Bitcoin is obviously gonna dip because it's the weekend and bitcoin ALWAYS dips in the weekend

within one year one of these is going to have a bigger market cap than ETH, I'm 100% sure.

>fiat had more support than maintaining a gold standard and that doesn't mean fiat is better

t. lolbertarian

Fiat it's so bad that we've had more than 70 years of uninterrupted economic growth all around the world. Having some meme metal as standard is surely much much better...

I usually forget that most people here have never ever taken a serious economics class.

>uninterrupted growth
Want to know how I know you weren't investing in 2008?

Explain to me the benefits of an inflationary currency.
I know the old "people won't spend it if it retains or gains value" but I think we all know that's a load of shit and was never an issue when currency was made of silver or gold.

Also dot com bubble happened and the shit decade of the 1970s fit into your utterly false college freshman level comment

Want to know how I know you weren't investing in asia after 2008?

Deflation is worse you retard, ever heard about the 1929 crash? Have you ever heard about long term business goals? Tell me how would that work looking at the picture..

>dot com bubble
>a serious bubble

pick one

>talking about the 70's and don't even know about the nixon shock

...

fiat currency always blow up

only a matter of time not even debatable really

only thing keeping western currencies afloat is US military

>ever heard about the 1929 crash
You mean when heaps of new startups got huge funding but couldn't compete and it was basically the modern age version of the dotcom bubble? Yeah I have heard of that.

Explain how deflation is worse, if it's so simple I must be retarded then it could surely be summed up in a paragraph.

>implying weekend is over
idiot, now we're fucked thanks to you

it did dip, summerfag

Deflation kills consumption. Deflation makes planning in the long term way riskier. Deflation encourages protectionism. Deflation makes recessions much worse. Deflation increases unemployment. Deflation encourages hoarding.

Want me to keep going?

You just said "people wont spend it" in 5 different ways. I think I shot that argument down preemptively here As for planning how does it effect anything? If something is profitable it's going to happen if it's not then it wont, I don't see how that is different to now.

I have never seen an for inflation that doesn't ignore the centuries when coins were made of silver and people still spent them.

Predictions on how low it will dip? Also, will there be an extreme dip like a few days ago before the 1st or is it over?

if you look back the last 6 months, you'll notice that the biggest pumps actually happened in the weekends

fucking newfags thinking they know everything about crypto after being here for a month

go back to your TA's and meme charts, and short your coins, you dont deserve to hold crypto anywho

>You just said "people wont spend it" in 5 different ways

he said short run phillips curve which is not that argument

thanks, i just cashed out 100k

You're actually asking these questions? You realise even professional TAs don't have that kind of crystal ball right?

this

ETH is the second biggest crypto, and it was that before bitcoin had these problems

litecoin on the other hand, is overvalued as all hell, it should never be a double digit value, and the only thing it has to its name is segwit

once bitcoin has segwit, litecoin will go down to its true value of 5$ or less

First of all no you didn't understand shit. Second in what world did you "shot that argument down" when you didn't even gave a tiny argument to support your bullshit.

Libertarians are so retarded...

Thanks for giving me something to read but everything I found indicates that it has been proven to be a load of shit and there is no statistical relationship between inflation and unemployment.

Make an argument for inflation, tell me what it does. I think the industrial revolution is pretty solid proof that deflationary currency can get things done.

I'm just asking for opinions that's all. I'm curious, not actually expecting to get the exact timing of the market

>I think the industrial revolution is pretty solid proof that deflationary currency can get things done.

Ok then, lets open up a factory and fill it with child workers, who needs consumers we only need cheap labor and gold!

In the Short run (The idea that there is a trade-off between the rates of inflation and unemployment (or related
measures of real economic activity), at least in the short run, is widely accepted in the economics
profession and guides monetary policy making by major central banks

scholar.harvard.edu/files/stock/files/empirical_evidence_on_inflation_1.pdf

This is by far the most important mechanism through which inflation acts on the economy. We can argue about its effects on savings, investments, consumption etc. But it has large and noticeable effects on employment

You are right, clearly all those factories were producing goods just to horde them until fiat came along and finally gave them customers.

When you were is class being taught this shit did you never question it for a second? Did the professor never get asked "why is inflation good" in the time you where there?

No we just had a GDP of 1/100th percent of what we have today you retard

>scholar.harvard.edu/files/stock/files/empirical_evidence_on_inflation_1.pdf
That conclusion on pages 35 / 36 don't make it sound like there is a strong link.

>make thread about pretentious newfags
>horde of eth cucks invade blarbing about how great of an investment eth was/is/and forever will be

>some retard pretending the incredible progress of the last century is not an achievement of science and engineering but rather kekonomics

>also this fucking guy

This is exactly the kind of bullshit I was talking about. I'm out for the day, don't want to develop cancer.

>inflate currency
>GDP measured in that currency increases
It's like magic.

You got me there, it's not like billions of asians are buying cars, electronics, houses, paying for education and healthcare, travelling abroad, etc. It's just that we inflated the currency, how was I so gullible!

2600 is the first support level, 2350 is the absolute floor IMO unless some very bad news comes through regarding segwit or new attempts at government legislation

BTC will drop to sub 1000. Screencap this.

actually IN THE LONG RUN weekends have been pretty good for BTC.

its only been the last month or so that weekends have been bad.

maybe if this is your first month here you lurk awhile instead of being retarded for everyone to see.

"Le dead cat bounce. M'beartrap." - W. Buffet

no, this is bankers created meme that deflation is bad, no, deflation is good for people, bad for bankers

Its pure bullshit, that deflation, you dont buy thing, because future they maybe cheaper, no, people buy things when they need things.

Deflation, houses, cars etc. becoming cheaper with time, that it good thing.

Or do you want to be debt slave your whole life that you can buy house, that is inflantory currency like US dollar and rest FIAT-currencyes.

FED has promised to get US dollar less purchasing power each year, their target is US dollar lost purhasing power 2 % every year, so if you hold US dollar or other FIAT-currencyes, you lost 2 % of your wealt every year.

If your own Bitcoin, your wealth growe every year, because Bitcoin is deflatory currency.