John Sam Rayburn
Active Member
My original content meme for today. 
Y'all ready for FedCoin™?
- Thread starter TheDan
- Start date
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John Sam Rayburn
Active Member
Here is my Amdro. I enjoy writing the price of things I purchase on the package.
Ignorant people see this photo and think Amdro went up 25% in 6 years. It did not.
Bitcoiners know what actually did happen.
Ignorant people see this photo and think Amdro went up 25% in 6 years. It did not.
Bitcoiners know what actually did happen.
John Sam Rayburn
Active Member
Did Amdro become 25% better in 6 years? No.
Did Amdro become 25% more difficult to produce over the last 6 years? No.
What did happen is that each U.S. Dollar lost 25% of its value due to the Federal Reserve creating Trillions of new ones out of thin air since 2017 with mouse clicks.
If you put $10,000 in your Retirement Account 6 years ago, today those funds will buy $7,500 worth of stuff.
$2,500 was STOLEN from you. Only a Fool would save for Retirement in a currency that can be stolen so easily and predictably with mouse clicks.
No it's a deflationary asset, which is the main argument against it. The problem with BTC for the Central Banking Cartel is that it represents a protection against their inflation tax. They've tried to control it by telling the investment banks to sell it off (to drive the price down) and to short it, but the problem is there isn't ENOUGH BTC in their hands to collapse the asset.
The largest group Morgan Stanley: Between August 2021 and May 2022, Morgan Stanley topped the list of banks investing in crypto and blockchain-related firms. The global investment bank pumped nearly $1.1 billion into the crypto ecosystem over two rounds of investments during this period
1.1 Billion sounds like a lot, until you realize that the current Market Cap is 515 Billion JUST FOR BITCOIN. If they sold off everything it would be absorbed by people like me in a month.
You can't CREATE more BTC.. there is 21 million and actually 2 million are lost forever so there is only 19 million. No way to manipulate that number.
the famous statement 1 BTC = 1 BTC will always hold true.
Regardless of the aspects of bitcoin -
You'll still be paying out $25 for that Amdro - whether you do it with greenbacks or bitcoin.
Think of coins more of a security (stock) than a currency. Supply of any given coin is controlled by the math formula used to produce the tokens. For example, Bitcoin is limited to 21 million tokens total. Supply/demand drives price of the token and is independent of any particular country’s fiscal/monetary policies.
Some tokens are backed (tethered) to real assets (gold, dollars or other reserve currency, real estate, etc.,) and are known as stablecoins in attempt to stabilize the value of the particular token. More than a few of these basketized tokens have broken their tether though; some have rebounded, some haven’t.
John Sam Rayburn
Active Member
Inflation refers to the amount of a particular currency that exists in the world, the number of units of that currency.
The media has tricked people into thinking "Inflation" means "an increase in price". It does not.
Deflation is a reduction in the number of currency units.
Price changes are a symptom of Inflation or Deflation, they are not the cause.
Bitcoin has no Inflation or Deflation. There will only ever be 21 million Bitcoins. It is Hard Money.
John Sam Rayburn
Active Member
Incorrect.
Six years from now when I purchase my next jug of Amdro it will require 25% more U.S. Dollars to buy, 32 of them at least.
This is what I thought.
John Sam Rayburn
Active Member
About $3.50 cheaper at Lowe’s. And that’s an everyday price, not on sale.…
Ignorant people see this photo and think Amdro went up 25% in 6 years. It did not.
Inflation at the point of sale can be a result of many different factors, not just money supply.
well compared to fiats it is ;-) but yes you're right.
So you're saying... when you go to the checkout, you'll be charged a cheaper price because you're paying with bitcoin and bitcoin is worth more. Right.
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Don't have any bitcoin.
John Sam Rayburn
Active Member
No. I'm saying six years from now the price for a jug of Amdro in U.S. Dollars will be at least 32, and probably way more.
Nobody knows how many Bitcoin will equal 32 dollars six years from now.
Ten years ago 32 Dollars equaled about 1 Bitcoin. Today 32 Dollars equals 0.00119633 of a Bitcoin.
Do you understand that greatly increasing the supply of a thing causes the value of that thing to decrease ?
Yeppers, I sure do understand that. AND, Bitcoin was a good investment then and may still be now, for sure. If it is, then it would be a hedge against inflation because your overall net worth would be increased...and the more Dollars that are dumped into the supply the more the bitcoin value goes up. I've personal experience, with a different medium.
Years ago, when I lived near, and on both sides of, the Canadian border the currency exchange rate would fluctuate quite a bit, and often. For a long time $1.00USD = $1.40CAD; but the (retailer set) prices of goods in Canada wasn't nearly 40% more. There was a lot of cross-border shopping - by Canucks going to the US for cheaper items, and Yanks going north to take advantage of the exchange rate. There was a fair bit of money trading as well (heh heh) when the rates changed in one favor or the other.
Maybe something like that exists down here? How many Pesos to the Dollar? Anyway -
However many Bitcoin to the Dollar will be the amount, the Retailer will take enough of them to cover the Dollar price for the item. Your advantage, because there are so few of them, is their value will stay high and you'll be able to buy a lot more items (when retail accepts bitcoin) or get a boatload of dollars when you need to convert.
The part of the current bitcoin picture I haven't sussed yet - is buying bitcoin today, with today's dollars, is it still a good investment? Logic says yes, as the dollar supply increases it would be.. but when/if the dollar becomes next to worthless, and no more bitcoin is being mined, will it still be accepted/converted into values re Yuan. You know what I mean. And then there's CBDC, FedCoin, and it's management/control... so many unknowns.
Ahhh... it may all work out. Or not, lol. Interesting stuff!
Side note... Some stores along the US/Canadian border DID have two prices on their items, one in USD, one in CAD... but most conversion rates were calced at the register - because of the rapid fluctuations, so my sentence that you quoted above was actually the case, in that case.
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Central banks and politicians would like for that to be the case, but they can't get rid of it in a practical way. I wouldn't be surprised if a smear campaign saying only terrorists and pedos use cryptocurrencies popped up, tho.
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