Why not just print dollars? - page 33.

lissandra

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Quote from: Falconer on August 05, 2015, 12:15:10 PM

Quote from: Miracal on August 04, 2015, 03:46:11 AM

Quote from: dollarneed on August 03, 2015, 02:02:59 PM

if we print our money, prices will rise such that we’re no better off than we were before. Because wealth isn't created by printing money, it is only represented by it.
furthermore we dont have paper and tools like bank have it Cheesy

Printing our own money would simply disregard the currency, because it would lack authenticity. Other than that, obviously the reserve bank is in power of printing money, the government's can only deal with the authorities and request/beg/loan/whatever for it. Printing more money has often resulted in high inflation, and that is when shit hits the fans

Yeah true, it even become a hyper inflation like Zimbabwe. There are many regulations when do the printing money and what the reasons are. If the money is made irregularly, then the money will lose its value, and we cant buy anything with that.

because we all love zimbabwe money am I right? lol.

its just a matter of time the shit show hits everyone in the face. Like how we see the whole melt down with greece and euro is similar how the u.s. will go through but as for the u.s. there is no where else to run.

inflation sucks so much, a simple chocolate bar that costs $1 will be $2-3 because of inflation..

Falconer

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Quote from: Miracal on August 04, 2015, 03:46:11 AM

Quote from: dollarneed on August 03, 2015, 02:02:59 PM

if we print our money, prices will rise such that we’re no better off than we were before. Because wealth isn't created by printing money, it is only represented by it.
furthermore we dont have paper and tools like bank have it Cheesy

Printing our own money would simply disregard the currency, because it would lack authenticity. Other than that, obviously the reserve bank is in power of printing money, the government's can only deal with the authorities and request/beg/loan/whatever for it. Printing more money has often resulted in high inflation, and that is when shit hits the fans

Yeah true, it even become a hyper inflation like Zimbabwe. There are many regulations when do the printing money and what the reasons are. If the money is made irregularly, then the money will lose its value, and we cant buy anything with that.

Miracal

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Activity: 350

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Quote from: dollarneed on August 03, 2015, 02:02:59 PM

if we print our money, prices will rise such that we’re no better off than we were before. Because wealth isn't created by printing money, it is only represented by it.
furthermore we dont have paper and tools like bank have it Cheesy

Printing our own money would simply disregard the currency, because it would lack authenticity. Other than that, obviously the reserve bank is in power of printing money, the government's can only deal with the authorities and request/beg/loan/whatever for it. Printing more money has often resulted in high inflation, and that is when shit hits the fans

tee-rex

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Activity: 742

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Quote from: EternalWingsofGod on August 03, 2015, 02:51:25 PM

Quote from: tee-rex on August 03, 2015, 04:22:37 AM

Quote from: OROBTC on August 02, 2015, 02:46:46 PM

...

mookid

I see "SOS Venezuela" written on cars sometimes here (USA).

Chavez & Maduro have shown how to destroy a country with HUGE oil reserves.

Those huge oil reserves can potentially help you if you can sell oil with a high enough premium. Do you think Saudies will be happy if oil falls to 30$ per barrel (even if the cost of oil production in SA is around 10$)?

It would depend on what their budget is and how much they spend of it.
But given their giant soverign wealth funds they would be happy to keep it at that price because it would cause some small companies to fold and it takes time for that capacity to go back online.
(Choking out the competitors, seeking low cost buying opportunities in the market (China) etc.)

That is the crux of it! If oil keeps below 50$ for a long time (say, a few years), I think we should expect a lot of social unrest rising in the Gulf countries. Those thousands of Saudi royal family princes would start fighting with each other for a share of oil pie, or whatever would remain of it.

EternalWingsofGod

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Quote from: tee-rex on August 03, 2015, 04:22:37 AM

Quote from: OROBTC on August 02, 2015, 02:46:46 PM

...

mookid

I see "SOS Venezuela" written on cars sometimes here (USA).

Chavez & Maduro have shown how to destroy a country with HUGE oil reserves.

Those huge oil reserves can potentially help you if you can sell oil with a high enough premium. Do you think Saudies will be happy if oil falls to 30$ per barrel (even if the cost of oil production in SA is around 10$)?

It would depend on what their budget is and how much they spend of it.
But given their giant soverign wealth funds they would be happy to keep it at that price because it would cause some small companies to fold and it takes time for that capacity to go back online.
(Choking out the competitors, seeking low cost buying opportunities in the market (China) etc.)

dollarneed

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if we print our money, prices will rise such that we’re no better off than we were before. Because wealth isn't created by printing money, it is only represented by it.
furthermore we dont have paper and tools like bank have it Cheesy

RodeoX

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The revolution will be monetized!

