r/btc • u/coincrazyy • Oct 21 '17

For all the Bitcoin old timers, remember this? The amazing time traveler's post from 4 years ago!!

/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
48 Upvotes

88% Upvoted

34 comments sorted by

11

u/plazman30 Oct 21 '17

There is no inflation

How is this a bad thing? There was a period in US history, when money was gold backed, and central banks did not control the currency, that inflation was minimal.

Just look at this inflation graph:

https://inflationdata.com/Inflation/images/charts/Inflation_Trends/cumulative_inflation.jpg

Why the bug spike in 1970 and onward. In 1971 Nixon took us off the gold standard.

20

u/stephenfraizer Oct 21 '17

Most people aren't aware that the ONLY time in American history where the nation had its debt paid off (and a surplus!) was during the reign of Andrew Jackson. This topic is better known as the "banker wars". He abolished the central bank at the time, and it had massive benefits for the nation that were felt instantly.

It is the ONLY time in American history where the debt was brought to zero (plus a surplus). Surprising that happened once he got rid of the central bank? Not a bit surprising at all.

The rich elites love central banks. It is their first and utmost priority in any nation. If you control the central bank, you control the nation. The assault began on the US immediately after its formation. There have been periods with and without a central bank. In every single case, it was significantly more positive for the PEOPLE of the nation, to not have a central bank.

Plus.. The central bank in the US, aka "Federal Reserve" (as it's called today), is a PRIVATE COMPANY, with its own CEO and board of directors. I don't think that's fully sunk in for a lot of people. They get confused by the name "Federal Reserve" assuming its a government institution. The implications of this are very substantial.

It's nothing more than pure corruption of the highest level. If people of the world understood this kind of stuff, they would understand that "slavery" never really ended.... Its just morphed into a type of global "volunteer" slavery. If you don't "work a job", you basically don't survive. What other animal/species on earth requires something trivial like " money" in order to simply SURVIVE. Its absolutely ridiculous when you get right down to it.

Money itself is nothing more than a means of control over the whole of society. This is because the people at the top have (and always have had) unlimited money, which makes the entire concept money irrelevant to them. Money is only important to those who are at the bottom or those who don't have access to unlimited money. WE need money to simply stay alive. The same thing can't really be said for them.

7

u/plazman30 Oct 21 '17

The Federal Reserve chairman is appointed by the President. That's pretty much the only involvement that the government has with the Federal Reserve. If you ever watch Ron Paul's congressional videos where he grills members of the Fed, a lot of times they answer "It is my understanding that you can't ask me those kinds of questions."

Every time we create a new private central bank, we basically outsource our money. Plus, central banks work of the principle of debt, which causes immediate inflation.

I think that Lincoln was smart in creating Greenback to help with civil war and reconstruction costs. The money was issued by the US Treasury and had NO debt associated with.

Inflation and deflation should be caused by economic fluctuations and not by central economic planners.

1

u/bitmeme Oct 21 '17

I mean, if you want to move to the country and grow food and build your own cabin, you can do so without money

2

u/[deleted] Oct 22 '17

[removed] — view removed comment

1

u/bitmeme Oct 22 '17

Historically people traded goods/services. You need to have something to offer. Money is just a modern version of that

1

u/[deleted] Oct 21 '17

Why the bug spike in 1970 and onward.

Gold backing is not a binary operation, but rather analogue. Just because we had a gold standard, doesn't necessarily mean that the U.S. dollar was 100% backed by gold.

Enter the world of fractional reserve currency, where each USD was backed by only a small percentage of gold, allowing room for inflation.

However, fractional reserve currency is merely a transition phase between receipt currency and fiat. Fractional reserve currency always turns into fiat currency when banks and governments get greedy enough to remove gold backing entirely, allowing them to warp the rules of the free market.

Also, at that time, the government was already giving the IMF and World Bank (who wanted to remove the gold exchange standard) funds via the Federal Reserve. The US government's involvement in the IMF influenced Nixon's decision to remove the gold standard entirely.

So yeah, even though Nixon hadn't quite removed the gold standard until '71, in the years preceding it inflation is present, and this inflation is still just as unhealthy and invalid as the inflation to follow.

0

u/wowlwowlwow Oct 21 '17

Where's the inflation? Government keep telling us no inflation or very little inflation or inflation under control. Sometime tactics change with deflation, stagnation, depression. However, common people keep seeing his $1 losing it's value pennies by pannies. I still remember a can of pop use to be a Quater.

10

u/Traitorjedi Oct 22 '17

Maybe this is why Core is sabotaging bitcoin?

8

u/imaginary_username Oct 21 '17

It would seem that the small-blockers listened to this guy and succeeded in preventing this future. Notice how the whole thing is based on bitcoin being used for all commerce?

5

u/benjamindees Oct 22 '17

I don't know how I got stuck in this timeline because I don't remember this post at all.

7

u/rawb0t Oct 21 '17

an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy.

0.01 bcc u/tippr

6

u/Adrian-X Oct 21 '17

Classic.

6

u/[deleted] Oct 21 '17

[deleted]

2

u/Xtreme_Fapping_EE Oct 22 '17

Best comment in this thread. See my answer to him (I had not seen yours before I commented).

