BITCOIN GLORIOUS DAYS MIGHT JUST BE HERE

gabmen

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Quote from: rollingstorm45 on March 04, 2019, 09:04:19 PM

Quote from: Gozie51 on January 29, 2019, 04:45:44 AM

The possibilities are there to adopt bitcoin but I don't think it is going to play the role of fiat also but solely as cryptocurrency or digital currency. But my question is to the last part of where you alluded that the US dollar is collapsing or in the event of its collapse. Please, how did you arrive at that analysis and conclusion?

the possibility of a collapse of the US dollar is very unlikely, because the dollar is an international currency and all countries when trade between countries must use dollars, this makes the position of the dollar very strong. if the dollar collapses then all the business world will collapse. if crypto has the potential to replace the dollar, it is only an alternative payment.

I agree with that. I don't really understand why a lot of people here seem to be very sure of a dollar collapse when the backlash of that can potentially be catastrophic and may take a long time before the economy can recover. I don't think crypto by itself can save us from that.

rollingstorm45

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Quote from: Gozie51 on January 29, 2019, 04:45:44 AM

The possibilities are there to adopt bitcoin but I don't think it is going to play the role of fiat also but solely as cryptocurrency or digital currency. But my question is to the last part of where you alluded that the US dollar is collapsing or in the event of its collapse. Please, how did you arrive at that analysis and conclusion?

the possibility of a collapse of the US dollar is very unlikely, because the dollar is an international currency and all countries when trade between countries must use dollars, this makes the position of the dollar very strong. if the dollar collapses then all the business world will collapse. if crypto has the potential to replace the dollar, it is only an alternative payment.

matthewio

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bitcoin is great

We live in a debt-based economy and the debt keeps pilling up. US is chief when it comes to this , keep pilling up debt and raising the debt ceiling. Ideally this should make alternative currencies such as bitcoin much more powerful but governmemt seem to always play the smart one on everybody-suppressing the growth of bitcoin.Eventually, bitcoin will soar

meanwords

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I heard the news too from some source. US dollars is getting weaker it seems. It is more likely that China and Russia will lead to the rejection of dollars because we know how Russia's and China's are getting stronger each day. As for cryptocurrency. People won't migrate to Bitcoin immediately. Since the risk is still high enough, they won't do it but they will consider it.

Tondya

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It looks like crypto is about to be an excuse to start political conflict. It's understandable USA likes to hold control of the situation but so the other parties. And perhaps soon currency issue might serve as another way of sanctioning each other.

Siren

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While you are waiting for impossibility .my answer for the question is the world will accept bitcoin as worldwide currency without dollar being bypassed.

Long before cryptocurrency was born,USD is already here and even after crypto gone(though impossible also to haplen)this fiat woll still remain.so theres nothing to expect but the adoption of bitcoin will happen in iur generations

Daper

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LOL yet another ignorant dimwit with absolute zero understanding of real world economics, lost in his fantasy la la world here

BLAST2MARS

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Quote from: HODL2090 on January 30, 2019, 11:31:30 AM

Bitcoin total dollar equivalent is currently about $60 billion, although it has reached an all time high of over $200 billion. This is not sufficient to cater for reserves of nations of adopted.
There is the issue of scalability as well. Bitcoin is not yet matured as a currency to support the global financial system, and it doesn't need the dollar to collapse in order to get recognition.

It's true. Bitcoin is not here just waiting for an economy to collapse so it can be used. The goal of bitcoin is for the trustless transactions and convenience for the users. OP is downgrading the bitcoin with the scenario when it's supposed to be invented to be more than that.

keanne_isaac

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if other countries would bypass the usage of u.s dollar and instead use the bitcoin or other crypto currency as medium of payment this would generate huge price surge of crypto prices and i think this would much better than using a u.s. dollar which run by only one government. bitcoin is decentralized and it is not controlled by any one unless if you have plenty of it which i think china are also accumulating this coin and will pump anytime soon in the right time

SiDtHeBeSt

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Bitocins glorious days might just not be close it will take more time than we think, bitcoin's glorious day was when it peaked to 20,000$ and I don't see that happening soon. Market isn't going very smooth I guess. So we might just have to wait for some time to see bitcoin coming back to its old days.

