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Showing 20 of 682 results by Robert Paulson
I am curious to know why more people didn't try to warn others about entrusting TF with such large amounts of money if it was so obvious that TF was such bad news.
He was able to game DefaultTrust early on when the trust system came out. Anyone who attempted to question his trustworthiness was given a negative rating by TF and his friends from coinchat and their concerns were ignored by everyone due to the rating.
what are you talking about?
what does the fact that oil is sold in dollars has to do with the fact that the federal reserve prints money and distorts prices just so everything would be 2% more expensive?
money DOES NOT need to be stable, it NEEDS to reflect reality which means letting prices go both up and down according to supply and demand.
you want Janet Yellen to create a fantasy world for you where everything is stable but THATS NOT reality!
anyone who makes business plans based on this stability fantasy will eventually find out the whole economy was built on a house of cards.
You're just dumb as an ox, aren't you?
The fed doesn't distort or regulate the prices of consumer products, the free market creates prices in our everyday life.
The fed regulates that the availability of dollars would be in par with the availability of oil. Because oil is so important in the economy, it can set the overall tune of monetary value.
For the economy to be effective, different parts of it have to be in tune with one another. There has to be similar understanding of value, to give it numerical form and to put it into equations. The central bank is like a conductor in a choir to keep different instruments in harmony.
In spite my several efforts to explain to you that monetary value stability is necessary for even the simplest of financial deals, you are still unable to understand it. You just can't comprehend on why would people want to know what their salaries are worth the next month. Or how much weight does your investment have in the next month. You are just too dumb and fanatical to absorb this information. All you have, are your bags of bitcoin and your distorted view of virtues, that has been heavily influenced by personal ignorance and greed. If you would have ran your own business just once in your life, then you would already understand the importance of a stable currency. You would understand how it would be hell to do business in an environment, that has a currency with highly unstable value. I bet that you even only heard about the existence of FED after you saw couple of conspiracy videos from youtube.
Anyway, you are a great example on why I despise the majority of bitcoiners. They are like the Bolsheviks were, eager for revolution but just too dumb to understand the causes and solutions for the current problems, so instead of helping the society, they created a whole set of new problems, that are even worse then before.
alright then, enjoy watching the economy collapse (for the 3rd time in 15-16 years).
how much more misery will you have to take until you realize your theory of stability engineering (also known as ignoring reality and real supply and demand) is causing you to starve?
no one is going to be carrying physical gold and silver to pay in shops.
how will people buy things over the internet with metals? they'll have to have gold banks which i doubt anyone will trust after a default.
bitcoin is the obvious answer but most people are too stupid to realize it.
how will people buy things over the internet with metals? they'll have to have gold banks which i doubt anyone will trust after a default.
bitcoin is the obvious answer but most people are too stupid to realize it.
what you don't know is that you're grocer doesn't buy milk at the same price every day, he just buffers most of the volatility away from you and sells you at the average price.
once in a while he does adjust prices.
http://www.nasdaq.com/markets/milk.aspx
once in a while he does adjust prices.
http://www.nasdaq.com/markets/milk.aspx
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.
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.
It has already happened, junior. Oil gives dollar value. Since the 1971 or 1973.., a deal was struck with OPEC nations, that they would exclusively sell oil in dollars. As long there is a steady supply and demand for oil, then the dollar value can also be kept stable.
Calculated and predictable inflation shows stability. If I know how much my money is worth less in a year or two, then I can make an conscious choice; whether to be lazy and just sit on my money while it's value shrinks, or keep busy and invest my money into new progressive opportunities. I think that this reasoning is fair in a capitalistic way - reward those more, who do more.
I would even settle with stable deflation. I would say screw it, let's reward the lazy lards and increase the value of their "matress money" 2% each year. Let's reward those bastards for just being lazy and stupid enough for not investing their money into something.
But what I would not settle with, is that there is no stability whatsoever with bitcoin the currency. The next year could be +99% or it could be -99%. I think that this world would only suit for people with more serious intellectual disabilities. The world of bitcoin would be for people who would want to see their entire income as a constant form of blind gambling.
"The good old times of the gold standard" is basically a popular internet myth, that is mostly represented by those, whose only experience with finance has been through youtube conspiracy videos.
What has basically happened, is that gold has switched to oil. And it's a good thing since oil has more practical application and that means more predictability in demand. Practical need of the demographics can be easily predicted, but it's very hard to predict a value for something, that has very little practical application and most of it's market is ran by pure speculation.
If something is valued more then 50% on pure speculation, then trading that asset is already gambling in my book. Gambling can be fun when using funds that are meant to be used as entertainment, and there are people who know how to manipulate the odds and rules just enough to earn a steady income with gambling. But there's exactly where bitcoin should stay, at the Entertainment->Gambling section. It would be cruel to force everyone else to gamble with bitcoin, so they would constantly have to worry if their salary is worth less again, because the inflow of new greater fools slowed down.
I don't think that the main problems of our world is caused by malevolence. I think that the culprit here is mainly stupidity.
Take bitcoiners for example. They feel that the current financial system isn't perfect enough and something needs to be done to better it. Sadly, because they lack the education or experience needed to understand modern finance, they shout stupid slogans like replace fiat with bitcoin.
