Are you saying I cannot pay for your new turbo setup in bitcoins?

You absolutely can not pay for the TSE turbo kit in bitcoins.







Because the TSE turbo kit doesn't exist.

https://www.miataturbo.net/attachmen...ine=1387484473

Why does the y-axis need to be in log?

I LOL'ed at nonexistence of TSE trubo.

It shows that the gold "standard' after teh B-W conference, up to 1971, was a restraint on inflation.

Does it show causality?

If it does, what does it have to do with crypto currencies?


I tend to subscribe to the concept of "moneyness." Gold is money, but has poor "moneyness" in much the way a physical 10-year US Treasury bond does. Try paying your grocery or tax bill with either.

Bitcoin is also low on the scale, because it is accepted at so few places.

The USD has extremely high "moneyness" because it is accepted virtually everywhere in the USA and very widely around the globe.

I am not very knowledge on economic theory but my basic understanding relating to why "theres not enough gold" has not to do with the rise in value, but the literal creation of paper cash as a medium of exchange. For example, China, with tens of millions of people migrating from the countryside where they did not have a major 'impact' on wealth creation, move to the city, get jobs and join the economy, they produce much more money and consume more. This means, more paper money is needed so that more people joining the economy can have cash as a convenient medium of exchange for goods and services.


My point had more to do with speed of growth. Correct me if I am wrong but if we required all of our money to be back by gold, we would either have to get enough gold to represent the amount of credit the government feels the country is worth or needs. The other option is to increase the value of gold in ones country to make more money. If the above is true, they both would be slow and non responsive the needs of a country and the price of gold cannot be fixed in one country unless it regulates it's trade.

Real estate yes in that you will always have a place to live and can possibly grow your food. I guess it depends on why you believe things are becoming more expensive in the US.. Some believe decoupling from the gold standard caused overspending and creation of too much money. I would argue that increased costs have much more to do with the middle class losing its wealth and the .001 percent of the US pollution, the super wealthy, are running away with all of wealth that was created here in the US since Reagan dropped the tax rate on the rich from around 75% to 35%. From what I understand, the problem is not inflation, the problem is that people are not getting money which they should be getting. This leads to low demand because everyone is broke, then businesses have to raise prices and or cut workers, then it goes on and on. That is why, a flexible money system, which can create large amounts of credit and money FAST, is needed to 'kick start' an economy. EDIT: and the loss of tax revenue is related to the loss in reinvestment and deteriation of the social safety nets. Al put together, you end up with a poor, struggling, and uneducated public who can barely get by let alone buy things outside of necessity. That said, buying things of necessity will also boost the economy. Right now, nobody has money because the super rich took all the money so there is no more demand, which means more jobs are cut. Supply&demand leave out need.

I am not sure how that is relevant.


I do not think that there will be a single world currency BUT, I do believe that something like that will come out of Asia, for the sake of efficient trade. BUT, I am very aware of the loss in sovereignty and problems that may arise from loosing your own currency.


In my opinion, it is quite obvious that the US dollar AND Euro will loose value in terms of value on the world market. Simply due to the fact that you have 1/3 of the world's population living China and India, as the two countries develop and the people move toward a high standard of living and join the world consumer economy, the size of their economy will grow simply because there are so many freakin people. Rather than a crash in the US dollar from inflation, I look at it as losing it's piece of the world economy pie.

Number of completed TSE turbo kits = total amount of tangible value in all Bitcoin holdings worldwide

Very interesting interview!

I'd like to hear your explanation of causality.

It was more an explanation of why the final step in abandonment of the gold standard led to more rapid central-bank inflation.

Kanye West Sues -- STOP USING MY FACE ... On Virtual Currency | TMZ.com

https://www.miataturbo.net/attachmen...ine=1389721577

I'm much more hopeful for Dogecoin.

https://www.miataturbo.net/attachmen...ine=1389721955

Despite being a relatively new entrant into the "not Bitcoin" marketspace, its present trading volume exceeds that of all other digital currencies. It's also much more easily accessible, with a current exchange rate of 1 doge = US$0.00034.

http://dogecoin.com/

I mine a lot of minerals in starcraft2, i wonder if I can buy a tesla with those...

NO, you need more minerals.

The primary difference between North Korea and South Korea:

https://www.miataturbo.net/attachmen...ine=1389724587

So just like LeMan Brothers?

Really this is not a story. It's not the first time a bank has closed and people have lost money.

isn't the whole point of bitcoin is that something like this wont happen?

That's why I only trust Dogecoin.

Another Bitcoin Bank Shuts Down after Hacking Theft

Reuters
Mar 5, 2014


Flexcoin, a Canada-based Bitcoin bank, said it was closing down after losing bitcoins worth about $600,000 to a hacker attack enabled by flaws in its software code.

Flexcoin said in a message on its website that all 896 bitcoins stored online were stolen Sunday. Its collapse came after Mt. Gox, once the world’s dominant bitcoin exchange, filed for bankruptcy protection in Japan and said it may have lost some 850,000 bitcoins due to hacking.

“As Flexcoin does not have the resources, assets or otherwise to come back from this loss, we are closing our doors immediately,” Flexcoin said.

It later posted an update on its site saying that the attack exploited a flaw in its code on transfers between users and involved inundating the system with simultaneous requests to move coins between accounts.

“Flexcoin has made every attempt to keep our servers as secure as possible, including regular testing,” it said, adding that it had repelled thousands of attacks over the past few years. “But in the end, this was simply not enough.”


https://www.yahoo.com/tech/another-b...644434064.html