if these small defenseless oil producing countries change their oil trading currency off of the usd the usa will invade them and change it back... just like iraq, afghanistan, libya.
they want to go into venuezuela, iran, syria because they are getting off the usd oil reserve system
Topic: Ban bitcoin hardest in the future is more likely to be USA for the oil bitcoin - page 3. (Read 3425 times)
August 08, 2014, 02:45:37 PM
August 08, 2014, 01:01:16 PM
Seems like Russia, India, and China are trying to get around the dollar but it's not by Bitcoin, it's using their own currencies. I agree they're trying to avoid the dollar but it won't be with Bitcoin.
By the way the thread title is not proper English, I had no idea what you were trying to say.
By the way the thread title is not proper English, I had no idea what you were trying to say.
August 08, 2014, 12:58:58 PM
I read the article you posted and It will take much more time and world wide adoption before they start using bitcoin to buy oil. Its too volatile.
August 08, 2014, 12:47:15 PM
As we have know dollars, not any other currency, being used in Oil trading is the base of the dollar's hegemony in the world. But now, bitcoin might challenge it.
Recently, Kuwait-based investment banking and asset management firm Kuwait Financial Centre, released a new report (Disruptive Technology: Bitcoins, Currency Reinvented?) , also known as Markaz. Their research results show that : Oil producing countries, particularly in the GCC, could benefit if they would use bitcoin in oil trading, Markaz’ research department argues： http://www.gulf-times.com/eco.-bus.%20news/256/details/398622/kuwait-finance-firm-suggests-trading-oil-in-bitcoins
It is obvious that this report would lead to bitcoin would not rise within at least six months, and in the future, the hero who would ban the bitcoin most ruthlessly, is very likely America.
I want to say is: this is a breaking news, which indicates that the development of bitcoin far beyond anyone's expectation, and even beyond the americans themselves', although they ever most highly anticipated it.
On one hand, if bitcoin could be used in oil trading, all oil producing countries, particularly in the GCC could benefit. At least they could no longer be ransacked by the devaluation of U.S. dollar. It goes without saying that the transaction costs could be reduced, transaction time could be greatly shortened also. But, the oil dollars, is absolutely the most important base of dollars, the foundation of the dollar's hegemony in the world. The USA won't ignor, much less let it go! Therefore, I think the recent decline of bitcoin is likely to have a close relationship with the news. In this sense, baning bitcoin hardest in the futher, probably not China, is likely to be USA.
On the other hand, it is also an ultimate approval to the value of bitcoin, which is not a simple combination of the 0 and 1, but the most important currency in witch we can do large-scale, long-term, stable exchange with the most important resources in the world.
Of course, America would understand the whole situation later or finally, so the price of bitcion will not crash .
The key is the world could not go back to the past. Bitcoin has so more currency value can even be used in oil trading that it can not be destroy by any institution. Even if some political powers can go with other central banks together to kill bitcoin, the world would not go back yesterday. The world will not return to the past: dollar rule all the land, other currencies just kneeling lick. In fact, many currencies even including the yen and the euro are going to get a spin, not to mention the limelight strong RMB.
If they kill the bitcoin, the future would be likely to be RMB's world. With the rapid development of economy China, oil RMB will see within ten years, maybe even in 6-7 years. Therefore, I believe that Americans will understand this situation that the decline of the dollar is almost inevitable, and they will have to make a painful choice between RMB rule all the land and bitcoin rule all the land sooner or later . No doubt the latter is more beneficial to them, because this game they do have plaied as early as 5 years ago, while most of other countries, other agencies are still hesitant until this year.
So, if the final choice is bitcoin rule all the land, it would be pretty unwise to suppress the bitcoin now, because it can only lower the threshold of entering the game, and result in others benefiting. Drive the prices of bitcoin to raise the bar of this game should be more desirable, because everyone will have to play it in the near futher.
At last, to americans, I think they will understand this sooner or later, to other countries, organizations and individuals, I believe they just need to took the last opportunity to collect the chips ASAP, before the Americans wake up finally, and he price will fall first but most always rise.
Recently, Kuwait-based investment banking and asset management firm Kuwait Financial Centre, released a new report (Disruptive Technology: Bitcoins, Currency Reinvented?) , also known as Markaz. Their research results show that : Oil producing countries, particularly in the GCC, could benefit if they would use bitcoin in oil trading, Markaz’ research department argues： http://www.gulf-times.com/eco.-bus.%20news/256/details/398622/kuwait-finance-firm-suggests-trading-oil-in-bitcoins
It is obvious that this report would lead to bitcoin would not rise within at least six months, and in the future, the hero who would ban the bitcoin most ruthlessly, is very likely America.
