Why not just print dollars? - page 30.

jaysabi

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Quote from: zimmah on December 18, 2015, 07:52:49 PM

Quote from: Possum577 on August 02, 2015, 12:36:00 AM

Quote from: Meuh6879 on August 01, 2015, 06:50:12 PM

the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value ! Cheesy

You're right that bitcoin can't be printed when more is needed.

You're wrong that bitcoin has real value. The value is perceived because all of us place value upon it...just as we do fiat currency.

There is no tangible thing that supports the value of bitcoin, that can prove there is value to it.

There's no Gold, no Silver, no other tangible item that exists in the world...just the promise that only so much bitcoin can every be mined and that the validity of transactions and balances are verified by the community that uses it.

What is money? Dollars/euros etc don't have value either.
Even gold and silver don't really have value unless you want to build a smartphone or computer or something.

Real value is in food, clothes, luxury items like cars, things you can use.

Gold and currencies only have value for as long as people are willing to trade real wealth for it. In that sense Bitcoin is as real as any other currency.

I think you're confusing "value" with "utility." Utility and value are closely correlated, but they are different. Gold, silver, fiat, and crypto all have value when any person decides it does and will trade something else for it.

zimmah

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Quote from: Possum577 on August 02, 2015, 12:36:00 AM

Quote from: Meuh6879 on August 01, 2015, 06:50:12 PM

the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value ! Cheesy

You're right that bitcoin can't be printed when more is needed.

You're wrong that bitcoin has real value. The value is perceived because all of us place value upon it...just as we do fiat currency.

There is no tangible thing that supports the value of bitcoin, that can prove there is value to it.

There's no Gold, no Silver, no other tangible item that exists in the world...just the promise that only so much bitcoin can every be mined and that the validity of transactions and balances are verified by the community that uses it.

What is money? Dollars/euros etc don't have value either.
Even gold and silver don't really have value unless you want to build a smartphone or computer or something.

Real value is in food, clothes, luxury items like cars, things you can use.

Gold and currencies only have value for as long as people are willing to trade real wealth for it. In that sense Bitcoin is as real as any other currency.

lost2912

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it is against world system think ,if i have machine for to print dollars and we think it is legal and everyone will print dollars who will work and who will do someting stuff for food for drink
, i m sure no one want to work and and just take a rest and will watch tv and will use their machine
What a beautiful life

i wish that but it will be not working in this world system

orryde

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This post is interesting because it brings up an important point.
In the United States 97% of money is generated through fractional reserve banking, this means that only 3% of money is cash.

So if everyone in the United States demanded their money in cash, this would reveal the truth. There simply isn't enough cold hard cash, to back up the digits on the computer.

Bitcoinbro

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It is shamefull that they are not forced to cut cost like every company should do. Because there is a monopoly on money they abuse it.
Remember that this won't last, eventually they are caught up with reality.

HarryKPeters

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Quote from: greBit on December 18, 2015, 03:04:24 PM

Quote from: HarryKPeters on December 18, 2015, 02:09:33 PM

It is one of the reason why lenders should just loan money, but ask for guarantees. Hard agreements that guarantee they will get their money back with the same value.

Since the debt is growing and growing, it will 100% be (party) paid by new printed dollars..

Correcto, but the problem is the lenders, don't ask for guarantees at all. Just pay us our money back with interest. If the total is less then today, we don't care.

That's just plain stupid right? They have done this for years and they will keep doing this, until their economy collapse..

Yes that's the only way for them to get out of the debt and repay the money back this thing is surely gonna happen soon. They might adopt some crypto coins like Bitcoin.

Oscoda

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What do you think if people just print money? The fiat money won't be that worth anymore.
That is why people just don't print money the economie will just collaps.

greBit

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Quote from: HarryKPeters on December 18, 2015, 02:09:33 PM

It is one of the reason why lenders should just loan money, but ask for guarantees. Hard agreements that guarantee they will get their money back with the same value.

Since the debt is growing and growing, it will 100% be (party) paid by new printed dollars..

Yes that's the only way for them to get out of the debt and repay the money back this thing is surely gonna happen soon. They might adopt some crypto coins like Bitcoin.

HarryKPeters

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It is one of the reason why lenders should just loan money, but ask for guarantees. Hard agreements that guarantee they will get their money back with the same value.

Since the debt is growing and growing, it will 100% be (party) paid by new printed dollars..

Farma

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because if the dollar printed and limit excess stock, the price of the dollar will go down or become useless Grin

conio.h

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Because it is unlegal according to law. to make money you need to provide service or goods in exchange.

SebastianJu

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Quote from: Lituation on November 28, 2015, 01:10:55 PM

Quote from: SebastianJu on November 27, 2015, 07:33:07 AM

Quote from: Lituation on November 26, 2015, 05:02:29 PM

Why not raise the total supply of Bitcoin? Change it to 8 billion so everyone can have 1 Bitcoin. Pretty solid solutions.

Is that sarcasm or serious? If the latter... it is not needed. Firstly it would devalue all bitcoins currently in existence. Bitcoin would crash instantly. And secondly it is not needed because even when the 8 decimals are not enough, the amount of decimals can be raised like developers want to raise. A bitcoin might be worth a lot of thousand dollars but then we would simply calculate with satoshies, mBTC or so.

Of course it was obvious sarcasm. I think it wasn't obvious enough for this place.
Ironically a politician said similar thing like that when the subject was government expenses. He said we can print more money to pay our debt. I adore this ignorant confidence.

You never know when someone means your sentence serious on bitcointalks. Cheesy

Pollak

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If we print more money, prices will rise such that we’re no better off than we were before.
To see why, we’ll suppose this isn’t true, and that prices will not increase much when we drastically increase the money supply.
Consider the case of the United States.

Lituation

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Quote from: SebastianJu on November 27, 2015, 07:33:07 AM

Quote from: Lituation on November 26, 2015, 05:02:29 PM

Why not raise the total supply of Bitcoin? Change it to 8 billion so everyone can have 1 Bitcoin. Pretty solid solutions.

Is that sarcasm or serious? If the latter... it is not needed. Firstly it would devalue all bitcoins currently in existence. Bitcoin would crash instantly. And secondly it is not needed because even when the 8 decimals are not enough, the amount of decimals can be raised like developers want to raise. A bitcoin might be worth a lot of thousand dollars but then we would simply calculate with satoshies, mBTC or so.

Of course it was obvious sarcasm. I think it wasn't obvious enough for this place.
Ironically a politician said similar thing like that when the subject was government expenses. He said we can print more money to pay our debt. I adore this ignorant confidence.

bitcoin-hunter

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Quote from: zodiac3011 on November 28, 2015, 10:25:53 AM

Quote from: Amph on November 27, 2015, 12:50:45 PM

Quote from: zodiac3011 on November 27, 2015, 09:34:54 AM

keeps printing the dollars will end up cause a big inflation and we will be all in big trouble (look at the US debt! There are a lot of zeros in it)

well it's what they have done in all those years, they exceeded by a long shot the maximum limit to not cause huge inflation

but despite this it seems that this years the infaltion is negative, which is strange

well who knows... what magic have they used... money still got printed and the inflation rate drops Grin

Hahaha yeah well I don't live in the US so I don't care that much.

I just care that the future of Bitcoin will be good.

zodiac3011

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Quote from: Amph on November 27, 2015, 12:50:45 PM

Quote from: zodiac3011 on November 27, 2015, 09:34:54 AM

keeps printing the dollars will end up cause a big inflation and we will be all in big trouble (look at the US debt! There are a lot of zeros in it)

well it's what they have done in all those years, they exceeded by a long shot the maximum limit to not cause huge inflation

but despite this it seems that this years the infaltion is negative, which is strange

well who knows... what magic have they used... money still got printed and the inflation rate drops Grin

Pab

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Quote from: OROBTC on August 02, 2015, 12:50:49 AM

...

There's an argument, that I have seen explored a little at Zero Hedge, that printing money would be better than taxation.

This is an exotic argument that I have not had a chance nor even the ability (yet) to properly wrap my brain around with it.

A first thought:

Eliminating taxation, of course, would likely anger the poor (they pay low taxes, except various consumption taxes). Envy and resentment would likely prevent this idea of eliminating taxation altogether.

* * *

I am already convinced that gold ought not be linked to currency (that is, no "Gold Standard"). A Gold Standard would function poorly IMO. Gold's best and highest value use is as a Store of Value.

Gold <> Money in that sense. Most define money as roughly filling three roles: Unit of Account, Medium of Exchange, and Store of Value. But, we are perhaps soon at the point of monetary failure, the US$ will not (cannot) fulfill those three roles of "money".

Central banks cant manipulate any currency what is based on gold or even silver.Currency based on gold is stable
It is a reason why any currency is based on gold

Amph

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Quote from: zodiac3011 on November 27, 2015, 09:34:54 AM

keeps printing the dollars will end up cause a big inflation and we will be all in big trouble (look at the US debt! There are a lot of zeros in it)

well it's what they have done in all those years, they exceeded by a long shot the maximum limit to not cause huge inflation

but despite this it seems that this year the infaltion is negative, which is strange

AndySt

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Mindless printing of a huge quantity of money leads to hyperinflation and loss of confidence in the currency. This measure may be justified to stimulate the economy for some time. But for a long time corrupts the financial sector.

Hashminers

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Quote from: zodiac3011 on November 27, 2015, 10:10:55 AM

Quote from: Pollak on November 27, 2015, 09:51:47 AM

Quote from: ridery99 on November 27, 2015, 09:37:57 AM

Quote from: LuckyYOU on November 27, 2015, 09:24:17 AM

If they would keep printing dollars, it wouldn't be worth much since they can keep printing anyway. It wouldn't hold any value to it. Plus it would have a negative effect on a lot of economic markets.

That's awesome

Weird that is awesome how? Did you read it right.
You can destroy de economy with printing alot of money.

yeah. I was wondering too. That will cause us many problems so why it would be awesome

If the normal money the economie will be bad how about bitcoin?

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