TIME TO BUY - page 3. | Bitcointalksearch.org

NotLambchop

sr. member

Activity: 378

Merit: 254

I know you have daddy issues with the FED, but I simply used it to illustrate why mining more BTC makes the BTC you hold worth less.
We can also infer from this that lowering the total of BTC mined (printed) would reduce the supply of BTC on exchanges, thus twerking the supply/demand equation just right & making the coin you hold be worth more.

But you can't do that, because predefined, like clockwork, like a V1 rocket. Nothing can be done Sad

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

Quote from: ChuckBuck on December 26, 2014, 03:40:36 PM

Quote from: Wandererfromthenorth on December 26, 2014, 03:14:14 PM

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

Not fact. Traditional monetary policy that applies to regular currency's like the US dollar does not apply to Bitcoin.

That's the whole reason Bitcoin was created was to go against the grain. The decentralization, the finite supply, the low transaction fees, etc etc.

Read this first before posting:

https://bitcoin.org/bitcoin.pdf

Math is not an opinion. I am just talking about the increase in supply. Whether by coins mined, Fed printing or whatever it's still an increase in the monetary base (and it has obvious effects on price), period.
Currently, and for a long time, BTC money supply will grow in a year more than the money supply of USD, period.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: ChuckBuck on December 26, 2014, 03:44:02 PM

Quote from: NotLambchop on December 26, 2014, 03:41:39 PM

Quote from: ChuckBuck on December 26, 2014, 03:30:45 PM

Quote from: NotLambchop on December 26, 2014, 03:02:55 PM

...
And you still haven't answered my question.
The question remains the same: Why doesn't the FED print money faster? Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man Angry

Theoretically if the Fed prints more money, it will devalue the US dollar ...

There! Finally! There's hope for you yet.
Do you still need me to answer your question, or have you spotted some similarities & actually learned something today?

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

...
But what would the number of coins mined per day have to do with the declining price?
...

The fed already devalues the dollar whether it prints money or not:

I don't want to side with Lambtroll here but you seem kind of confused... the dollar is being devalued BECAUSE the FED is printing money

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: NotLambchop on December 26, 2014, 03:41:39 PM

Quote from: ChuckBuck on December 26, 2014, 03:30:45 PM

Quote from: NotLambchop on December 26, 2014, 03:02:55 PM

...
And you still haven't answered my question.
The question remains the same: Why doesn't the FED print money faster? Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man Angry

Theoretically if the Fed prints more money, it will devalue the US dollar ...

There! Finally! There's hope for you yet.
Do you still need me to answer your question, or have you spotted some similarities & actually learned something today?

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

...
But what would the number of coins mined per day have to do with the declining price?
...

The fed already devalues the dollar whether it prints money or not:

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: ChuckBuck on December 26, 2014, 03:30:45 PM

Quote from: NotLambchop on December 26, 2014, 03:02:55 PM

...
And you still haven't answered my question.
The question remains the same: Why doesn't the FED print money faster? Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man Angry

Theoretically if the Fed prints more money, it will devalue the US dollar ...

There! Finally! There's hope for you yet.
Do you still need me to answer your question, or have you spotted some similarities & actually learned something today?

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

...
But what would the number of coins mined per day have to do with the declining price?
...

[spoiler]the number of coins mined is analogous to the amount of USD "printed"--they both do the same thing: debase money[/spoiler]

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: Wandererfromthenorth on December 26, 2014, 03:14:14 PM

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

Not fact. Traditional monetary policy that applies to regular currency's like the US dollar does not apply to Bitcoin.

That's the whole reason Bitcoin was created was to go against the grain. The decentralization, the finite supply, the low transaction fees, etc etc.

Read this first before posting:

https://bitcoin.org/bitcoin.pdf

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: NotLambchop on December 26, 2014, 03:02:55 PM

Quote from: ChuckBuck on December 26, 2014, 02:44:37 PM

Quote from: NotLambchop on December 26, 2014, 02:34:13 PM

Let's try this again, with text effects:

Quote from: NotLambchop on December 26, 2014, 02:24:26 PM

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube Angry

That question again:

Quote

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience Angry

Uhmmmm....Devalue the dollar? Fed is a corrupt criminal organization not backed by gold, not tied to any entity, only tied to guns and tanks of the US military, since the Government (which doesn't control the Fed), NEEDS this precious fiat to wage more wars.

Here's an article from a reputable site you might recognize more:

http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/2/

They sure as hell ain't in it to help us. The more they print, the more devalued the US Dollar becomes, the more the US deficit grows, the more of that debt is passed onto us. Bitcoin doesn't get "printed" more, it actually inversely decreases in amount over time, until the max 21 million BTCs is met.

