what if btc takes over €/$ ? - page 2.

grondilu

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Quote from: nebiki on February 15, 2013, 12:15:26 AM

maybe, but would i want people to have hoarded thousands of these? they didn't work for them, just speculated and were there early. society just won't allow that.

Speculators are not just throwing money randomly everywhere. They try to see what the future will be like, usually with a rational analysis. By doing so, they propagate price information in the market and this price information has a lot of economics value. It is basically intelligence that can be exploited by economics agents in order to foresee what will be the future needs and trends.

Spaceman_Spiff

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₪``Campaign Manager´´₪

Quote from: Elwar on February 15, 2013, 12:36:23 AM

USD just lost 20% of its value in the past week.

I hope you realize this is wrong...

FreeMoney

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Activity: 1246

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Strength in numbers

Quote from: nebiki on February 14, 2013, 11:59:30 PM

isn't this part of what people want?

how will our economy work then and how do we justify some people hoarding thousands of btc for doing nothing?

if all 21 mil coins equaled the current amount of $ in the developed countries, 1 bitcoin would equal $ 10 mil.

i don't understand. this no work.

How exactly can you hoard bitcoins without doing anything?

lassdas

legendary

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Quote from: nebiki on February 14, 2013, 11:59:30 PM

what if btc takes over €/$ ?

It won't happen, ever.

Quote from: nebiki on February 14, 2013, 11:59:30 PM

isn't this part of what people want?

No.

Quote from: nebiki on February 14, 2013, 11:59:30 PM

how do we justify some people hoarding thousands of btc for doing nothing?

People can do with their money whatever they want. It's not up to you or anyone else to tell them, what they're supposed to do and what not.

Quote from: nebiki on February 15, 2013, 12:15:26 AM

but would i want people to have hoarded thousands of these? they didn't work for them, just speculated and were there early. society just won't allow that.

How do you know what they did to get them? If they worked, speculated, got them as a gift, or found them on a hdd they got from ebay?
And why does it matter?
Society already allows speculators, doesn't it? There's lot's of people with big bank accounts that never worked in their life (did Paris Hilton ever work?) and society applauds and cheers at them as idols and throws even more money at them.

Gestas

newbie

Activity: 54

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Quote from: foggyb on February 15, 2013, 12:54:08 AM

Quote from: Gestas on February 15, 2013, 12:46:27 AM

Quote from: Elwar on February 15, 2013, 12:37:34 AM

Quote from: Vince Torres on February 15, 2013, 12:35:15 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

A currency is pretty worthless if you cant buy the basic necessities of life with it.

Correction: A currency is worthless when no one wants it. If people want bitcoin, we'll be able to exchange it for anything, soon enough.

People buy the basics with credit cards every day. There is absolutely no reason we couldn't do that with a credit-card sized electronic bitcoin wallet (already being worked on).

why would your average consumer ever want to use bitcoins? Irreversible charges and 10 minute transaction times along with having to pay the transaction fee are hardly attractive.

foggyb

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Activity: 1694

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Quote from: Gestas on February 15, 2013, 12:46:27 AM

Quote from: Elwar on February 15, 2013, 12:37:34 AM

Quote from: Vince Torres on February 15, 2013, 12:35:15 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

A currency is pretty worthless if you cant buy the basic necessities of life with it.

Correction: A currency is worthless when no one wants it. If people want bitcoin, we'll be able to exchange it for anything, soon enough.

People buy the basics with credit cards every day. There is absolutely no reason we couldn't do that with a credit-card sized electronic bitcoin wallet (already being worked on).

Gestas

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Activity: 54

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Quote from: Elwar on February 15, 2013, 12:37:34 AM

Quote from: Vince Torres on February 15, 2013, 12:35:15 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

A currency is pretty worthless if you cant buy the basic necessities of life with it.

