OTOH, if savings actually made sense and could produce a return commensurate with the value of the use of the money and not diluted by government running the presses, perhaps people would be less inclined to turn to debt. Of course, the overbearing tax burden doesn't help much either.
We already have a demographic nightmare rounding the corner with a tidal wave of "oldies" about to enter the scene. They also have no savings, huge amounts of debt, the currency is being inflated at a rate that could trigger hyperinflation at the drop of the hat and the stock market is hugely bubbled.
I'd think step 1 would be "Don't call in hoax bomb threats". Once that point of stupidity has been conceded, I think all else is just grist for the mill.
You may not want to cause injury or death, which may turn people against you. If you can scare them and make them pressure their leaders to cease the action you disagree with, you might be able to achieve your aims more easily, particularly if your cause is somewhat sympathetic.
There are different types of rich people of course. Most have investments, not savings. Those investments are in a bit of a bubble right now because there is so much money sloshing around the markets from the huge amount of printing going on. Hence the cash value of their investments have *risen*. Then there's the other kind of rich people who take the money handed over to them by the government and lend it out to others, receiving interest on those loans for doing effectively *nothing*.
Those who put a little money in a savings account, CD or other instrument that makes sense for those who need liquidity are losing value daily.
But the value isn't important. If you are a value speculator and you had $20,000 worth of Bitcoins, it went to $10,000 worth. It doesn't matter exactly how many actual Bitcoins you had. Sure, 500->50 would be more than 50->5 but if you calculated your Bitcoin stash in mBTC, you went from 0.5->0.05. Is that more or less than 500->50? It's a ratio thing. 10% is 10%.
The government running the presses through the night is a vastly better system than the government sending out the troops to collect all the gold it can find, rule of law be damned. That seems to happen with every government
Thing is, they're doing both.
Inflation is more pernicious. If the government is taking taxes, they're taking taxes. When they print the money, in the current environment, they're giving it to their rich buddies.
No. You need to look at the definition of fiat. Fiat needs authority. Fiat is worth something because someone says "I say it is". If anything, Bitcoin is a concordant currency, its value determined by agreement.
Amazon doesn't use anything. Bitpay handles the conversion and the supplier of the cards gets paid in dollars (This is something I believe you said was just too difficult to implement in a previous thread). The supplier of the cards gets them from Amazon (and other places) at a discount and makes their profit that way. Bitpay takes a slice so the purchaser pays a slight premium. Then again, if you bought your Bitcoins lower, you probably still come out ahead.
Slashdot Mirror
Theory is fine. You are just missing other effects and assuming that things are static other than what you happen to have your microscope on.
OTOH, if savings actually made sense and could produce a return commensurate with the value of the use of the money and not diluted by government running the presses, perhaps people would be less inclined to turn to debt. Of course, the overbearing tax burden doesn't help much either.
We already have a demographic nightmare rounding the corner with a tidal wave of "oldies" about to enter the scene. They also have no savings, huge amounts of debt, the currency is being inflated at a rate that could trigger hyperinflation at the drop of the hat and the stock market is hugely bubbled.
Good luck, everyone.
interest > inflation, profit
interest < inflation, loss
The banks are in the former category, the "little people" in the latter.
And yes, if you steal peoples wealth by inflation, of course they will turn from saving to borrowing. And all that entails.
I'd think step 1 would be "Don't call in hoax bomb threats". Once that point of stupidity has been conceded, I think all else is just grist for the mill.
You may not want to cause injury or death, which may turn people against you. If you can scare them and make them pressure their leaders to cease the action you disagree with, you might be able to achieve your aims more easily, particularly if your cause is somewhat sympathetic.
"Seriously?" right back at you.
There are different types of rich people of course. Most have investments, not savings. Those investments are in a bit of a bubble right now because there is so much money sloshing around the markets from the huge amount of printing going on. Hence the cash value of their investments have *risen*. Then there's the other kind of rich people who take the money handed over to them by the government and lend it out to others, receiving interest on those loans for doing effectively *nothing*.
Those who put a little money in a savings account, CD or other instrument that makes sense for those who need liquidity are losing value daily.
Inflation can and is. The main problem with inflation is that it take value from savings and transfers it to the already rich.
Somalia? It's at times like this I wish Slashdot supported :rolleyes:
This is also why log charts are a big thing.
But the value isn't important. If you are a value speculator and you had $20,000 worth of Bitcoins, it went to $10,000 worth. It doesn't matter exactly how many actual Bitcoins you had. Sure, 500->50 would be more than 50->5 but if you calculated your Bitcoin stash in mBTC, you went from 0.5->0.05. Is that more or less than 500->50? It's a ratio thing. 10% is 10%.
The government running the presses through the night is a vastly better system than the government sending out the troops to collect all the gold it can find, rule of law be damned. That seems to happen with every government
Thing is, they're doing both.
Inflation is more pernicious. If the government is taking taxes, they're taking taxes. When they print the money, in the current environment, they're giving it to their rich buddies.
Sure it was. For him.
Watch anything that comes from that guy's mouth. You either know it's supposed to benefit him or evoke a reaction that does.
Again, it is not Amazon. The company is gyft.com
I have no affiliation but have looked into what they offer.
No. It can all be factored in.
The same is true of Facebook, Amazon, Ebay etc.
Seems extremely similar to me.
I've bought several things with it. It is typically stable enough over the short term to allow for close-enough approximations.
The £ dropped against the $ about 20% virtually overnight a few years ago so it's not like regular currencies are immune.
Or up.
Or maybe sideways.
No. You need to look at the definition of fiat. Fiat needs authority. Fiat is worth something because someone says "I say it is". If anything, Bitcoin is a concordant currency, its value determined by agreement.
The silkroad fallout was a barely noticeable blip.
Now, when they auction off the confiscated BTC, things could get interesting.
Tell that to George Soros.
Amazon doesn't use anything. Bitpay handles the conversion and the supplier of the cards gets paid in dollars (This is something I believe you said was just too difficult to implement in a previous thread). The supplier of the cards gets them from Amazon (and other places) at a discount and makes their profit that way. Bitpay takes a slice so the purchaser pays a slight premium. Then again, if you bought your Bitcoins lower, you probably still come out ahead.
And while some sit there crying "Wah, it's too hard", others get out there and make things happen.
I was about to write something but I see it's you again so nevermind. You just don't seem to get currency exchange.
Burst all the way to 3-4 times what it was a couple of months ago...