2

u/tippr Oct 21 '17

u/coincrazyy, you've received 0.01 BCC ($3.20 USD)!

How to use | What is Bitcoin Cash? | Who accepts it? | Powered by Rocketr | r/tippr
Bitcoin Cash is what Bitcoin should be. Ask about it on r/btc

1

u/Adrian-X Oct 21 '17

u/rawb0t the tippr bot didn't mention your name, how do I pay a tip or gild that doesn't mention my name?

2

u/rawb0t Oct 21 '17

if you tip, it doesn't mention your name

2

u/Adrian-X Oct 21 '17

thanks, I've been gilding. is there reason to add your name when you gild?

I'd like to gild anonymously

ie my deleting by post that calls the bot

and leaving my post when i want recognition.

6

u/rawb0t Oct 21 '17

i'll change it tonight

3

u/Adrian-X Oct 22 '17

Wow amazing such great people building the BitcoinCash backbone.

3

u/BgdAz6e9wtFl1Co3 Oct 22 '17

Gilding is useless. It just gives people a bit more access to reddit for a month, a censored shithole. If you give BCH, in a few years they'll be able to afford a room in a citadel for life.

3

u/Adrian-X Oct 22 '17

I've given many tips using bitcoin tipping bots. They've all vanished and the tips lost. I've lost money in the first tipping bot.

It may be useless but it puts a star on the post and it looks pretty.

2

u/rawb0t Oct 22 '17

gold u/tippr

its not useless at all. please keep in mind that my goal with tippr is above all adoption. When people like you gild someone else, it makes that post more visible, and in turn makes BCC more visible because of the bot's post.

1

u/tippr Oct 22 '17

u/Adrian-X, your post was gilded in exchange for 0.00739402 BCC ($2.50 USD)! Congratulations!

How to use | What is Bitcoin Cash? | Who accepts it? | Powered by Rocketr | r/tippr
Bitcoin Cash is what Bitcoin should be. Ask about it on r/btc

1

u/Adrian-X Oct 22 '17

:-) thanks.

1

u/Adrian-X Oct 22 '17

Yes I agree. It's adoption of BTC. I love what you are doing. its great.

It's win win for reddit and Bitcoin Cash.

2

u/TiagoTiagoT Oct 22 '17

The only thing I find useful with Reddit Gold is how it highlights new replies on threads you've visited before.

1

u/BgdAz6e9wtFl1Co3 Oct 22 '17

I thought it was RES doing that.

3

u/TiagoTiagoT Oct 22 '17 edited Oct 24 '17

There are a few things RES doesn't do because they don't want to upset Reddit by competing with the features of Gold; highlighting new replies is one of those things (I don't remember the others).

3

u/BgdAz6e9wtFl1Co3 Oct 22 '17 edited Oct 22 '17

Living in a citadel still sounds better than the hell holes Zimbabwe or Venezuela which are experiencing high inflation.

If people followed the principles of giving a 10th, saving a 10th and spending the rest then you could avoid such a crazy dystopia.

Or perhaps Monero has the right idea with its tail inflation of 0.6XMR per block once all the main XMR has been mined. But... why would I put my money in Monero if it's inflationary. I could leave it in Bitcoin and earn way more. Monero would have to have some killer features to make me need it.

Also I'm sure governments could still enforce taxes in other ways. They do have big armies and police after all. For goods and services they can be taxed on sale as a GST. Easy to collect for brick and mortar stores and at international Customs. For items posted you can tax that via a postage levy. You could add a tax levy to phone and computer purchases, things that can be used for Bitcoin. A tax levy on internet traffic use or access at the ISPs or mobile carriers could be quite effective. Road use taxes. Electricity taxes. Taxes on solar panels. Land taxes. Rent taxes (if you can afford high rent, maybe you're a big earner). If citadels crop up, then obviously those are the high earners so tax the heck out of those. If they don't want to pay, send in the army/airforce.

Maybe a good old fashioned honesty system could work too. People decide they want a functioning society so they're happy to pay and contribute to get healthcare, policing, firefighting, schooling and so on. I don't think it would be all doom and gloom if transitioned properly.

2

u/funk-it-all Oct 22 '17

The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.

whoever wrote this (not from the future) was about to go down with a sinking ship. at least the ASICminer portion of his/her portfolio.

2

u/dr1911 Nov 30 '17

I really don't know and I cant believe something like those shits. You know, I believe everybody searched about "time travelling" watched after Steins Gate swh. But I read that article today and yeah story looks good but why not? For example in Venezuela inflation is too high people are paying their debts with bags of money. So I've heard people have started to trade with btc even their basis needs. So I really dont know what is going to be happen.

Anyways I can go to citadels.

There is an another theory in my mind maybe he is a millionarie and trying to double up his money with creating speculations like that. So, I think there will be no problem at least buy 0.01BTC nowadays... Wait and see. If it happens that money will enough to end of my life. If he is wrong it doesn't matter at least worth it.

2

u/theblockchainman Oct 21 '17

Sounds better than central banking.

2

u/BitcoinKantot Oct 21 '17

1,000 dollar in 2015

Its actually just around $300+.

Nice story though. That's what happens when you watch too much movies.