BoE money printers are on fire

[scooterscot]

I love it when you realise you've lost and get all stroppy. Calm down, dear!

If you say so. Stroppy? Lost? (p/o up 340% this year - losing sucks).

[vwdan]

[Scooter being a moron]

Yeah, if you skip half the words in a sentence you probably won't be able to understand it properly. Combined with a suboptimal ability to read and absorb information I imagine you're going to have problems.

[scooterscot]

when BTC was in its infancy the Argentinian peso was used as an example of why BTC could work.
BTC is volatile. But less volatile than the peso was at the time.

Indeed this is true. And is becoming less and less volatile as we go on.

Where are the gains going forward do you think?

[darmstadt]

cash is only worth anything relative to something else.
When inflation is low/stagnant, printing money makes more money but doesn't actually devalue it against real goods. So it's not lost as much value as has been printed.

The bitcoin speculative bubble is isolated from that to some degree by the fact that it's not a currency that can be used in normal day to day transactions due to the astronomical charges.

Although you have to admit, Bitcoin is good for paying for porn and drugs so presumably these are day to day transactions for people who believe in Bitcoin

[Lance]

you really think that highlighting one part of my sentence to prove your point is a reasonable position. You missed the bi I've highlighted


"The bitcoin speculative bubble is isolated from that to some degree by the fact that it's not a currency that can be used in normal day to day transactions due to the astronomical charges."

when it costs over 30$ (or whatever it is now) for a single transaction you can't use it to buy a coffee, a meal, a pint. Hence it's not a currency that can be used.

[AtW]

I am not a tulipcoin fan but Bitcoin has stayed relevant because it is priced in dollars and a lot of people in a lot of countries facing high inflation have hedged themselves by buying bitcoin. In countries like Argentina you cannot just buy dollars, so bitcoin has proved to be an easy alternative.

It was possible to buy dollars even in Soviet Union

[Andy2]

With all this printing an average house in UK will cost a million quid in a few years
zimbabwe on thames , here we come.

[hugebrain]

cos BTC has got more expensive.

Your GBP is pretty much the same against all other FIAT currencies (USD, EUR, CHF etc). So it's worth the same as it was.

Is that like when you go over a waterfall, you're not really falling since you stay the same level as the water around you?

[dsc]

I'm dead serious, can someone explain why all this printing or borrowing isn't causing inflation to go up, interest rates to go up and generally causing all sort of, well you know, bad stuff which is supposed to happen when you just make money out of thin air?

On the other hand, if all this magic making actually isn't so bad, why the hell has no one done it before to solve issues like poverty, homelessness, pumping money into pretty much every area that needs money etc.?

[NowPermOutsideUK]

I'm dead serious, can someone explain why all this printing or borrowing isn't causing inflation to go up, interest rates to go up and generally causing all sort of, well you know, bad stuff which is supposed to happen when you just make money out of thin air?

On the other hand, if all this magic making actually isn't so bad, why the hell has no one done it before to solve issues like poverty, homelessness, pumping money into pretty much every area that needs money etc.?

It has caused inflation in stocks and houses. Fortunately those are mot included in the Uk inflation measure. I am serious here

The pound is down massively against eur and usd but that’s be the case for a while now. If you expecting food or diesel to fall in price that won’t happen but if this had not been tried then deflation would have happened because too much consumption took place in 2007