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Message
re: Bitcoin is Gresham's law in practice
Posted on 1/10/21 at 7:49 am to TheDude854
Posted on 1/10/21 at 7:49 am to TheDude854
quote:The supply of dollars has went up insanely in 2020. 23% of the entire money supply was printed in 2020. If you don’t have a problem with that, you have some very hard questions to ask yourself:
Then again, the supply of dollars has “increased insanely” in the last 12 yrs, so we’ll see how that ends up
- Why even tax anyone at all if printing has no consequences?
- Why not just give everyone $3,000 a month UBI if there are no consequences?
A reckoning is coming:
0
Posted on 1/10/21 at 8:24 am to Mud_Till_May
quote:
quote:
Bitcoin has a finite, unchangeable supply.
If that is true, then how was it created?
It was created in a manner which states the total amount of new bitcoins available in each and every year. The supply is fixed.
Posted on 1/10/21 at 8:45 am to Mud_Till_May
You don’t like bitcoin...and now drugs? Now I know you’re trolling
Posted on 1/10/21 at 8:52 am to Mud_Till_May
quote:
The US backed note which is a fiat currency was used to push out the gold coin.
Your entire premise is based on a flawed opening.
Posted on 1/21/21 at 8:42 am to Mud_Till_May
Posted on 1/21/21 at 8:47 am to Mud_Till_May
Imagine thinking USD was real money. Lol, you have a lot to learn.
The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.
The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.
Posted on 1/21/21 at 9:18 am to Sneaky__Sally
Bitcoin supply is fixed but what distinguishes it from ripple, tether, ether or others that effectively increase the supply? The dollar is backed ultimately by the combined gdp of the US, the Yuan by the combined chinese gdp.
Posted on 1/21/21 at 9:22 am to Mud_Till_May
quote:
If that is true, then how was it created?
If you did not know that it is finite and do not know how it was created then you really had no idea what you were talking about in starting this thread. It’s the OT, so you are doing it right!
Posted on 1/21/21 at 9:26 am to Turftoe
quote:
There’s 21 million no more or less
Actually less. 7200 are sitting in a landfill.
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