Post
Topic
Board Speculation
Re: Dirty Fiat Money
by
Kazu
on 16/04/2013, 00:42:22 UTC
Of course.
As you always had, either your family or your business (but this time you're mostly a capitalist and you control a business indirectly).

What you're asking is highly immoral. You're asking for your wealth to grow without contributing anything, even an investment in the economy.
No we are asking for it to stay the same. Growth is just a side-effect. There wouldn't be any bitcoin banks (because borrowing Bitcoins is not profitable, since borrowing should be discouraged, not encouraged) so the amount you'd get from bitcoin once its been adopted would be the same or lower than what a bank promises today.
Quote
Clealy this is not good/fair for those who are contributing to society  (i.e. woking).
No, they earn money. The only people that lose money are (a) the people who lose their wallets, who contribute to the "interest" of everyone else using bitcoins (b) the people that spend more money than they earn and (c) the people that risked their money in some venture and lost it.

Which is exactly should be.
Quote
Instead you should indeed depend on others (hopefully you have while working helped out your parents or you fellow citizens)
Why exactly? (1) This encourages retiring as early as possible which is dumb for obvious reasons and (2) your retirement money should be dependent on what YOU earn while your working, not what the later generation is earning while they are working. If people WANT to pool their funds or contribute a portion of their wages to what is essentially an insurance fund then so be it, but there is no need to FORCE people to contribute it and pay the managers (i.e, banksters).
Quote
or be active in the market and thus invest in those who still work (if you want a more individualistic approach)
There is absolutely no reason why one cannot invest bitcoins.

Quote
Thus by storing money in gold or bitcoins for the purpose of an investment you are not only being immoral but hurting the economy since you are withdrawing liquidity from the market.
What? I'm withdrawing liquidity from the market? I just provided the other side of the trade to somebody who just wanted to sell bitcoins. Thus I am ADDING liquidity.
Quote
Having gold as a reserve has some moddest value to the economy in case a fiat currency is horribly miss-managed but that's far from the point. Nations and corporations who have it as a reserve do not have it as a investment and they have alot of other currencies to.
What type of a corporation would have a gold reserve that isn't an investment. Like, honestly.
Nations that have a gold reserve... Well, I'm not sure what you would call that, but I suppose an investment describes their motives roughly. They are investing money now in order to be able to manipulate prices in the future.