Winkletoss

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Quote from: andika2018 on February 17, 2019, 12:13:53 AM

Quote from: mk4 on January 29, 2019, 06:09:16 AM

The collapse of the USD doesn't automatically mean that the majority of people are going to move to bitcoin. While yes, some may do, but majority(especially the non tech-savvy people)? Probably not; though I definitely hope they give bitcoin a shot. My number one issue with this is bitcoin being stolen from the non tech-savvy simply because of the lack of knowledge in how to protect their funds.

If US Dollar lossing the power, people will thinking about alternative currency and bitcoin can be that alternative. Current news, bitcoin can use for transaction without internet and i think it just waiting government regulation. If government regulate bitcoin, perhaps people who use bitcoin for transaction in merchant will rising

Yes, maybe they will use something similar to Ripple backed with something. But can take time to adopt some people arent that tech-savvy.

andika2018

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Quote from: mk4 on January 29, 2019, 06:09:16 AM

The collapse of the USD doesn't automatically mean that the majority of people are going to move to bitcoin. While yes, some may do, but majority(especially the non tech-savvy people)? Probably not; though I definitely hope they give bitcoin a shot. My number one issue with this is bitcoin being stolen from the non tech-savvy simply because of the lack of knowledge in how to protect their funds.

If US Dollar lossing the power, people will thinking about alternative currency and bitcoin can be that alternative. Current news, bitcoin can use for transaction without internet and i think it just waiting government regulation. If government regulate bitcoin, perhaps people who use bitcoin for transaction in merchant will rising

judeafante

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It's possible n fact some US states have already passed a bill legalizing and treating cryptocurrency as money, I think 2 to 4 states have already done so and many more coming but it will still take some time before that happens and not at this market condition.

bajingluncat

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I still think that people's view of the dollar and bitcoin is still different, especially for people who lack knowledge of technology, if the price of the dollar really collapses, I believe that people will replace it with fiat money in other countries, maybe yuan or euro. bitcoin is still considered a high-risk coin, and there are still many of them who consider bitcoin only a coin of investment assets not currency, so the conclusion of the collapse of the dollar does not guarantee that people switch completely to bitcoin because cryptos and fiat currencies can only be used side by side instead to replace each other.

pixie85

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Quote from: pawanjain on February 16, 2019, 12:27:05 AM

Whenever there is a financial crisis, I think bitcoin's price will hit the top since people would rather invest in a developing currency rather than a weak currency.
If the content in the OP is true then there are very good chances that people will adopt the Bitcoin technology and will buy bitcoins when US dollar falls in price.
There are good chances for bitcoin to go to the top in future since financial crisis keeps happening from time to time.

People would rather buy a developing currency you got that right but they would also buy a commodity like gold over this developing currency. In a big monetary crash people will dump fiat currencies and buy physical goods like gold and silver coins, bars, even cars because you can move them around and they retain value better than fiat.

gabmen

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Quote from: leonair on February 16, 2019, 12:09:08 AM

If US think of this today then maybe they would realize that going to cryptocurrency would be the next best move for their dollars future before its too late.

Who knows what will happen next but it's obvious that digitalization is the big thing as of now.

Even fiat is being digitalized and yeah it seems that the future is primed for a digital revolution. But that'll take a longer time for me. The current system is where majority of our transactions are rooted. And a transition may take probably several years.

pawanjain

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Nothing lasts forever

Whenever there is a financial crisis, I think bitcoin's price will hit the top since people would rather invest in a developing currency rather than a weak currency.
If the content in the OP is true then there are very good chances that people will adopt the Bitcoin technology and will buy bitcoins when US dollar falls in price.
There are good chances for bitcoin to go to the top in future since financial crisis keeps happening from time to time.

leonair

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If US think of this today then maybe they would realize that going to cryptocurrency would be the next best move for their dollars future before its too late.

Who knows what will happen next but it's obvious that digitalization is the big thing as of now.

Indrawan77

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Well as a bitcoin enthusiastic, I support if the world want to make bitcoin into a reserve currency, but because its not own by anyone I afraid there will be a lot of manipulation in the price, which I think could be bad, but in other hands putting bitcoin as reserve currency could make the grow become significant and give easiness for everyone to use, I think there are more positive advantages if bitcoin is used as a reserve currency

kram31

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There are big possibilities that bitcoin will climb up again and retain its status before as there are so many great news in the community in different part of the world.
But we should wait more and lets see what will SEC do on the ETF. remember more demand and hold will get us quicker to what we are wishing for.

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