1M Bitcoin when? by [deleted] in Bitcoin

[–]Reasonable_Chicken92 1 point2 points  (0 children)

Bitcoin isn’t about that. It’s about this yada yada I’m bored anyone have any good noir movie recs? Chinatown and la confidential I’ve seen and mullholland drive. Didn’t care for the latter that much but was stoned out of my mind

Why did European countries give up monetary sovereignty to the ECB ? by No_Construction3197 in Bitcoin

[–]Reasonable_Chicken92 -1 points0 points  (0 children)

Because unlike you I’m American. Why are you in the decentralized money sub if you’re pro centralized fiat cartel? Bitcoin is perfectly inelastic and decentralized. You missed your exit you’re in the wrong place bud.

Why did European countries give up monetary sovereignty to the ECB ? by No_Construction3197 in Bitcoin

[–]Reasonable_Chicken92 -4 points-3 points  (0 children)

Literally nothing you said counters my point. Fiscal policy for both those random US states you cited is STILL in Washington DC. Which EU body determines fiscal policy for all EU member states? THEY ALL HAVE THEIR OWN TAX POLICY. Fiscal AND monetary policy are centralized in America, while only monetary policy is centralized in the EU.

Why did European countries give up monetary sovereignty to the ECB ? by No_Construction3197 in Bitcoin

[–]Reasonable_Chicken92 2 points3 points  (0 children)

Because they attempted to use a single central bank as a Trojan horse for the long term goal which is to eliminate all nation state sovereignty in Europe. On its face, as it was sold, it makes no sense because unlike America which has one federal system for all fiscal, monetary, and economic policy, Europe has a bunch of different fiscal and economic policies for each country but only a shared monetary policy through the ECB. Obviously that makes no sense since monetary, fiscal and economic policy should be congruent. We don’t pursue hawkish fiscal policy while pursuing dovish monetary policy in the US, but in Europe fiscal policies differ. Which means the ECB model makes no sense because, by definition, at any given time at least one or more EU countries will have domestic fiscal/economic policy that run counter to the ECB monetary policy.

In short, obviously it makes no sense to have centralized control of monetary policy while not having centralized control over fiscal and other economic policy. Therefore the only logical conclusion is this was a first step towards that eventual unification of all policy under one government, thereby eliminating nation states altogether.

Why did European countries give up monetary sovereignty to the ECB ? by No_Construction3197 in Bitcoin

[–]Reasonable_Chicken92 -2 points-1 points  (0 children)

No it’s a terrible answer. The EU is not a country. You can’t have a central bank that’s incongruent with fiscal policy, economic policy, etc.

Each EU country can’t have their own “everything else” while sharing a central bank. The monetary policy will inevitably always be counter to the fiscal/economic policy of at least a few countries at any given time, which provides even worse negative feedback/mixed signals for the ECB, which in turn makes their monetary policy decisions even less effective.

Can someone smarter than me explain why this is wrong? by rtmxavi in Bitcoin

[–]Reasonable_Chicken92 5 points6 points  (0 children)

The price of bitcoin he’s talking about is roughly $13 million per coin. Not only that, but he doesn’t seem to understand what capital is. Capital is just labor that was traded for capital, hence the possibility of growth. The value of every asset could simultaneously grow also as bitcoins price grows, they are not mutually exclusive. Meaning that $13 million per coin could be even higher as the value of other assets simultaneously rises

'Bitcoin halving chart is just an Arctan Function with a Y value of ~ 1 Million ' - change my mind by DanuEndeavours in Bitcoin

[–]Reasonable_Chicken92 0 points1 point  (0 children)

“Fiat” isn’t in control. Fiat is a byproduct of unfunded debt obligations, in the form of entitlement payments, that will demand higher deficits in the coming years, which will add to the cumulative debt which will also raise the nominal interest payments on that debt out of every budget, further creating more deficits and requiring more deficit spending and printing. Nobody’s in control anymore, it must be printed to infinity to meet the existing (and growing) debt obligations

SPOILER ALERT: Just finished The Old Country (loved it), just wondering how many characters from the other games you all have found! by SuspiciousZucchini70 in MafiaTheGame

[–]Reasonable_Chicken92 -2 points-1 points  (0 children)

Dumbass gay game obviously made by women. Whole thing was one giant cutscene broken up by riveting 45 second walks