I want to say is: this is a breaking news, which indicates that the development of bitcoin far beyond anyone's expectation, and even beyond the americans themselves', although they ever most highly anticipated it.
On one hand, if bitcoin could be used in oil trading, all oil producing countries, particularly in the GCC could benefit. At least they could no longer be ransacked by the devaluation of U.S. dollar. It goes without saying that the transaction costs could be reduced, transaction time could be greatly shortened also. But, the oil dollars, is absolutely the most important base of dollars, the foundation of the dollar's hegemony in the world. The USA won't ignor, much less let it go! Therefore, I think the recent decline of bitcoin is likely to have a close relationship with the news. In this sense, baning bitcoin hardest in the futher, probably not China, is likely to be USA.
On the other hand, it is also an ultimate approval to the value of bitcoin, which is not a simple combination of the 0 and 1, but the most important currency in witch we can do large-scale, long-term, stable exchange with the most important resources in the world.
Of course, America would understand the whole situation later or finally, so the price of bitcion will not crash .
The key is the world could not go back to the past. Bitcoin has so more currency value can even be used in oil trading that it can not be destroy by any institution. Even if some political powers can go with other central banks together to kill bitcoin, the world would not go back yesterday. The world will not return to the past: dollar rule all the land, other currencies just kneeling lick. In fact, many currencies even including the yen and the euro are going to get a spin, not to mention the limelight strong RMB.
If they kill the bitcoin, the future would be likely to be RMB's world. With the rapid development of economy China, oil RMB will see within ten years, maybe even in 6-7 years. Therefore, I believe that Americans will understand this situation that the decline of the dollar is almost inevitable, and they will have to make a painful choice between RMB rule all the land and bitcoin rule all the land sooner or later . No doubt the latter is more beneficial to them, because this game they do have plaied as early as 5 years ago, while most of other countries, other agencies are still hesitant until this year.
So, if the final choice is bitcoin rule all the land, it would be pretty unwise to suppress the bitcoin now, because it can only lower the threshold of entering the game, and result in others benefiting. Drive the prices of bitcoin to raise the bar of this game should be more desirable, because everyone will have to play it in the near futher.
At last, to americans, I think they will understand this sooner or later, to other countries, organizations and individuals, I believe they just need to took the last opportunity to collect the chips ASAP, before the Americans wake up finally, and he price will fall first but most always rise.
First of all, we pretty much have NO IDEA what you typed. Since you can't really type in a comprehensive fashion might I recommend you visit one of the foreign language sub forums on here?
Second of all, America will never ban bitcoin because they can't, it is a private protocol and we are by law allowed to have private items/organizations/companies/protocols/works/jobs/industries/etc... You don't know what you are talking about and I honestly recommend you do more reading about the U.S. before you come in here with your foreign opinion that makes no sense.
August 08, 2014, 10:50:55 AM
seem to remember iraq and libya wanted to use something other than the dollar to trade oil
It's only a little piece of an huge cake in the whole oil business in the world. The main body of this cake is dollar.
August 08, 2014, 10:42:31 AM
seem to remember iraq and libya wanted to use something other than the dollar to trade oil
August 08, 2014, 10:40:39 AM
As we have know dollars, not any other currency, being used in Oil trading is the base of the dollar's hegemony in the world. But now, bitcoin might challenge it.
Recently, Kuwait-based investment banking and asset management firm Kuwait Financial Centre, released a new report (Disruptive Technology: Bitcoins, Currency Reinvented?) , also known as Markaz. Their research results show that : Oil producing countries, particularly in the GCC, could benefit if they would use bitcoin in oil trading, Markaz’ research department argues： http://www.gulf-times.com/eco.-bus.%20news/256/details/398622/kuwait-finance-firm-suggests-trading-oil-in-bitcoins
It is obvious that this report would lead to bitcoin would not rise within at least six months, and in the future, the hero who would ban the bitcoin most ruthlessly, is very likely to be America.
What I want to say is: this is a breaking news, which indicates that the development of bitcoin far beyond anyone's expectation, and even beyond the americans themselves', although they ever most highly anticipated it.
On one hand, if bitcoin could be used in oil trading, all oil producing countries, particularly in the GCC could benefit. At least they could no longer be ransacked by the devaluation of U.S. dollar. It goes without saying that the transaction costs could be reduced, transaction time could be greatly shortened also. But, the oil dollars, is absolutely the most important base of dollars, the foundation of the dollar's hegemony in the world. The USA won't ignor, much less let it go! Therefore, I think the recent decline of bitcoin is likely to have a close relationship with the news. In this sense, baning bitcoin hardest in the futher, probably not China, is likely to be USA.
