View Single Post
Old 07-05-2018, 03:36 PM  
thommy
Confirmed User
 
thommy's Avatar
 
Industry Role:
Join Date: Jun 2003
Location: Switzerland / Germany / Thailand
Posts: 5,469
Quote:
Originally Posted by jscott View Post
I am in full support of crypto, but is there a chance of crypto failing? sure there is. I am man enough to admit i don't know everything in this world, and in the future. You Thommy, can you admit that yes there is chance that crypto (specifically Bitcoin) can succeed? Or is your ego too high and mighty?
i donīt know if you ever had a few lessons about economy or have a clue about money - so i will explain it for you like i would do it for a child.

money is always representing ALL available goods you can buy.
if you print more money than goods it means that the money will lose itīs value.
got that so far?

as bitcoin is not a currency because no good in the world is priced with bitcoin, it is representing all money in the world instead of goods.

so far so good - now you can say that bitcoin is limited - but there is no limit on the number of different cyber currencies.
that means, that all of them together are representing ALL money in the world.
and as MORE you have as less value they will have.

there are actually a few thousand "limited cyber currencies" out there and another 50.000 will come.

it is the same as when you print dollar and think you can go over this rule and print additionally TROLLAR.
all DOLLARS AND TROLLARS together will not represent more as the number of goods you can buy.

if your plan would work then why people can not print their own dollars at home?
or adding more and more new currencies????

maybe bitcoin will survive. but not on such a level.
i am pretty sure that in 2-3 years we talk about 1 bitcoin 1 dollar and in 20 years nobody will even remember what it was because til than 1 million different LIMITED cyber currencies will represent ALL THE MONEY in the world.

is this SO HARD to understand ????

if yes i would recommend you to play a bit monopoly with your friends and let each one print additional money.
and then tell me if you can buy with all that more than all places on the monopoly board at the end.

WHERE is your logic ???
__________________
Open for handpicked publishers and advertisers:
www.trafficfabrik.com
thommy is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote