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Author Topic: monetary debasement  (Read 2764 times)

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Offline Mark 79

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monetary debasement
« on: March 16, 2024, 02:17:10 AM »
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    • I know that there are many Bitcoin naysayers on CI, but I affirm that Bitcoin does play a role in fighting the JMF's "monetary system." They have always debased coinage and currency, from coin-clipping to ETFs.

    Fight them with every tool available!


    BITCOIN HAS NO TOP BECAUSE FIAT HAS NO BOTTOM: UNDERSTANDING MONETARY DEBASEMENT
    https://bitcoinmagazine.com/sponsored/bitcoin-has-no-top-because-fiat-has-no-bottom-understanding-monetary-debasement
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    Offline AnthonyPadua

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    Re: monetary debasement
    « Reply #1 on: March 16, 2024, 03:21:06 AM »
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    • Quote from: Mark 79 on March 16, 2024, 02:17:10 AM
    I know that there are many Bitcoin naysayers on CI, but I affirm that Bitcoin does play a role in fighting the JMF's "monetary system." They have always debased coinage and currency, from coin-clipping to ETFs.

    Fight them with every tool available!


    BITCOIN HAS NO TOP BECAUSE FIAT HAS NO BOTTOM: UNDERSTANDING MONETARY DEBASEMENT
    https://bitcoinmagazine.com/sponsored/bitcoin-has-no-top-because-fiat-has-no-bottom-understanding-monetary-debasement
    Btc follows stocks. In 2020 covid crash btc also crashed, it follow global liquidity. Also btc is terrible for transactions as it has a slow txs speed, high fees when people actual use the network, and is a transparent ledger.
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    Offline Quo vadis Domine

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    Re: monetary debasement
    « Reply #2 on: March 16, 2024, 06:37:31 AM »
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    • Quote from: Mark 79 on March 16, 2024, 02:17:10 AM
    I know that there are many Bitcoin naysayers on CI, but I affirm that Bitcoin does play a role in fighting the JMF's "monetary system." They have always debased coinage and currency, from coin-clipping to ETFs.

    Fight them with every tool available!


    BITCOIN HAS NO TOP BECAUSE FIAT HAS NO BOTTOM: UNDERSTANDING MONETARY DEBASEMENT
    https://bitcoinmagazine.com/sponsored/bitcoin-has-no-top-because-fiat-has-no-bottom-understanding-monetary-debasement

    No doubt many people are making a boatload of money on it, but I don’t want to be left without a chair when the music stops. I’m terrible at timing. :laugh1:
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    For what doth it profit a man, if he gain the whole world, and suffer the loss of his own soul? Or what exchange shall a man give for his soul?

    Offline Mark 79

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    Re: monetary debasement
    « Reply #3 on: March 16, 2024, 10:29:22 AM »
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    • Quote from: Quo vadis Domine on March 16, 2024, 06:37:31 AM
    No doubt many people are making a boatload of money on it, but I don’t want to be left without a chair when the music stops. I’m terrible at timing. :laugh1:
    Early adopters will have plenty of chairs. :cowboy:
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    Offline Mark 79

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    Re: monetary debasement
    « Reply #4 on: March 16, 2024, 10:53:49 AM »
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    Offline Giovanni Berto

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    Re: monetary debasement
    « Reply #5 on: March 16, 2024, 12:54:19 PM »
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    • That's interesting, but are there any guarantees that they won't "print" more Bitcoins?

    It seems to me that it is only a matter of time until the Jєωs control it too.

    Look at what they did to Libya's Gadaffi when he tried to bring back the gold standard.
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    Offline Quo vadis Domine

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    Re: monetary debasement
    « Reply #6 on: March 16, 2024, 02:05:47 PM »
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    • Quote from: Mark 79 on March 16, 2024, 10:29:22 AM
    Early adopters will have plenty of chairs. :cowboy:

    If I were an early adopter and made millions, I would sell 50% to 75% and let the rest ride. 
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    For what doth it profit a man, if he gain the whole world, and suffer the loss of his own soul? Or what exchange shall a man give for his soul?

    Offline Ladislaus

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    Re: monetary debasement
    « Reply #7 on: March 16, 2024, 10:13:21 PM »
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    • Meh, it’s all ultimately controlled by the Jєωs.
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    Offline AnthonyPadua

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    Re: monetary debasement
    « Reply #8 on: March 16, 2024, 11:51:35 PM »
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    • Quote from: Giovanni Berto on March 16, 2024, 12:54:19 PM
    That's interesting, but are there any guarantees that they won't "print" more Bitcoins?

    It seems to me that it is only a matter of time until the Jєωs control it too.

