Bullshit. Suppose BTC was a major currency, accepted like cash. How would that stop, say, the government of New Jersey from implementing gasoline rationing in the aftermath of Sandy? It wouldn't.
Whether bitcoin actually succeeds or not, we'll at least get some really good data.
Not really. One of the bigger factors causing people to hoard them isn't just the deflationary aspect, but the fact that there isn't a whole hell of a lot to spend them on as well. If Amazon accepted BTC, that'd be different.
The Keysian notion that spending in excess of tax revenue will cause goods and services to magically emerge from the ether
That sentence was completely inaccurate. They Keysian idea is that, in times of decreased economic demand, like a recession, the government is the only entity large enough to keep demand at some minimum level, and prop it up. It doesn't say that government spending causes anything to "magically emerge". It says that if no one else is buying due to fears from recession, the government needs to step in, so that everything doesn't completely collapse.
Loans are a good thing? Did you not learn anything from the banking crisis? No wonder this country is going to hell.
If it is, in fact, "going to hell", it's because of people like you who don't understand what was behind the banking crisis. Loans are a good thing. Misuse of them, over-leveredging, and selling bad investments are not. None of those things, however, are a direct result of loans.
Why would a bank lend out the money for someone to buy a house? Because they believe that they will earn more money through interest than they will otherwise. However, in this situation, they likely would see their money increase in value simply by holding on to it, rather than loaning it out. If they do, the loans would have to be at much higher rates, which means that fewer people would be able to afford it at all.
Call it "saving" if you wish. The end result is that the currency is not being spread around and used for goods and services, meaning that there is less reason to produce these things, giving less incentive to create them.
Capitalism does not force workers to work at a factory
In theory, no. In reality, if you want to eat, you will work. And in many places, the options for those work are not as varied. And moving across the country, or even the state can take significant resources, which one might not have.
The majority of people choose to support governments that make it much more difficult to do that, but that is also a choice they make.
This is absolute fucking horseshit, and you know it.
I have a friend that became a multi-millionaire. He did this by creating a business out of nothing.
And I've known a couple of people who have created business out of nothing, and had that business fail miserably. I'm going to bet my anecdote is more common than yours.
The reality is, that Capitalism is better for the collective in the end.
That's a pretty subjective view of things. Capitalism has caused plenty of it's own problems, to which many people are NOT better off for it. The problem is that unchecked Capitalism rewards profit at all costs, and sees people as costs in that equation.
The real answer, like many things in life, is not purely one way or the other, but a balance somewhere in the middle.
And I know people who did fuck all and are making even better money. And I know people who have put in long hours of hard work only to be tossed out on their ass. So your example is worthless.
With what money? And if I'm a person who requires health insurance, due to a pre-existing condition, "starting my own company" just got even more expensive. Further, there are plenty of reasons not to do so, not the least of which is simply not having an idea, or not having the knack for business.
Starting your own business can be great, and I don't want to dissuade anyone from doing it. But to use that as the perfect answer to Capitalism's woes is absolutely retarded.
By making everyone free to choose how they will spend their own money, capitalism ensures that if you make bad decisions, YOU will suffer for it, not everyone else
That sound great in theory, but in reality, no man is an island. We are all connected, and the actions of some people can have disastrous consequences for everyone else. The last financial collapse, for instance.
That's no different than today. The only difference is that there's generally one or two default currencies available that the governing entity provides. You know pretty much everyone in your locality will accept this currency. If you wish to try and conduct trade in some other currency, you are free to try and do so, but no one else is obligated to accept your chosen form of currency.
Some people place personal freedom above all else. In order for them to have the personal freedom they want a central government can't exist. They view the government as an entity that exists solely to rob, murder, and kidnap anyone who doesn't agree with their arbitrary laws.
And yet, all the seem to do is sit around, bitch and moan about said governmental entity, while enjoying all the privileges and benefits living in such a country bestows, instead of actually going off and living the life they claim they want. They don't actually want freedom. They want to force us all to what they want.
Again, you're hoping that the other party isn't just going to tell you to fuck off. You're also hoping that you can afford to pay Sharper Security. If you're not well off, then you're fucked.
Not really. It can be used as a semiconductor, that's about it. Outside of that, you're banking on the "Oooooo, Shiny!" factor, which a lot of people simply won't care about.
It's likely not that they haven't figured it out. It's that they know the market for that device would be extremely small and limited, and likely wouldn't be worth going after.
Slashdot Mirror
Bullshit. Suppose BTC was a major currency, accepted like cash. How would that stop, say, the government of New Jersey from implementing gasoline rationing in the aftermath of Sandy? It wouldn't.
Not many people do that. However, most people buy groceries, buy gas, pay rent, stuff like that. And for the most part, you can't do that in BTC.
Highly Prized works (etc) of art are not just status symbols, they are wealth holders
Only in as much as there are other people willing to buy them.
