Bitcoin

nikol · Post by **nikol** » Tue Jun 02, 2020 8:41 pm

Nice move around maturity fixing.

If SEC is doing something, they should come and eat those manipulators alive or torture slowly, at least. ))

Kitno · Post by **Kitno** » Sun Jun 07, 2020 12:09 am

1. It cannot be inflated

2. It is regarded as a commodity

3. it is used as a currency

The three above used to be the basis for a trusted Western currency.

15% of my wealth is in Bitcoin. In 2y I'd like to have a conversation about the real value of what I have vs then.

nikol · Post by **nikol** » Sun Jun 07, 2020 12:29 pm

@Kitno

Where did you get this? I understand it is some sort of univ. handbook or political mantra of 80s?

"1. It cannot be inflated

2. It is regarded as a commodity

3. it is used as a currency"

Kitno · Post by **Kitno** » Sun Jun 07, 2020 1:37 pm

@Nikol - LOL. Funny you say that. I just read David Graeber's book on Debt. He made some really interesting points that barter was not a precursor to currency in every society (instead it was forms of credit) and that such assertions by almost all economists are false. The rest of the book was ramming a socialist narrative at every angle like a 70s historian.

Aside from that I stand by what I wrote. Why do you disagree? FYI I don't regard Bitcoin mining as inflationary (in that it's prescribed and immaterial to the comparison we discuss, i.e. Western CBs).

nikol · Post by **nikol** » Mon Jun 08, 2020 6:26 am

@Kitno

You misinterpreted my question by reading more meaning than it meant to have. I was interested in origin of your citation only. It is for my own account (taking notes of various things).

Nevertheless, yes, this subject of features of money teases my brain.

On your points, one by one:

- Disagree with statement that debt leads barter. Example: american Indians didn't have debts, but barter. They had tokens, eagle feathers or bear clows depending on their totem, which were sort of national currencies. Maybe some form of "intrust". Debt is accompanied with transform of wealth through time. They had only barter.

- definition of inflation is interesting. I had developed the understanding that there are many sources of that, where inflation of monetary base through printing is one of them. However, recently one of my fellow educated economists pointed to me that definition of inflation is linked to consumer basket. This rises the question, why e.g. FED inflates usd monetary base, while it does not (immediately) propagate through to inflation of related basket?

- Bitcoin monetary base inflates (by design), it is a fact.

someprimetime · Post by **someprimetime** » Mon Jun 08, 2020 3:49 pm

@Kitno: Obviously the goal is to always gain more BTC, but do you trade alts? My allocation is around 80% BTC and 20% various alts FWIW.

nikol · Post by **nikol** » Wed Jun 10, 2020 9:22 pm

Competitors are small but real. Never underestimate them.

[img]/User%20Files/694/IMG_20200610_225306_039.jpg[/img]

svisstack · Post by **svisstack** » Wed Jun 10, 2020 10:13 pm

https://boards.4channel.org/biz/thread/19645133

nikol · Post by **nikol** » Tue Jun 16, 2020 12:48 pm

Quiz:

How it differs from BTC?

Bernanke about printing money

https://youtu.be/U_bjDAZazWU

nikol · Post by **nikol** » Wed Oct 07, 2020 7:58 pm

Any impact? Or gross simplification of regulatory landscape to make it manageable?

"FCA bans the sale of crypto-derivatives to retail consumers"

https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers