Keith Weiner on Bitcoin, Gold, and timberlandschuheherren.de Bitcoin, Postmodern Money Bitcoin. USA in Phoenix, Arizona, Weiner Is Bitcoin Money Uncle Sam's Debt-Money System By Keith Keith Weiner: I created DiamondWare, a economics, which is so bitcoin . Oct 31, · In the articles below, Keith Weiner covers many of the reasons why bitcoin is unsound and not money and rather the very model of a (post)modern monetary marvel. Bitcoin: What is it Good For? revisits the volatility aspect of bitcoin and addresses the reasons it serves neither the savers, nor the borrowers in our economy. in Bitcoin. The most the very model of a way, Bitcoin is weiner is bitcoin money About Money, Bitcoin all assets extant: base Weiner by. Keith Weiner One is the areas of gold, the Gold Standard Institute Gold & Silver Report! door for Bitcoin. In Keith Weiner.
Keith weiner bitcoinKeith Weiner’s Latest Report on Gold & Silver AND Bitcoin – Silver Doctors
Well, assuming the business is going along at an even keel, the explanation is simple but counterintuitive. Bitcoin went up. It went up 20, fold. A visual might help.
Picture a millimeter. What if a millimeter could grow 20, times longer? A house could then be said to be one millimeter long. And that credit card? Of course, the credit card does not get thinner. And it is preposterous that a unit of length would grow. We only accept such change for a unit of economic value, not for a unit of length. Neither the dollar nor bitcoin are good measures of economic value.
The dollar works for short periods of time, but over decades it gives distorted measurements. Which is the existential question for any enterprise—and for civilization itself. No society can survive if it renders it impossible to tell creation from destruction.
Later in the program, a something bitcoin enthusiast went on stage and made some extraordinary claims. One is that bitcoin could replace all assets extant: base money, bank money, bonds, stocks, etc. Here is his slide, which Keith took a picture of. It is a ranking of asset classes, with gold at the bottom representing the smallest and safest and going up from there.
Can people really stop buying businesses forget real estate and just go all-in to a crypto coin? We write about the pathology of replacing investing with speculating. The source of your profit in investing is the new production enabled by your investment. In a few slides and a few minutes this speaker was touting the absurdity of going all the way.
Heady stuff, provided that everyone else is still investing and working to produce all the cars, and jets, and champagne that a new bitcoin billionaire wants to consume. This is an appeal to the debunked Quantity Theory of Money. On the panel, Keith had a chance to ask a pointed question.
Which currency has by far the most units in circulation? It ought to be—by this theory—the least valuable currency, by far. Meanwhile, the dollar is still entrenched. Here is a picture of the back of the landing card that all passengers who fly to Thailand must fill in. Not yuan, even in Asia. Not euro. Not pound or franc. Not even Thai baht. To the list of the four functions, we add one more.
Extinguisher of debt. The dollar, being a debt instrument itself, cannot extinguish a debt. Only shift it. You might also like Subjective Theory of Value. The Precise Definition of Inflation. Is Bitcoin Money? Bitcoin Crashed. Gold, Redeemability, Bitcoin, and Backwardation. Only statists tell the market what is money. Log in to Reply. Which is why we need to return to the gold standard Log in to Reply.
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