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WishIStartedSooner

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Quote from: DiamondCardz on October 01, 2013, 04:26:40 PM

Quote from: digitalindustry on October 01, 2013, 05:28:05 AM

Quote from: DiamondCardz on October 01, 2013, 02:00:54 AM

Quote from: digitalindustry on October 01, 2013, 01:53:51 AM

"If the American economy tanks......."

No possibility the solution has been found .

The 1 Trillion dollar coin will be minted in latest news , but apparently out of storage concerns the coin will be set into a comically oversized hat that will be worn by the Federal Reserve Chairman .

I guess kind of like a " Coin hat " ?

US government advisors stated that the coin hat will need to be purposly comically oversized to show citizens and foriegners alike that of the coin hat wealth and power , and the subsequent wealth and power of thd coin therein placed in the coin hat.

There were arguments about what the oversized coinhat will be made out of , but most settled on a type of light alloy allowing the real 1T coin to be set decoratively into the front , as the Fed chairman will only wear the coinhat when speaking offically about matter of the funing of the US gov debt.

Once the coinhat is handed to the to Fed chairman in an offical crowning the US government can continue normal function .

There will be a small after party apparently some dancing to mark the occasion and possibly the invasion of a small and insignifigant nation , people rumored it may be the Micronesia islands. Just to mark the occasion .

Erm. Yeah. That wasn't a really good joke, you don't simply

a) mint $1 trillion even if you're the U.S Gov
b) wear it in a fucking hat for someone to steal

http://www.businessinsider.com.au/breathe-easy-even-if-the-government-is-shut-down-we-can-still-mint-the-coin-2013-9

lol

...brb gonna go pick my jaw up, honestly thought that was a joke.

What the fuck is this shit?

No shit?
I guess it isn't... most American's I'm betting don't even know about this (I didn't).

http://en.wikipedia.org/wiki/Trillion_dollar_coin

DiamondCardz

legendary

Activity: 1134

Merit: 1118

Quote from: digitalindustry on October 01, 2013, 05:28:05 AM

Quote from: DiamondCardz on October 01, 2013, 02:00:54 AM

Quote from: digitalindustry on October 01, 2013, 01:53:51 AM

"If the American economy tanks......."

No possibility the solution has been found .

The 1 Trillion dollar coin will be minted in latest news , but apparently out of storage concerns the coin will be set into a comically oversized hat that will be worn by the Federal Reserve Chairman .

I guess kind of like a " Coin hat " ?

US government advisors stated that the coin hat will need to be purposly comically oversized to show citizens and foriegners alike that of the coin hat wealth and power , and the subsequent wealth and power of thd coin therein placed in the coin hat.

There were arguments about what the oversized coinhat will be made out of , but most settled on a type of light alloy allowing the real 1T coin to be set decoratively into the front , as the Fed chairman will only wear the coinhat when speaking offically about matter of the funing of the US gov debt.

Once the coinhat is handed to the to Fed chairman in an offical crowning the US government can continue normal function .

There will be a small after party apparently some dancing to mark the occasion and possibly the invasion of a small and insignifigant nation , people rumored it may be the Micronesia islands. Just to mark the occasion .

Erm. Yeah. That wasn't a really good joke, you don't simply

a) mint $1 trillion even if you're the U.S Gov
b) wear it in a fucking hat for someone to steal

http://www.businessinsider.com.au/breathe-easy-even-if-the-government-is-shut-down-we-can-still-mint-the-coin-2013-9

lol

...brb gonna go pick my jaw up, honestly thought that was a joke.

What the fuck is this shit?

digitalindustry

hero member

Activity: 798

Merit: 1000

‘Try to be nice’

Quote from: DiamondCardz on October 01, 2013, 02:00:54 AM

Quote from: digitalindustry on October 01, 2013, 01:53:51 AM

"If the American economy tanks......."

No possibility the solution has been found .

The 1 Trillion dollar coin will be minted in latest news , but apparently out of storage concerns the coin will be set into a comically oversized hat that will be worn by the Federal Reserve Chairman .

I guess kind of like a " Coin hat " ?

US government advisors stated that the coin hat will need to be purposly comically oversized to show citizens and foriegners alike that of the coin hat wealth and power , and the subsequent wealth and power of thd coin therein placed in the coin hat.

There were arguments about what the oversized coinhat will be made out of , but most settled on a type of light alloy allowing the real 1T coin to be set decoratively into the front , as the Fed chairman will only wear the coinhat when speaking offically about matter of the funing of the US gov debt.

Once the coinhat is handed to the to Fed chairman in an offical crowning the US government can continue normal function .

There will be a small after party apparently some dancing to mark the occasion and possibly the invasion of a small and insignifigant nation , people rumored it may be the Micronesia islands. Just to mark the occasion .

