Quote from: Mervyn_Pumpkinhead on April 07, 2015, 11:22:56 AM

Quote from: Robert Paulson on April 07, 2015, 10:29:40 AM

if the only way a business plan is profitable is with fake stable prices then in reality that plan is a waste of resources, doesn't actually create value, and shouldn't exist.

money should tell business men what the real price of the resources their business is using so that they know if their business is still creating value.

the manipulated USD prices don't actually reflect real supply and demand becsuse they are being doctored to be "stable" when in reality neither supply nor demand are stable.

whats wrong with people speculating? speculators are just people who invest their money in what they believe to be a profitable business venture.

whats a "stock market shark"? sounds like something out of a fantasy book.

and whats a "professional speculator"? is that a speculator with a crystal ball?

It's not about faking the price of resources, but about linking prices to main natural resources that's supply and demand is relatively stable and predictable.

The supply and demand for important natural resources are stable, and that is what counts. The rest is up for the free market, and the prices for consumer products etc. do fluctuate together with changing supply and demand.
Without this stability, the entire economy would be in total chaos. You couldn't even sign a simple employment contract without having to gamble on what your salary actually is worth in a month.

Nothing is wrong with speculation if it's done in moderation. Right now, the speculators already have too much power in this modern public/private (costs go to public, and gains go to private) financial relationship. Bitcoin would make things a lot worse for the reasons I described in my previous post.

"Stock market shark" is a person who knows more about speculation then you do. He knows that speculation is not only about investing into profitable business ventures, but about manipulation and scheming. He knows how to abuse the existing system to his advantage to gain wealth without contributing anything significant in return. He is basically a glorified professional gambler. A gambler that would be rewarded a lot higher if something as simplistic and dumb as bitcoin would actually replace fiat.

I recommended to read more, since your point of view is naive at best. You can't even seem to comprehend the importance of stable valued currency, and how it is essential for even the most simple financial deals.

linking prices to main natural resources? that does not happen.

the reality is that the central banks calculate something called the CPI and it consists of a bunch of consumer products.
the central banks then manipulate the money supply so that no matter what the supply and demand are prices will go up about 2% a year.

im not even gonna go into how the central banks print money to save failed companies and how as a side effect that distorts the prices of everything.

the world was built on a gold standard without this "stability", its only in the last 40 years that money became paper.

the "speculators" don't have any power, what your talking about is a bunch of cronies who are in bed with the government, that's just one more reason why bitcoin is so good as money, the government can't bailout the cronies if it can't print money.

there is no such thing as a "professional gambler" and there is no such thing as a "stock market shark".
both are just gambling blindly.