All posts made by LittleDigger in Bitcointalk.org's Wall Observer thread
1.
Post 10198076 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.50h):
2.
Post 10198155 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.50h):
Bitcoin Today: https://www.youtube.com/watch?v=-xy-kUckbTw#t=75
Everything's gunna be fine
Ahh, My SexCoin buddy! Still butthurt about that, huh
Just concerned about your lack of quality trolling, lately.. Started taking your medication again huh ?
3.
Post 10198300 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.50h):
4.
Post 10198411 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.50h):
Helps when the initial value is nothing (ZERO)
Doesn't help when initial value is backed by something that is known to have worth which is later taken away with the promise "trust us" to the background sound of the printing presses being fired up.
Relax, Belgium is now buying all the Treasury Bonds that Russia is dumping, while China is moving to back it's currency with gold.. The petrodollar as a reserve currency is as secure as world peace....
5.
Post 10198534 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.50h):
Aren't you lucky that there is someone in this thread whom you can vent your frustration on when you see your investment do in 1 year what the dollar did in 100 years?
Glad to oblige.
PS. Only idiots keep their savings as currency. I wonder if it is genetic?
It's only taken the dollar about 50 years fwiw.
Richy, you simply don't understand how things work.
The dollar is a means of exchange, it is not intended to be a good store of value. Its value depreciates over time, just as it is meant to do.
Only the illiterate few stuff it in mattresses/jelly jars. the same sort of people who put unfinished food under their bed, and complain when it's not edible a year later.
How can this be so difficult to grasp?
And US Treasury Bonds are the safest investment, right?
http://www.bloomberg.com/news/2015-01-14/treasury-bond-yield-drops-to-record-as-oil-rout-damps-inflation.htmlhttp://usawatchdog.com/fed-laundering-treasury-purchases-in-belgium-to-disguise-whats-happening-paul-craig-roberts/http://www.globalresearch.ca/petrodollar-panic-china-signs-currency-swap-deal-with-qatar-and-canada/5413467
6.
Post 10198649 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.50h):
My wealth keeps being stolen from me but it's okay because it's supposed to happen!
Nothing is being stolen. Nothing will be taken from you if you don't use the dollar for stuff it was never intended to do, like trying to use it as a permanent store of value.
You might as well bitch about the $ being a gyp because it makes a lousy pet.
It's not meant to be matress stuffing any more than it's meant to be a pet.
What level of lunacy am I up against here? Do you complain about milk being a ripoff because it doesn't last for years?
Sigh... the demand for the US dollar is being propped up as it was the "petrodollar" now Russia is selling oil in other currencies, Iran has also proposed this, and was going to build a pipeline through Syria.. until it destabilized...
The dollar is also the "reserve currency" this was agreed to at the end of WW2, backed by gold, until other countries noticed so many dollars being printed and started asking to have it redeemed for gold, and Nixon switched to "fiat".. China is challenging this by backing their currency with gold.. I assume you know the reserve currency is the currency in which commodities are priced and traded in...
Basically there is a "Currency war" raging right now, and if the US "loses" the dollar will be in trouble... C'mon Lambchop don't tell me you don't know the basics of the monetary system...
7.
Post 10198784 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.50h):
...
>Do you complain about milk being a ripoff because it doesn't last for years?
Nobody uses milk for it's purchasing power, now or present. It's a good that is bought and 'used'.
...
No one uses money as a permanent store of value either. At least no one sane does.
Now that you know this, stop.
@LittleDigger: Good thing you invested your worthless USD into SexCoin, the seriously excellent store of value immune to "currency wars"
For me not to profit from Crypto, bitcoin would have to go a couple of thousand into the negatives...
But I moved the majority of my liquidity into hard assets, just like Warren Buffett has been doing...
Bitcoin aside, I don't think you really understand how money works, which surprises me.. All joking aside, I thought you have made some intelligent arguments, but it's obvious you don't even understand what a "fiat" currency is, what the "reserve currency" is, what the "petrodollar" is, and how it came about..
That's a real pity, because in the coming years it will be useful information...
8.
Post 10198939 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.50h):
Currency is supposed to circulate, not to be hoarded or hidden under the mattress. It's not expected to rise in value.
You people should stop following Mises and Austrian economics. We're no longer in gold standard, you should learn how modern monetary system works before writing nonsense.
Yes, It should, so why isn't it ?
You, know I'm not going to walk you through it, let's just say you are right, but I'll act as if you aren't cause I'm too arrogant to admit it..
9.
Post 10198982 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
^How's that SexCoin of yours doing tho? All good? Value stored? Velocity up to speed? Farting through silk yet?
You know I've warned you about this before.. Memes and insults are fun, but don't interrupt when adults are talking... OK, Lambie
10.
Post 10199135 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
^How's that SexCoin of yours doing tho? All good? Value stored? Velocity up to speed? Farting through silk yet?
