General Cryptocoin Discussion

Vya Domus · Feb 25, 2024

80-watt Hamster said:
Central banks don't fund wars.

They are used to fund wars, money does not magically appear during wartime out of nowhere (well, it does with the help of modern banking, sort of), historically wars have always coincided with rampant inflation. Nations try to preserve their gold reserves as much as they can so instead their currency is driven into the ground in order to generate the capital to fund the war effort and that can only be done through banks.

It's one of the reasons currencies have been decupled from gold, to make wars "cheaper".

80-watt Hamster · Feb 25, 2024

Vya Domus said:
They are used to fund wars, money does not magically appear during wartime out of nowhere (well, it does with the help of modern banking, sort of), historically wars have always coincided with rampant inflation. Nations try to preserve their gold reserves as much as they can so instead their currency is driven into the ground in order to generate the capital to fund the war effort and that can only be done through banks.

It's one of the reasons currencies have been decupled from gold, to make wars "cheaper".

The medium of exchange is nigh-irrelevant. Currencies were decoupled from gold becuase it restricted the supply too tightly. Anything to do with warfare is a side effect. If Bitcoin were the currency of the realm, war would be funded with Bitcoin. If it were cowrie shells, that would be used.

kapone32 · Feb 26, 2024

Vya Domus said:
They are used to fund wars, money does not magically appear during wartime out of nowhere (well, it does with the help of modern banking, sort of), historically wars have always coincided with rampant inflation. Nations try to preserve their gold reserves as much as they can so instead their currency is driven into the ground in order to generate the capital to fund the war effort and that can only be done through banks.

It's one of the reasons currencies have been decupled from gold, to make wars "cheaper".

The Templars are a great example of a Central Bank and what you are describing is how they amassed their fortune. Up until the 1st World War, central Banks played a key role as a King could and would declare War on a rival. The whole end to the City State issue in Italy was also a result of central banks.

Vya Domus · Feb 26, 2024

80-watt Hamster said:
If Bitcoin were the currency of the realm, war would be funded with Bitcoin

You would not want to use bitcoin or gold or any other type of asset with an actual limited supply to fund a war.

AusWolf · Feb 26, 2024

Vya Domus said:
You would not want to use bitcoin or gold or any other type of asset with an actual limited supply to fund a war.

Is there a limited supply of bitcoin? As far as I'm aware, it's just a number on a computer screen backed up by a whole lot of nothing.

Zach_01 · Feb 26, 2024

AusWolf said:
Is there a limited supply of bitcoin? As far as I'm aware, it's just a number on a computer screen backed up by a whole lot of nothing.

Yes bitcoin count is finite (21M) and set in its code from day1. 19.6M are in supply now and it will take years until all are out because of the halving "reward" of blockchain.
Other coins are like this and other are not.

Numbers on screens... numbers on parers... with what physical value?

If we seek physical value on everything then a lot of things collapse instantly. Its just what we accept or not.

R-T-B · Feb 26, 2024

AusWolf said:
Is there a limited supply of bitcoin? As far as I'm aware, it's just a number on a computer screen backed up by a whole lot of nothing.

Yes. It's got a mathmatical limit and that's part of the reason it's constantly deflating.

AusWolf · Feb 26, 2024

Zach_01 said:
Yes bitcoin count is finite (21M) and set in its code from day1. 19.6M are in supply now and it will take years until all are out because of the halving "reward" of blockchain.
Other coins are like this and other are not.

Numbers on screens... numbers on parers... with what physical value?
If we seek physical value on everything then a lot of things collapse instantly. Its just what we accept or not.

The physical value of any currency (be it paper, metal coins, chocolate bonbons, or anything really) is its buying power. Bitcoin doesn't have much of that, so I don't understand how its relative value compared to other currencies can be so high.

R-T-B said:
Yes. It's got a mathmatical limit and that's part of the reason it's constantly deflating.

There's a mathematical limit to me too - there's only one of me. My value (if you look at my salary vs its buying power) still seems to be going in the opposite direction for some reason. :confused:

R-T-B · Feb 26, 2024

AusWolf said:
There's a mathematical limit to me too - there's only one of me. My value (if you look at my salary vs its buying power) still seems to be going in the opposite direction for some reason.

Have you tried selling your organs?

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