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I'm saying this one, > Or are you saying that Bitcoin went up because they printed money and is now falling again as people get used to the increased monetary
by RA_Fisher 8y ago
I'm saying this one,
> Or are you saying that Bitcoin went up because they printed money and is now falling again as people get used to the increased monetary supply
It's pretty amazing, but it's true. The Fed can alter the countable Dollars in existence ("money supply"). They have a gov granted monopoly on 'em.
- BoiledCabbage 8y agoYah this is ridiculous - 99% of the price change in bitcoin is entirely unrelated to the money supply. At most 1% and almost certainly significantly less is related to it. Bitcoin's price change is due to speculation plain and simple. There is a good amount of what's posted here about the financial system that is true, and a good bunch isn't. Bitcoin has gone up thousands of percent in a few years, gold has barely moved. Trying to claim Bitcoin's movement is due to money supply reasons makes zero space.
- conanbatt 8y agoBut stocks have gone down considerably also. There are many things that cause volatility in crypto, but bear in mind stocks lost more than 2 trillion dollars in october. Several times the entire "market cap" of BTC.