    Look at what they did to Libya's Gadaffi when he tried to bring back the gold standard.
    Due to nature of computer code they can't do it without forking the project i.e making a another different bitcoin. Also I have seen some post that BTC is at the end of it's first cycle that it's been in since it's inception. will be interesting to see what happens by 2027.
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    Offline Mark 79

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    Re: monetary debasement
    « Reply #9 on: March 17, 2024, 11:44:05 AM »
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    • Quote from: Ladislaus on March 16, 2024, 10:13:21 PM
    Meh, it’s all ultimately controlled by the Jєωs.
    Since .zog allowed ETFs the JMFs have been manipulating the price as they have done every commodity and currency.

    I'd argue that it is somewhat more difficult with BTC. They have easily manipulated gold pricing, for example, by "printing" more gold than has ever been mined. Since the total maximum amount of BTC is limited to 21 million, it is a bit more difficult for them to hypothecate more than 21 million BTC. 
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    Offline Quo vadis Domine

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    Re: monetary debasement
    « Reply #10 on: April 02, 2024, 06:08:15 AM »
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    • Quote from: Mark 79 on March 17, 2024, 11:44:05 AM
    Since .zog allowed ETFs the JMFs have been manipulating the price as they have done every commodity and currency.

    I'd argue that it is somewhat more difficult with BTC. They have easily manipulated gold pricing, for example, by "printing" more gold than has ever been mined. Since the total maximum amount of BTC is limited to 21 million, it is a bit more difficult for them to hypothecate more than 21 million BTC.

    They say that there are only 21million BTC, but it seems to me that it can be divided indefinitely. So, in reality the price can keep going up and fractions of “Bitcoins” will continue to be created.
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    For what doth it profit a man, if he gain the whole world, and suffer the loss of his own soul? Or what exchange shall a man give for his soul?

    Offline AnthonyPadua

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    Re: monetary debasement
    « Reply #11 on: April 02, 2024, 06:47:30 AM »
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    • Quote from: Quo vadis Domine on April 02, 2024, 06:08:15 AM
    They say that there are only 21million BTC, but it seems to me that it can be divided indefinitely. So, in reality the price can keep going up and fractions of “Bitcoins” will continue to be created.
    1 Bitcoin = 100,000,000 satoshis

    A satoshi is the atomic unit of bitcoin; each bitcoin is divisible into 100,000,000 satoshis, which are often called sats.


    They cannot create more bitcoin. Creating fractions...:facepalm: 
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    Offline Quo vadis Domine

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    Re: monetary debasement
    « Reply #12 on: April 02, 2024, 11:34:40 AM »
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    • Quote from: AnthonyPadua on April 02, 2024, 06:47:30 AM
    1 Bitcoin = 100,000,000 satoshis

    A satoshi is the atomic unit of bitcoin; each bitcoin is divisible into 100,000,000 satoshis, which are often called sats.


    They cannot create more bitcoin. Creating fractions...:facepalm:

    Is there a guarantee that a satoshi won’t be divided into smaller units?

    If I had only 1 satoshi, what would prevent me from partnering with 10 people with each of us getting one tenth of a satoshi?

    Can you buy an ETF that is based on Bitcoin or another cryptocurrency?
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    For what doth it profit a man, if he gain the whole world, and suffer the loss of his own soul? Or what exchange shall a man give for his soul?

    Offline AnthonyPadua

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    Re: monetary debasement
    « Reply #13 on: April 02, 2024, 10:04:49 PM »
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    • Quote from: Quo vadis Domine on April 02, 2024, 11:34:40 AM
    Is there a guarantee that a satoshi won’t be divided into smaller units?

    If I had only 1 satoshi, what would prevent me from partnering with 10 people with each of us getting one tenth of a satoshi?

    Can you buy an ETF that is based on Bitcoin or another cryptocurrency?
    Crypto can't easy be changed since it's coded in. You would need control over 51% of the network to make an attack and even then others could just fork the project.

    Sure if someone wanted to make a financial product where one product= 1 sataoshi they could divide that product up further, but the backing would still be 1 satoshi in this case.

    Bitcon current has some ETFs.
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    Offline Quo vadis Domine

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    Re: monetary debasement
    « Reply #14 on: April 03, 2024, 06:35:50 PM »
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    • Quote from: AnthonyPadua on April 02, 2024, 10:04:49 PM
    Crypto can't easy be changed since it's coded in. You would need control over 51% of the network to make an attack and even then others could just fork the project.

    Sure if someone wanted to make a financial product where one product= 1 sataoshi they could divide that product up further, but the backing would still be 1 satoshi in this case.

    Bitcon current has some ETFs.


    The point I was trying to make is that as long as the price keeps going up it can and will be fractionalized. With Crypto ETFs, their market can and will be destabilized.
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    For what doth it profit a man, if he gain the whole world, and suffer the loss of his own soul? Or what exchange shall a man give for his soul?
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