Domain: coinnews.net
Stories and comments across the archive that link to coinnews.net.
Comments · 7
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Re:Can any government really stop BitCoin?
http://www.coinnews.net/tools/cpi-inflation-calculator/
According to that page between 2000 and 2013 the USD had an inflation of 35.6%
.. That's not just a few percent inflation.Inflation is usually looked at yearly, and is a few percent yearly. But if you really want to compound over 13 years - what is the compounded average interest rate over the same period? You need to add that into the calculation.
But if we are talking about gain in value... In about one year it's gone from 15-20 USD to about 100USD.. That would be quite some nice profit if someone would have invested a year ago...
This I agree with. Bitcoin is comparable to the most risky and volatile penny stock speculation opportunities. You can gain a lot, or lose a lot.
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Re:Can any government really stop BitCoin?
http://www.coinnews.net/tools/cpi-inflation-calculator/
According to that page between 2000 and 2013 the USD had an inflation of 35.6%
.. That's not just a few percent inflation.Also i wrote "Not sure if bitcoin is good enough, but it's ideas looks promising."..
But if you look at bitcoin.. The thing that happened there was that the bitcoin-price spiked, going from ~100USD to >200USD, but it took only about 2 weeks before it was back to about 100USD. Sure it's been going between 80 and 120USD during the last month, but this is due to current size of the currency. The larger it becomes the more stable against fluctuations it will become.
Ie the 2/3'rds of it's value was when the price spiked... If taking it the other way we could say it gained 2/3'rds of it's value in a few days too...But if we are talking about gain in value... In about one year it's gone from 15-20 USD to about 100USD.. That would be quite some nice profit if someone would have invested a year ago...
But until this, or any other, crypto-currency has a larger economy it will not be as stable as the major currencies out there... It probably needs 10-20 times current economy size as it has today before it will be stable enough for most people to trust it.
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Re:Bittersweet
More citations for the inflation from the top hits on Google.
http://www.westegg.com/inflation/infl.cgi
http://www.usinflationcalculator.com/
http://www.dollartimes.com/calculators/inflation.htm/
http://www.coinnews.net/tools/cpi-inflation-calculator/
http://inflationdata.com/Inflation/Inflation_Calculators/Inflation_Rate_Calculator.aspSo, please cite your source.
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Re:Need to eliminate the Dollar note, and Cent coi
Damn slashdot swallowed my cent characters. Hey slashdot, it's 2010, can't we join the 21st century and allow ISO8859-1 characters?
A dollar today has the buying power of 6 cents in 1940. But don't take my word for it, here's one of many inflation calculators http://www.coinnews.net/tools/cpi-inflation-calculator/ [coinnews.net]
Can you imagine your grandparents carrying a wallet stuffed with 5 cent notes? Or a pocket full of
.06 coins?Time to get rid of them. Time to stop wasting 100s of millions of dollars every year printing and minting them.
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Need to eliminate the Dollar note, and Cent coins.
A dollar today has the buying power of 6 in 1940. But don't take my word for it, here's one of many inflation calculators http://www.coinnews.net/tools/cpi-inflation-calculator/
Can you imagine your grandparents carrying a wallet stuffed with 5 notes? Or a pocket full of
.06 coins?Time to get rid of them. Time to stop wasting 100s of millions of dollars every year printing and minting them.
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Re:Two sides...
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Re:Historical Precident
I can't help but notice the parallels between America's situation and Rome during its final centuries. Rome eventually degraded as barbaric pressures from the outside world overwhelmed their ability to control them.
Rome's problem was that it reduced its money supply by 90% towards the end and debased its existing currency until it was nearly worthless. As a result, commoners lost their land and homes and refused to support the government which was then able to be easily toppled from without.