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Topic: You Know Whats f**king Sad? - page 2. (Read 5763 times)

legendary
Activity: 1708
Merit: 1010
December 11, 2012, 04:16:18 PM
#31

- Governments will want to steal people's gold in the future (they already did once)

I find this unlikely.  When this happened last in the US, gold was how most people saved for old age.  These days, that is done via 401k's and IRA retirement accounts.  There is much more value for a failing government to steal in those accounts than all of the privately owned gold in our modern world.  And since those accounts were created as tax-defered savings vehicles by acts of Congress, it's hard to argue that Congress can't just change it's mind on that issue, for the "greater good" and all that.  For that matter, there has been talk of 'nationalizing' private retirement accounts by certain persons on the far left of the political spectrum in Congress since the big health care law was passed.  It's simply the next box to get a checkmark in their social agenda.
newbie
Activity: 56
Merit: 0
December 11, 2012, 04:09:48 PM
#30
I was referring to the need to create a P2P form of currency. And by "tied to the dollar" I meant we assess btc at their USD value that day. Its not like we think of them in units of gold or something.

It's funny you say that because I've been training myself to break my programming(brainwashing) as it relates to valuing everything in consistently devalued FRNs for some while now. I'm nearly there, though sometimes I still regress. Instead of fiat toilet paper I try to think of the value of everything in terms of Ozt of silver. Try it some time, it can be very enlightening. When you think of purchases in terms of exchanging something of intrinsic value like AU, AG, or BTC, you're generally less likely to give them up for something of marginal value, unlike valuing things in USDs or other fiat trash.

There is no difference between valuing something in "fiat trash" and in gold/bitcoins, because gold can be converted to "fiat trash".

Say $10 = 1 bitcoin.

Laptop: $300 fiat
30 bitcoins

Huh

No difference.

Actually there's a huge difference. Gold was $39.31 the year I was born. How many rolls of fiat TP does it take to purchase an Ozt of gold today?

1712

http://www.nma.org/pdf/gold/his_gold_prices.pdf

Inflation is a hidden tax. It moves slowly, but it's painfully obvious over time that it's eating your purchasing power.

To me, this is the biggest utility of Bitcoin and gold -- they protect me against inflation, and they do so very well.

In choosing one or the other, I personally put these risks in the balance:

- Gold may be a bit overpriced right now
- Governments will want to steal people's gold in the future (they already did once)
- Bitcoin is more volatile than gold

Therefore, I'm pursuing a balanced strategy with both.
sr. member
Activity: 434
Merit: 250
December 11, 2012, 08:51:54 AM
#29
I was referring to the need to create a P2P form of currency. And by "tied to the dollar" I meant we assess btc at their USD value that day. Its not like we think of them in units of gold or something.

It's funny you say that because I've been training myself to break my programming(brainwashing) as it relates to valuing everything in consistently devalued FRNs for some while now. I'm nearly there, though sometimes I still regress. Instead of fiat toilet paper I try to think of the value of everything in terms of Ozt of silver. Try it some time, it can be very enlightening. When you think of purchases in terms of exchanging something of intrinsic value like AU, AG, or BTC, you're generally less likely to give them up for something of marginal value, unlike valuing things in USDs or other fiat trash.

There is no difference between valuing something in "fiat trash" and in gold/bitcoins, because gold can be converted to "fiat trash".

Say $10 = 1 bitcoin.

Laptop: $300 fiat
30 bitcoins

Huh

No difference.

Actually there's a huge difference. Gold was $39.31 the year I was born. How many rolls of fiat TP does it take to purchase an Ozt of gold today?

1712

http://www.nma.org/pdf/gold/his_gold_prices.pdf

Inflation is a hidden tax. It moves slowly, but it's painfully obvious over time that it's eating your purchasing power.
vip
Activity: 1316
Merit: 1043
👻
December 11, 2012, 06:31:01 AM
#28
I was referring to the need to create a P2P form of currency. And by "tied to the dollar" I meant we assess btc at their USD value that day. Its not like we think of them in units of gold or something.

It's funny you say that because I've been training myself to break my programming(brainwashing) as it relates to valuing everything in consistently devalued FRNs for some while now. I'm nearly there, though sometimes I still regress. Instead of fiat toilet paper I try to think of the value of everything in terms of Ozt of silver. Try it some time, it can be very enlightening. When you think of purchases in terms of exchanging something of intrinsic value like AU, AG, or BTC, you're generally less likely to give them up for something of marginal value, unlike valuing things in USDs or other fiat trash.

