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that's shame, with $20,000 to catch a hacker, E$10,000 for a painting, and a 10,000 BTC pizza, you would think charity would fair slightly better.
the 10k btc pizza wasnt realy worth anything at the time.
solarcoin.org is holding $600m in §value for producers of solar electricity. Submit proof of solar electricity going back to 2010 to get your §'s. People from 11 countries already have.
It's really easy to a do a bit of good -- it's stories like these that inspired us to expand the crypto-currency economies, bringing more people into mining all while helping to support pro-social causes. What could be easier than running a screen-saver while staying connected to your favorite charitable causes -- all while making coins donated directly to them?
I have always been disappointed that the free software foundation and wikileaks are 'charities' there is something just wrong about that. A little kid needs $100 k to save her life, and Wikileaks gets 3800 BTC and FSF gets 900, and Stallman and Linus are multimillionaires.
Why would charities want donations in BTC when they can get the government to print as much Fiat as they want for the GOOD causes.?
you really should stop saying that ! You do realise that actually DOES NOT happen, it just makes you look silly to say that. It shows that BTC users are not that sophisticated or knowledgeable in economics.
The amount of money (currency) Notes and coins in an economy is a tiny fraction of the money in the economy, (probably about 3 to 5% at most), the rest is in assets or in digital form.
The amount of currency (notes and coins) varies slightly, and old money is replaced by new on a 1 to 1 basis.
They do not, and NEVER have printed 'as much fait as they want'.
If they did, why would there be a deficit then ?
Why would they owe China trillions of dollars if they could just print a heap of $100 dollar bills, load it on a ship and send it to China. Does not work that way. I guess you don't want BTC users to look like noobies right ?
You're correct in many things but there's a keypoint where you understanding doesn't seem very good, I'll explain...
DISCLAIMER: What you're about to read may influence whatever false sense of justice you rely upon to embellish the world around you, if you cannot afford to lose it, please do not read the rest of this message. If do proceed and happen to reach the end, before deciding to flame my comment somehow, please verify the information provided using some convenient google searches or whatever method you deem fit. Thank you.
"They do not, and NEVER have printed 'as much fait as they want'.
If they did, why would there be a deficit then ?"
Because it's debt-based money, you always have to pile up more debt than the money you "print", which means that to eliminate debt temporarily you have to pile up more of it in the future, that's why they can "print" as much as they want but still never be debt-free.
This obviously means that in the future you have to "print" even more to liquidate your debt which will, obviously, create an even bigger debt in the future and it repeats ad infinitum, if you didn't understood it already this produces a snowball type effect in which the debt rises at an exponential rate and so does "money printing".
This reckless "printing" debases the currencies and make people lose purchasing power, the US are the "worst offenders" in "over-printing", however they have a clever way of slowing down the debasement.
The dollar is enforced internationally for lots of deals, especially oil-related deals, that's why you've probably heard of the term "petrodollar status", what this means is that countries have to negociate in dollars otherwise they get invaded or some turmoil or government overthrow magically* happens and people get killed and so on...
Also the Dollar has the status of "world reserve currency" and also many countries turn to Dollars to make deals.
What this means is that there are lots of Dollars outside of the US, so the US can "print" a lot in relation to it's population and still debase the currency only a smaller amount than it would otherwise, in other words, they're shipping out their inflation and thus removing other countries of their purchasing power.
disambiguation: "print" in this case means, whatever type of currency creation you can imagine but when people refer to printing like the guy who you're responding to, they usually mean the same thing other than physically putting ink into a blank note and calling it "Dollar".
* magically as in, orchestrated by the US government
Final notes: This is by no means a comprehensive explanation and doesn't aim to be 100% accurate as some of the things mentioned can be "a degree more" or "a degree less" than what was mentioned, however it's fairly accurate in quick and easy terms and it should provide enough information to get you or anyone started in the journey of comprehending the mess we're in.
P.S. In this scheme I forgot to mention fractional reserve banking which was a pretty important thing but google it up too if you don't know it already.
Also,
"The Creature From Jekyll Island" (Video And Blog) Explains Why The U.S. Financial System is Corrupt & How It Got That Way
Also,
The Creature From Jekyll Island (Video And Blog) Explains Why The U.S. Financial System is Corrupt & How It Got That Way:
You did a fantastic job of explaining an otherwise complex subject. I wish more people hurry-up and learn what the US government is doing so that we can finally get on our way as a nation to the benefits of Bitcoin.
Thank you, I'll check the video you mentioned when I can.
You're welcome.
"They do not, and NEVER have printed 'as much fait as they want'.
If they did, why would there be a deficit then ?" They do "print" as much as they want its called quantitative easing, and borrowing is another way of printing more money cause its not like we use the yuan when we borrow from the chinese..
worldcoin !
Connie hit the nail on the head speculating that the bitcoin economy is still too small to do much better yet. I'd be happy to bet that the ratio of bitcoins in existence/bitcoin donations is far larger than the dollars in existence/dollar donations are.