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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31264. (Read 26609830 times)

hero member
Activity: 826
Merit: 501
in defi we trust
Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  Grin)

The is the argument against a gold (or bitcoin) standard by the FED and banking status quo.

Under today's credit fiat system, it makes no sense to "save" money in currency since it continuously inflates. Instead savers are suppose to invest the money into businesses, capital spending, stocks, etc.

The problem is today no one saves this way, instead savers (those with disposable income over expenses) spend money frivolously on vacations/restaurants/crap instead of saving for the long term, and many of those who do invest do so in bubble type assets (i.e. large houses).

The fiat credit system is suppose to work in theory, but in practice it obviously does not. Hence bitcoin. It provides a real escape for true savers.

Saving is good, hoarding like a lunatic is not.

Confession: My name (pseudonym) is Erdogan, and I am addicted to the austrian economics.

Everything that is produced, has to be consumed or invested (in capital goods). When you buy a car, you pay with your work. Or, even easier to understand: when a farmer buys a pair of rubber boots, he really pays with potatoes. The money is just oil in the trading machinery. Money has to be maximally tradable, and it has to keep its value in the short run and the long run.

The two main functions of money, medium of exchange and store of value, are closely related, and you can not have the one, and not the other.

When you save money, you let other people consume what you do not consume. All saving is for the purpose of spending later. Tomorrow, next summer, when you retire, or by your descendants in the next few generations.

Hoarding is just a derogtive name for for saving, and the hate is undeserved. What is bad with letting some needy child getting in front of you in the toilette queue?

The savers (hoarders) deserve to be able to spend the full value of their savings when they later decide to spend.

With bitcoin, of course, you will be able to spend more. That is because bitcoin, the new money, is in the implementation phase. When you save in bitcoin, you do not just save, you are also an entrepreneur. You are paid for your knowledge and vision, by giving the world a better money.

The bitcoiners saw all that they had made, and it was very good.




Let's say only 300000 people own bitcoins today and they all decide to hoard their coins for 20 years. How will this new money spread to the rest of the population?

Those who want in, will buy, the price will rise until some of those hoarding are willing to sell.

I always say I'm going to hold for the long term, but I'm a college student living off of a few thousand bitcoins, there is a price.

From my understanding somebody is hoarding bitcoins when he has more coins than you do Smiley
member
Activity: 89
Merit: 10
allot of members here are married and have kids and independent life Wink

Isn't it contradictiory in terms? ;-)

Why, oh why, don't I have some fiat in an exchange right now?

legendary
Activity: 1260
Merit: 1000
Drunk Posts
Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  Grin)

The is the argument against a gold (or bitcoin) standard by the FED and banking status quo.

Under today's credit fiat system, it makes no sense to "save" money in currency since it continuously inflates. Instead savers are suppose to invest the money into businesses, capital spending, stocks, etc.

The problem is today no one saves this way, instead savers (those with disposable income over expenses) spend money frivolously on vacations/restaurants/crap instead of saving for the long term, and many of those who do invest do so in bubble type assets (i.e. large houses).

The fiat credit system is suppose to work in theory, but in practice it obviously does not. Hence bitcoin. It provides a real escape for true savers.

Saving is good, hoarding like a lunatic is not.

Confession: My name (pseudonym) is Erdogan, and I am addicted to the austrian economics.

Everything that is produced, has to be consumed or invested (in capital goods). When you buy a car, you pay with your work. Or, even easier to understand: when a farmer buys a pair of rubber boots, he really pays with potatoes. The money is just oil in the trading machinery. Money has to be maximally tradable, and it has to keep its value in the short run and the long run.

The two main functions of money, medium of exchange and store of value, are closely related, and you can not have the one, and not the other.

When you save money, you let other people consume what you do not consume. All saving is for the purpose of spending later. Tomorrow, next summer, when you retire, or by your descendants in the next few generations.

Hoarding is just a derogtive name for for saving, and the hate is undeserved. What is bad with letting some needy child getting in front of you in the toilette queue?

The savers (hoarders) deserve to be able to spend the full value of their savings when they later decide to spend.

With bitcoin, of course, you will be able to spend more. That is because bitcoin, the new money, is in the implementation phase. When you save in bitcoin, you do not just save, you are also an entrepreneur. You are paid for your knowledge and vision, by giving the world a better money.

The bitcoiners saw all that they had made, and it was very good.




Let's say only 300000 people own bitcoins today and they all decide to hoard their coins for 20 years. How will this new money spread to the rest of the population?

Those who want in, will buy, the price will rise until some of those hoarding are willing to sell.

I always say I'm going to hold for the long term, but I'm a college student living off of a few thousand bitcoins, there is a price.
sr. member
Activity: 266
Merit: 250
Hm hugh sell wall keeping price down on bitstamp. If it goes down it can go straight to 750 again.

Gotta love these games  Grin
legendary
Activity: 1512
Merit: 1005
Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  Grin)

The is the argument against a gold (or bitcoin) standard by the FED and banking status quo.

