Why not just print dollars? - page 34.

randy8777

legendary

Activity: 896

Merit: 1000

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.

GriffinHeart

full member

Activity: 182

Merit: 100

Hello there!

You can't print paper money without the specific material to do it... Cryptocurrency is a whole new revolution!

josephno1

full member

Activity: 140

Merit: 100

Get Free Mobile Data http://get.kickbit.com/1/oexq

Because we know better than to do what Germany did post WW1

greBit

hero member

Activity: 714

Merit: 500

I will just state my observations in short: Printing too much paper drives a country into inflation. Inflation can ruin the country and destroy its economy. Bitcoin has no real value, but it can be perceived that bitcoin will always be equal to another bitcoin and not to 1200$/1million$, nobody can really determine its perfect value at a perfect time, because there is a difference between price and value.

OROBTC

legendary

Activity: 2940

Merit: 1865

...

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".

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

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.

Meuh6879

legendary

Activity: 1512

Merit: 1012