Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24707.

JayJuanGee

legendary

Activity: 3962

Merit: 11519

Self-Custody is a right. Say no to"Non-custodial"

Quote from: derpinheimer on November 05, 2014, 09:55:30 PM

Quote from: fonzie on November 05, 2014, 08:47:24 PM

Quote from: Dotto on November 05, 2014, 08:41:47 PM

WOW

VERY MARKETCAP!!

Finally, it was about time. Those goddamn manipulators couldn´t hold it down any longer! Angry

Fair price for a fair coin!

Wow, it seems like i´m a USD billionaire right now! Shocked

Dont sell your Doge for $400. Its a beartrap. Wait for $10,000.

That chart appears to be from last December 2013 or January 2014... there was some kind of glitch in the charts, and that was the first time that I had heard about Doge coin...

acsalles

member

Activity: 343

Merit: 11

Rangers.Protocol

Quote from: 79b79aa8d5047da6d3XX on November 06, 2014, 01:08:30 AM

Quote from: solex on November 06, 2014, 12:19:02 AM

Hoarding is simply the same as saving. Savings are what makes capitalism a viable economic model. Inflation is a stealth tax from those who have last use of new money (the poor, middle class) to the pockets of those who have first use of new money (the banks, wealthy, government).

It is not quite so simple. Standard economists worry that if inflation becomes too low (or if there is deflation), incentive to hoard increases and incentive to invest drops, which could lead to negative growth, the bête noire of capitalism.

Agree... On the other hand, negative growth is in fact what we desperately need to reduce the consumption of resources and reduce of polution and waste on planet earth.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

Wekkel

legendary

Activity: 3122

Merit: 1538

yes

Quote from: marcus_of_augustus on November 06, 2014, 02:10:24 AM

Quote from: 79b79aa8d5047da6d3XX on November 06, 2014, 01:08:30 AM

Quote from: solex on November 06, 2014, 12:19:02 AM

Hoarding is simply the same as saving. Savings are what makes capitalism a viable economic model. Inflation is a stealth tax from those who have last use of new money (the poor, middle class) to the pockets of those who have first use of new money (the banks, wealthy, government).

It is not quite so simple. Standard economists worry that if inflation becomes too low (or if there is deflation), incentive to hoard increases and incentive to invest drops, which could lead to negative growth, the bête noire of capitalism.

The situation you refer to is only possible in a domain where there is an artificially enforced monopoly on the money supply, e.g. central bank, totalitarian capital controls, etc.

Free markets rapidly fill shortages of goods, monetary or otherwise, and correct mispricing.

Can't let that happen, can we?

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Quote from: 79b79aa8d5047da6d3XX on November 06, 2014, 01:08:30 AM

Quote from: solex on November 06, 2014, 12:19:02 AM

Hoarding is simply the same as saving. Savings are what makes capitalism a viable economic model. Inflation is a stealth tax from those who have last use of new money (the poor, middle class) to the pockets of those who have first use of new money (the banks, wealthy, government).

It is not quite so simple. Standard economists worry that if inflation becomes too low (or if there is deflation), incentive to hoard increases and incentive to invest drops, which could lead to negative growth, the bête noire of capitalism.

The situation you refer to is only possible in a domain where there is an artificially enforced monopoly on the money supply, e.g. central bank, totalitarian capital controls, etc.

Free markets rapidly fill shortages of goods, monetary or otherwise, and correct mispricing.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

mooncake

sr. member

Activity: 434

Merit: 250

Quote from: 79b79aa8d5047da6d3XX on November 06, 2014, 01:08:30 AM

It is not quite so simple. Standard economists worry that if inflation becomes too low (or if there is deflation), incentive to hoard increases and incentive to invest drops, which could lead to negative growth, the bête noire of capitalism.

There is inflation because there is money. The purpose of money primarily is to facilitate trade. That is not to say trade cannot happen without money. Money just makes trading easier.

From that perspective, there is no reason for inflation at all. This is because money is just an intermediary for the exchange of goods.

Now, on the argument that deflation leads to negative growth, that is true to a certain extent but mostly because the basis of growth is consumption, to the extent of excessiveness, regardless of factors like environmental degradation which may lead to our eventual extinction because of climate change for example.

Capitalism when driven by greed will lead to our eventual demise because there is no limit to greed. The only way out is to realise this before it is too late.

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

Quote from: 79b79aa8d5047da6d3XX on November 06, 2014, 01:08:30 AM

Quote from: solex on November 06, 2014, 12:19:02 AM

Hoarding is simply the same as saving. Savings are what makes capitalism a viable economic model. Inflation is a stealth tax from those who have last use of new money (the poor, middle class) to the pockets of those who have first use of new money (the banks, wealthy, government).

It is not quite so simple. Standard economists worry that if inflation becomes too low (or if there is deflation), incentive to hoard increases and incentive to invest drops, which could lead to negative growth, the bête noire of capitalism.