You know I've warned you about this before.. Memes and insults are fun, but don't interrupt when adults are talking... OK, Lambie
If a teenager taunts you in the street, do you actually waste your time
discussing with him (loudly so everyone in the neighborhood can listen) or do you go on with your business because...you know...
you might actually have more interesting things to do?
I got a soft spot for him, I'd like him to learn a little math.. Like MV=PQ.. But I think you are right ... It's about that time..
11.
Post 10199162 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
Kids, Deflationary means it gains in value, Inflationary means it loses value.. USD is inflationary prices rise because it loses value when more is printed..
Edit: maybe they should find an economist who gives lessons in crayon..
Play nice, I have to go to work now...
12.
Post 10199486 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
Yawn!
How come i never see any german notes from after the 2nd world war?
They were too valuable a commodity to use to keep the stoves burning
100 Mark "Goldmark" I just scanned.. Wonder If I can redeem it for the 3.58 grams of gold from a central bank.. A contract is a contract
13.
Post 10199571 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
Kids, Deflationary means it gains in value, Inflationary means it loses value.. USD is inflationary prices rise because it loses value when more is printed..
Edit: maybe they should find an economist who gives lessons in crayon..
Play nice, I have to go to work now...
I meant to say the usd deflates as the economy inflates, chose wrong wording
Inflation of base money supply ("printing money out of thin air" to the local intelligentsia) does not equal price inflation (inflation as we know it, "price inflation," shit getting more expensive).
Bitcoin has been "printing money" (mining) at breakneck speeds since the git-go, and BTC prices have risen for quite a while. It's only now that Bitcoin is failing to support ~12% yearly monetary base inflation rate.
If there was only a way to slow down the money printing press... but alas, it's algorithmically predetermined
Not that simple.. The equation of exchange states MV=PQ or Money supply X velocity = price level X quantity of goods.. So quantity of money printed, amount of money changing hands, or quantity of goods in the market place changing can effect price level.. causing inflation...
14.
Post 10199768 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
... or quantity of goods in the market place changing can effect price level.. causing inflation...
It's exactly that simple.
If you don't understand or disagree with something I said, please quote it.
Also:
marketplace
affect
"." (period) or "..." (ellipsis), ".." is just fail.
Because spelink counts!
Awwww... Don't feel threatened, I was remarking on a conversation with more than one participant. I might not have been referring to a comment made by you. From the "git-go" and all that "shit"
15.
Post 10199966 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
An aside for those who don't follow Bitcoin "securities": The original pic, without the text, was taken from the website of NeoBee, Bitcoin's Premiere Bank, A Cyprus-based institution which ran away with investor's coin. Just like Pirate@40's Bitcoin Savings and Loan, Ukyo's WeEx, TradeFortress' whatever he called that thing, etc., etc.
And here's me with a 1910 "Goldmark", a government currency, backed by gold and unable to collect. Don't forget the Deutsche Bundesbank in your list of "scammers".
16.
Post 10200040 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
An aside for those who don't follow Bitcoin "securities": The original pic, without the text, was taken from the website of NeoBee, Bitcoin's Premiere Bank, A Cyprus-based institution which ran away with investor's coin. Just like Pirate@40's Bitcoin Savings and Loan, Ukyo's WeEx, TradeFortress' whatever he called that thing, etc., etc.
And here's me with a 1910 "Goldmark", a government currency, backed by gold and unable to collect. Don't forget the Deutsche Bundesbank in your list of "scammers".
Lol, yes, there were gold-backed (i.e. "not fiat") currencies [almost] as bad as your SexCoin, what's your point?
Just that no currency is carries absolute security, wars, empires, and currencies come and go.. At the end of the day you are
trusting some sort of promissory note.
17.
Post 10200121 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
"The story of the destruction of the German mark during the hyper-inflation of Weimar Germany from 1919 to its horrific peak in November 1923 is usually dismissed as a bizarre anomaly in the economic history of the twentieth century. But no episode better illustrates the dire consequences of unsound money or makes a more devastating, real-life case against fiat-currency: where there is no restraint, monetary death will follow.
“It matters little that the causes of the Weimar inflation are in many ways unrepeatable; that political conditions are different, or that it is almost inconceivable that financial chaos would ever again be allowed to develop so far,” wrote British historian and MP Adam Fergusson in his 1975 classic, When Money Dies. “The question to be asked — the danger to be recognized — is how inflation, however caused, affects a nation.”
The US Federal Reserve of 2014 is not the Reichsbank of 1914. Yet today’s policy mindset is dangerously reminiscent of the attitudes that helped to excacerbate the economic downfall of inter-war Germany. These include: the unrestrained financing of budget deficits under war and post-war conditions; the unaccountable creation of the money supply by a central bank; the creation of undisciplined credit linked to this expansion of the money supply; the aggressive inflating of asset values; the discounting of short-term treasury bills and notes in practically unlimited amounts; rapid currency depreciation, and a ratio of federal debt to GDP over 100 percent."
http://davidstockmanscontracorner.com/27637/Seems like my "Goldmark" has more in common with USD, than Bitcoin, Lambie
18.
