768000+ entries in 0.461s
mjr_: there is a fixed amount of "stuff" in
the world
mjr_: here is
the basis of money
cerelenius: everyone who gained in bitcoin
there has
to be a equal loser
mjr_: i used it
to hammer nails
mjr_: i saw a hammer
that
thought it was a screwdriver
cerelenius: mjr: money is sterile, people
think if
they put money in a bank vault it will have children
cerelenius: mjr: no i dont
think
that,
the system does hence its FLAW
jurov: well,
they'll
take
the home instead
mjr_: you seem
to
think, and correct me if i'm wrong,
that money serves a purpose outside of me buying
things with it
mjr_: average american up
to 150k can't come up with 2 grand by month end
cerelenius: its difficult
to
take balances in america because america
tends
to have stronger rule of law
then most of europe
jurov: they can't
take bank accounts balances like in eu
cerelenius: mjr one
thing i know is youll be poor and stupid forever
mjr_: that is what you don't get...if i
took away 90% of
the wealth of
the entire world...the system wouldn't have changed at all
MisterE: people are jumping in btc-e
trollbox haha
jurov: so no problem
there
mjr_: are you saying
that no one will be able
to
then buy berak?
dignork: ok, so
they don't have
to be repid, right?
cerelenius: the only
thing
that will hold up will be paper USDs
cerelenius: one day people are going
to wake up and see
their bank accounts reduced by 95%
cerelenius: dignork: yep
thats what happened in 08
mjr_: make something of value, and
the rest doesn't matter
dignork: nobody repayed
them,
they just vanished
cerelenius: dignork: during debt collapse, USDs get deleted and
the left over ones swell in value
mjr_: all
the buillshit
that goes on, is irrelevant
mjr_: if you can do
those
two
things
dignork: cerelenius market crashes, happened like 5
times in last 10 years, each
time
tons of usd where DELETED
mjr_: trade it
to someone else for something of value
cerelenius: you would have a
total implosion of
the worldwide banking system
mjr_: i have heard of 0 countries being removed from
the planet because
they went broke
mjr_: where
the money (shocker) NEVER gets paid back
mjr_: but
there is
this
thing called bankruptcy
mjr_: you seem
to
think
that magically dollars appear
to pay back debts
cerelenius: because
they have
to be repaid with interest
mjr_: at no point does a currency become SO worthless
that it gets value
cerelenius: but DEFLATIONARy for rest of
their life
mjr_: so your saying
that
the value of
the dollar depends on how many of
them
their are
cerelenius: jurov:
those 5
trillions have
to be repaid
Vexual: is anyone lending
to you?
jurov: so
there 5
trillions are as good as non existing
dignork: cerelenius you can (will have
to) release it into pension funds
cerelenius: they could only lend against
the LAST remaining collateral
cerelenius: the banks couldnt lend it becuase
there was no collateral left
mjr_: and if no one wants
to borrow
cerelenius: borrowers were
too broke
to borrow anymore
mjr_: yes,
that is exactly it jurov
mjr_: like if i print more, but still have
the same basket of goods, at a certain point, i can buy more
mjr_: he apparently
thinks
that math doesn't apply
to dollars or something
jurov: the banks
that got it returned it
to fed or bought back bonds
mjr_: the apples still sit
there
mjr_: if i print a
trillion
jurov: cerelenius
the money was not actually printed
cerelenius: to produce
the paper
to print on in
time
mjr_: i
think
that must be it
mjr_: except
then you said "yes it can inflate further
mjr_: you are saying
that a dollar cannot become worth lesss
mjr_: its like
the CPI has never moved
cerelenius: i
told you i can
throw
trillions of dollars around and nothing happens
mjr_: no, i
think
that
the market sets
their value
dignork: cerelenius create GOOD monetary system
that suits you
mjr_: you seem
to
think
they obey some law
cerelenius: jurov: im not argueing
the fiat system being better
mjr_: to
the extent i want dollars, i will allow people
to pay me in dollars
chetty: well
the fed isn't printing btc by
the bucket load
cerelenius: dollar demand is always higher
then supply
mjr_: i am not seeing
the difference
cerelenius: btc will make a handful rich and everyone else will wake up one day realizing
they benefited NOTHING from it
mjr_: or i guess
to put it in simple
terms "to
the extent
to which someone wants a currency, based on how much of it
there is,
that will define its value"
Vexual: you're not
trolling, i wrote
the book. you have personality disorder
cerelenius: i explained
to you what gives dollars a bid
mjr_: you do realize i could cease accepting dollars
tomorrow right?
mjr_: trolls love
to get fed
mjr_: there is no fundamental difference so far
to bitcoin, you seem
to
think
that gox is part of bitcoin or something
mjr_: to buy
things, sell
things, and
to pay off debts
mjr_: so if only a few people use bitcoin
to
transact
their business, it'll be
the same as
the romanian lei
mjr_: so
they haven't adopted it
mjr_: the vast majority of people in
the world may never
touch a dollar