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Your money is melting away. Your options are buying houses, which are fixed and hard to sell; stocks, which can be inflated and are not internationally portabl

Your money is melting away. Your options are buying houses, which are fixed and hard to sell; stocks, which can be inflated and are not internationally portable (only between brokerages) or Bitcoin which is globally portable, takes no space, cannot be inflated or controlled by any State and self custodial. Where is the scam, except working for inflating fiat? Jwz already made his money, and owns a nightclub in SF. Your average worker in Turkey or Nigeria just wants the fruit of his labor not to be eroded away by politicians.

imtringued 5y ago
"Are the maintenance costs of money and inflation comparable? Often, to the proposal for a fundamental monetary reform of our currencies, the objection is raised that a maintenance tax or a user fee of, say, five per cent for money, is in effect nothing but inflation in small doses to the same extent; both of them would put money into motion. The latter is right, of course. But there are still essential differences in both these circulation ensuring measures, not only in their impacts but also in the following points. Maintenance costs of money are applicable only to demand money, cash. Inflation affects the many times larger monetary assets. Maintenance costs of money drive surplus money into banks and increase the credit potential. Inflation drives surplus money into consumption or false investments and heats up economic growth. Maintenance costs of money stabilize the purchasing power of money and thus price levels. Inflation causes, in contrast, constant price-alterations and irritations in the structure of all money related matters, especially of all calculations and settlements. Maintenance costs of money not only enable stability of the purchasing power, but they also push the interest rates little by little towards zero. Inflation, on the other hand, drives the interest rates upwards, with all their negative consequences. Maintenance costs of money flow from the cash boxes of the money holder into that of the state and thus to the general public. The many times higher inflation and interest charges have to be borne by the general public and benefit a minority. Maintenance costs of money can be scheduled at a fixed rate and levied. In contrast, inflation can neither be calculated nor set at a fixed rate. " https://www.themoneysyndrome.org/contents/chapter-34/ https://www.themoneysyndrome.org/contents/chapter-34/ How about we get rid of inflation in fiat currencies then?
silisili 5y ago
I think the big difference here is that a house is an actual, usable thing. Stock is, roughly speaking, part ownership in a real thing. Cryptocurrency is... nothing. It could disappear tomorrow and only those affected by the ponzi scheme would even notice. If a house disappears tomorrow, well, we have more interesting things to discuss.
- randomhodler84 5y ago
  What if you need to flee your land, take nothing with you except 12-24 words that you commit to memory… and that could store your savings. Also, nobody could take it from you, or stop you spending it on whatever you wish. Would that be a useful thing?
  - silisili 5y ago
    Sure, if it were agreed upon, backed by some real value and not solely speculation, and rather stable. You can get pretty close to that today by just having an online bank account that can issue checks(to yourself). I think the problem isn't necessarily the idea, but the implementation (all 25k of them).
    - randomhodler84 5y ago
      If you are talking banks and checks, you are missing the point entirely.. In 2013 the Cyprus government confiscated 47.5% of all bank deposits above €100,000. Let that sink in. Banks are the last place you want to trust your life savings.
      - silisili 5y ago
        Perspective. That figure is for a single bank, on uninsured deposits. Let's not forget it was all quasi legal tax games anyways. If I as a US citizen have to run away from my house, the banks have stolen all the money, what good is Bitcoin going to do? At that point it's all out anarchy, and good luck finding a computer much less electricity. And assuming you find both, what in the world are you even hoping to buy? And if you're thinking of those in other countries with less protections and stability, fair enough, but those aren't the ones speculating and getting rich off this scheme.

imtringued 5y ago

"Are the maintenance costs of money and inflation comparable? Often, to the proposal for a fundamental monetary reform of our currencies, the objection is raised that a maintenance tax or a user fee of, say, five per cent for money, is in effect nothing but inflation in small doses to the same extent; both of them would put money into motion. The latter is right, of course. But there are still essential differences in both these circulation ensuring measures, not only in their impacts but also in the following points. Maintenance costs of money are applicable only to demand money, cash. Inflation affects the many times larger monetary assets. Maintenance costs of money drive surplus money into banks and increase the credit potential. Inflation drives surplus money into consumption or false investments and heats up economic growth. Maintenance costs of money stabilize the purchasing power of money and thus price levels. Inflation causes, in contrast, constant price-alterations and irritations in the structure of all money related matters, especially of all calculations and settlements. Maintenance costs of money not only enable stability of the purchasing power, but they also push the interest rates little by little towards zero. Inflation, on the other hand, drives the interest rates upwards, with all their negative consequences. Maintenance costs of money flow from the cash boxes of the money holder into that of the state and thus to the general public. The many times higher inflation and interest charges have to be borne by the general public and benefit a minority. Maintenance costs of money can be scheduled at a fixed rate and levied. In contrast, inflation can neither be calculated nor set at a fixed rate. " https://www.themoneysyndrome.org/contents/chapter-34/ https://www.themoneysyndrome.org/contents/chapter-34/ How about we get rid of inflation in fiat currencies then?

silisili 5y ago

I think the big difference here is that a house is an actual, usable thing. Stock is, roughly speaking, part ownership in a real thing. Cryptocurrency is... nothing. It could disappear tomorrow and only those affected by the ponzi scheme would even notice. If a house disappears tomorrow, well, we have more interesting things to discuss.

randomhodler84 5y ago
What if you need to flee your land, take nothing with you except 12-24 words that you commit to memory… and that could store your savings. Also, nobody could take it from you, or stop you spending it on whatever you wish. Would that be a useful thing?
- silisili 5y ago
  Sure, if it were agreed upon, backed by some real value and not solely speculation, and rather stable. You can get pretty close to that today by just having an online bank account that can issue checks(to yourself). I think the problem isn't necessarily the idea, but the implementation (all 25k of them).
  - randomhodler84 5y ago
    If you are talking banks and checks, you are missing the point entirely.. In 2013 the Cyprus government confiscated 47.5% of all bank deposits above €100,000. Let that sink in. Banks are the last place you want to trust your life savings.
    - silisili 5y ago
      Perspective. That figure is for a single bank, on uninsured deposits. Let's not forget it was all quasi legal tax games anyways. If I as a US citizen have to run away from my house, the banks have stolen all the money, what good is Bitcoin going to do? At that point it's all out anarchy, and good luck finding a computer much less electricity. And assuming you find both, what in the world are you even hoping to buy? And if you're thinking of those in other countries with less protections and stability, fair enough, but those aren't the ones speculating and getting rich off this scheme.