Those coins can be collected, shared, or redeemed for a free Big Mac between August 3 and the end of the year.
Gold Standard ?
- blackeagle603
- Posts: 9772
- Joined: Tue Aug 19, 2008 4:13 am
Re: Gold Standard ?
In other news, a Big Mac backed coin.
"The Guncounter: More fun than a barrel of tattooed knife-fighting chain-smoking monkey butlers with drinking problems and excessive gambling debts!"
"The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of a republic;" Justice Story
"The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of a republic;" Justice Story
- evan price
- Posts: 1912
- Joined: Tue Aug 19, 2008 10:24 am
Re: Gold Standard ?
In the end crypto currencies are nothing more than a pyramid scheme that requires ever more stickers to pay off early investors.
I suppose you could make that observation about fiat but if it all goes to hell at least you can wipe your ass with fiat.
I suppose you could make that observation about fiat but if it all goes to hell at least you can wipe your ass with fiat.
Sic gorgiamus allos subjectatos nunc
http://ohioccwforums.org/
Ohioans for Concealed Carry:THE source for Ohio CCW information and discussion!
http://ohioccwforums.org/
Ohioans for Concealed Carry:THE source for Ohio CCW information and discussion!
-
- Posts: 1698
- Joined: Fri Jun 20, 2014 11:14 pm
Re: Gold Standard ?
A gold standard is inherently deflationary - much of the economic boom after 1492 was the boom in the money supply. By definition, any physical standard is. (Bitcoin is deflationary, by design, TMK.)
And, as a general rule, yes, all commodities get cheaper, faster than inflation. Market competition constantly drives innovation to lower costs. Barring when things break, those market forces are faster than inflation.
And, as a general rule, yes, all commodities get cheaper, faster than inflation. Market competition constantly drives innovation to lower costs. Barring when things break, those market forces are faster than inflation.
- blackeagle603
- Posts: 9772
- Joined: Tue Aug 19, 2008 4:13 am
Re: Gold Standard ?
In the end crypto currencies are nothing more than a pyramid scheme that requires ever more stickers to pay off early investors.
remind me again how much worse that is than the USD? /asking for a friend/
...and nevermind coins like BTC are limited in total qty to be produced. How does that fit with the pyramid scheme analogy.
<Not arguing -- am enquiring, seeking better understanding>
"The Guncounter: More fun than a barrel of tattooed knife-fighting chain-smoking monkey butlers with drinking problems and excessive gambling debts!"
"The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of a republic;" Justice Story
"The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of a republic;" Justice Story
- evan price
- Posts: 1912
- Joined: Tue Aug 19, 2008 10:24 am
Re: Gold Standard ?
Crypto is the labor theory of value expressed literally.blackeagle603 wrote: ↑Fri Dec 10, 2021 4:50 pmIn the end crypto currencies are nothing more than a pyramid scheme that requires ever more stickers to pay off early investors.
remind me again how much worse that is than the USD? /asking for a friend/
...and nevermind coins like BTC are limited in total qty to be produced. How does that fit with the pyramid scheme analogy.
<Not arguing -- am enquiring, seeking better understanding>
"I expended so much resources doing random computing that I gave it a name and claim its worth something."
Pyramid scheme because the only way to make money is to convince other people that it will be worth more money later. And so on.
Sic gorgiamus allos subjectatos nunc
http://ohioccwforums.org/
Ohioans for Concealed Carry:THE source for Ohio CCW information and discussion!
http://ohioccwforums.org/
Ohioans for Concealed Carry:THE source for Ohio CCW information and discussion!
- blackeagle603
- Posts: 9772
- Joined: Tue Aug 19, 2008 4:13 am
Re: Gold Standard ?
So the question still remains... how does that differ from the USD? Other than the unbroken history of the USD losing value over time.Pyramid scheme because the only way to make money is to convince other people that it will be worth more money later. And so on.
I'm totally good with Big Mac coins in the meantime -- at least til August 3rd.
I'll gladly pay you on Tuesday for a hamburger today.
"The Guncounter: More fun than a barrel of tattooed knife-fighting chain-smoking monkey butlers with drinking problems and excessive gambling debts!"
"The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of a republic;" Justice Story
"The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of a republic;" Justice Story
-
- Posts: 1698
- Joined: Fri Jun 20, 2014 11:14 pm
Re: Gold Standard ?
Fiat is backed by the military ability, and resources of the central govt.
- evan price
- Posts: 1912
- Joined: Tue Aug 19, 2008 10:24 am
Re: Gold Standard ?
My statement still stands about the labor theory of value related to crypto.blackeagle603 wrote: ↑Fri Dec 10, 2021 8:55 pmSo the question still remains... how does that differ from the USD? Other than the unbroken history of the USD losing value over time.Pyramid scheme because the only way to make money is to convince other people that it will be worth more money later. And so on.
I'm totally good with Big Mac coins in the meantime -- at least til August 3rd.
I'll gladly pay you on Tuesday for a hamburger today.
And with fiat when it collapses you can still wipe your ass with it. Crypto you've got nothing.
Sic gorgiamus allos subjectatos nunc
http://ohioccwforums.org/
Ohioans for Concealed Carry:THE source for Ohio CCW information and discussion!
http://ohioccwforums.org/
Ohioans for Concealed Carry:THE source for Ohio CCW information and discussion!
- HTRN
- Posts: 12401
- Joined: Wed Aug 20, 2008 3:05 am
Re: Gold Standard ?
All currencies devalue over time, it's called inflation.blackeagle603 wrote: ↑Fri Dec 10, 2021 8:55 pmOther than the unbroken history of the USD losing value over time.
HTRN, I would tell you that you are an evil fucker, but you probably get that a lot ~ Netpackrat
Describing what HTRN does as "antics" is like describing the wreck of the Titanic as "a minor boating incident" ~ First Shirt
Describing what HTRN does as "antics" is like describing the wreck of the Titanic as "a minor boating incident" ~ First Shirt
- blackeagle603
- Posts: 9772
- Joined: Tue Aug 19, 2008 4:13 am
Re: Gold Standard ?
Evan FTWAnd with fiat when it collapses you can still wipe your ass with it. Crypto you've got nothing.
"The Guncounter: More fun than a barrel of tattooed knife-fighting chain-smoking monkey butlers with drinking problems and excessive gambling debts!"
"The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of a republic;" Justice Story
"The right of the citizens to keep and bear arms has justly been considered, as the palladium of the liberties of a republic;" Justice Story