There is no difference between valuing something in "fiat trash" and in gold/bitcoins, because gold can be converted to "fiat trash".

Say $10 = 1 bitcoin.

Laptop: $300 fiat
30 bitcoins

Huh

No difference.
sr. member
Activity: 434
Merit: 250
December 10, 2012, 03:20:32 PM
#27
I was referring to the need to create a P2P form of currency. And by "tied to the dollar" I meant we assess btc at their USD value that day. Its not like we think of them in units of gold or something.

It's funny you say that because I've been training myself to break my programming(brainwashing) as it relates to valuing everything in consistently devalued FRNs for some while now. I'm nearly there, though sometimes I still regress. Instead of fiat toilet paper I try to think of the value of everything in terms of Ozt of silver. Try it some time, it can be very enlightening. When you think of purchases in terms of exchanging something of intrinsic value like AU, AG, or BTC, you're generally less likely to give them up for something of marginal value, unlike valuing things in USDs or other fiat trash.
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
December 10, 2012, 04:54:07 AM
#26
And by "tied to the dollar" I meant we assess btc at their USD value that day. Its not like we think of them in units of gold or something.

So, are you likewise depressed that the Big Mac is "tied to the dollar"? Or your flatscreen TV?

You can express anything of value in terms of anything else of value. You could say that the Big Mac buys 3.14 dollars, instead of the other way around. That doesn't make it "tied to" the currency, just expressed in terms of that currency.

At the current value of Bitcoins, they're worth about 2/5ths of an ounce of silver each. Happy?
legendary
Activity: 896
Merit: 1000
December 10, 2012, 03:34:18 AM
#25
I'm sorry but I haven't the faintest what you are on about, your post isn't coherent enough to really convey anything. Better luck next time.
Alright, apparently I have to simplify it for you.
Before Eisenhower eliminated the Silver Standard, every $note represented a certain bit of silver. If you had $5 you could go to the bank and get $5 in silver (as in silver certificates).
Now, our (USA) currency is tied to NOTHING. Literally it is a piece of paper. What gives things value? Utility and scarceness. Obviously dollar bills don't have much utility. But they have a certain degree of rarity. However, the Fed Rsrv can print as much money as it wants, causing inflation and making $1 worth less.
Bottomline: only FINITE forms of currensy work (gold, silver, etc). Our money system is INFINITE and therefore gives way to inflation.
make more sense?
I understand your view of fiat. Others have this view as well.  You may be right, you may be wrong (regarding your assertion that "only FINITE forms of currency work"), only time will tell.

What I don't understand is what you meant when you said: "First of all, the need to create Bitcoins. But even more than that-bitcoins are tied to the USD."
I was referring to the need to create a P2P form of currency. And by "tied to the dollar" I meant we assess btc at their USD value that day. Its not like we think of them in units of gold or something.
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
December 08, 2012, 11:26:59 PM
#24
I think it's sad that I can't get decent Thai food in northern California.

If enough people also think this is sad, and you can cook (or at least, can hire a good cook), maybe you should scratch that itch yourself. Start a restaurant. Call it Thai Mai Shu or some such.
sr. member
Activity: 420
Merit: 250
December 08, 2012, 10:20:49 PM
#23
I think it's sad that I can't get decent thai food in norther california.
newbie
Activity: 27
Merit: 0
December 08, 2012, 05:13:42 PM
#22
I'm sorry but I haven't the faintest what you are on about, your post isn't coherent enough to really convey anything. Better luck next time.

lol. i love it. many references but no facts or arguments Cheesy
legendary
Activity: 1372
Merit: 1000
December 07, 2012, 11:52:49 PM
#21
:-) http://knowyourmeme.com/memes/has-anyone-really-been-far-even-as-decided-to-use-even-go-want-to-do-look-more-like

in reply to OP -- been sitting on the idea of making this post for a few days.

LOL thanks for the definition.
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
newbie
Activity: 56
Merit: 0
December 07, 2012, 05:40:36 PM
#19
:-) http://knowyourmeme.com/memes/has-anyone-really-been-far-even-as-decided-to-use-even-go-want-to-do-look-more-like

in reply to OP -- been sitting on the idea of making this post for a few days.
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
December 07, 2012, 05:34:57 PM
#18
Has anyone really been far even as decided to use even go want to do look more like?

lol... not your most coherent post, man. Want to re-arrange those words into a sentence?

