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You are currently reading a thread in /g/ - Technology
how long until bitcoin becomes the world currency?
>>51757377
but isn't there a limited amount of bitcoin?
so...never.
>>51757384
technically theres limited amount of money you can print too.
>>51757384
>You need to print money indefinitely to have a real currency
I'll bet you think Obama's doing a great job too
>>51757384
Bitcoin is infinitely divisible.
>>51757377
About the same time that the government can fabricate arbitrary amounts of it.
>>51757384
>We're in debt and need money, let's just print more!!!
>wanting a currency with built-in deflation
have fun with your dead economy, faggot
>>51757459
>>51757528
Fucking retards.
>>>/basic-tutorial-of-todays-economics/
>>51757528
You have no idea what "debt" is.
National debt is not like your personal debt. Here's a little nugget for you to think about: it is impossible for the USA to ever go bankrupt.
>>51757653
But the US dollar can become so weak in comparison to other currencies that nobody wants to live in the US and it dies as a country.
People still care about bitcoin?
>>51757567
>>51757580
Is there a real reason why inflation or deflation should have any effect on the economy?
Are you one of those anons who seriously think inflation makes people feel slightly happier, therefore influencing them to spend more?
>>51757711
nice double dubs
>>51757702
The US spans a continent, it has resources and a relatively small population.
>>51757840
So does Russia, so why isn't the Ruble as strong as a US dollar?
>>51757897
because of your motherse pussy
>>51757809
For a currency you want a slight amount of deflation so people actually spend their money. If the current deflates people will just hold on and speculate it (sorta like they're doing now). After all, why would you spend something that's only ever going to appreciate
>>51757897
Because russian political system is a fucking joke.
>>51757897
The Russian economy is tiny.
>>51757377
Print out your bitcoin wallet. Delete your wallet. Burn the printout. You just destroyed currency irrevocably.
Put your gold coin in your wallet. Your gold coin falls out through a hole. Later, it's found by someone else.
Bitcoin will never become dominant or even mainstream since value can be 100% lost.
Never.
>libertarian_tears.jpg
>>51758073
The amount of available gold is virtually infinite.It's a question of being technologically available.
>>51757971
>Why would you spend something that's only ever going to appreciate
People are spending and trading bitcoins today, why should anything be different 50 years from now?
>>51757897
>So does Russia, so why isn't the Ruble as strong as a US dollar?
1) The United States is one of the most stable countries on the planet.
2) The United States actually has a TREMENDOUS amount of wealth, despite our large collective debts.
3) The US has relatively low corruption, making investment (e.g. building a warehouse, factory, mine, etc.) straightforward.
4) The US has the best military in the world, ultimately controlled by a stable system (i.e. no coups).
5) The US has the most advanced tax code in the world, and some of the best legal framework in the world. Ties back to the corruption levels. Our system isn't perfect, but you don't have to worry about, for example, some government crony simply taking ownership of your factory like in China.
And tons of other reasons. Look at how far down their GDP is!
>>51758117
Uh. Duh? Why did you even write that?
>how long until bitcoin becomes the world currency?
>implying 21 million anything is enough to handle the financial requirements of a world with 7.4 billion people and more every day
>implying that even with microBTC and nanoBTC it would prove useful
>get the fuck out you dumbass fool
>>51758401
Basing an economy on gold is retarded.
>>51758131
Only one of those are true. People aren't buying things with bitcoin. They're treating it as some sort of investment vehicle. You see this mentality when you hear people say, "buy bitcoin, its the future", " buy bitcoin, it'll reach 10k."
The thing about an deflationary currency is that there is no reason to spend money other than necessity. If your dollar today buys twice as much in 1 year, you'd be stupid to spend it now. This encourages saving, but your economy suffers just like the nonexistent bitcoin economy
>>51758529
How does that subjective opinion have anything to do with my point about Bitcoin?
>>51758754
>buy bitcoin, it'll reach 10k."
I think there was a leaked Bank of America paper that concluded that Bitcoin's price would settle in the $1000 - $1200 range.
Not that it means a whole lot, but it certainly is more reputable than random Bitcoin promoter claims on the Interwebs.
>>51758792
>bank of America paper on Bitcoin concludes that it will fail
>harvard paper on student loans confirms that they are incredibly beneficial
>ford paper on Chevrolet determines that they will be out of business in 10 years
>mcdonalds paper concludes that burger king is unhealthy
>>51757971
You mean a slight amount of inflation?
>>51757377
how would you pay taxes with a currency based on anonymity?
>>51759540
>bank of America paper on Bitcoin concludes that it will fail
$1,000 is failing? So what do you call the current ~$300 price? Success?
If the Bank of America paper is real, it's hugely optimistic about Bitcoin.
>>51758389
Then why is the US printing money out the ass and weakening its currency while Russia isn't?
Is it because the US gov't/treasury dept. feels there's nothing to lose?
>>51760245
Have the IRS, NSA, and major credit companies calculate how much each person must pay, then let anyone pay off anybody's taxes. Whoever isn't paid off gets penalized.
>>51759540
Do you believe that Bank of America have any control over Bitcoin? They want people to use American federal reserve notes, not Bitcoins.
>>51757840
>roughly the size and population of Europe
Retard
>>51757377
NaN
>>51761184
but thousands of miles less of red tape to build a business across the US. also, oil.
>>51758073
>Hurr durr
>gold is the standard
>not knowing that all the money in the world is just a number in some database
>paper money has no actual trading value
>>51758389
>The US has relatively low corruption, making investment (e.g. building a warehouse, factory, mine, etc.) straightforward.
oh it's corrupt alright, just biased towards/in benefit of the companies building those warehouses, factories, and mines
>>51757498
You have no idea what a Santoshi is, right?
Top kekker
>>51760245
>ymous 12/08/15(Tue)14:48:08 No.51758401▶>>51758529
>>>
Yet, you have no idea what the blockchain is.
Anonymity on the blockchain if only you can remain with a cloacked wallet. Anything you would transfer with a 'declared' wallet will be open to everyone to see.
https://blockchain.info/tx/c9a4f453ec2780c087d24014c0b4c6922a45a0b0e730ea38c5b9bcde43e69064
Its IRS dream come true.
.
>>51757377
What happened to Dogecoin and other meme monies?
>>51760332
>printing money out the ass and weakening its currency
Because it can be alright to have currency not worth as much in comparison to other currencies. We also don't cook our books(as poorly/obviously) like say, China.
>>51762271
take a guess
