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Cryptocurrency = helicopter money?

  • 22-12-2017 5:32pm
    #1
    Registered Users Posts: 522 ✭✭✭ dealhunter1985


    Central banks have looked into the idea of helicopter money in the past. Could cryptocurrency be a covert initiative amongst central banks to distribute wealth and get people spending again? As far as I know, it's not known who actually invented cryptocurrency.
    Maybe this thread belongs in the conspiracy theory forum... Was just something that occured to me today


Comments

  • Registered Users Posts: 2,976 ✭✭✭ dashoonage


    man i thought you'd bought a helicopter....


  • Registered Users Posts: 522 ✭✭✭ dealhunter1985


    dashoonage wrote: »
    man i thought you'd bought a helicopter....

    Haha sorry for the confusion :)


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Isn't it having the opposite effect, its taking cash out of circulation and people are hoarding it.


  • Registered Users Posts: 6,306 ✭✭✭ EagererBeaver


    Central banks have looked into the idea of helicopter money in the past. Could cryptocurrency be a covert initiative amongst central banks to distribute wealth and get people spending again? As far as I know, it's not known who actually invented cryptocurrency.
    Maybe this thread belongs in the conspiracy theory forum... Was just something that occured to me today
    No


  • Closed Accounts Posts: 657 Shauny2010


    Bitcoin will not be used for helicopter money. But it is a real possibility in the future with this growing debt mountain that we could get a collapse in the current monitory system. At which point Helicopter money would be real, and the printing money would reach hyper inflation levels. It is the only possible way to get rid of all the debt.
    Best have some real Gold, Silver and bitcoin stored away for yourself :)


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  • Registered Users Posts: 522 ✭✭✭ dealhunter1985


    Isn't it having the opposite effect, its taking cash out of circulation and people are hoarding it.

    True I suppose. I was thinking of people sitting on cash in the bank earning zero interest and deciding to have a bit of a gamble...


  • Registered Users Posts: 36,084 ✭✭✭✭ ED E


    S92 costs about €40M. So if you bought when it was $0.05 to the tune of 1000 bucks and sold today at $16,000 you'd have 320,000,000$. Thats 6 and a bit helicopters.


  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 59,680 CMod ✭✭✭✭ unkel


    ED E wrote: »
    S92 costs about €40M. So if you bought when it was $0.05 to the tune of 1000 bucks and sold today at $16,000 you'd have 320,000,000$. Thats 6 and a bit helicopters.

    A proper helicopter for half the price of a cheap Chinese quadcopter. Not bad :D

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



  • Registered Users Posts: 15,094 ✭✭✭✭ Dohnjoe


    Shauny2010 wrote: »
    Bitcoin will not be used for helicopter money. But it is a real possibility in the future with this growing debt mountain that we could get a collapse in the current monitory system. At which point Helicopter money would be real, and the printing money would reach hyper inflation levels. It is the only possible way to get rid of all the debt.
    Best have some real Gold, Silver and bitcoin stored away for yourself :)

    It's actually more likely that a collapse of cryptos would occur (for example regulation could decimate their secondary market value) than a collapse of current fiat systems in progressive countries or the precious metals market

    Systemic economic crises (like 1929 and 2007) are rare enough, and much of the world has taken significant action since the last one (overhaul of regulation, credit, risk, stress tests, etc)

    Still, it may be early days, relatively far away from such a crypto crash, so it's good to have skin in the game. Make hay while the sun shines and all that.


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