Under today's credit fiat system, it makes no sense to "save" money in currency since it continuously inflates. Instead savers are suppose to invest the money into businesses, capital spending, stocks, etc.

The problem is today no one saves this way, instead savers (those with disposable income over expenses) spend money frivolously on vacations/restaurants/crap instead of saving for the long term, and many of those who do invest do so in bubble type assets (i.e. large houses).

The fiat credit system is suppose to work in theory, but in practice it obviously does not. Hence bitcoin. It provides a real escape for true savers.

Saving is good, hoarding like a lunatic is not.

Confession: My name (pseudonym) is Erdogan, and I am addicted to the austrian economics.

Everything that is produced, has to be consumed or invested (in capital goods). When you buy a car, you pay with your work. Or, even easier to understand: when a farmer buys a pair of rubber boots, he really pays with potatoes. The money is just oil in the trading machinery. Money has to be maximally tradable, and it has to keep its value in the short run and the long run.

The two main functions of money, medium of exchange and store of value, are closely related, and you can not have the one, and not the other.

When you save money, you let other people consume what you do not consume. All saving is for the purpose of spending later. Tomorrow, next summer, when you retire, or by your descendants in the next few generations.

Hoarding is just a derogtive name for for saving, and the hate is undeserved. What is bad with letting some needy child getting in front of you in the toilette queue?

The savers (hoarders) deserve to be able to spend the full value of their savings when they later decide to spend.

With bitcoin, of course, you will be able to spend more. That is because bitcoin, the new money, is in the implementation phase. When you save in bitcoin, you do not just save, you are also an entrepreneur. You are paid for your knowledge and vision, by giving the world a better money.

The bitcoiners saw all that they had made, and it was very good.




Agree with some of the economics (although I am a Keynesian).

However, we are not gods - we are believers.  There is a difference.

Hehe, nonbeliever here, I just had to loan and adapt this elegant phrase from the bible.
legendary
Activity: 2338
Merit: 2106
Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)

You just provided me with a new way to reply to people saying Bitcoin is a bubble. Thank you  Smiley

Is The Universe sustainable ? :-)

The Universe is a Ponzi scheme with no intrinsic value. It is not backed by anything.

:-) It does not even have 2^256 atoms.

yeah, and where it came from and what will happen to it is pure speculation. lately they are even rumors about multiverses. (alts ?)
legendary
Activity: 2604
Merit: 1748
Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  Grin)

The is the argument against a gold (or bitcoin) standard by the FED and banking status quo.

Under today's credit fiat system, it makes no sense to "save" money in currency since it continuously inflates. Instead savers are suppose to invest the money into businesses, capital spending, stocks, etc.

The problem is today no one saves this way, instead savers (those with disposable income over expenses) spend money frivolously on vacations/restaurants/crap instead of saving for the long term, and many of those who do invest do so in bubble type assets (i.e. large houses).

The fiat credit system is suppose to work in theory, but in practice it obviously does not. Hence bitcoin. It provides a real escape for true savers.

Saving is good, hoarding like a lunatic is not.

Confession: My name (pseudonym) is Erdogan, and I am addicted to the austrian economics.

Everything that is produced, has to be consumed or invested (in capital goods). When you buy a car, you pay with your work. Or, even easier to understand: when a farmer buys a pair of rubber boots, he really pays with potatoes. The money is just oil in the trading machinery. Money has to be maximally tradable, and it has to keep its value in the short run and the long run.

The two main functions of money, medium of exchange and store of value, are closely related, and you can not have the one, and not the other.

When you save money, you let other people consume what you do not consume. All saving is for the purpose of spending later. Tomorrow, next summer, when you retire, or by your descendants in the next few generations.

Hoarding is just a derogtive name for for saving, and the hate is undeserved. What is bad with letting some needy child getting in front of you in the toilette queue?

The savers (hoarders) deserve to be able to spend the full value of their savings when they later decide to spend.

With bitcoin, of course, you will be able to spend more. That is because bitcoin, the new money, is in the implementation phase. When you save in bitcoin, you do not just save, you are also an entrepreneur. You are paid for your knowledge and vision, by giving the world a better money.

The bitcoiners saw all that they had made, and it was very good.




Agree with some of the economics (although I am a Keynesian).

However, we are not gods - we are believers.  There is a difference.
legendary
Activity: 1512
Merit: 1005
Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  Grin)

The is the argument against a gold (or bitcoin) standard by the FED and banking status quo.

Under today's credit fiat system, it makes no sense to "save" money in currency since it continuously inflates. Instead savers are suppose to invest the money into businesses, capital spending, stocks, etc.

The problem is today no one saves this way, instead savers (those with disposable income over expenses) spend money frivolously on vacations/restaurants/crap instead of saving for the long term, and many of those who do invest do so in bubble type assets (i.e. large houses).

The fiat credit system is suppose to work in theory, but in practice it obviously does not. Hence bitcoin. It provides a real escape for true savers.

Saving is good, hoarding like a lunatic is not.

