4 ms·
>What's wrong with US Dollars? Its controlled by the Federal Reserve which is partly controlled by the government. Basically your USD is worth what the centra
by mkirklions 8y ago
>What's wrong with US Dollars?
Its controlled by the Federal Reserve which is partly controlled by the government.
Basically your USD is worth what the central bank says they are worth. A new war? Your dollar loses value. Out of control debt? Print more money.
Bitcoin has 21,000,000 solutions ever ever ever.
- jaredklewis 8y agoUh, the US is at war now in Afghanistan and until 2011 was at war in Iraq. The USD is fine. If WWIII breaks out, I’m betting the Internet (in its current open and international form) will be an early casualty. How’s that going to work out for bitcoin exactly?
- mkirklions 8y agoSpeak for yourself, ive seen inflation numbers around 4% since 2001. The only reason consumer goods are the same cost is because the exponential increase in technology and productivity.
- s73v3r_ 8y agoAnd that doesn't mean a thing for the value of an individual Bitcoin. Just like the USD, it's worth something because people say it's worth something.
- mkirklions 8y agoThe quantity is the big deal. Tomorrow there will be more USD than yesterday. This isnt true for BTC.
- s73v3r_ 8y agoConsidering BTC is infinitely divisible, that doesn't matter.
- mkirklions 8y agoI found spending time learning economics and marketing changed my understanding of the world. I think it would be very beneficial for everyone(especially HN crowd) to learn this. Your sentence isnt important.
- s73v3r_ 8y agoAssuming that people who disagree with you do it only because they "don't understand economics" (here's a huge hint: That's not why at all) is extremely uncivil and dismissive. In the same token, I can easily say that the only reason you are in favor of these things is because you've forgotten the last couple hundred years of economic history.