Topic: Bitcoin after the collapse of the Dollar - page 2. (Read 3782 times)

Do you have any facts to strengthen your argument? The US dollar will strengthen if the public debt is reduced. That is not going to happen until Obama is removed from the office.

The U.S. dollar has been the world currency for something over 3 decades. Because of greed among bankers and investors, and because of lack of Federal Reserve Bank foresight and controls, the dollar is collapsing as the world currency. The only thing that is holding the dollar up currently is the faith that if you go to the store, you can buy something with it. Since other countries (China) are constantly watching the dollar - because it is somewhat of a barrier that keeps their own currency from excelling - they see the mismanagement that is going on. They are pulling out of the dollar. Already Russia, Germany and China, along with various countries in Africa and the Middle east, are starting to trade oil for gold rather than the dollar.

What is your USD paycheck worth in the scheme of things? If you earn $1,000 a week, what is that compared to the formal U.S. debt of $17 trillion? And when you consider that the little bit of USD that you have is worth even less when compared with the informal U.S. debt (which is probably around $200 trillion), why would you have faith in the USD? It is only the trust and hope of the people and the foreign nations that is keeping the USD from collapsing into hyper-inflation. Expect this to happen - hyper-inflation - in 3 or 4 month. It's starting already in the grocery store.

Bitcoin just might be the savior for the American people. And those who are in now will be the wealthy of the future.

move to crypto is only a matter of time.

Nah. dollar will strengthen this year.

Ruble had a very bad year, but the Russian government don't care about it. Actually it is beneficial for them, as they are mostly an exporting nation. On the other hand, USD is doing good so far this year.

Dollar and Rouble had rather bad year, especially after big intervention into Rouble.

Bitcoin is simply better then normal currency because of transactions. It won't be collapse of dollar, it will be ignorance of dollar existence.

IMHO, China yuan is supported by nothing but CP's gun. Many chinese predict china yuan will collapse in the near future, and a number of them exchange their CNY for USD. The following link is a post from a chinese bbs which can support my point of view. The OP exchanged his asset for  $2 million!

http://bbs.tianya.cn/post-develop-1575919-1.shtml

"Ye gods lad, you're saying a barrel of this 'oil' of yours will one day be more valuable than a horse?! MADNESS! Madness I say!"

https://medium.com/what-i-learned-today/1a812f8fa7cd

That is rubbish. Bitcoin will be having value, regardless whether the USD is around or not. Although most of the exchanges of BTC are conducted in USD, don't forget that a significant part is also done using the Euro, Russian Rouble and the UK Pound.

No dollar, no bitcoin value, sorry.

Bitcoin would have to be more valued than gold.

People off grid or on will not exchange in something which can be destroyed, hard asset cannot.

Xapo forecasts that each BTC will be $500K to $1m in 10 years.  This doesn't even factor in a dollar collapse.  By the time that actually happens we aren't even going to look at the dollar as a form of measurement.

I personally don't think it will ever get that high.  We won't be using BTC exclusively in our future world of crypto.  Ethereum and/or something else will cut into that market-share I'm sure.

like many ... you can buy nothing with gold and silver "metal" if you don't have a middle man (bank or notary).
but with independant and valuable network (that it works with no middle man), you can buy anything with stable price !

Gold will go up because of its history as currency and store of wealth and the fact that most people don't understand Bitcoin and think that "if you can't touch it you don't own it",  while other realize that btc can do all that gold can do and do it better mostly (and a lot more). Both up a lot but maybe btc more because gold is already quite expensive.

$6,000 assumes a very small market-cap for a form of money that is about to take over the world...

Bitcoin after the collapse of the Dollar
96.8% of current internet users will not be able to afford to pay monthly internet access fees.
Mining will be much easier. 

Seriously, buying food could be a concern for many middle-class people.
I would expect BTC to be worth at least 5x the current all time high. (~$6,000+/btc)

It would have been nice if it happens so. But I don't think that any such incident will benefit the Bitcoin. If the USD collapse, people are likely to shift their investments to risk-free assets such as bullion and real estate. Bitcoin is currently being considered as a high risk investment.

That is correct. The US economy is today little more than a house of cards protected by a whole lotta firepower.

I shudder to think how the US government will behave when backed into the corner of debt-repayment by China et all...

It will be up to every US citizen to curtail their government and prevent total annihilation.

Related: Dead Dollar Walking - Stephan Molyneux

I hope after all of this much more people will move to cryptocurrencies only.

I am planning on having some metal, some bitcoin, and some cash.  At least then I won't lose it all.

Very well observed.

However after the storm was over, gold appreciated to a new high. Had BTC been around at the time, it sure would have done so as well. First deflationary shock, then hyperinflation, is what the critics say. 

Such a crisis is also a wakeup call to many people who then look for alternatives.