Thanks for proving my point! Cheesy

And you still haven't answered my question.
The question remains the same: Why doesn't the FED print money faster? Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man Angry

Theoretically if the Fed prints more money, it will devalue the US dollar, but I already posted the link above that the Fed devalues the US dollar no matter if it prints more, borrows more, raise rates, lower rates. Doesn't matter the US Dollar will devalue due to the Fed as we speak:

You should've gotten a PS4 instead! Cool

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

Monetary inflation of BTC is currently higher than the monetary inflation of the USD (and it will be for quite some time).
That is a fact. Not much to discuss here guize...
It ain't an opinion yo.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: inca on December 26, 2014, 02:51:19 PM

...
Using the USD to demonstrate inflation and infer bitcoin is bad, when bitcoin has exponentially reducing inflation is a bit of a stretch even for trollchop!

The point is Bitcoin's money supply is increasing at ~14%/year now, and not enough new money is coming in to support the price.
The USD supply, on the other hand, is adjusted by real live people--that's why BTC has lost over 60% of its buying power in the past year.
This is so obvious! If it was a snake, it would'a bit ya Angry

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: ChuckBuck on December 26, 2014, 02:44:37 PM

Quote from: NotLambchop on December 26, 2014, 02:34:13 PM

Let's try this again, with text effects:

Quote from: NotLambchop on December 26, 2014, 02:24:26 PM

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube Angry

That question again:

Quote

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience Angry

Uhmmmm....Devalue the dollar? Fed is a corrupt criminal organization not backed by gold, not tied to any entity, only tied to guns and tanks of the US military, since the Government (which doesn't control the Fed), NEEDS this precious fiat to wage more wars.

Here's an article from a reputable site you might recognize more:

http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/2/

They sure as hell ain't in it to help us. The more they print, the more devalued the US Dollar becomes, the more the US deficit grows, the more of that debt is passed onto us. Bitcoin doesn't get "printed" more, it actually inversely decreases in amount over time, until the max 21 million BTCs is met.

Thanks for proving my point! Cheesy

And you still haven't answered my question.
The question remains the same: Why doesn't the FED print money faster? Printing presses worn out & need a rebuild?
Regardless of how you feel about the FED (Satan's pad), who controls it (the Jews!), the US deficit (BRB, moving to Somalia!), or any of those fun topics, answer the question.
Or no more XBox for you, young man Angry

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

Quote from: inca on December 26, 2014, 01:19:04 PM

How much was the block reward 2 years ago? How high was bitcoin inflation 2 years ago? Did bitcoin manage to maintain the exchange price?

Huh

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

But what would the number of coins mined per day have to do with the declining price?

It didn't really matter when it changed from 50 BTC halving to 25 BTC. Traders will trade, programmers will program. Price is a market condition, not a development condition.

Quote from: brg444 on December 26, 2014, 01:58:32 PM

Fantastic attempt to deviate from the obvious fallacy in your argument.

The block reward was twice as high 2 years ago yet Bitcoin managed to survive.

Can you explain Huh

Do you guys realise that when BTC price was at less than $1 for example the coins mined a day were double what they are today, yes, but the amount of fiat they were valued at was ridiculously smaller (and so a lot less of new money coming in was needed to pump the price)?
At $1-$10 for example the market cap was so tiny that it could be easily pumped by a few millionaires. Inflation was more than 10% yes, but it didn't matter since the amount of money that needed to come in to sustain or increase the price considering the coins mined every day was infinitely smaller.

Today we have 3600 BTC mined every single day. That's 1.1M USD of new supply created every single day. EVERY SINGLE FUCKING DAY.
If price goes to $660 (that a few months back seemed dirt cheap for the perma-bulls) that amount of USD value doubles, etc.

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

But what would the number of coins mined per day have to do with the declining price?

Are you serious?

inca

legendary

Activity: 1176

Merit: 1000

Quote from: ChuckBuck on December 26, 2014, 02:44:37 PM

Quote from: NotLambchop on December 26, 2014, 02:34:13 PM

Let's try this again, with text effects:

Quote from: NotLambchop on December 26, 2014, 02:24:26 PM

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube Angry

That question again:

Quote

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience Angry

Uhmmmm....Devalue the dollar? Fed is a corrupt criminal organization not backed by gold, not tied to any entity, only tied to guns and tanks of the US military, since the Government (which doesn't control the Fed), NEEDS this precious fiat to wage more wars.

Here's an article from a reputable site you might recognize more:

http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/2/

They sure as hell ain't in it to help us. The more they print, the more devalued the US Dollar becomes, the more the US deficit grows, the more of that debt is passed onto us. Bitcoin doesn't get "printed" more, it actually inversely decreases in amount over time, until the max 21 million BTCs is met.

Thanks for proving my point! Cheesy

Using the USD to demonstrate inflation and infer bitcoin is bad, when bitcoin has exponentially reducing inflation is a bit of a stretch even for trollchop!

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: NotLambchop on December 26, 2014, 02:34:13 PM

Let's try this again, with text effects:

Quote from: NotLambchop on December 26, 2014, 02:24:26 PM

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube Angry

That question again:

Quote

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience Angry

Uhmmmm....Devalue the dollar? Fed is a corrupt criminal organization not backed by gold, not tied to any entity, only tied to guns and tanks of the US military, since the Government (which doesn't control the Fed), NEEDS this precious fiat to wage more wars.