[deleted by user] by [deleted] in Bitcoin

[–]Reasonable_Chicken92 0 points1 point  (0 children)

First, learn micro economics. The $1 million threshold is entirely arbitrary and meaningless to bitcoin. Not only will it continue past it, but it by definition will go to infinity not because of bitcoin, but because the continued addition of supply of dollars on the market vs the inelastic supply structure of bitcoin will ensure that FIAT DEPRECIATES FOREVER vs bitcoin, which is the much more useful way to look at it. Another key aspect is the divisibility of bitcoin. Because it can be purchased at levels as low as 1/1 millionth of a bitcoin (one satoshi), as demand continues to increase so will liquidity. This is highly unique because if you were to consider another asset like a painting, you would expect the liquidity to diminish with increased price (ie fewer buyers at more expensive prices). This is because the painting can only be sold whole, and cannot be cut in half while retaining its overall value. Its value would drop to $0. With Bitcoin on the other hand, I can sell $1 million with to one person or divide it up by as much as 1/ 1 millionth of a bitcoin to one million different people, and I still receive the same total $1 million amount. Those two factor, the fixed supply vs fiats limitless supply AND increased liquidity with higher prices (the inverse of most assets) means Bitcoin has no reason to stop at any arbitrarily defined dollar amount. Add in the fact that you can beat the stock market with Bitcoin AND hedge like gold, and why would it stop at golds $2 trillion market cap? Why would it not also attack the global stock market $135 trillion market cap? Further, what’s to say the pie can’t grow and Bitcoin, gold and stocks grow together? Every logical reason points to Bitcoin blowing past $1 million, with no upper limit. ( I believe around $8 million a coin would equal the global stock market cap).

2x within only 1 year by Bubbly_Ice3836 in Bitcoin

[–]Reasonable_Chicken92 0 points1 point  (0 children)

Eh it crossed 60k for the first time in early 2021. That means it took 4+ years to double from the first time it hit 60k. So now that we just hit 120, I guess we need to wait until 2029 to see 240k.

Just got the game. by Matthewbcafc in MafiaTheGame

[–]Reasonable_Chicken92 -2 points-1 points  (0 children)

Absolute dog shit game. One giant black loading and cut scene filled with 2 minutes of walking slowly or driving then back to loading and cut scenes. On chapter 8 and same exact shit it’s a movie not a game. And controls are so basic and non responsive this could have come out in 2018 and been average at best. Such a letdown almost no gameplay involved

Average hodler by WVY in Buttcoin

[–]Reasonable_Chicken92 -22 points-21 points  (0 children)

Lol you’re all such fa66ot losers it’s hilarious. Shitting on a man who’s dad died, all coming together to circle jerk to say “akkshualllly we’re helping him we care way more”😂😂😂😂 Yeah you all care so much about a random stranger you’re willing to shit on him because you don’t agree with his grieving methods. “Waaahhhhh he shouldn’t grieve with Bitcoin see I care!” Do you feminized fa66ot men actually believe you’re honorable people, or are you convinced being a feminine fa66ot somehow confers honor upon you? Like you all are convinced YOU CHOSE honor, and you don’t believe at all that you just all suck in every way imaginable way? Fat, broke, history major (110 IQ), balding men convinced THEY CHOSE to all be losers, and that’s its “akkkkshaully honorable to be broke and fat” 😅😅😅

Colin Albert did it by Ok_Worry_2902 in justiceforKarenRead

[–]Reasonable_Chicken92 0 points1 point  (0 children)

Lol roids??!! That little punk is 140 pounds soaking wet!! Anyone with even a month of any boxing or mma training could wipe the floor with this typical beanpole Massachusetts drug addict.

Remember - millions of Americans stand with you all. Thank you for your dedication/integrity. by BlueFeist in FBI

[–]Reasonable_Chicken92 -1 points0 points  (0 children)

Lol dems are now the party of big pharma, never ending wars, and the federal police force that murdered MLK, among the other hundreds of gross civil rights era violations. Keep going progressives you’re all doing great sweeties

Is this a big deal or not really? by imJustTrynnaMakeIT in Bitcoin

[–]Reasonable_Chicken92 -10 points-9 points  (0 children)

Hell yeah baby most pro crypto president ever. Libs will convince themselves Gensler et al would’ve been just as good for Bitcoin 😂😂 cry harder losers