Erm. Yeah. That wasn't a really good joke, you don't simply

a) mint $1 trillion even if you're the U.S Gov
b) wear it in a fucking hat for someone to steal

http://www.businessinsider.com.au/breathe-easy-even-if-the-government-is-shut-down-we-can-still-mint-the-coin-2013-9

lol

DiamondCardz

legendary

Activity: 1134

Merit: 1118

Quote from: digitalindustry on October 01, 2013, 01:53:51 AM

"If the American economy tanks......."

No possibility the solution has been found .

The 1 Trillion dollar coin will be minted in latest news , but apparently out of storage concerns the coin will be set into a comically oversized hat that will be worn by the Federal Reserve Chairman .

I guess kind of like a " Coin hat " ?

US government advisors stated that the coin hat will need to be purposly comically oversized to show citizens and foriegners alike that of the coin hat wealth and power , and the subsequent wealth and power of thd coin therein placed in the coin hat.

There were arguments about what the oversized coinhat will be made out of , but most settled on a type of light alloy allowing the real 1T coin to be set decoratively into the front , as the Fed chairman will only wear the coinhat when speaking offically about matter of the funing of the US gov debt.

Once the coinhat is handed to the to Fed chairman in an offical crowning the US government can continue normal function .

There will be a small after party apparently some dancing to mark the occasion and possibly the invasion of a small and insignifigant nation , people rumored it may be the Micronesia islands. Just to mark the occasion .

Erm. Yeah. That wasn't a really good joke, you don't simply

a) mint $1 trillion even if you're the U.S Gov
b) wear it in a fucking hat for someone to steal

digitalindustry

hero member

Activity: 798

Merit: 1000

‘Try to be nice’

"If the American economy tanks......."

No possibility the solution has been found .

The 1 Trillion dollar coin will be minted in latest news , but apparently out of storage concerns the coin will be set into a comically oversized hat that will be worn by the Federal Reserve Chairman .

I guess kind of like a " Coin hat " ?

US government advisors stated that the coin hat will need to be purposly comically oversized to show citizens and foriegners alike that of the coin hat wealth and power , and the subsequent wealth and power of thd coin therein placed in the coin hat.

There were arguments about what the oversized coinhat will be made out of , but most settled on a type of light alloy allowing the real 1T coin to be set decoratively into the front , as the Fed chairman will only wear the coinhat when speaking offically about matter of the funing of the US gov debt.

Once the coinhat is handed to the to Fed chairman in an offical crowning the US government can continue normal function .

There will be a small after party apparently some dancing to mark the occasion and possibly the invasion of a small and insignifigant nation , people rumored it may be the Micronesia islands. Just to mark the occasion .

A L I E N

legendary

Activity: 1358

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Quote from: Hazard on September 29, 2013, 07:12:44 PM

Quote from: ?? on ??

Well, I wasn't thinking about something so extreme... more like slipping back into a recession. What would happen then... especially to the alt coins?

People avoid risky investments (cryptocurrency would fall under this) and move back into safer ones, such as metals.

Partially right, People will flee to dollars (willingly or not) as they unwind speculative positions both domestically (in stocks and commodities) and abroad (in emerging markets). This causes the value of the USD to raise and everything priced in dollars to fall including BTC and PMs. Look at what happened to PM's (and everything else) in 2008.

The best environment for BTC is a continuance of the current one in which the Fed continues to monetize the debt without additional shocks to the economy. This leads to ever increasing inflation (loss of dollar purchasing power) and thus an increase in everything priced in dollars.

digitalindustry

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‘Try to be nice’

Quote from: Coinseeker on September 30, 2013, 10:58:28 AM

If the US economy tanks, so does the world economy. This will mean a significant decrease in the amount of money flowing into the crypto world. Thinking that people will suddenly put their remaining money into crypto, is wishful and possibly delusional thinking. Crypto will take a huge hit and you can expect prices to plummet as people pull their money out of crypto, to pay for basic necessities. The only "ideology" that will matter, is personal survival.

No i believe it will "feel" like "everyone's" world has , but in fact only certain parts of the world will significantly decrease , others will polarize, information effects will equalize and a transference of wealth will occur, the many variables in that depend on where you are geographically , informational(ly) and perceptively.

Coinseeker

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If the US economy tanks, so does the world economy. This will mean a significant decrease in the amount of money flowing into the crypto world. Thinking that people will suddenly put their remaining money into crypto, is wishful and possibly delusional thinking. Crypto will take a huge hit and you can expect prices to plummet as people pull their money out of crypto, to pay for basic necessities. The only "ideology" that will matter, is personal survival.

fattypig

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I believe if the US economy is bad, people would not hold USD and instead hold other currency and/or cryto currency

digitalindustry

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‘Try to be nice’

Quote from: QuantPlus on September 29, 2013, 02:41:00 PM

"Economy tanks" is meaningless without a reason...
For example, it could be a cyclical slowdown, Economic Crisis, trade war, International Crisis, etc...
Each would require a different strategy in terms of the Financial Markets.

