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Bitcoin

Rexedgar

Rexedgar

Yo-Semite!
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I was watching “Full Measure” with Sharyl Attkisson. There was a segment about Bitcoin featuring this guy as to point man. He is very bullish on the crypto currency. My initial reaction was, “is this the best spokesman they could find?”IMG_3088.webpIMG_3087.webp

Makes me want to rush out and by some!
 
Rexedgar said:
I was watching “Full Measure” with Sharyl Attkisson. There was a segment about Bitcoin featuring this guy as to point man. He is very bullish on the crypto currency. My initial reaction was, “is this the best spokesman they could find?”
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I'm pretty critical of crypto. But even I know there are some fairly presentable Crypto Bros out there.

I'd say the problem is less about who advocates for crypto, and more about the poor quality of "Full Measure."
 
Rexedgar said:
I was watching “Full Measure” with Sharyl Attkisson. There was a segment about Bitcoin featuring this guy as to point man. He is very bullish on the crypto currency. My initial reaction was, “is this the best spokesman they could find?”View attachment 67557537View attachment 67557538

Makes me want to rush out and by some!
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I'm just glad I sunk my money into TMTG instead.

MAGA.
 
Econ4every1 said:
So explain to us the cause of those examples, Zimbabwe and I presume Weimar Germany, then tell us how crypto would solve that problem?
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The cause of hyperinflation is governments printing excessive money without economic growth to support it, leading to a loss of trust in the currency. That's why they burn it, or just toss it in the street. Private currencies resist inflation by removing central banks from the equation. Many have a fixed supply cap or use controlled issuance to prevent devaluation. For example, bitcoin is limited to 21 million coins, unlike fiat currencies, which can be printed indefinitely. Monero, my favorite privacy coin, does not have a supply cap but instead uses tail emission, a method that keeps inflation predictable and low over time.

I'm pretty sure you know all of this already.
 
aociswundumho said:
The cause of hyperinflation is governments printing excessive money without economic growth to support it, leading to a loss of trust in the currency. That's why they burn it, or just toss it in the street. Private currencies resist inflation by removing central banks from the equation. Many have a fixed supply cap or use controlled issuance to prevent devaluation. For example, bitcoin is limited to 21 million coins, unlike fiat currencies, which can be printed indefinitely. Monero, my favorite privacy coin, does not have a supply cap but instead uses tail emission, a method that keeps inflation predictable and low over time.

I'm pretty sure you know all of this already.
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Who limits Bitcoin to 21MM coins?

Bet some people will be surprised to find out that…won’t be regulated.
 
aociswundumho said:
The cause of hyperinflation is governments printing excessive money without economic growth to support it
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Quite right, so is it the reduction in growth (and subsequent decrease in productivity) or money printing that caused the problem?

If Weimar had just refused to print more money, do you think the results would have been better?
 
Econ4every1 said:
Quite right, so is it the reduction in growth (and subsequent decrease in productivity) or money printing that caused the problem?

If Weimar had just refused to print more money, do you think the results would have been better?
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Instead they could have raised taxes and sold bonds. And they certainly could have renegotiated their reparations debt.

It was going to be a bad outcome no matter what they did, but the hyperinflation was the wrong choice. It wiped out the middle class and gave rise to Hitler. Good luck suggesting an outcome worse than that.
 
Hatuey said:
Ah yes, the problem of Americans carrying billion dollar bills, or carts of money through the streets.
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To be fair, it could happen with high tariffs, minimal taxation with no revenue coming into the coffers, and governmental collapse. So he’s not wrong.
 
Mining bitcoin uses a lot of energy.
 
aociswundumho said:
Instead they could have raised taxes and sold bonds
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With what money? Again if the government had not created any new money. And they did raise taxes.

  • War Debt: Germany had financed the war largely through borrowing, expecting to pay it back by winning and extracting reparations from the Allies. Defeat meant they were saddled with enormous debt and faced reparations themselves.
  • Loss of Territory: The Treaty of Versailles stripped Germany of significant territory, including resource-rich areas like Alsace-Lorraine (coal and iron) and parts of Upper Silesia (coal and zinc). This reduced their industrial capacity and ability to generate revenue.
  • Blockade: The Allied naval blockade, which continued even after the armistice until the Treaty of Versailles was signed, severely restricted imports of food and raw materials. This caused widespread malnutrition and hampered industrial production.
  • Demobilization: Millions of soldiers returned to a shattered economy with few jobs available.
  • Spanish Flu: The global influenza pandemic of 1918-1920 hit Germany hard, further weakening the population and workforce.
So yeah, just raise taxes and sell bonds. :rolleyes:

aociswundumho said:
And they certainly could have renegotiated their reparations debt.
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This statement alone exposes your ignorance, as Germany made several attempts to renegotiate.

Do you just make this stuff up expecting no one will know what happened or might look it up?
 
aociswundumho said:
Lots of businesses accept bitcoin, and their numbers are only going to go up.
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Accepting BTC is not the same as holding it. The vast majority of businesses that accept bitcoin simply convert them instantly back to dollars. Why? Because they don't want BTC, they want dollars.

So BTC is more of a payment network, than a currency.
 
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