if bitcoin's value is so high because so many people use

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Anonymous
2017-07-04 05:11:37 Post No. 2704596
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Anonymous 2017-07-04 05:11:37 Post No. 2704596 [Report]

if bitcoin's value is so high because so many people use it and why fiat currencies like usd/eur dont have so high values ?

Anonymous 2017-07-04 05:14:06 Post No.2704611
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Anonymous 2017-07-04 05:14:06 Post No.2704611 [Report]

>>2704596
Supply and demand

Anonymous 2017-07-04 05:14:29 Post No.2704613
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Anonymous 2017-07-04 05:14:29 Post No.2704613 [Report]

because fiat isnt pegged to anything, theres no cap on the circulation and the banks can (and do) print more at will - ultimately driving the price lower and lower

Anonymous 2017-07-04 05:14:49 Post No.2704619
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Anonymous 2017-07-04 05:14:49 Post No.2704619 [Report]

>>2704596
There is, (will be), a finite amount of bitcoin. Then there will only ever be that much.
USD is printed from machines, while being supposedly backed by gold, it can and will be printed forever.

Anonymous 2017-07-04 05:17:42 Post No.2704645
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Anonymous 2017-07-04 05:17:42 Post No.2704645 [Report]

>>2704619
>while being supposedly backed by gold
What ISP lets you post from 1971?

Anonymous 2017-07-04 05:20:37 Post No.2704662
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Anonymous 2017-07-04 05:20:37 Post No.2704662 [Report]

>>2704596
look at the marketcap of fiat, it dwarfs crypto by several orders of magnitude

Anonymous 2017-07-04 05:21:10 Post No.2704668
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Anonymous 2017-07-04 05:21:10 Post No.2704668 [Report]

>>2704619
dumbass nixon took the dollar off the gold standard

Anonymous 2017-07-04 05:23:18 Post No.2704682
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Anonymous 2017-07-04 05:23:18 Post No.2704682 [Report]

>>2704662
lol does fiat even have a market cap?

Anonymous 2017-07-04 05:24:05 Post No.2704689
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Anonymous 2017-07-04 05:24:05 Post No.2704689 [Report]

>>2704613
driving the price lower and lower?

when have we every had delfation? lol

Anonymous 2017-07-04 05:24:19 Post No.2704690
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Anonymous 2017-07-04 05:24:19 Post No.2704690 [Report]

>>2704668
It wasn't his fault, France wanted to trade the USD they had from international trade for gild and the US didn't have enough gold to honor this because they had been printing more money than they could back with gold for decades.
He was just the guy sitting on that bomb when it went off.

Anonymous 2017-07-04 05:24:54 Post No.2704696
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Anonymous 2017-07-04 05:24:54 Post No.2704696 [Report]

>>2704619

>US Dollar
>backed by gold

t. american education system

Anonymous 2017-07-04 05:24:59 Post No.2704697
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Anonymous 2017-07-04 05:24:59 Post No.2704697 [Report]

thank /biz unexpectedly quite helpful posts

Anonymous 2017-07-04 05:25:50 Post No.2704704
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Anonymous 2017-07-04 05:25:50 Post No.2704704 [Report]

>>2704682
there are different measures of the amount of "usd" outstanding, usually measured by m1, m2, m3 etc

Anonymous 2017-07-04 05:25:53 Post No.2704705
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Anonymous 2017-07-04 05:25:53 Post No.2704705 [Report]

>>2704596
Because everytime someone borrows money from the bank, the bank creates that money. Money is not printed anymore. Its entered in to the computer. There is 6 times more debt in the world than the worlds GDP and every day theres more. Which means, you can never pay off the debt. Because there is more debt than money. Fiat currency is at the end of its life.

Anonymous 2017-07-04 05:25:56 Post No.2704707
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Anonymous 2017-07-04 05:25:56 Post No.2704707 [Report]

>>2704689

i meant value obviously

Anonymous 2017-07-04 05:30:02 Post No.2704736
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Anonymous 2017-07-04 05:30:02 Post No.2704736 [Report]

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>>2704707
bitcoin in circulation has increased by ~1mil in the last year (about 6% increase)

https://blockchain.info/charts/total-bitcoins

which is much less than the amount of which the supply of usd has increased.

Anonymous 2017-07-04 05:30:05 Post No.2704737
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Anonymous 2017-07-04 05:30:05 Post No.2704737 [Report]

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>>2704707

Hmm, is there some sort of fancy word for the concept of a currency losing value?

Anonymous 2017-07-04 05:39:44 Post No.2704802
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Anonymous 2017-07-04 05:39:44 Post No.2704802 [Report]

>>2704736

duh but theres a cap at 21 million
fiat can be printed into eternity

I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible. Read more on this topic here - https://archived.moe/talk/thread/1694/

I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible.
Read more on this topic here - https://archived.moe/talk/thread/1694/