Originally posted by vwdan
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BoE money printers are on fire
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"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain -
Originally posted by scooterscot View Post[Scooter being a moron]Comment
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Originally posted by Lance View Postwhen BTC was in its infancy the Argentinian peso was used as an example of why BTC could work.
BTC is volatile. But less volatile than the peso was at the time.
Where are the gains going forward do you think?"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Lance View Postcash is only worth anything relative to something else.
When inflation is low/stagnant, printing money makes more money but doesn't actually devalue it against real goods. So it's not lost as much value as has been printed.
The bitcoin speculative bubble is isolated from that to some degree by the fact that it's not a currency that can be used in normal day to day transactions due to the astronomical charges.“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”Comment
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Originally posted by scooterscot View Post
"The bitcoin speculative bubble is isolated from that to some degree by the fact that it's not a currency that can be used in normal day to day transactions due to the astronomical charges."
when it costs over 30$ (or whatever it is now) for a single transaction you can't use it to buy a coffee, a meal, a pint. Hence it's not a currency that can be used.See You Next TuesdayComment
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Originally posted by fullyautomatix View PostI am not a tulipcoin fan but Bitcoin has stayed relevant because it is priced in dollars and a lot of people in a lot of countries facing high inflation have hedged themselves by buying bitcoin. In countries like Argentina you cannot just buy dollars, so bitcoin has proved to be an easy alternative.Comment
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With all this printing an average house in UK will cost a million quid in a few years
zimbabwe on thames , here we come.Comment
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Originally posted by Lance View Postcos BTC has got more expensive.
Your GBP is pretty much the same against all other FIAT currencies (USD, EUR, CHF etc). So it's worth the same as it was.Comment
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I'm dead serious, can someone explain why all this printing or borrowing isn't causing inflation to go up, interest rates to go up and generally causing all sort of, well you know, bad stuff which is supposed to happen when you just make money out of thin air?
On the other hand, if all this magic making actually isn't so bad, why the hell has no one done it before to solve issues like poverty, homelessness, pumping money into pretty much every area that needs money etc.?Comment
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Originally posted by dsc View PostI'm dead serious, can someone explain why all this printing or borrowing isn't causing inflation to go up, interest rates to go up and generally causing all sort of, well you know, bad stuff which is supposed to happen when you just make money out of thin air?
On the other hand, if all this magic making actually isn't so bad, why the hell has no one done it before to solve issues like poverty, homelessness, pumping money into pretty much every area that needs money etc.?
The pound is down massively against eur and usd but that’s be the case for a while now. If you expecting food or diesel to fall in price that won’t happen but if this had not been tried then deflation would have happened because too much consumption took place in 2007Comment
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