Quote from: finnthecelt on July 01, 2011, 03:34:15 PM

Quote from: deuxmill on June 30, 2011, 03:41:48 PM

Quote from: finnthecelt on June 30, 2011, 01:04:05 PM

Quote from: Andrew Vorobyov on June 30, 2011, 12:20:28 PM

Quote from: hugolp on June 28, 2011, 04:48:09 PM

Inflation benefits the people that have more wealth because it props up their assets, while it goes against the people that earn a wage (usually the middle class and the poor) because it devaluates their wages. The basic mistake you are making is believing the wealthy keep their wealth in currency. They dont.

I don't care who will profit - rich or poor - from inflation currency.

In order to have big enough lending activity people should be discouraged from storing value in currency for long term.

If wealthy do not keep their wealth in currency - objective met. If they are running successful businesses - they have right to be wealthy.

Another enabler....... Seems you haven't put a lot of study into the monetary systems of the world and how one becomes uber wealthy. Their goal is to own nearly everything and make you a slave. At least they want to own everything that can be the facilitator of some type of transaction fee. Indenturing the world....

You're ok with this?

and this ain't happening with Bitcoin?

Bitcoin changed the printing process of currency and that is great but by being limited it is GOLD. Some early adopters (we that are already in the system) will have large amounts and will be able to dictate the price others won't have at all. Now if a new currency i don't talk about Bitcoin but another one which would have an incentive for investing/spending for example inflation or taxation of wealth built in then i would adopt that currency . Bitcoin from what i understand has a constant monetary mass growth that is great until we reach the 21 mil limit then what will be the incentive to spend bitcoins other than changing in state accepted currency? If the hole purpose of bitcoin is a intermediary currency to facilitate transactions from one state backed currency to another or speculation than great it wont matter how valuable it will be. But i don't want an intermediary currency or digital gold i want global money printed by people and not by governments or banks or churches or other power pillar , that will facilitate trade and progress and not wealth.

Currency can't solve all the problems and it needs to be mixed with other measures but we are talking about currency here.

Ok, I see what you are saying. There's only one problem with this line of thinking and that is that many people are caught within the inflation system. They do not have the ability to ~~lend~~ borrow or save. They are swimming for thier very lives. They never asked for a system in which a few people control the money supply. Many never have any excess currency to trade for wealth of any pedigree.

What you would call progress and trade many would do away with so they could catch a breath. Wouldn't it be nice to have a currency that was also wealth so that if you could manage to minimize your expenditures you would be able to save something of value? Through a number of mechanisms I assure you that this would promote a barter system and enhance communities. Many would ban together to trade goods and services in order to keep their wealth/currency. Perhaps to service debt???

This is well understood by the power elite today. They use currency and debt and these businesses you speak of to offer us jobs and steal our time and tear our families and communities apart.

So basically you are saying that something that is engineered to gain value would help those people that are spending all their income on every day living? If you have none it won't bring you more. You need some that you are able to save to gain something from it's gain in value. Bitcoin like currencies have the advantage of not being centralised and so you don't have to convince a bank to lend you some money you can find a person that mined some and maybe start something profitable . If the currency looses value over time then that person might be even happier to spend the money on a business then stick to them. Once you create a product or a service you are in control over how much you ask for it. Now if we combine this with all the open source thinking that is happening all over the place we would have a really low point for entering in many businesses .

Weal if you barter you don't need currency . If you are willing to accept tomatoes for clothes then go ahead i would love to see you manage them.

Barter would bring you loses and headaches that is all. Or you will accept to barter only for certain things ? Please explain how would a clothing manufacturer barter , so he will accept basically whatever you can throw at them and then they would try too sell those funny things to someone who wants them until they get what they need to produce the clothes or they would ask only for cloth slightly more then what was used to produce the previous clothes? Are you serious ? This is exactly why currency was invented so that everyone could accept it and not have to manage all those different things people consider of value , and that is also why currency shouldn't be a medium to store wealth because it's only purpose its to be given away for things you need.

So to make it clear. Bitcoin is a revolution and it should remain just as it is . A deflationary currency . It should behave just like gold because it is gold , digital gold. Gold was valuable because it is a material that ain't degrading so it can be stored. it didn't have any practical use until modern times when we started to use it in tech . But now i'm hoping for that successor of bitcoin that will free the world of organisations like states and banks etc. at least on the level of money.