Your post is really priceless.
1) You didn't explicitly say VISA is currency/money. You implied this by comparing VISA to Primecoin. If i'm wrong why do you compare apples with oranges ? And be sure that even "average Joe" will see differences.
2) This thread isn't about eMunie? okay then don't refer to this scamcoin
3) You talk about central banks, but your video link is on commercial banks. Central banks create money out of nothing (that's why it's called Fiat, like in Fiat lux!), Commercial banks create money by issuing asymmetric debt (with $10 in assets central banks authorize them to lend 200$). It's certainly not the same business. Again you seem to mingle economics concepts, economics agents and relation between them. You want to learn a bit ? Go an buy G. Mankiw book Principles of Economics (even if it's a keynesian book, it's well written)
My point ? I'm really far far from being a noob in economics, and all your arguments against primecoin are /dev/null . They just show how much you're ignorant. Nothing more. Nothing less.
1) You didn't explicitly say VISA is currency/money. You implied this by comparing VISA to Primecoin. If i'm wrong why do you compare apples with oranges ? And be sure that even "average Joe" will see differences.
2) This thread isn't about eMunie? okay then don't refer to this scamcoin
3) You talk about central banks, but your video link is on commercial banks. Central banks create money out of nothing (that's why it's called Fiat, like in Fiat lux!), Commercial banks create money by issuing asymmetric debt (with $10 in assets central banks authorize them to lend 200$). It's certainly not the same business. Again you seem to mingle economics concepts, economics agents and relation between them. You want to learn a bit ? Go an buy G. Mankiw book Principles of Economics (even if it's a keynesian book, it's well written)
My point ? I'm really far far from being a noob in economics, and all your arguments against primecoin are /dev/null . They just show how much you're ignorant. Nothing more. Nothing less.
Ok, I get it, someone may have been butthurt because:
A) They just bought in Primecoin when the prices rose back to 0.009, thinking Primecoin is back to the glorious 0.019 days again
B) Were not in there from day one and just only figured how to mind this thing on VPS, only to find a factual report like mine to show up
C) Still hold lots of XPM, hoping to GRQ one day.
PS. Should I read a book to understand how economics work, because "academic" is my type and I can't think for myself? As a web marketer in an ever changing internet world one thing I noticed is that I tend to trust my own logical analysis, research and experience to find facts. Should I change that way of thinking and listen to the flock, like a sheep?
Thank you very much for your kind book recommendation, which has 3.5 out of 5 star ratings and a large number of reviews (18 so far since 2011 on amazon) - I hope it helps me understand how economics work just like it did to you
