Biden do even bigger stimulus - page 2.

fiulpro

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I don't know really understand how USA is able to print so much money , maybe they are using all their supplies and securities that they had and now I genuinely thought that it would for sure stop at the second or the third but it continues to baffle me.

Will the price of the dollar fall?
Will people invest it into bitcoins ?
Will the stimulus reach the homeless people too?

There are certain websites which do provide a detailed idea of if the person qualifies for a stimulus or no at the same time we have not seen a significant improvement in the COVID cases in the US. They still have to work hard towards that , maybe give people masks and sanitizers with the stimulus. Don't know really why people hate masks there though.

A small quote from a website :

Quote

Citigroup says U.S. dollar may drop by 20% next year on vaccine push. The dollar is likely to begin a drop of as much as 20 per cent in 2021 should COVID-19 vaccines become widely distributed and help to revive global trade and economic growth, according to Citigroup Inc.

This is to be expected for sure. We don't know really how far this will drop to.

Mauser

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Quote from: cryptoboss2020 on January 21, 2021, 02:25:09 PM

That's not bad for bitcoin
Its very good to btc hodlers whos not located in USA but hodling the btc.
So if USA keep printing and keep giving out stimulus we are all good.
I hope that after this stimulus will push btc up there will be more stimulus rounds to go.
First 3 T i hope it can be nice warm up! And I hope USA will contunie this stimulus tradions!

Any little helps for btc price to go up

I think this is just a gift for all the people who voted for him. He already promised during his campaign to hand out more money. The corona pandemic is still forcing many people into lockdown and this stimulus package is actually a good thing. In my opinion giving the poor and middle class families money would help everybody because they definitely need the money and will likely spend it very fast. So the money goes back into circulation and helps the economy.

Gozie51

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Quote from: cryptoboss2020 on January 21, 2021, 02:25:09 PM

And I hope USA will contunie this stimulus tradions!

Any little helps for btc price to go up

No Biden may not continue for long. I think he might look for quicker measure than continuation of the package because of covid-19. Such ways he could work on is to ensure more drugs for prevention and cure flood into the market. Is better to increase the provision made for research on covid-19 than to rely on stimulus because that will later increase inflation.

dothebeats

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If Biden's administration pass on a bigger stimulus, imagine the direct effects to those who will be on the receiving end of the money. They will realize that the bigger number doesn't really change a thing, as the value has already plummeted down once the money is out. True that it might cause some good rides for bitcoin and the cryptocurrency market in general, but you don't really want to see the after-effects of inflation coming into full play. The US is on the edge right now in terms of its domestic economy, and even though the stimulus fund is expected to stimulate the domestic economy, you can't really force people to spend it on things that you want the money to go to.

Wenbing

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Quote from: Twentyonepaylots on January 21, 2021, 04:28:23 PM

Yo, hyperinflation is imminent if the US kept on printing money and not paying debts, so bitcoin may not be affected, but countries who are dependent to America will be. And with this the world economy will be in shambles as USD is a major anchor of most currencies in the market. So you still would have tp worry.

I see printing of currency or fiat currency to be a very wrong strategy for an economy, being USD or any other currency. It will cause inflation, as the current inflation rate of US economy is very low, that makes the economy stable but with continous printing the value of $ will deplete and so will other countries economy be affected as the USD is their reserve currency.

I feel the reserve bank board may need to reconsider this monetary intervention policy.

disconnectme

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Even without the stimulus I expect Crypto to have free ride during Biden administration, money talks in politics, some of the big guys in the Crypto space are strong Biden donors and they will likely influence the decisions that will be made about Crypto in the future. Crypto has created many millionaires and I expect us to dictate the future of this century. I read today that one of the former Ripple advisor is being nominate by Biden, you can't expect them to be talking bad about XRP in their meeting and expect him not to push back

Wexnident

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I'd rather they avoid doing another stimulus and instead approach the issue from a possible alternative point. As much as inflation could boost BTC price, it isn't really something I'd really want to experience, nor let others experience it. I won't be directly affected, yes, but there would still be some, and I honestly don't know how big those effects are, so I'd rather not take the risk.

Though it is indeed unavoidable at this point, I do hope Biden could do something to at least lessen the damages that it could bring. Hope he doesn't just think for his own interests.

southerngentuk

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I've read about the latest news too, actually I feel very positive about Biden. But what current prices are reflecting, people are worrying about something or we are affected by the fighting fish and prevent the price from going up. If the scenario is according to personal guess, the team working under Biden will be the stage, this school is very developed.

cryptoboss2020

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Quote from: The Sceptical Chymist on January 21, 2021, 05:01:56 PM

OP, you really seem to be fixated on all this stimulus money the US is giving out. Are you even a US citizen?

