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Cryptobots really believe this? Even as a European citizen, I have faith that the US Dollar will stay the US dollar, and keep value. The Euro will keep being th

Cryptobots really believe this? Even as a European citizen, I have faith that the US Dollar will stay the US dollar, and keep value. The Euro will keep being the Euro. Hell, even the Yuan will stay the Yuan. Just accept that you're willing to shit on the planet to make a few bucks, it's fine.

gruez 6y ago
>Even as a European citizen, I have faith that the US Dollar will stay the US dollar, and keep value. Clearly the market doesn't think so. Nearly every asset class is getting inflated in the past year, in the middle of a pandemic no less.
- ohgodplsno 6y ago
  That's... called printing money. Inflation is a necessary evil and infinitely more preferable to the alternative that is bitcoin, which gives you no reason to ever use it. Why would you use it at 10k when it's going to be a 20k next month ? Inflation encourages money changing hands. The market has absolutely fuck all to do with it.
  - gruez 6y ago
    In other words, you're saying that it won't keep value?
    - ohgodplsno 6y ago
      Your $100 today will still be usable in 20 years. Sure, it'll have lost you a bit of purchasing power, but it'll still be backed by an actual nation, have its value recognized everywhere in the world. Your bitcoin will have gone sideways three times, jumped up and down. Could be tripled. Could be halved. Still controlled by three chinese farms who could double spend at any point should it become less valuable.
dosenbrot 6y ago
As European citizen I don't really trust the Euros or Dollars. Just think about the loss in value If you own money. Even if the official 2% inflation, its still 2% lost of value. And now with Corona they printing billions of Euros and the inlfation will stay at 2% ... sure.
- ohgodplsno 6y ago
  The whole point of inflation is that your money is actually used to do things. Were those currencies to deflate, it would literally be more beneficial to not touch them. Ever. Investments would grind down to a halt, and why would you do groceries now when you could get more if you waited for next week ? Even as a hardcore socialist, it's worrying that cryptobots have failed econ 101.
  - jcbrand 6y ago
    > why would you do groceries now when you could get more if you waited for next week ? Because you're hungry and your fridge is empty? Inflation creates artificial demand and drives consumerism, thereby arguably causing more resource usage/wastage than would otherwise be the case. Depreciating money means that people's time horizon narrows and they're thinking more and more of the present at the expense of the future, causing all kinds of negative externalities. Capitalism is actually supposed to make things cheaper, by virtue of competition spurring everyone on to be more efficient and economic with their inputs in order to provide cheaper and better products. > Were those currencies to deflate, it would literally be more beneficial to not touch them. This is such a silly, hyperbolic argument. People need to eat, they have other desires than just hoarding money, there will always be reasons to give out money and therefore there will always be reasons to provide goods and services for that money.
  - effie 6y ago
    GP shows more understanding than you do. Inflation means savings in cash decrease in time, that's why you don't keep big savings in cash or standard bank account but you invest. Besides stocks, maybe gold, maybe cryptocurrencies.

gruez 6y ago

>Even as a European citizen, I have faith that the US Dollar will stay the US dollar, and keep value. Clearly the market doesn't think so. Nearly every asset class is getting inflated in the past year, in the middle of a pandemic no less.

ohgodplsno 6y ago
That's... called printing money. Inflation is a necessary evil and infinitely more preferable to the alternative that is bitcoin, which gives you no reason to ever use it. Why would you use it at 10k when it's going to be a 20k next month ? Inflation encourages money changing hands. The market has absolutely fuck all to do with it.
- gruez 6y ago
  In other words, you're saying that it won't keep value?
  - ohgodplsno 6y ago
    Your $100 today will still be usable in 20 years. Sure, it'll have lost you a bit of purchasing power, but it'll still be backed by an actual nation, have its value recognized everywhere in the world. Your bitcoin will have gone sideways three times, jumped up and down. Could be tripled. Could be halved. Still controlled by three chinese farms who could double spend at any point should it become less valuable.

dosenbrot 6y ago

As European citizen I don't really trust the Euros or Dollars. Just think about the loss in value If you own money. Even if the official 2% inflation, its still 2% lost of value. And now with Corona they printing billions of Euros and the inlfation will stay at 2% ... sure.

ohgodplsno 6y ago
The whole point of inflation is that your money is actually used to do things. Were those currencies to deflate, it would literally be more beneficial to not touch them. Ever. Investments would grind down to a halt, and why would you do groceries now when you could get more if you waited for next week ? Even as a hardcore socialist, it's worrying that cryptobots have failed econ 101.
- jcbrand 6y ago
  > why would you do groceries now when you could get more if you waited for next week ? Because you're hungry and your fridge is empty? Inflation creates artificial demand and drives consumerism, thereby arguably causing more resource usage/wastage than would otherwise be the case. Depreciating money means that people's time horizon narrows and they're thinking more and more of the present at the expense of the future, causing all kinds of negative externalities. Capitalism is actually supposed to make things cheaper, by virtue of competition spurring everyone on to be more efficient and economic with their inputs in order to provide cheaper and better products. > Were those currencies to deflate, it would literally be more beneficial to not touch them. This is such a silly, hyperbolic argument. People need to eat, they have other desires than just hoarding money, there will always be reasons to give out money and therefore there will always be reasons to provide goods and services for that money.
- effie 6y ago
  GP shows more understanding than you do. Inflation means savings in cash decrease in time, that's why you don't keep big savings in cash or standard bank account but you invest. Besides stocks, maybe gold, maybe cryptocurrencies.