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Rank #3723 on CommentsLevel 218 Comments: Comedic Genius
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|#6 - Comment deleted||02/02/2014 on Poland stronk||0|
|#14 - yeah those aren't going to crash hard or anything whi… [+] (4 new replies)||02/02/2014 on give a man a gun||+1|
#30 - madcoww (02/02/2014) [-]
I understand your allusion to the Dutch tulips in terms of speculation. I agree, speculation can turn sour. However, tulip bulbs are poor currency. The promise of bitcoin that makes it so valuable is that allegedly no more will be produced. Thus, we will have a durable and rare form of currency if it can reach general acceptance, which it may not. The important idea to combat is inflation, which is a vicious tax by the government that must be stopped for the sake of economic success.
#50 - kingpongthedon (02/02/2014) [-]
Inflation occurs naturally, it has very little to do with government intervention. In fact, government intervention slows the rate of inflation significantly. Here's a brief overview of how it works:
Farmer A needs to make more money to sustain his farm so he charges Baker B more for wheat flour than he did last year. In turn, Baker B must increase the prices he charges Consumer C for a muffin. Consumer C demands higher wages from Employer D to continue buying those life-sustaining muffins. Employer D begins charging more for the tractors he produces to pay for Consumer C's increased wages. Farmer A needs to make more money to sustain his farm...
On the other hand, Farmer A needs to make more money to sustain his farm. Government G recognizes that Farmer A provides an invaluable product and subsidize his farm using taxes collected from the people that was already in existence. Government G has had the power to create money stripped from them to prevent hyperinflation. This power is exclusively held by Federal Reserve F, an independent entity. Federal Reserve F creates (and destroys) money to account for increasing populations, changes in effective power of currency, technological advancements, and other factors to maintain a reasonable rate of inevitable inflation.
A good currency cannot be tied to it's physical value as these are prone to wild fluctuations, no matter how constant the supply is. It's value needs to be determined entirely by it's purchasing power. This essential requirement eliminates all tangible goods. Bitcoins are no different than any other fiat currency. In fact, they are currently subject to much more erratic fluctuations than any other recognized currency, with the exception of Zimbabwe's.
TLDR: Inflation is inevitable and a stable currency needs independent oversight, something Bitcoin and tangible goods absolutely do not have. Euros and American Dollars are by far the most stable effective currencies at the time.
#98 - madcoww (02/02/2014) [-]
If people truly want wheat, they will spend more of their paycheck for it and therefore spend less on other things. These other things will need to either charge less or go out of business. These are the natural and good workings of a free market. Thus, the commodity wheat has increased in value just as much as everything else has decreased in value. This is not inflation. Inflation is a general rising of prices, which is ONLY possible through a surplus of money, which can ONLY be caused by the issuance of more money.
#114 - kingpongthedon (02/02/2014) [-]
Inflation is the decrease of the purchasing power of money. I assure you, it's not flawed. It's the basis of Modern Economics. What you said is absolutely true in a Classical Economics sense, however it's been heavily modified. It's still the basis of economic policy, much in the same way Newtonian mechanics dictates the events of our day-to-day life, but when it comes to large markets it falls apart.
Furthermore, supply and demand isn't nearly as effective at regulating prices for necessary goods, like staple foods or medical care, as people will buy them regardless of the cost. It also doesn't work well with massive projects, things like building infrastructure and again, farming. Few people have the capital necessary, so an oligopoly is inevitable without government assistance. Think about how few phone and car companies there are. It also doesn't work well with low/no-income purchasers. They don't buy things they want, only what they need. Chances are the business is dependent on their labor, workers have become increasingly specialized since Paine, this has given laborers more leverage to ask for increased wages. Plus, all good businesses accept this as a fact of life and realize that if they don't fall in line with economic trends then they will be out of business in a short time. As long as they have a new product that can keep up with the trends, they'll be just fine. This is the premise of the price/wage spiral.
There's also supply shock inflation. Classical Economics typically assumes there's a near unlimited supply of resources and as long as somebody is willing, they can get it. This is simply not true. Prime examples are arable land and oil deposits. Prices have to rise to account for this. Since they are so widely used in our society, the increase in their costs will cause a ripple effect through almost all goods.