Quote from: KennyR on January 21, 2021, 04:51:32 PM

Hyperinflation might happen, but there won't be much impact over the cryptocurrency market.

Ah, to the contrary. If the USD were to suddenly experience a hyperinflation scenario, my guess is that assets like bitcoin would soar--along with gold and other tangible assets. But as much as I'm a fan of bitcoin, I don't want to see any such thing happen to the USD or any of the major world currencies, because that would mean the world economy is in serious trouble.

And yet....I don't see how we're going to be able to avoid at least very high inflation with all of this money printing and stimulus, unless the government raises taxes like crazy once the economy is stable, or if they figure out a way to cut spending without whacking the bee's nest that is the US government, where nobody wants their own funding cut. We're in 2021; it should prove to be a very interesting decade.

Il m not us citizen.
But it doesnt matter bitcoin is like way to grab your funds from stimulus even you not in USA

The Sceptical Chymist

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OP, you really seem to be fixated on all this stimulus money the US is giving out. Are you even a US citizen?

Quote from: KennyR on January 21, 2021, 04:51:32 PM

Hyperinflation might happen, but there won't be much impact over the cryptocurrency market.

Ah, to the contrary. If the USD were to suddenly experience a hyperinflation scenario, my guess is that assets like bitcoin would soar--along with gold and other tangible assets. But as much as I'm a fan of bitcoin, I don't want to see any such thing happen to the USD or any of the major world currencies, because that would mean the world economy is in serious trouble.

And yet....I don't see how we're going to be able to avoid at least very high inflation with all of this money printing and stimulus, unless the government raises taxes like crazy once the economy is stable, or if they figure out a way to cut spending without whacking the bee's nest that is the US government, where nobody wants their own funding cut. We're in 2021; it should prove to be a very interesting decade.

KennyR

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Quote from: Twentyonepaylots on January 21, 2021, 04:28:23 PM

Yo, hyperinflation is imminent if the US kept on printing money and not paying debts, so bitcoin may not be affected, but countries who are dependent to America will be. And with this the world economy will be in shambles as USD is a major anchor of most currencies in the market. So you still would have tp worry.

Hyperinflation might happen, but there won't be much impact over the cryptocurrency market. Once after the sworn of Biden he has halted all the administrative decisions that were kept prepared by the Trump government. Amongst is the cryptocurrency related decision, and now Biden has stated it to get executed only after perfect review. This is truly a positive sign for the growth of cryptocurrency market with the present government. We don't know what way they've planned the economic upliftment, but there is less chance of disturbance to the cryptocurrency market.

Twentyonepaylots

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Yo, hyperinflation is imminent if the US kept on printing money and not paying debts, so bitcoin may not be affected, but countries who are dependent to America will be. And with this the world economy will be in shambles as USD is a major anchor of most currencies in the market. So you still would have tp worry.

tabas

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Quote from: cryptoboss2020 on January 21, 2021, 02:25:09 PM

That's not bad for bitcoin
Its very good to btc hodlers whos not located in USA but hodling the btc.
So if USA keep printing and keep giving out stimulus we are all good.
I hope that after this stimulus will push btc up there will be more stimulus rounds to go.
First 3 T i hope it can be nice warm up! And I hope USA will contunie this stimulus tradions!

Any little helps for btc price to go up

The last time it has given the stimulus, IIRC, there's no effect. The logic applies that it is going down(US dollars) if they keep on printing and distributing it to their people but the purpose is good but the effect on their economy is bad.
And in bitcoin's economy, it is good because it is becoming the newly found wealth of those who have received it and decided to invest in bitcoin. We knew it that inflation would be the effect of their continuous printing and on the side of bitcoin, an increased price.

cryptoboss2020

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That's not bad for bitcoin
Its very good to btc hodlers whos not located in USA but hodling the btc.
So if USA keep printing and keep giving out stimulus we are all good.
I hope that after this stimulus will push btc up there will be more stimulus rounds to go.
First 3 T i hope it can be nice warm up! And I hope USA will contunie this stimulus tradions!

Any little helps for btc price to go up

Topic: Biden do even bigger stimulus - page 2. (Read 325 times)