Confession: My name (pseudonym) is Erdogan, and I am addicted to the austrian economics.

Everything that is produced, has to be consumed or invested (in capital goods). When you buy a car, you pay with your work. Or, even easier to understand: when a farmer buys a pair of rubber boots, he really pays with potatoes. The money is just oil in the trading machinery. Money has to be maximally tradable, and it has to keep its value in the short run and the long run.

The two main functions of money, medium of exchange and store of value, are closely related, and you can not have the one, and not the other.

When you save money, you let other people consume what you do not consume. All saving is for the purpose of spending later. Tomorrow, next summer, when you retire, or by your descendants in the next few generations.

Hoarding is just a derogtive name for for saving, and the hate is undeserved. What is bad with letting some needy child getting in front of you in the toilette queue?

The savers (hoarders) deserve to be able to spend the full value of their savings when they later decide to spend.

With bitcoin, of course, you will be able to spend more. That is because bitcoin, the new money, is in the implementation phase. When you save in bitcoin, you do not just save, you are also an entrepreneur. You are paid for your knowledge and vision, by giving the world a better money.

The bitcoiners saw all that they had made, and it was very good.

legendary
Activity: 2604
Merit: 1748
Tumbleweed time... very quiet - big money waitin' for us to sleep before it moves again?

Bitcoin is never this quiet for long....

Looked at chart and saw a 500 sell order right  after i read this. Are you trying to anger the BTC gods?

Nope - just perfectly timed Wink
legendary
Activity: 1414
Merit: 1000
Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)

You just provided me with a new way to reply to people saying Bitcoin is a bubble. Thank you  Smiley

Is The Universe sustainable ? :-)

The Universe is a Ponzi scheme with no intrinsic value. It is not backed by anything.

:-) It does not even have 2^256 atoms.
legendary
Activity: 2833
Merit: 1851
In order to dump coins one must have coins
Tumbleweed time... very quiet - big money waitin' for us to sleep before it moves again?

Bitcoin is never this quiet for long....

Looked at chart and saw a 500 sell order right  after i read this. Are you trying to anger the BTC gods?
full member
Activity: 126
Merit: 100
Could someone please comment on where they feel the exchange handles shorting well-- I'm asking whether Cavitrex (sp?) and vitrex (sp?) are the best/only game in town to participate in the 'other' successful trade (shorting)?

Thanks in advance.  Smiley
sr. member
Activity: 350
Merit: 250
This account was recently hacked
I am beginning to wonder if I am the only person here who does not live his parents, has a car which cost more than a thousand bucks, a nice sofa and er.... a girlfriend.

Maybe I am not nerdy enough and that's why I have not go as many coins as others seems to have Wink



No , you're not:)

allot of members here are married and have kids and independent life Wink
My sofa was okay until the dog started eating it.  However, I don't live with my parents, I moved out 24 years ago.  As for the girlfriend, she's an ex and we get on much better that way.

My car might not have cost more than $1000 but I have a double decker bus kitted out as a living vehicle which did.  (I also have a house)(rented, not mine)
full member
Activity: 126
Merit: 100
guys chill out, love more, hate less Cheesy

Nice joint, eh?  Wink

Yeah, I had to smoke one this morning-- been a major turning point, exits are closing up, looking at the 'arm of death' (if it's even real), yet again. A much needed change of seasons, IMO. Winter must always come. Here at my in-laws *he lives at even more tenuous in-law unit!!?* it snowed here last night. I'd be surprised if we are heading back to the uptrend. Happy holidays a little early folks!  Smiley
newbie
Activity: 37
Merit: 0
A central tenet of economics:

Investment is foregone consumption.

In plain English - we have to give up spending to have something to save.

Simple.

Even more plain: we prefer to use our stuff for longterm production instead of momentary consumption.

Eat less grain now and plant more crops so we can feed more people next year. Smiley



Central bankers make for bad farmers.  Cheesy
full member
Activity: 126
Merit: 100
The real indicator that the crash is over is that this thread switched to talking about cars and girlfriends.

I don't see anyone bragging about their cars or girlfriends , so the atmosphere is still gloomy Smiley

still trying to sort out the figure out how why anyone would want a tractor less than a car but i'm pretty happy with the girlfriend Smiley

FTFY  Smiley

PS How much acreage are you planning to get? I want 40 if it's possible, enough to have a major garden, a small orchard and plenty of smart use-space to cultivate my inner thoughts. I like the quiet if I can get it.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2604
Merit: 1748
Tumbleweed time... very quiet - big money waitin' for us to sleep before it moves again?

Bitcoin is never this quiet for long....
newbie
Activity: 27
Merit: 0
guys chill out, love more, hate less Cheesy

Nice joint, eh?  Wink
legendary
Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)

You just provided me with a new way to reply to people saying Bitcoin is a bubble. Thank you  Smiley

Is The Universe sustainable ? :-)

The Universe is a Ponzi scheme with no intrinsic value. It is not backed by anything.
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