Originally Posted by franginho
You are stupid. It must have been a very easy birth for your mother, given that your brain is very small. Your claim was that "You say in your initial post in this thread, that bitcoins are not going to work because they are digital and will be measured against something physical..."
and then you point to this as your proof: The chances of you buying an orange with it at the corner store are very slim—it's just high-tech nerd to high-tech nerd transfers.
That's not an example of the currency being measured against something physical, but of being used to purchase something physical. You do know that currency is supposed to be used to pay for ****, right? You asked me to point to grocers who take gold—it's not that hard given the number of pawn shops in stripmalls next to grocers. The orange example was to point out that for most transactions, bitcoins are useless. Which grocers take bitcoins?
You have confused etymology and meaning. Vulgar has a connotation that "common" doesn't.
Nope you are a dip **** for believing so. Vulgar is from Vulgare which is common. It is used by dipshits like you to pretend to be better. So the joke is on you.
Note: I've already asked you to explain the causes of German hyperinflation, in order to demonstrate that you know anything about, well, anything. You've dodged it. One more time. Your next post needs to have your explanation of the causes of German hyperinflation, using a theory of money.
Yes they do have that... once more, look how long this stuff lasts when things go down hill. I once again refer you to Germany. It will work initially and then break down too.
Do you realize that in your previous post, you were arguing that
You do defend fiat money by proxy...
"You so vigorously try to defend a physical reference while history has shown that it can be removed, over time?" That is NOT fiat money. Now of course the problem is that you are such an imbecile that you don't use "physical reference" in the same way twice: in this thread so far you have used it to mean commodity standards for money (e.g., gold), commodities you can buy with money (e.g., oranges) barter goods (e.g., salt, tea) and now it seems you think it means physical currency (cash, coin) regardless of whether it is specie (backed by a commodity) or not.
"Physical reference" cannot mean all those things at once—especially not oranges!
Actually, you also said "Oh and for all those ney-sayers, What do you think will happen if banks, your country who ever stops using your currency of choice?" which is the first bit of gibberish that came out of your mouth. Then you followed up with the claim that gold is just like fiat money in a crisis situation, and to prove this you pointed out two situations where you thought* money wasn't used much—one because it wasn't stable enough and one because it was too stable—to show that...made-up imaginary currency by the Internet Bank of Anonymous Hackers will be more useful when **** hits the fan than gold.
I did not say that they are anything but a proof of concept that it your american dollars could be replaced by a pure digital form. And that it is a logical and very plausible step.
*ETA: of course, during hyperinflation money is used a lot. People spend it right away, as it will be worth less tomorrow.