the importance of a currency that is beyond the ability of governments or individuals to manipulate.

Topic: This "news" article about printing money is scary. (Read 1643 times)