Just saying Bitcoin goes up no matter what is simplistic...
Bitcoin is highly centralized in California (devs) and China (ASICs)...
And has never been attacked at the State Level.

+1

can't argue with any of that.

n00ber

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Bitcoin price could potentially rise by the chaos. In a circumstance that the are still electricity, internet and other big countries that still unaffected by american fall. Bitcoin could be the medium of exchange by people affected by the American fall.

If American economy tanks and losses grips on its empire, surely new countries replaces the vacuum and would fighting for the control of the world and resources. A possible world war could happen. That could bring us to another dark ages and billions of people would be dead in a matter of months.

DiamondCardz

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Quote from: Hazard on September 29, 2013, 07:12:44 PM

Quote from: ?? on ??

Well, I wasn't thinking about something so extreme... more like slipping back into a recession. What would happen then... especially to the alt coins?

People avoid risky investments (cryptocurrency would fall under this) and move back into safer ones, such as metals.

Exactly. Gold was used to finance wars and all that, and it has a reputation for keeping value. Bitcoin isn't really at that stage of it's life yet, and a real economy tank would harm Bitcoin at first.

Hazard

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Quote from: ?? on ??

Well, I wasn't thinking about something so extreme... more like slipping back into a recession. What would happen then... especially to the alt coins?

People avoid risky investments (cryptocurrency would fall under this) and move back into safer ones, such as metals.

DiamondCardz

legendary

Activity: 1134

Merit: 1118

Quote from: KonstantinosM on September 29, 2013, 03:53:57 PM

It all depends to what degree the economy will fail too, if it failed to the level that Internet access was compromised BTC could be hurt.

Of course. No internet, or at least no form of, at a basic level, data communication, and you have no continuing blockchain.

KonstantinosM

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Life is a taxable event

Answer to: "If the American Economy Tanks..." = Hope you're not in America!

If it is just the US, the Bitcoin price wouldn't be that much affected. Although I would expect it to rise.
It all depends to what degree the economy will fail too, if it failed to the level that Internet access was compromised BTC could be hurt.

DiamondCardz

legendary

Activity: 1134

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If any fiat economy dies, then lots of people will also die. It's not a good thing to predict. Saying that, if a fiat economy dies, other ones will follow, and Bitcoin will probably struggle to survive as people change to Gold and Silver. If it does survive, however, it will probably rise from then onwards.

nobbynobbynoob

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Annuit cœptis humanae libertas

Hopefully the US economy won't totally collapse. As much as the US government is hateworthy, with the TSA, NSA and all other tyrannical three-letter agencies, not to mention extrajudicial killing of both foreigners and US citizens, I don't like the idea of masses of ordinary Americans suffering because of the crimes of their politicians and Wall St banksters. I actually like Americans generally, and their government being powerful and evil doesn't fundamentally change that. Furthermore, US economic collapse will impact the entire world to some degree or other.

How a slump would affect the price of commodities such as gold and bitcoin depends on many factors. Commodity prices could fall in a deflationary (early 1930s style) depression, but such a scenario seems unlikely with the Fed "printing" so much moolah ("quantitative easing" Mk infinity). Under any chaotic circumstances that don't involve fiat deflation and/or the failure of the entire Internet, I think it's right to be bullish on cryptocurrency, especially bitcoin which already has a firm network effect as the first mover in this market.

elambert

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Seriously doubt it will/would happen. But if it did, it would coincide with a sharp rise in precious metals and cryptos.

QuantPlus

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"Economy tanks" is meaningless without a reason...
For example, it could be a cyclical slowdown, Economic Crisis, trade war, International Crisis, etc...
Each would require a different strategy in terms of the Financial Markets.

Just saying Bitcoin goes up no matter what is simplistic...
Bitcoin is highly centralized in California (devs) and China (ASICs)...
And has never been attacked at the State Level.

hendo420

sr. member

Activity: 420

Merit: 250

Quote from: jdebunt on September 29, 2013, 12:57:57 PM

Quote from: Excelsior on September 29, 2013, 12:55:52 PM

...in the coming weeks and months, would it have an effect on Bitcoin or the altcoins? Just curious what others think.

It would probably impact the Bitcoin rate, which "may" drop, and altcoins could "possibly" rise

or it could do it in reverse, or nothing at all

American economy influences a lot of things i'm afraid, but we'll see

If the US Economy "Tanks" We will see a significant increase in the price of bitcoin.

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