I am an anarchist - ask me anything.

#426
#426
n_huffhines said:
It was simply a rebuttal to the notion that non-government currency would be volatile.

There would be some currencies that wouldn't be subject to inflation (bitcoin). May the best currency win.
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1) inflation isn't really currency volatility

2) how in the world is bitcoin not subject to inflation?
 
#428
#428
SpaceCoastVol said:
The dollar is a lot more legitimate than bitcoin by a long shot, and it is quite strong against the Euro and the Yen. Not saying too much I admit, but hardly failing.
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The point is that the dollar is one of the most reliable world currencies and even its value is steadily declining. Most currencies are crap. If a free market currency isn't perfect that's fine. Are you holding government currencies to same standard?
 
#430
#430
n_huffhines said:
It was simply a rebuttal to the notion that non-government currency would be volatile.

There would be some currencies that wouldn't be subject to inflation (bitcoin). May the best currency win.
Click to expand...

wait wait wait bitcoin has gone through some extreme change. the first practical usage of a bitcoin was to buy a pizza in what would now be worth like $500,000 dollars of bitcoins. you want to rephrase your statement? if it goes up that fast it can come down that fast.
 
#432
#432
n_huffhines said:
The point is that the dollar is one of the most reliable world currencies and even its value is steadily declining. Most currencies are crap. If a free market currency isn't perfect that's fine. Are you holding government currencies to same standard?
Click to expand...

Are you referring to inflation as a declining value? That concept might be true in a sense, but I'll wager a month's salary that you are making more than you were in 1982. I know I am by a factor of... well... a lot. Now whether or not it is a factor or 200% is up for debate, but in a stable economy wages should keep up with inflation. Some do, some do not, that is true.

I think you sometimes let your desire for ancap frame your point of reference so much that you see what you want to see. I admire your passion for the subject even if I don't agree with you.
 
#438
#438
LouderVol said:
wait wait wait bitcoin has gone through some extreme change. the first practical usage of a bitcoin was to buy a pizza in what would now be worth like $500,000 dollars of bitcoins. you want to rephrase your statement? if it goes up that fast it can come down that fast.
Click to expand...

Yes, money has the value people put on it. When someone exchanged it for a pizza, it was the first real vote of confidence for the currency. It wasn't forced on anyone by government decree. As bitcoin continued to gain confidence, its value rose.

The best currency will have the confidence of the people, and that's why its value will be more constant. And then you will still have the option to choose from various other currencies, if you like.
 
#439
#439
SpaceCoastVol said:
Are you referring to inflation as a declining value? That concept might be true in a sense, but I'll wager a month's salary that you are making more than you were in 1982. I know I am by a factor of... well... a lot. Now whether or not it is a factor or 200% is up for debate, but in a stable economy wages should keep up with inflation. Some do, some do not, that is true.

I think you sometimes let your desire for ancap frame your point of reference so much that you see what you want to see. I admire your passion for the subject even if I don't agree with you.
Click to expand...

That has little to do with the power of the dollar. We are wealthier because the economy is growing. We'd be even wealthier if our money wasn't being devalued.
 
#441
#441
n_huffhines said:
Yes, money has the value people put on it. When someone exchanged it for a pizza, it was the first real vote of confidence for the currency. It wasn't forced on anyone by government decree. As bitcoin continued to gain confidence, its value rose.

The best currency will have the confidence of the people, and that's why its value will be more constant. And then you will still have the option to choose from various other currencies, if you like.
Click to expand...

So, you're telling us the "best" currency is subject to the ebbs and flows of people's "confidence"? Really?
 
#443
#443
n_huffhines said:
Yes, money has the value people put on it. When someone exchanged it for a pizza, it was the first real vote of confidence for the currency. It wasn't forced on anyone by government decree. As bitcoin continued to gain confidence, its value rose.

The best currency will have the confidence of the people, and that's why its value will be more constant. And then you will still have the option to choose from various other currencies, if you like.
Click to expand...

A confidence-based economy is very dangerous. As soon as people start losing confidence, it all comes down. A real-value economy is much less fragile.
 
#445
#445
LouderVol said:
wait wait wait bitcoin has gone through some extreme change. the first practical usage of a bitcoin was to buy a pizza in what would now be worth like $500,000 dollars of bitcoins. you want to rephrase your statement? if it goes up that fast it can come down that fast.
Click to expand...

The dollar can be regulated the same as bitcoin. Just crank down on the fed. There is absolutely nothing to prevent further release of bitcoin past the 21 mil they are planning. If it's electronic (much the same as paper) it can be manipulated. That's why a gold based economy worked and would work better. There is basically a limited supply.

There is also planned doubling which devalues bitcoin by 50% each time.
 
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#446
#446
n_huffhines said:
That has little to do with the power of the dollar. We are wealthier because the economy is growing. We'd be even wealthier if our money wasn't being devalued.
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Yeah but inflation is a natural thing. And the economy ain't growing all that well. Anemic is the term. But that's W's fault I'm sure (I know you aren't saying that)
 
#447
#447
SpaceCoastVol said:
Yeah but inflation is a natural thing. And the economy ain't growing all that well. Anemic is the term. But that's W's fault I'm sure (I know you aren't saying that)
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We're talking about a 33 year period where we saw phenomenal economic growth. Probably as great as any period in history. With all due respect, WTF are you talking about?
 
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