On the other hand, it is also an ultimate approval to the value of bitcoin. It is not a simple combination of the 0 and 1, but the most important currency in witch we can do large-scale, long-term, stable exchange with the most important resources in the world.
Of course, America would understand the whole situation later or finally, so the price of bitcion will not crash .
The key is that the world could not go back to the past. Bitcoin has so much currency value can even be used in oil trading that it can not be destroy by any institution. Even if some political powers can go with other central banks together to kill bitcoin, the world would not go back to yesterday. The world will not return to the past: dollar rule all the land, other currencies just kneeling lick. In fact, many currencies, even including the yen and the euro, are going to get a spin, not to mention the limelight strong RMB.
If they kill the bitcoin, the future would be likely to be RMB's world. With the rapid development of economy China, oil RMB will see within ten years, maybe even in 6-7 years. Therefore, I believe that Americans will understand this situation that the decline of the dollar is almost inevitable, and finally they will have to make a painful choice between RMB rule all the land or bitcoin rule all the land. No doubt the latter is more beneficial to them, because this game they do have plaied as early as 5 years ago, while most of other countries, other agencies are still hesitant until this year.
So, if the final choice is bitcoin rule all the land, it would be pretty unwise to suppress the bitcoin now, because it can only lower the threshold of entering the game, and result in others benefiting. Drive the prices of bitcoin to raise the bar of this game should be more desirable, because everyone will have to play it in the near futher.
At last, to americans, I think they will understand this sooner or later, to other countries, organizations and individuals, I believe they just need to took the last opportunity to collect the chips ASAP, before the Americans wake up finally, and he price will fall first but most always rise.
Recently, Kuwait-based investment banking and asset management firm Kuwait Financial Centre, released a new report (Disruptive Technology: Bitcoins, Currency Reinvented?) , also known as Markaz. Their research results show that : Oil producing countries, particularly in the GCC, could benefit if they would use bitcoin in oil trading, Markaz’ research department argues： http://www.gulf-times.com/eco.-bus.%20news/256/details/398622/kuwait-finance-firm-suggests-trading-oil-in-bitcoins
It is obvious that this report would lead to bitcoin would not rise within at least six months, and in the future, the hero who would ban the bitcoin most ruthlessly, is very likely to be America.
What I want to say is: this is a breaking news, which indicates that the development of bitcoin far beyond anyone's expectation, and even beyond the americans themselves', although they ever most highly anticipated it.
On one hand, if bitcoin could be used in oil trading, all oil producing countries, particularly in the GCC could benefit. At least they could no longer be ransacked by the devaluation of U.S. dollar. It goes without saying that the transaction costs could be reduced, transaction time could be greatly shortened also. But, the oil dollars, is absolutely the most important base of dollars, the foundation of the dollar's hegemony in the world. The USA won't ignor, much less let it go! Therefore, I think the recent decline of bitcoin is likely to have a close relationship with the news. In this sense, baning bitcoin hardest in the futher, probably not China, is likely to be USA.
On the other hand, it is also an ultimate approval to the value of bitcoin. It is not a simple combination of the 0 and 1, but the most important currency in witch we can do large-scale, long-term, stable exchange with the most important resources in the world.
Of course, America would understand the whole situation later or finally, so the price of bitcion will not crash .
The key is that the world could not go back to the past. Bitcoin has so much currency value can even be used in oil trading that it can not be destroy by any institution. Even if some political powers can go with other central banks together to kill bitcoin, the world would not go back to yesterday. The world will not return to the past: dollar rule all the land, other currencies just kneeling lick. In fact, many currencies, even including the yen and the euro, are going to get a spin, not to mention the limelight strong RMB.
If they kill the bitcoin, the future would be likely to be RMB's world. With the rapid development of economy China, oil RMB will see within ten years, maybe even in 6-7 years. Therefore, I believe that Americans will understand this situation that the decline of the dollar is almost inevitable, and finally they will have to make a painful choice between RMB rule all the land or bitcoin rule all the land. No doubt the latter is more beneficial to them, because this game they do have plaied as early as 5 years ago, while most of other countries, other agencies are still hesitant until this year.
So, if the final choice is bitcoin rule all the land, it would be pretty unwise to suppress the bitcoin now, because it can only lower the threshold of entering the game, and result in others benefiting. Drive the prices of bitcoin to raise the bar of this game should be more desirable, because everyone will have to play it in the near futher.
At last, to americans, I think they will understand this sooner or later, to other countries, organizations and individuals, I believe they just need to took the last opportunity to collect the chips ASAP, before the Americans wake up finally, and he price will fall first but most always rise.
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