There's a ton of other natural causes of inflation, but these are by far the most powerful.
|#102 - Picture||02/01/2014 on Big Bang||0|
|#45 - ( citation needed )||01/30/2014 on The sun lines up like this...||0|
|#192 - Except for Flu Shots, Chem Trails, and "False Flag Operat… [+] (1 new reply)||01/30/2014 on Damn GOP||0|
#215 - doctorprofessornv (01/30/2014) [-]
I only noticed those points after looking at it several times. Really I was just trying to point out that political cartoons, while funny and sometimes thought provoking, are little more than propaganda and can be used by anyone to push a particular view. Granted I agree with most of the statements made in this one (except the invalid ones you pointed out), but that's beside the point.
|#188 - nope, no bias here||01/30/2014 on Damn GOP||+5|
|#26 - Picture||01/30/2014 on How can titles be real...||+1|
|#34 - we all know China and vietnam are reliable sources of informat…||01/30/2014 on just interesting to me||+2|
|#33 - somehow I doubt that the statistics from china or Vietnam are reliable||01/30/2014 on just interesting to me||+2|
|#679 - you shouldn't be prideful over something you had no part or sa…||01/29/2014 on I'm sorry, did I rape you...||0|
|#63 - The problem with that is, being a demon, he will do literally …||01/28/2014 on would you conjuer?||0|
|#76 - toobadthatneverhappened.jpg||01/26/2014 on For mother russia||+9|
|#33 - I have never seen a map like that every map of the wo…||01/26/2014 on Maps around the world||0|
|#66 - Picture [+] (1 new reply)||01/26/2014 on why cant we be friends?||0|
|#18 - Don't worry, 14 year olds will think they know what they're ta…||01/23/2014 on America||+1|
|#80 - ...When did I bring up call of duty? [+] (1 new reply)||01/23/2014 on Wii U||0|
|#46 - Halo and Uncharted are a completely different thing. There wer…||01/23/2014 on Wii U||-1|
|#38 - What games? The 10 millionth mario and zelda game? pikmin 3 (w… [+] (3 new replies)||01/23/2014 on Wii U||-2|
|#37 - It's turning out to be one of the worst. Also they're probably… [+] (1 new reply)||01/23/2014 on Wii U||-3|
#67 - mayedh (01/23/2014) [-]
"If you do the same thing as others, it will wear you out," Iwata said, as reported and translated by The Bridge. "Nintendo is not good at competing, so we always have to challenge [the status quo] by making something new, rather than competing in an existing market." ** - Satoru Iwata (President and CEO of Nintendo Co.)
Nintendo is all about taking risk; it is how they succeed. They are one of the only companies today that do no fear risk and failure. Nintendo regularly dips into their old ip's and bring something back, but they have far too many to do that with all of them. They are bound to bring out some old ip's out this generation too.
|#36 - I'm surprised at how much shovelware and puzzle game remakes t…||01/23/2014 on Wii U||+1|
|#35 - Comment deleted||01/23/2014 on Wii U||0|
|#33 - discoursing mario and zelda games, how many good games does it have? [+] (5 new replies)||01/23/2014 on Wii U||-5|
#46 - UnoSkullmanx (01/23/2014) [-]
Halo and Uncharted are a completely different thing. There were tons of big name titles beyond Halo for the Xbox consoles, and Uncharted for PlayStation. Xbox hasn't been remaking Halo 1 for the past 20 years either, while Nintendo has. You're comparing apples to potatoes.
#36 - UnoSkullmanx (01/23/2014) [-]
I'm surprised at how much shovelware and puzzle game remakes there are. I was joking before but it actually looks like Wii U doesn't have that many big titles. There's a lot of exercise games that nobody cares about and lego games and a LOT of remakes and ports. The only games that look good to me are the big-name IPs, but there's not even that many of them.
Nintendo does need to step it up, this is just sad. They need to get over their hate for 3rd party developers.
|#22 - Picture||01/23/2014 on (untitled)||+13|
|#52 - No, the colossal squid and giant squid aren't the same thing||01/23/2014 on nope nope nope||0|
|#145 - Probably closer to Chinese Democracy. Again the game will be b… [+] (2 new replies)||01/20/2014 on praise the lord||+1|