Please create an account to participate in the Slashdot moderation system

 



Forgot your password?
typodupeerror

Comment: Re:/.er bitcoin comments are the best! (Score 1) 249

by Archangel Michael (#49595865) Attached to: Bitcoin Is Disrupting the Argentine Economy

Not really. At some point, because it is currency (and not just an asset), it is useful and needed in commerce. Those products and services that actually provide usefulness become valued, while extemporaneous superfluous expenditures.

Here is a good example of the difference between currency and an asset. You had $1000 in 1987 to use. You could buy an Apple MacBook, or invest it in Apple stock. Looking back did you make the right decision between Asset or Currency (buying something). Now, if buying the MacBook made you enough money, to later buy $1000 in stock, and other things (it was a tool) then you made a good decision. If not, then it wasn't a good decision.

The long term view of deflationary CURRENCY is that it is also an asset, but it also remains a currency. It has double usefulness. Inflationary currency is a long term net loss if you hold it. It is a liability. The currency part means that you work hard, and save ANYTHING it because a net gain for you. There is no loss over time.

Comment: Re:/.er bitcoin comments are the best! (Score 1) 249

by Archangel Michael (#49595777) Attached to: Bitcoin Is Disrupting the Argentine Economy

And this is different than now how? You're under the assumption that what you said is something that isn't happening now. I already said the rich hold assets. Changing what is an asset doesn't actually change anything.

However, a poor man, being frugal, can become rich over time. A worker earns his wage and doesn't lose value before he is even been paid.

Here, I'll show you: A worker works for an hour, and earns a bit coin. The person paying him owes him a bit coin. If the currency is deflationary, the longer the payer holds that coin, the worse it is for the payer. He owes that coin no matter what its purchasing power is. Today, one bitcoin can buy a shopping cart full of food. Tomorrow, the shopping cart and something else (a candy bar).

With Inflationary money, a worker can work for $500, which can buy a shopping cart of food. If the payer holds that currency, the worker waits and when he gets it, he can buy a shopping cart of food, minus a candy bar.

Guess which is better for which person. I work for a salary. I haven't had a raise in 7 years. Guess what happens in the inflationary currency? If I work for deflationary currency, guess what happens (hint, it is the opposite).

There are other issues with deflationary currency. However, those that work hard, work extra, save currency are rewarded in deflationary currency market, and punished in inflationary currency.

Comment: Re:/.er bitcoin comments are the best! (Score 3, Insightful) 249

by Archangel Michael (#49587865) Attached to: Bitcoin Is Disrupting the Argentine Economy

People want to know why the rich keep getting richer? It is because they don't deal in currency, they deal in assets. Currency is only used when converting one asset for another. Most Currency is inflationary, meaning if you hold it, you lose. This is such a little known fact of life. BitCoin, should it survive will ultimately be deflationary currency, meaning it gains value the longer you hold it.

Think of it this way, you work hard, when you're young, you can retire if you save anything, because deflationary currency becomes an asset. But that doesn't bode well for the rich n powerful, or politicians who need a dependent class of people to take care of.

Comment: Re:/.er bitcoin comments are the best! (Score 1) 249

by Archangel Michael (#49587625) Attached to: Bitcoin Is Disrupting the Argentine Economy

Actually it doesn't have to match anything. It has to match what the market in Argentina bears. And since Bitcoin is deflationary, while Pesos are Inflationary they counter each other very well. By having Bitcoins, the average Argentine can increase wealth by performing services and charging BitCoins for them.

In terms of monetary terms, withholding payment in Inflationary currency (Peso) is a net gain, and unless you are paid in cash (or equivalent) immediately, Pesos are a losing proposition for workers. On the other hand, withholding payment in a deflationary currency (BitCoin) is bad for the employer, and good for the worker.

This will result in better economy for Argentina, at least for workers.

Comment: Re:Twisted perception (Score 1) 180

by Archangel Michael (#49587023) Attached to: How One Tweet Wiped $8bn Off Twitter's Value

Purchasing power of gold wildly fluctuates over time.

You say that like it is a bad thing. It isn't necessarily a bad thing, just different.

I'd say having unaccountable private enterprise (the Fed) in charge of money supply has, at least partially, been responsible for dismantling the middle class, and the accumulation of wealth by the few at the top.

Comment: Re:Twisted perception (Score 2) 180

by Archangel Michael (#49586749) Attached to: How One Tweet Wiped $8bn Off Twitter's Value

Basically that governments can't increase the money supply arbitrarily.

Our (US) government can't increase or decrease the money supply. The Federal Reserve, a privately held company does that. You want to know why we're screwed? Because only a handful of people have control of the entire US economy, and a large part of the world economy.

Comment: Re: I like this guy but... (Score 2, Informative) 433

by Archangel Michael (#49586209) Attached to: Rand Paul Moves To Block New "Net Neutrality" Rules

http://www.nationalreview.com/...

The U.S. Environmental Protection Agency gave its 2009 SmartWay Excellence Award to Georgia-Pacific, a Koch Industries company. “I commend Georgia-Pacific for its leadership in promoting sustainable transportation practices through the SmartWay Transportation Partnership,” said Margo T. Oge, director of EPA’s Office of Transportation and Air Quality. “These actions demonstrate a commitment to a cleaner environment and more secure energy supply.”

EPA gives an environmental award to a Koch Industries business unit. What Koch does is not cater to the Far left viewpoint of Environmentalist / anti Capitalist / socialist agenda. You know the "build wind farms, just not where I can see them" Kennedy types

"But this one goes to eleven." -- Nigel Tufnel

Working...