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.

Follow the rabbit hole deeper and we see that gold and silver have no value beyond perception either. They are nice metals and have their own special properties, but no real value compared with an apple.

mookid

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Quote from: HarHarHar9965 on August 03, 2015, 03:38:14 AM

A government can't print its own currency, a central bank prints currency.. The central bank only gives you that currency when you give something to back them, countries like US have printed the money through central bank and now the debt itself is so much, I don't know how things are planned to go down for US, but speaking hypothetically, in future what if US refuses to return the money and goes on war instead? People assume they stand capable, they have strong allies and enough resources.

Countries like mine (Venezuela) have totalitarians government who can make the central bank do whatever the hell they want to. That's when a country starts to shit itself, when there is not transparency and independency between institutions.

tee-rex

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Quote from: OROBTC on August 02, 2015, 02:46:46 PM

...

mookid

I see "SOS Venezuela" written on cars sometimes here (USA).

Chavez & Maduro have shown how to destroy a country with HUGE oil reserves.

Those huge oil reserves can potentially help you if you can sell oil with a high enough premium. Do you think Saudies will be happy if oil falls to 30$ per barrel (even if the cost of oil production in SA is around 10$)?

HarHarHar9965

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Activity: 994

Merit: 1000

A government can't print its own currency, a central bank prints currency.. The central bank only gives you that currency when you give something to back them, countries like US have printed the money through central bank and now the debt itself is so much, I don't know how things are planned to go down for US, but speaking hypothetically, in future what if US refuses to return the money and goes on war instead? People assume they stand capable, they have strong allies and enough resources.

mindrust

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Activity: 3276

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Because if you print USDollars in your basement, Jew King of Federal Reserve Bank will look for you...

he will find you...

and he will murder you.

Simple as that.

jeannemadrigal2

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Activity: 322

Merit: 250

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.

I have to disagree a little bit. I do agree on principal, however millions of dollars have been spent on mining gear and facilities. This is not an investment that anyone will walk away from so I feel that it gives a support to bitcoins. I think this gives good protection against a price collapse. While it is not a direct protection it is indirect support.

mookid

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Activity: 446

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Bitcoin is slowly making an impact on some people in my country, we have a local Facebook group with about 4,000 people in it. Our local Bitcoin market (surbitcoin.com) is one of the most important bitcoin markets in south america (by BTC volume). Lot's of people are investing or buying bitcoins with their savings so they don't get devaluated by inflation, (Inflation is about 150% from January to July) think about this for a second, our inflation rate went up by 150% in seven months...

OROBTC

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...

mookid

I see "SOS Venezuela" written on cars sometimes here (USA).

Chavez & Maduro have shown how to destroy a country with HUGE oil reserves.

* * *

Your comments on how BITCOIN is catching on down in Venezuela would be of interest! Argentina is in that game.

mookid

sr. member

Activity: 446

Merit: 251

Im my country (Venezuela) the government coerce the central bank to print money for them.

s.mouse

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Why not just print dollars?

That's exactly what they do and exactly whats wrong with fiat because it makes every-bodies money worth less when they do. Printing more money doesn't work and is only in the interests of those that have been given a license to print money.

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. .

More decimal places could be added though but that wouldn't devalue everybody elses coins in the process.

AtheistAKASaneBrain

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Activity: 770

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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.

Nothing has intrinsic value. Gold has no intrinsic value, same for silver. No one cares about gold and silver beyond what can you buy with it. That's all that matters, if people accept it in exchange and good and services it's money. So Bitcoin is the best form of money we've ever seen.

TinEye

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Activity: 639

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i think it's done because otherwise they cannot keep with the inflation rate that their priting is generating, if they print and nothing else we would have all the fiat collapse today
instead by borrowing they give enough time to generate interest on those money and save printing only for the worst case, maybe i'm wrong but this is how i can see it

qiwoman2

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Activity: 2114

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Oikos.cash | Decentralized Finance on Tron

In order to print or make your own money you need to build an audience that will trust and accept it. Any tender legal or otherwise only has value because a certain group of people put value in it.

NorrisK

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Activity: 1946

Merit: 1007

Quote from: randy8777 on August 02, 2015, 04:29:57 AM

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.

bitcoin is opensource. which means anything can be changed. i don't think they will, but at some point the devs can decide to increase the coincap.

Which would stilll need to be accepted by the miners.. Why would miners agree with something like that? The beaty of open source is that it cannot be changed without consesus as opposed to closed source.

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