Post 10200474 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
19.
Post 10204091 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
Buys are coming in because Bitcoin will soon be in the faces of every Facebook user via ChangeTip. Lots of new Bitcoiners will soon enter the space due to this increased exposure.
Does changetip provides pay by PayPal or credit card
? Otherwise, don't think the Facebook user will bother open an exchange account or coinbase account just because they see some tips in BTC.
EDIT:
Just tried by myself. New users get $0.5 for free and then they have to either top up by BTC or have to register a coinbase account. Really wish them to provide a BTC purchasing service by themselves, otherwise I don't think that will attract many non-bitcoiners.
Yeap, I gave it try and it's easy, and there are lots of little businesses on facebook that could benefit... But customers actually going through the process to get bitcoin, and people cashing out from bitcoin need to be just as easy rather than a massive pain in the ass....
20.
Post 10207132 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
21.
Post 10207269 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
swiss central bank depegs the franc from the euro ..
the Dow Jones sinks over 2%, while silver went up 7% and gold went up 4.5%:"
bitcoin being in it's own world is.....down.
it seem like something wrong in bitcoin world .
Lets face it the price is mainly based on speculation, not utility..
22.
Post 10207508 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
bitcoin is a shitcoin, if you are smart than you would invest in bitshares
23.
Post 10207563 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
swiss central bank depegs the franc from the euro ..
the Dow Jones sinks over 2%, while silver went up 7% and gold went up 4.5%:"
bitcoin being in it's own world is.....down.
it seem like something wrong in bitcoin world .
remember, even if currently about 800k $ get invested into Bitcoin, it will only cover the inflation. You have to add every merchant instantly selling + regular sellers.
That's a hell of selling pressure every day. That's the main reason we will most likely stay in this bear market until something drastic happens. Like a Fiat Currency Crashing (€, $ or ¥).
If nothing magical happens, the next halving of the mining reward would at least take out some pressure so the currency could grow in value.
yup i do remember the inflation of 3600 bitcoins everyday. i agree with your assessment. i think the swiss didn't unpeg from euro and hurt their own economy just for the heck of it. somethings going on.
There was an influx of money into their country ..its pretty much made them de-peg. I'm basing this off one article I read though
Any chance of a link to the article ?
24.
Post 10207704 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
bitcoin is a shitcoin, if you are smart than you would invest in bitshares
lol are you invested in sexcoin?
LMAO, Yeap, I knew as soon as I posted, that would be the comeback.. But it is 4am, I am bored and I did finally get to make a Drill Sargent meme..
I capitulate.. you got me.. can't defend that....
25.
Post 10207908 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
Thanks This one is more detailed, found it a minute ago.
http://www.economist.com/blogs/economist-explains/2015/01/economist-explains-13Basics.. Francs value was pushed up by investors seeking a safe haven from volatility
Franc pegged to euro by quantitative easing to stop rise.
Extra Francs used to buy Euros for foreign reserves. (helping to prop it up a little I suspect)
Political panic about hyperinflation and proposed QE of the Euro leads to decision to stop...
26.
Post 10209715 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
Trying to get my head around deflation... came across this.. Just started reading but interesting..
http://www.deflation.com/understanding-deflation/
27.
Post 10213397 (copy this link) (by LittleDigger) (scraped on 2020-04-04_Sat_13.51h):
Regarding the Swiss Franc - I think that the event is further evidence that there are some serious tectonic plates shifting in the financial markets. Oil is going nuts, the Eurozone has a serious deflation and unemployment crisis (along with a number of acute events on the horizon - ECB QE decision and Greek Election), China's slowing down while it experiences a weird stock market bubble and Japan is running an unprecedented monetary experiment in the hopes of ending a decade of deflation.
The question is whether Bitcoin will be considered a Safe Asset due to the fact that it can't be controled by a central bank, or will it be lumped into the "risk asset" category and go down with oil and stocks...
I think that it will depend on what financial events happen over the next 6-12 months, the status of the Bitcoin ETF and of course the broader adoption of Bitcoin (or something built on Bitcoin) by average consumers.
I think that's pretty much spot on. The ability to use Bitcoin over facebook is impressive as a demonstration of the networks potential to facilitate peer to peer microtransactions, we've seen economic hardship give rise to localised alternative currencies in both the US and Greece. There is the increasingly less remote possibility that fiat currencies encounter so much turmoil that it triggers adoption of Bitcoin by necessity in some communities.
http://www.nytimes.com/2011/10/02/world/europe/in-greece-barter-networks-surge.html?pagewanted=all&_r=0 http://money.cnn.com/2012/01/17/pf/local_currency/
