All posts made by Hopalong in Bitcointalk.org's Wall Observer thread



1. Post 12245682 (copy this link) (by Hopalong) (scraped on 2020-04-04_Sat_14.24h):

Quote from: heartastack on August 24, 2015, 10:54:38 PM
The broader issue is still that society isn't waking up to the need for crypto. Sure there are problems with BTC but if people actually cared about using it then an altcoin would have shot to the moon by now to take its place, even if temporarily. If the power is held by exchanges, then miners then merchants and consumers are down the bottom, then we're probably at the complete opposite of where we need to be.

There are no consumers. Just speculators.

Are we so sure it is the society who needs a crypto?

The strong belivers in crypto are mainly conspiracy theorists who want to get away from the evil goverment and geeks who loves the blockchain tech. There are also a few anarchist who see the potencial for breaking down beforementioned society with the implemention of bitcoin since it will break nations if it get used by everyone.

So what benefit has the society of bitcoin?



2. Post 12406075 (copy this link) (by Hopalong) (scraped on 2020-04-04_Sat_14.26h):

Quote from: JorgeStolfi on September 12, 2015, 06:14:56 PM
Can you imagine a design of cryptocurrency that would be to your liking, or is the concept as a whole damned to failure in your mind?

Hopefully that negative interest would be enough to dissuade hoarders and speculators.  


Most of this forum think the inflation of fiat currencies is a bad thing and that bitcoin has solved a problem with its fixed supply. They dont understand that inflation is a very important tool to keep investments going.


Imagine your national currency without inflation. The money you have in your pocket would never loose value. Seems nice if you dont have a lot of money but what happen if you had a lot of money. You could just hoard the money and live of ot for the rest of your life. There would be no interest in investing to make more money since investing is a risk.

With todays inflating fiat there is no point in hoarding money. Your money supply loose value if you just hoard them. You have to get the money out there and work for you. Either by investing or putting them in a bank and let them invest for you.

A fixed supply economy like bitcoin would be the end of investing. Why invest if you can just hodl to increase your holdings.



3. Post 12406583 (copy this link) (by Hopalong) (scraped on 2020-04-04_Sat_14.26h):

Quote from: billyjoeallen on September 13, 2015, 08:30:33 AM
Can you imagine a design of cryptocurrency that would be to your liking, or is the concept as a whole damned to failure in your mind?

Hopefully that negative interest would be enough to dissuade hoarders and speculators.  


Most of this forum think the inflation of fiat currencies is a bad thing and that bitcoin has solved a problem with its fixed supply. They dont understand that inflation is a very important tool to keep investments going.


Imagine your national currency without inflation. The money you have in your pocket would never loose value. Seems nice if you dont have a lot of money but what happen if you had a lot of money. You could just hoard the money and live of ot for the rest of your life. There would be no interest in investing to make more money since investing is a risk.

With todays inflating fiat there is no point in hoarding money. Your money supply loose value if you just hoard them. You have to get the money out there and work for you. Either by investing or putting them in a bank and let them invest for you.

A fixed supply economy like bitcoin would be the end of investing. Why invest if you can just hodl to increase your holdings.

Perhaps you didn't read up where I explained that "hoarding" is savings and it is absolutely essential for a healthy economy.  If there is no incentive to consume less than one produces, an entire economy's wealth is stagnant at best and consumed in one generation at worst.  We are currently watching this play out on a global scale.

It's laughable to claim that there would be no investing with a deflationary currency. The late nineteenth century in America saw prices fall almost everywhere and a massive increase in the standard of living. People would still spend a currency even if they knew it would go up in value forever because nobody lives forever. They just wouldn't spend it frivolously. That's a bad thing? We all need billboard-sized flat screen television sets and a new car every two years?

You must separate normal working people and rich people as i tried to do. Buying a new television is not investing. Building a sky skraper is investing.

Inflation gives those with a lot of money a push to get their money invested somewhere or it will loose value. A fixed supply coin like bitcoin is not good for investing but for holding. If we imagine a future with mainstream use of bitcoin it would be better to hold your bitcoin than to use them. The more you hold the more you earn because the value only goes up. Only stupid people would invest money they know would increase value into anything that might be risky. Thats why national banks will force inflation to the right level. To low inflation would ruin the economy since all investments stops. To high inflation is also bad since it makes people swap their money for something that will hold value and nobody invests.

The fixed supply of bitcoin is only good for speculation like this thread is about. Knowing what the supply is and what it will be in the future makes it easier to do the right moves when you trade.



4. Post 12406737 (copy this link) (by Hopalong) (scraped on 2020-04-04_Sat_14.26h):

Quote from: Elwar on September 13, 2015, 09:24:29 AM
People would still spend a currency even if they knew it would go up in value forever because nobody lives forever. They just wouldn't spend it frivolously. That's a bad thing? We all need billboard-sized flat screen television sets and a new car every two years?

This.

The consumerism economy that cheap money has created is ridiculous. Let's waste as much of our planet's resources as we can so that we can turn them into something we use for 5 minutes then throw away.