There is merit to the argument that inflation should match real GDP, rather than remain near zero, with deflationary effects. Even gold "inflates" as the stockpile grows from mining. Bitcoin will inflate at a greater rate than the world real GDP growth rate for some years yet. And if Bitcoin deflationary effects ever proved a constraint on GDP in a Bitcoin economy, then there is always Litecoin etc to take up the slack.

Also, those standard economists may well be in "academic capture" and parrot the view that serves their employers (central banks, government) best.
http://www.washingtonpost.com/news/volokh-conspiracy/wp/2014/05/18/regulatory-and-academic-capture/

79b79aa8d5047da6d3XX

full member

Activity: 660

Merit: 101

Colletrix - Bridging the Physical and Virtual Worl

Quote from: solex on November 06, 2014, 12:19:02 AM

Hoarding is simply the same as saving. Savings are what makes capitalism a viable economic model. Inflation is a stealth tax from those who have last use of new money (the poor, middle class) to the pockets of those who have first use of new money (the banks, wealthy, government).

It is not quite so simple. Standard economists worry that if inflation becomes too low (or if there is deflation), incentive to hoard increases and incentive to invest drops, which could lead to negative growth, the bête noire of capitalism.

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Quote from: solex on November 06, 2014, 01:04:16 AM

Quote from: octaft on November 06, 2014, 12:51:21 AM

Well he is definitely trolling now, of course, I'm just wondering if he's always trolling or just trying his hand at it for a bit.

Think of it like the journey of Anakin Skywalker, way back, starting off with an open mind, but soon began an ever deeper descent into the troll-side of the farce.

...
in that one the farce is strong,
mastered the dark arts of the subtle FUD has he.

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

Quote from: octaft on November 06, 2014, 12:51:21 AM

Well he is definitely trolling now, of course, I'm just wondering if he's always trolling or just trying his hand at it for a bit.

Think of it like the journey of Anakin Skywalker, way back, starting off with an open mind, but soon began an ever deeper descent into the troll-side of the farce.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

noobtrader

legendary

Activity: 1456

Merit: 1000

price is moving Cheesy

octaft

sr. member

Activity: 476

Merit: 250

Quote from: MrPiggles on November 06, 2014, 12:46:31 AM

Quote from: octaft on November 06, 2014, 12:39:04 AM

I am beginning to wonder if I was wrong about Jorge not being a troll...

I've been calling him a troll for some time

Quote from: dropt on November 06, 2014, 12:42:12 AM

Quote from: MrPiggles on November 06, 2014, 12:15:37 AM

If you started 350 days ago I really can't be arsed to calculate it, but either way you're clearly full of shit even if you only started with 0.01 btc or a few satoshis.

Which obviously means he has 0BTC. Pretty easy to double 0BTC everyday now ain't it. Kiss

Yeah, but is it possible to sell 0 btc to buy 0 xrp?

Pretty sure that just makes him full of shit, if he's claiming to have something and double it daily but really has zero, it's not clever semantics, it's bullshit.

Well he is definitely trolling now, of course, I'm just wondering if he's always trolling or just trying his hand at it for a bit.

MrPiggles

sr. member

Activity: 980

Merit: 256

Decentralized Ascending Auctions on Blockchain

Quote from: octaft on November 06, 2014, 12:39:04 AM

I am beginning to wonder if I was wrong about Jorge not being a troll...

I've been calling him a troll for some time

Quote from: dropt on November 06, 2014, 12:42:12 AM

Quote from: MrPiggles on November 06, 2014, 12:15:37 AM

If you started 350 days ago I really can't be arsed to calculate it, but either way you're clearly full of shit even if you only started with 0.01 btc or a few satoshis.

Which obviously means he has 0BTC. Pretty easy to double 0BTC everyday now ain't it. Kiss

Yeah, but is it possible to sell 0 btc to buy 0 xrp?

Pretty sure that just makes him full of shit, if he's claiming to have something and double it daily but really has zero, it's not clever semantics, it's bullshit.

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: MrPiggles on November 06, 2014, 12:15:37 AM

If you started 350 days ago I really can't be arsed to calculate it, but either way you're clearly full of shit even if you only started with 0.01 btc or a few satoshis.

Which obviously means he has 0BTC. Pretty easy to double 0BTC everyday now ain't it. Kiss

octaft

sr. member

Activity: 476

Merit: 250

I am beginning to wonder if I was wrong about Jorge not being a troll...

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: marcus_of_augustus on November 06, 2014, 12:26:06 AM

Jorge and ripple seem like a good match but in the long run they might both be dead.

I see what you did there.

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Crap money is ok for crap countries, in fact it almost defines them. All the observational evidence strongly points towards sound money as being a necessary condition for prosperity, especially over long time frames.

Jorge and ripple seem like a good match but in the long run they might both be dead.

MrPiggles

sr. member

Activity: 980

Merit: 256

Decentralized Ascending Auctions on Blockchain

for a maths professor jorge isn't very good at maths, lol

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24707. (Read 26713578 times)