Bitcoin and everything associated with it. The home of cryptomaniacs and their adversaries. - page 9

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C-4:

to:TheExpert

Let me try to explain the bitcoin problem with my fingers. Suppose I produced a box of matches and sold it to, say, Mishek for 1 bitcoin. Now I have 1 bitcoin, and Mishek has a box of matches. All the currency we have is 1 unexchangeable bitcoin. Now you come to our market and start selling a car. The car is of course more expensive than a box of matches, but the volume of currency does not allow you to set an adequate price. Then you agree to sell it for all the money we have. I have all the money now and I buy the car from you for one bitcoin. From that moment on, the bitcoin value has automatically increased by tens of thousands of times. Having received 1 bitcoin for your car, you will correctly estimate that a box of matches is 1/1,000,000 worth of the car, and when you want a light, you will offer Mishek 0.000,001 bitcoins for his box. And then Mishek will realize that someone has screwed him big time, because he was left with a product that suddenly became 1,000,000 times cheaper. I, on the other hand, will be rubbing my hands because I have actually exchanged a box of matches for a car. And I have been able to do all of this with an issue-free monetary system. The example is exaggerated, but the point is the same: without emission the currency would go into uncontrollable growth, which would only benefit the holders of the currency and not the producers of goods, which by itself is a clear indication of its speculative nature.

unfortunately (or fortunately) the process has been set in motion

so the offended / happy ones will appear 100%.

A Canadian sold a house in the mountains for 6,700 bitcoins.

[Igor Konyashin]

sergeev:

Unfortunately (or fortunately) the process has started

so the offended / happy ones will turn up 100%.

A Canadian sold a house in the mountains for 6,700 bitcoins.

The very first comment there:

"That's nothing, we have half of the country invested in another pseudo-currency "))))

I'm not... I'm not a bitcoin opponent or supporter, I'm just curious how it all develops and how it will end (if it does)

[михаил потапыч]

i_logic:

There's the very first comment:

That's OK, we have half the country investing in another pseudo-currency . ru.wikipedia.org/wiki/MMM )))

I like it ))) ---- MMM seems to be working now and even accept bitcoins

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i_logic:

There's the very first comment:

That's nothing, we have half the country invested all the money in another pseudo-currency ru.wikipedia.org/wiki/MMM )))

that comment is nonsense and has nothing to do with bitcoin per se.

Bitcoin is a currency, and it too can be used in Ponzi schemes.

Hryvnia, Belarusian ruble are also means of exchange, and they can be used in pyramids too. These are such bonuses in addition.

An American was accused of creating a pyramid scheme out of bitcoins

[TheXpert]

Mischek:
Andryukha, don't read our modern Hazin heresians.

Are you talking to me? I don't read them.

C-4:

You are confused, economic growth is accompanied by inflation, not deflation.

I mean bitcoin, it's not how you're all used to it.

[Vasiliy Sokolov]

Mischek:

First, you have nothing to buy with. Your bit is worth one matchbox and no one will give you enough for it to buy a car.

Second, in your example, the owner of the box is poorer now that it has become cheaper, like the deflationary old woman, but it is not like that either.

He is not poorer because the box was previously exchanged for two loaves of bread, and it is exchanged for two loaves of bread now.

In fact, I exchanged one box of matches for a car. The monetary system allowed me to do this. If I profited, someone else lost. Apart from the owner of the box of matches, there is no one else in the system, so he lost. The system creates an asymmetry: it is more profitable to be in the cache than to keep the goods on hand. This is not right. The risk must be the same for everyone. Without issuance, this is not possible.

[TheXpert]

i_logic:
I'm not here... not a bitcoin opponent or supporter, I'm wondering how this is going to develop and how it will end (if it does)

Honestly? I think bitcoin will be replaced by a currency based on the same principle, but let's say a new generation.

[михаил потапыч]

C-4:
The fact is, I traded one box of matches for a car.

WHERE ?! Did I miss something? Did you find a fool who gave you his car for a box of matches?

No, that's cool.)

[TheXpert]

C-4:

Enough with the matches. The bitcoin economy is open, so all attempts to put it in a primitive box are pointless.

[TheXpert]

Mischek:

Nah, that's cool.)

Two pizzas for 10k bitcoins :)