I mean, did the DMT just kick in, or what?
newbie
Activity: 56
Merit: 0
December 07, 2012, 05:22:41 PM
#17
Has anyone really been far even as decided to use even go want to do look more like?
legendary
Activity: 1246
Merit: 1016
Strength in numbers
December 07, 2012, 04:35:45 PM
#16
I'm sorry but I haven't the faintest what you are on about, your post isn't coherent enough to really convey anything. Better luck next time.
Alright, apparently I have to simplify it for you.
Before Eisenhower eliminated the Silver Standard, every $note represented a certain bit of silver. If you had $5 you could go to the bank and get $5 in silver (as in silver certificates).
Now, our (USA) currency is tied to NOTHING. Literally it is a piece of paper. What gives things value? Utility and scarceness. Obviously dollar bills don't have much utility. But they have a certain degree of rarity. However, the Fed Rsrv can print as much money as it wants, causing inflation and making $1 worth less.
Bottomline: only FINITE forms of currensy work (gold, silver, etc). Our money system is INFINITE and therefore gives way to inflation.
make more sense?
I understand your view of fiat. Others have this view as well.  You may be right, you may be wrong (regarding your assertion that "only FINITE forms of currency work"), only time will tell.

What I don't understand is what you meant when you said: "First of all, the need to create Bitcoins. But even more than that-bitcoins are tied to the USD."

Didn't you know anything you can buy with money gets part of that money's money-ness infused in it?

It's a problem I often have with chairs. This chair I am in is so comfortable, but I'm dismayed that it is tied to the money I bought it with which greatly reduces it's chairy-ness.
legendary
Activity: 3472
Merit: 4801
December 06, 2012, 10:03:13 AM
#15
I'm sorry but I haven't the faintest what you are on about, your post isn't coherent enough to really convey anything. Better luck next time.
Alright, apparently I have to simplify it for you.
Before Eisenhower eliminated the Silver Standard, every $note represented a certain bit of silver. If you had $5 you could go to the bank and get $5 in silver (as in silver certificates).
Now, our (USA) currency is tied to NOTHING. Literally it is a piece of paper. What gives things value? Utility and scarceness. Obviously dollar bills don't have much utility. But they have a certain degree of rarity. However, the Fed Rsrv can print as much money as it wants, causing inflation and making $1 worth less.
Bottomline: only FINITE forms of currensy work (gold, silver, etc). Our money system is INFINITE and therefore gives way to inflation.
make more sense?
I understand your view of fiat. Others have this view as well.  You may be right, you may be wrong (regarding your assertion that "only FINITE forms of currency work"), only time will tell.

What I don't understand is what you meant when you said: "First of all, the need to create Bitcoins. But even more than that-bitcoins are tied to the USD."
legendary
Activity: 896
Merit: 1000
December 06, 2012, 04:09:57 AM
#14
I'm sorry but I haven't the faintest what you are on about, your post isn't coherent enough to really convey anything. Better luck next time.
Alright, apparently I have to simplify it for you.
Before Eisenhower eliminated the Silver Standard, every $note represented a certain bit of silver. If you had $5 you could go to the bank and get $5 in silver (as in silver certificates).
Now, our (USA) currency is tied to NOTHING. Literally it is a piece of paper. What gives things value? Utility and scarceness. Obviously dollar bills don't have much utility. But they have a certain degree of rarity. However, the Fed Rsrv can print as much money as it wants, causing inflation and making $1 worth less.
Bottomline: only FINITE forms of currensy work (gold, silver, etc). Our money system is INFINITE and therefore gives way to inflation.
make more sense?
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
December 05, 2012, 10:18:11 PM
#13
GreenJew (no offense)
If you mean no offense, then stop using "jew" like a dirty word.

Also, if you're referring to Greenspan, he hasn't been Fed Chairman since 2006.

Yeah, it's Helicopter Ben, now.
legendary
Activity: 1904
Merit: 1002
December 05, 2012, 09:42:47 PM
#12
GreenJew (no offense)
If you mean no offense, then stop using "jew" like a dirty word.

Also, if you're referring to Greenspan, he hasn't been Fed Chairman since 2006.
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