Here's an article from a reputable site you might recognize more:

http://www.forbes.com/sites/charleskadlec/2012/02/06/the-federal-reserves-explicit-goal-devalue-the-dollar-33/2/

They sure as hell ain't in it to help us. The more they print, the more devalued the US Dollar becomes, the more the US deficit grows, the more of that debt is passed onto us. Bitcoin doesn't get "printed" more, it actually inversely decreases in amount over time, until the max 21 million BTCs is met.

Thanks for proving my point! Cheesy

NotLambchop

sr. member

Activity: 378

Merit: 254

Let's try this again, with text effects:

Quote from: NotLambchop on December 26, 2014, 02:24:26 PM

...
I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube Angry

That question again:

Quote

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

I do try to make it fun for you, but you're beginning to try my patience Angry

inca

legendary

Activity: 1176

Merit: 1000

Quote from: NotLambchop on December 26, 2014, 02:24:26 PM

Quote from: ChuckBuck on December 26, 2014, 02:19:44 PM

Quote from: NotLambchop on December 26, 2014, 02:06:39 PM

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

Ai yi yi! Now you backed yourself in the corner. You shouldn't have mentioned the Federal Reserve.

The Fed has nothing to do with the government, is a private entity, a Central banking cartel that prints "continuous debt" dollars at will.
...

Who said anything about the government?

I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

The reason you are here posting 20 times a day is because you love bitcoin. You sold way too soon and are desperate to get back in. I say get back in, of course you already are in, given you revealed previously you a) don't trade and b) hold bitcoin.

The only remaining question we have is, what price do you buy in, do a fewcoins and change your tune?

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: NotLambchop on December 26, 2014, 02:24:26 PM

Quote from: ChuckBuck on December 26, 2014, 02:19:44 PM

Quote from: NotLambchop on December 26, 2014, 02:06:39 PM

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

Ai yi yi! Now you backed yourself in the corner. You shouldn't have mentioned the Federal Reserve.

The Fed has nothing to do with the government, is a private entity, a Central banking cartel that prints "continuous debt" dollars at will.
...

Who said anything about the government?

I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

You just said the FED prints millions of dollars affecting price and why wouldn't it print double for more profit.

Why? Because it can't profit by printing more.

I just refuted it with one link:

http://www.federalreserve.gov/faqs/about_14986.htm

Quote

It is not "owned" by anyone and is not a private, profit-making institution.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: ChuckBuck on December 26, 2014, 02:19:44 PM

Quote from: NotLambchop on December 26, 2014, 02:06:39 PM

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

Ai yi yi! Now you backed yourself in the corner. You shouldn't have mentioned the Federal Reserve.

The Fed has nothing to do with the government, is a private entity, a Central banking cartel that prints "continuous debt" dollars at will.
...

Who said anything about the government?

I know how exciting it is for you to trot out your hobby horse & show off for the grownups, but... You' haven't answered my question.
Now concentrate!

*And don't you dare start watching those pornographic "Money As Debt" vids before finishing your homeworks, or I'm blocking your YouTube Angry

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: NotLambchop on December 26, 2014, 02:06:39 PM

Quote from: ChuckBuck on December 26, 2014, 01:55:03 PM

...
But what would the number of coins mined per day have to do with the declining price?
...

Umm... Coffee.
For someone invested in a currency relying on limited supply, you sure don't understand the basics.

At the risk of asking you to think: What does the FED's printing of millions of dollars have to do with the value of USD? Why not print it twice as fast & PROFIT!!! ?

Ai yi yi! Now you backed yourself in the corner. You shouldn't have mentioned the Federal Reserve.

The Fed has nothing to do with the government, is a private entity, a Central banking cartel that prints "continuous debt" dollars at will.

Some gross facts about the Fed that might not make you sleep well tonight...

http://theeconomiccollapseblog.com/archives/10-things-that-every-american-should-know-about-the-federal-reserve

Boy oh boy...can't believe you brought up the "crooked" Fed

http://www.federalreserve.gov/faqs/about_14986.htm

Quote

Who owns the Federal Reserve?

The Federal Reserve System fulfills its public mission as an independent entity within government. It is not "owned" by anyone and is not a private, profit-making institution.

As the nation's central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: inca on December 26, 2014, 02:03:08 PM

...
He won't answer this because ...

So consistently wrong...

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: brg444 on December 26, 2014, 01:58:32 PM

Quote from: NotLambchop on December 26, 2014, 01:23:41 PM

...
Which part of "BTC can't [drop block rewards] with a hard fork--miners wouldn't mine the fork in which the block rewards are lower" do you find difficult to grasp?
I'm trying to explain the basics of contemporary economics to you Bitcoiners, as if you were five.
I've got plenty of patience, but you must be willing to learn.

Fantastic attempt to deviate from the obvious fallacy in your argument.

The block reward was twice as high 2 years ago yet Bitcoin managed to survive.

Can you explain Huh

Sure. The demand was higher, amongst other stuff. That's called "changing economic conditions," the very thing elastic money supply with IRL people in charge was created to address.
Good question. You're welcome

Topic: TIME TO BUY - page 3. (Read 9177 times)