Vince Torres

sr. member

Activity: 337

Merit: 250

Quote from: Elwar on February 15, 2013, 12:40:44 AM

Quote from: Vince Torres on February 15, 2013, 12:38:29 AM

Quote from: Elwar on February 15, 2013, 12:36:23 AM

Quote from: Gestas on February 15, 2013, 12:22:49 AM

Quote from: Elwar on February 15, 2013, 12:19:33 AM

Quote from: Gestas on February 15, 2013, 12:17:10 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

USD just lost 20% of its value in the past week.

btw...welcome to the forums, enjoy learning about Bitcoins

Give me a source, I want charts.

LOL, I posted the bitcoin chart I sure le trolled him!11!!

Intueri

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This quickly turned into a pizza/inflation topic.

So common.

Elwar

legendary

Activity: 3598

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Viva Ut Vivas

Quote from: Vince Torres on February 15, 2013, 12:38:29 AM

Quote from: Elwar on February 15, 2013, 12:36:23 AM

Quote from: Gestas on February 15, 2013, 12:22:49 AM

Quote from: Elwar on February 15, 2013, 12:19:33 AM

Quote from: Gestas on February 15, 2013, 12:17:10 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

USD just lost 20% of its value in the past week.

btw...welcome to the forums, enjoy learning about Bitcoins

Give me a source, I want charts.

Vince Torres

sr. member

Activity: 337

Merit: 250

Quote from: Elwar on February 15, 2013, 12:37:34 AM

Quote from: Vince Torres on February 15, 2013, 12:35:15 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

Yeah one type of food. Get me more websites where I can buy groceries and sustain my family with a healthy lifestyle.

Vince Torres

sr. member

Activity: 337

Merit: 250

Quote from: Elwar on February 15, 2013, 12:36:23 AM

Quote from: Gestas on February 15, 2013, 12:22:49 AM

Quote from: Elwar on February 15, 2013, 12:19:33 AM

Quote from: Gestas on February 15, 2013, 12:17:10 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

USD just lost 20% of its value in the past week.

btw...welcome to the forums, enjoy learning about Bitcoins

Give me a source, I want charts.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Vince Torres on February 15, 2013, 12:35:15 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Apparently a currency is only worth something if you can buy food with it.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Gestas on February 15, 2013, 12:22:49 AM

Quote from: Elwar on February 15, 2013, 12:19:33 AM

Quote from: Gestas on February 15, 2013, 12:17:10 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

USD just lost 20% of its value in the past week.

btw...welcome to the forums, enjoy learning about Bitcoins

Vince Torres

sr. member

Activity: 337

Merit: 250

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Enough with this pizza bullshit. Ok we get it you can buy pizza. What are you all fucking diabetics?

Gestas

newbie

Activity: 54

Merit: 0

Quote from: Elwar on February 15, 2013, 12:19:33 AM

Quote from: Gestas on February 15, 2013, 12:17:10 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

You dont have a cash reserve when you use a credit, I'm buying that Pizza with debt which I will pay for with money that I made at my job. Left over savings are invested wisely to counteract the effects of inflation.

P.S. USD inflation is incredibly low and I dont have to worry about prices going from $30 to $5 overnight.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Gestas on February 15, 2013, 12:17:10 AM

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

Keeping cash reserves in a currency losing value to buy that pizza just cost you double the cost of the pizza.

Gestas

newbie

Activity: 54

Merit: 0

Quote from: Elwar on February 15, 2013, 12:13:12 AM

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Cool I always wanted to pay a large fee so someone else could order from dominos with their credit card instead of just using my credit card because ?

nebiki

sr. member

Activity: 742

Merit: 250

Quote from: Elwar on February 15, 2013, 12:02:41 AM

People hoarding would have no affect on your ability to make a purchase using Bitcoin.

maybe, but would i want people to have hoarded thousands of these? they didn't work for them, just speculated and were there early. society just won't allow that.

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

yeah, now. the ideology, though, is that there's no more fiat currency and all is done in bitcoin.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Gestas on February 15, 2013, 12:03:39 AM

You cant buy anything with BTC, it's only valuable because people can cash it out to fiat once the transaction is done with and can pay their rent/buy food, etc

http://pizzaforcoins.com

Topic: what if btc takes over €/$ ? - page 2. (Read 2716 times)