

Bitcoin ‘Is a Better Form of Money Than We Have Right Now,’ Pro Trader Says - khakimov
http://www.betabeat.com/2012/04/02/bitcoin-is-a-better-form-of-money-than-we-have-right-now-pro-financial-trader-says/

======
MrMan
Pro Trader likes to trade bitcoins because he knows how to trade illiquid
markets. The civilians who are affectionate towards bitcoin are easy pickings
for Pro Trader and his friends. Pro Traders say a lot of things that are not
true about the capitalist system despite the fact that they personally benefit
from the way the system is currently structured. Pro Trader would not be happy
to work at a bank in the 1840's, in a world where banks indeed printed
currency, and failed constantly, and where credit was very hard to come by.
The modern system makes Pro Trader rich, but Pro Traders like to complain
about it because they are "libertarians."

------
bradleyland
In other news: Fishermen love lakes stocked to the brim with fish.

------
maeon3
Will bitcoins suffer from a 4 to 8 percent annual inflation due to central
banks creating more bitcoins out of thin air? Will inflation be locked at
zero?

I don't think the sovreign is interested in losing their little racket of
skimming 4 percent off of global transactions through money printing. I truly
hope bitcoins succeed, but they will have to slay some big omnipowerful
opponents eventually. My choices are to have my money stolen from me in a BOFA
bank acct, or preserved in bitcoin. Hmm tough choice.

~~~
gph1
The central bank does not have direct control over the money supply. In any
case even, money supply growth is not synonymous with inflation. Only when it
is outpacing the productive capacity of the economy to absorb it can increases
in the money stock produce inflation. Given the slack in the economy right
now, demand driven inflation is near the bottom on our list of worries. Take
off the tin foil hat.

~~~
maeon3
I agree that inflation is not a problem, I just want a currency where I can
place claims on future human labor in, and in 15 or 30 years get the exact
same number of claims on future human labor back out. Today and for the last
97 years since we have been off the gold standard, the us dollar is unable to
accomodate my wish. If I put in 100 dollars now, in 30 years I will not be
able to buy a single pencil with it, even if I put it in an account that
accrues interest, after 30 years I would be able to buy two pencils.

Just like how in 1995 gas was 80 cents, now it is four dollars. Inflation at 3
percent per yeiar is a joke, in gas and heating oil it is 10% per year. My
only wish is to keep the wealth I earn. Ultimately money is just a contract
between two humans, one human can always steal the wealth of the other by
fiddling with the numbers.