Investing so that your money is working for you? This creates a large part of society that is just living off of money working for them. That is not productivity, that is a drain on society.

As someone who actually lives on Bitcoin and from what I have heard of others who are doing the same, we spend our money on things that matter and don't waste as much money on frivolous things. Personally I have found it very freeing to not care about "stuff" anymore. Everything I own can fit inside a backpack and suitcase (other than my very economical car). I see posts on Facebook of some "cool" product followed by tons of posts of "I want!". While I look at it, think it's kinda clever and have no care for acquiring it. I spend most of my money on living life. I travel to a new country at least once a month. Collecting experiences as opposed to things. Enjoying people instead of possessions.

I feel bad for my co-workers who all have 6 figure incomes who are always complaining about not having enough money, and credit card bills and all of this debt. While they drive high priced cars (with insane gas bills), constantly have packages being delivered with new goodies and expensive places to live.

We share the view of this consumerism that is so popular now. I am like you and only buy what i need and never buy a gadget just because it could make me cool.

Investing is so much more than what you belive it to be. When i look out my window i see a fish farm. Someone has invested their money and created a work place for a lot of people producing food. Nothing is more important than food and those people are doing the most important work on the planet. No job is more important than producing food. Think about that when you see a farmer...

Without that first investments there would be no fish farm and no jobs and no food. Why would the guy who started the fish have done it if he could just sit back and earn money by just having them?



5. Post 12416651 (copy this link) (by Hopalong) (scraped on 2020-04-04_Sat_14.26h):

Quote from: Norway on September 14, 2015, 08:02:19 AM
Economists have know for 500 years that a currency must have some inflation, otherwise people will hoard it and it will not be available for use as a currency.  

During the past 500 years, there were long periods of effectively zero inflation where economies boomed. In the industrial revolution in Britain, for example.

Also, I don't think there was such a thing as an economist 500 years ago.

Gold and silver coins kept the price for a pint steady as a rock for hundreds of years.

Gold and silver has been the most trusted currency for a long time and it is inflationary. There will always be a supply of new gold and silver. Unlike fiat there is nobody that can manipulate the inflation of gold and silver.

A crypto could have a built in inflation that simulated gold and silver.



6. Post 12436922 (copy this link) (by Hopalong) (scraped on 2020-04-04_Sat_14.26h):

Quote from: LFC_Bitcoin on September 16, 2015, 10:34:47 AM
Down we go. I hope this ends soon. Better have stable prices, than the fear of doom. Wonder if I should be looking at an alt coin or just give up. Best thing to do is probably to turn of the pc, forget about BTC, and hopefully be positively surprised in a few years. Cold storage here we go..

Cold storage for 10+ years I think & then hope to see some significant progress then. If not then at least we tried.


And what have you tried to do?

As i see it you dont do anything but expect others to do it for you with this metod...



7. Post 12437993 (copy this link) (by Hopalong) (scraped on 2020-04-04_Sat_14.26h):

Quote from: LFC_Bitcoin on September 16, 2015, 11:24:50 AM

And what have you tried to do?

As i see it you dont do anything but expect others to do it for you with this metod...


What do you mean what have I done?

I'm just a regular guy, I've invested what I can afford to over the last 18 months or so into a speculative investment (bitcoin).

Whenever I've had spare fiat I've bought. I HODL a semi decent stash in cold storage in the hope that one day bitcoin booms & I make a better life for myself. Maybe it'll work, maybe I'll have pissed my money down the drain but I'm trying.

Why what have you done?

I am not talking about what you have done all your life. I quoted something and asked a question about a statement you had. Dont care what else you have done...



8. Post 12438172 (copy this link) (by Hopalong) (scraped on 2020-04-04_Sat_14.26h):

Quote from: LMGTFY on September 16, 2015, 01:38:23 PM

And what have you tried to do?

As i see it you dont do anything but expect others to do it for you with this metod...


What do you mean what have I done?

I'm just a regular guy, I've invested what I can afford to over the last 18 months or so into a speculative investment (bitcoin).

Whenever I've had spare fiat I've bought. I HODL a semi decent stash in cold storage in the hope that one day bitcoin booms & I make a better life for myself. Maybe it'll work, maybe I'll have pissed my money down the drain but I'm trying.

Why what have you done?

I am not talking about what you have done all your life. I quoted something and asked a question about a statement you had. Dont care what else you have done...



You said: "And what have you tried to do?" and then, without waiting for an answer, leapt straight to: "As i see it you dont do anything but expect others to do it for you with this metod..."

Given that, LFC_Bitcoin's reply seems entirely reasonable. Polite and restrained, even. LFC answered your question, and then asked the same question of you.

Did you read what i quoted?

As i understand he meant that putting his coins in cold storage and wait for others to make them valuable was some sort of contribution. It is not only him but many around here that think this way. If everyone did the same with their coins the whole bitcoin experience would be forgotten in a month...

Eveyone can do whatever they want with their coins buit dont tell anyone that you are trying to help out if you only try to help yourself.