Welcome to General Chat - GAW Community Area
This General Chat area started off as a place for people to talk about things that are off topic, however it has quickly evolved into a community and has become an integral part of the GAW experience for many of us.
Based on its evolving needs and plenty of user feedback, we are trying to bring some order and institute some rules. Please make sure you read these rules and participate in the spirit of this community.
Rules for General Chat
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Be respectful to each other. This is of utmost importance, and comments may be removed if deemed not respectful.
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Avoid long drawn out arguments. This should be a place to relax, not to waste your time needlessly.
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Personal anecdotes, puzzles, cute pics/clips - everything welcome
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Please do not spam at the top level. If you have a lot to post each day, try and post them all together in one top level comment
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Try keep things light. If you are bringing in deep stuff, try not to go overboard.
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Things that are clearly on-topic for this board should be posted as a separate post and not here (except if you are new and still getting the feel of this place)
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If you find people violating these rules, deport them rather than start a argument here.
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Feel free to give feedback as these rules are expected to keep evolving
In short, imagine this thread to be a local community hall where we all gather and chat daily. Please be respectful to others in the same way
Rules For the rest of the Site also accessible on the sidebar.
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What are the consequences of broad acceptance of a deflationary currency like Bitcoin? Like when 1% of the worlds Rothschild money is traded into it regularly?
The_Knight_of_sunset is going to do a post soon and your discussion topic might parallel his topic. His topic based on Monomial’s from a few days ago deals with free energy and gold. If there’s free energy and gold available all over the earth to mine using the free energy, won’t gold go down in price. Before the free energy comes in to play, I think Bitcoin and gold will do well.
With Trump 47 (#19 for those who disregard presidents under the 1871 corporation) the debt has to be dealt with. Do we get a “cold turkey” 1929 great crash and a bankruptcy to discharge debts and a great revaluation? If yes, then Bitcoin if mass adapted will do alright and America’s growth in tech, oil, and farming, then Bitcoin should balance out well with growth and prosperity free from speculative debt-based endeavors. Other cryptocurrencies and blockchains that have utility, real purpose for tech or other commerce reasons will do well, and this fits in with the Austrian School of free market economics that competition is good and decentralized currency works best.
It would be nice to have an expert economist use the Looking Glass and tell us how the future goes.