Where do I buy bit coin for cheap? Anyone willing to trade via paypal for bit coin? I need bit coin

[+Warwagon MVC]

3 hours ago, wakjak said:

but at the end of the day, it'll always be worth 1 dollar.

 

 

 

 

 

 

 

The value of the dollar changes every day. What is your measurement stick for the value of the dollar?

 

In the early days of bitcoin, some guy spent 1000 bitcoins to buy 1 pizza. In comparison yes I say $1 you hand me a dollar. If a pizza costs $1000, it now takes a lot more of them. So in that regard, 1 dollar will not always be worth $1.

[FunkyMike]

4 hours ago, warwagon said:

The value of the dollar changes every day. What is your measurement stick for the value of the dollar?

 

In the early days of bitcoin, some guy spent 1000 bitcoins to buy 1 pizza. In comparison yes I say $1 you hand me a dollar. If a pizza costs $1000, it now takes a lot more of them. So in that regard, 1 dollar will not always be worth $1.

 

Reminds me of this story:

 

How scientists taught monkeys the concept of money. Not long after, the first prostitute monkey appeared

 

You may have thought things like currency or money are concepts known solely by man – something which differentiates humans from animals. Some might have a sense of ownership, besides of course territory, but trading and the likes haven’t been observed in any other species besides homo sapiens. However, in 2005, an economist/psychologist duo from Yale managed to teach seven capuchin monkeys how to use money, and I’m pretty sure from here on some of you might be able to guess what happened from there on.

 

Monkey Business

 

Quote

“The capuchin has a small brain, and it’s pretty much focused on food and sex,” said Keith Chen, a Yale economist who along with Laurie Santos, a psychologist, are the two researchers who have had made the study. ”You should really think of a capuchin as a bottomless stomach of want,” Chen says. ”You can feed them marshmallows all day, they’ll throw up and then come back for more.”

 

It’s exactly these selfish desires that they tried to exploit and experiment with great success after teaching capuchins to buy grapes, apples, and Jell-O. The economist wanted to study the incentives that motivated specimens to behave in a way, while the psychologist analyzed the behavior itself.

....

When Chen and Santos first started their study, they didn’t have a particular goal in mind. It was just as simple as giving a monkey a dollar and see what would happen, which was exactly the case. Instead of the dollar, however, a silver disc with a hole in its center was employed as a means of currency for the capuchins.

 

It took several months of repetition for the capuchins to learn that they could exchange such a token for fruit. After they understood this, each monkey was given 12 tokens to decide on how to spend it in her best interest on food valued at different prices.

 

Researchers observed that the monkeys could very well budget. Researchers then changed the market and put Jell-O at a lower price, to see if monkeys would buy fewer grapes and more Jell-O. They acted exactly like the current laws of economics dictate for humans as well.

 

They then taught them how to gamble, and saw they made the same irrational decisions a human gambler would make as well. The data generated by the capuchin monkeys, Chen says, ”make them statistically indistinguishable from most stock-market investors.”

 

The capuchin monkeys understood money, not only used it

...

 

Something else happened then too — what’s maybe the most evident form of one’s grasp upon currency. The idea is that you can use money as a form of currency to exchange for goods or services, as in not just food. Well, one of the researchers, during the chaos event, observed how one of the monkeys exchanged money to another for sex. After the act was over, the monkey which was paid immediately used it to buy a grape…

 

There you have it folks, sounds familiar? In almost all aspects, capuchins manage to understand money and use it in a manner not too different from a plain old homo sapiens. The study, titled “How Basic Are Behavioral Biases? Evidence From Capuchin Monkey Trading Behavior“, can be read here.

 

http://www.zmescience.com/research/how-scientists-tught-monkeys-the-concept-of-money-not-long-after-the-first-prostitute-monkey-appeared/