Whether bitcoin actually succeeds or not, we'll at least get some really good data.
Not really. One of the bigger factors causing people to hoard them isn't just the deflationary aspect, but the fact that there isn't a whole hell of a lot to spend them on as well. If Amazon accepted BTC, that'd be different.
Why do that? Why not just make the units smaller? It seems pretty stupid to have to go down to 6 decimal places to get a candy bar or something.
The Keysian notion that spending in excess of tax revenue will cause goods and services to magically emerge from the ether
That sentence was completely inaccurate. They Keysian idea is that, in times of decreased economic demand, like a recession, the government is the only entity large enough to keep demand at some minimum level, and prop it up. It doesn't say that government spending causes anything to "magically emerge". It says that if no one else is buying due to fears from recession, the government needs to step in, so that everything doesn't completely collapse.
Loans are a good thing? Did you not learn anything from the banking crisis? No wonder this country is going to hell.
If it is, in fact, "going to hell", it's because of people like you who don't understand what was behind the banking crisis. Loans are a good thing. Misuse of them, over-leveredging, and selling bad investments are not. None of those things, however, are a direct result of loans.
Why would a bank lend out the money for someone to buy a house? Because they believe that they will earn more money through interest than they will otherwise. However, in this situation, they likely would see their money increase in value simply by holding on to it, rather than loaning it out. If they do, the loans would have to be at much higher rates, which means that fewer people would be able to afford it at all.
Just about everything you mentioned is a form of lending. In addition to that, doing it without the actual lending would require even more money.
Call it "saving" if you wish. The end result is that the currency is not being spread around and used for goods and services, meaning that there is less reason to produce these things, giving less incentive to create them.
No, you didn't. You talked about BitCoin. Not about deflationary currency.
Capitalism does not force workers to work at a factory
In theory, no. In reality, if you want to eat, you will work. And in many places, the options for those work are not as varied. And moving across the country, or even the state can take significant resources, which one might not have.
The majority of people choose to support governments that make it much more difficult to do that, but that is also a choice they make.
This is absolute fucking horseshit, and you know it.
I have a friend that became a multi-millionaire. He did this by creating a business out of nothing.
And I've known a couple of people who have created business out of nothing, and had that business fail miserably. I'm going to bet my anecdote is more common than yours.
The reality is, that Capitalism is better for the collective in the end.
That's a pretty subjective view of things. Capitalism has caused plenty of it's own problems, to which many people are NOT better off for it. The problem is that unchecked Capitalism rewards profit at all costs, and sees people as costs in that equation.
The real answer, like many things in life, is not purely one way or the other, but a balance somewhere in the middle.
And I know people who did fuck all and are making even better money. And I know people who have put in long hours of hard work only to be tossed out on their ass. So your example is worthless.
With what money? And if I'm a person who requires health insurance, due to a pre-existing condition, "starting my own company" just got even more expensive. Further, there are plenty of reasons not to do so, not the least of which is simply not having an idea, or not having the knack for business.
Starting your own business can be great, and I don't want to dissuade anyone from doing it. But to use that as the perfect answer to Capitalism's woes is absolutely retarded.
Everywhere. You're an idiot not to see it.
By making everyone free to choose how they will spend their own money, capitalism ensures that if you make bad decisions, YOU will suffer for it, not everyone else
That sound great in theory, but in reality, no man is an island. We are all connected, and the actions of some people can have disastrous consequences for everyone else. The last financial collapse, for instance.
And this, dear kids, is why communism doesn't work. There's always that asshole that abuses the system.
That's the reason why almost any pure economic system doesn't work, including unregulated Capitalism.
That's no different than today. The only difference is that there's generally one or two default currencies available that the governing entity provides. You know pretty much everyone in your locality will accept this currency. If you wish to try and conduct trade in some other currency, you are free to try and do so, but no one else is obligated to accept your chosen form of currency.
Some people place personal freedom above all else. In order for them to have the personal freedom they want a central government can't exist. They view the government as an entity that exists solely to rob, murder, and kidnap anyone who doesn't agree with their arbitrary laws.
And yet, all the seem to do is sit around, bitch and moan about said governmental entity, while enjoying all the privileges and benefits living in such a country bestows, instead of actually going off and living the life they claim they want. They don't actually want freedom. They want to force us all to what they want.
I cannot take any of these people seriously.
Again, you're hoping that the other party isn't just going to tell you to fuck off. You're also hoping that you can afford to pay Sharper Security. If you're not well off, then you're fucked.
And all of that takes just one asshole to fuck everything up.
Not really. It can be used as a semiconductor, that's about it. Outside of that, you're banking on the "Oooooo, Shiny!" factor, which a lot of people simply won't care about.
It's likely not that they haven't figured it out. It's that they know the market for that device would be extremely small and limited, and likely wouldn't be worth going after.