For those with at least little knowledge in finance, it sounds like "Hey this Volkswagen Polo R WRC isn't a perfect racer yet, so let's replace it with a shopping cart that has new innovative steel compounds in it's structure!". Yeah, it's nice to have an innovative gambling platform called bitcoin, but for serious finance, it just lacks the needed qualities to be a serious currency.
what are you talking about?
what does the fact that oil is sold in dollars has to do with the fact that the federal reserve prints money and distorts prices just so everything would be 2% more expensive?
money DOES NOT need to be stable, it NEEDS to reflect reality which means letting prices go both up and down according to supply and demand.
you want Janet Yellen to create a fantasy world for you where everything is stable but THATS NOT reality!
anyone who makes business plans based on this stability fantasy will eventually find out the whole economy was built on a house of cards.
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?
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.
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?
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?
If this is a cult then its the cult of sound economics and truth of which i'm proud to be a member.
anyone who uses "money" that Janet Yellen just prints out of thin air is the real lunatic, although unfortunately lunacy is the current mainstream.
the people who bought at 1000$ will win out in the end just like the people who bought at 11$ did.
i don't know how long it will take, but eventually the fiat money lie will collapse and people will move back to real money.
and just like any other successful venture anyone who is on the boat from early on will be rewarded massively.
anyone who uses "money" that Janet Yellen just prints out of thin air is the real lunatic, although unfortunately lunacy is the current mainstream.
the people who bought at 1000$ will win out in the end just like the people who bought at 11$ did.
i don't know how long it will take, but eventually the fiat money lie will collapse and people will move back to real money.
and just like any other successful venture anyone who is on the boat from early on will be rewarded massively.
once the mountains of USD debt starts being defaulted on and the hyperinflation kicks in due to the drop in USD demand without those debts the world will completely change within a year.
neither supply nor demand of anything are predictable and stable why should prices be?
prices need to reflect the change in supply and demand, thats why any attempt to make prices stable is nothing but a distortion of the market and the will of consumers.
its exactly because bitcoin's supply is completely predictable and not dynamic that its such a good form of money, things priced in bitcoin reflect exactly the balance between supply and demand without anyone manipulating it by increasing or decreasing the amount of money.
prices need to reflect the change in supply and demand, thats why any attempt to make prices stable is nothing but a distortion of the market and the will of consumers.
its exactly because bitcoin's supply is completely predictable and not dynamic that its such a good form of money, things priced in bitcoin reflect exactly the balance between supply and demand without anyone manipulating it by increasing or decreasing the amount of money.
In the mind of a bitcoiner, "honest money" is about making a bunch of speculators rich, who do nothing but buy, and then sit on their arse and hope really-really hard to become successful.
It's not like a honest monetary system should be about rewarding those, who actually contribute something useful to society. Let's all start to feed the honest leeches that are called bitcoiners. Their virtuous quests for easy riches are full of honesty and integrity.
It's not like a honest monetary system should be about rewarding those, who actually contribute something useful to society. Let's all start to feed the honest leeches that are called bitcoiners. Their virtuous quests for easy riches are full of honesty and integrity.
honest money is a type of money where you can't just print more of it and redistribute the purchasing power arbitrarily.
you have to understand that an economy can not function properly when capital is allocated according to the whims of politicians and bureaucrats at a central bank.
it has to be allocated according to supply and demand so that production of what people demand can occur.
in particular the interest rate has to be set by the market according to the supply and demand of savings.
the people who understand these basic truths and understand why bitcoin is more functional than gold will make a fortune.
it will happen eventually, once the Chinese start selling to their domestic market instead of loaning money to America just so it could use it to buy stuff from them.
that will be the end game of the USA, with a constant current account deficit of 440 billion$ every year the USA along with its military is completely dependent on China to continue throwing good money after bad.
http://www.tradingeconomics.com/united-states/current-account
that's what you get for abandoning free market capitalism and replacing it with a highly regulated paper money driven central bank controlled "market".
that will be the end game of the USA, with a constant current account deficit of 440 billion$ every year the USA along with its military is completely dependent on China to continue throwing good money after bad.
http://www.tradingeconomics.com/united-states/current-account
that's what you get for abandoning free market capitalism and replacing it with a highly regulated paper money driven central bank controlled "market".
deflation is the whole purpose of the economy.
when we manage to improve production supply rises and prices go down and so everyone can buy more things.
companies are still making the same amount of money because the higher sales volume makes up for the lower price and so wages stay the same.
what the government is doing today has nothing to do with improving economics, they need inflation to inflate their debts away.
they don't care that they are ruining the capital structure of the economy, wasting resources on bad investments and ruining production for everyone causing real prices to rise.
when we manage to improve production supply rises and prices go down and so everyone can buy more things.
companies are still making the same amount of money because the higher sales volume makes up for the lower price and so wages stay the same.
what the government is doing today has nothing to do with improving economics, they need inflation to inflate their debts away.
they don't care that they are ruining the capital structure of the economy, wasting resources on bad investments and ruining production for everyone causing real prices to rise.
Its as simple as that, whoever has the conviction to believe in honest money will eventually end up very wealthy.
its hard to hold through all the booms and busts, just ask anyone who bought at 1$ and sold at 10$.
its hard to hold through all the booms and busts, just ask anyone who bought at 1$ and sold at 10$.
Re: Economics says that mining should be profitable... So why is it unprofitable?
That's kinda like asking why is Tesla's stock worth anything (https://finance.yahoo.com/echarts?s=TSLA), the company never earned a single dollar since it was created.
money today is cheap, interest rates are at 0, and people are speculating that bitcoin will go up in price and their currently barely profitable mining operation will turn very profitable in the future.
money today is cheap, interest rates are at 0, and people are speculating that bitcoin will go up in price and their currently barely profitable mining operation will turn very profitable in the future.