Topic: BITCOIN GLORIOUS DAYS MIGHT JUST BE HERE - page 3. (Read 818 times)
America will never ever replace usd with bitcoin. According to John Williams, bitcoin did not passed the requirements to become a currency. While USD is a 'currency' while bitcoin is a 'cryptocurrency'.
Those are just assumptions. Do you really think USD is going to collapse quite easily? There are other countries that depends on the US fiat currency. Even if that happens, think about the people who knows less or nothing at all about bitcoin. They will be facing some hard time trying to understand its usage. Lets not hope that US dollar collapse as we don't want to see any kind of global crisis.
Am still yet to get how the price of the dollar has any connection to the price rise of bitcoin.
The price of dollar is just a medium to evaluate or describe the price of bitcoin
The price of dollar is just a medium to evaluate or describe the price of bitcoin
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.
It will absolutely be very difficult for non tech-savvy people to cope with the adoption of bitcoin having been used to fiat and lack of knowledge in the transactions of btc is going to spell doom to them as you rightly said there are a lot of challenges ahead if possibly the US dollar is ditched for bitcoin and its subject to global recognition by counties willing to adopt it however that is going to be a plus for btc users if eventually China carried out their threat definitely the price of btc will pump. 
There are so many possibility in this community and only the market can decide.
After all this currency were made for the people. they are the only one to decide whether the coin price will rise or not.
It will always depend on the market's demand and not to any speculation.
After all this currency were made for the people. they are the only one to decide whether the coin price will rise or not.
It will always depend on the market's demand and not to any speculation.
Bitcoin total dollar equivalent is currently about $60 billion, although it has reached an all time high of over $200 billion. This is not sufficient to cater for reserves of nations of adopted.
There is the issue of scalability as well. Bitcoin is not yet matured as a currency to support the global financial system, and it doesn't need the dollar to collapse in order to get recognition.
There is the issue of scalability as well. Bitcoin is not yet matured as a currency to support the global financial system, and it doesn't need the dollar to collapse in order to get recognition.
Most likely, we are going to this, that Bitcoin will become a world currency, many already consider it a world currency, and many are delighted with its independence despite the instability in the course. We are going to big changes, and not only in the economy, so it may well be that the dollar is pushed to the bottom of the scab.
Bitcoin will first conquer the smaller economies like in south america and africa. After it is more widely accepted then bigger economies would be more accepting to bitcoins. USD will always be around, despite their trillions of dollars of debt
This topic belongs to the Economy sub-forum.
Anyway,you are underestimating the power of the USD economy.China wants to export goods to the USA,so they won't risk the US economy to collapse.Bitcoin isn't an alternative to the USD alone,bitcoin is an alternative to the entire fiat money financial system.
Anyway,you are underestimating the power of the USD economy.China wants to export goods to the USA,so they won't risk the US economy to collapse.Bitcoin isn't an alternative to the USD alone,bitcoin is an alternative to the entire fiat money financial system.
Bitcoin just slowly conquer the world. Next wave can be again 20000$ or even more. But we need to wait 1 or 2 year more or maybe just 6 months.
Guys, what do you think, will the world likely be willing to adopt the bitcoin as the world currency in the event of the US dollars collapse?
no!
simply because bitcoin is not ready for that kind of huge adoption surge. not to mention that something like that is not going to happen overnight. maybe in a couple of years, for example in 2015, we can see that happening but not before.
besides governments are not so keen on using something decentralized and out of their control. they prefer to use something they can control as much as possible and fiat is the thing to offer that. so if anything they will either switch to another fiat or start a centralized cryptocurrency copying the idea of bitcoin.
I am not sure that the US dollar will collapse where we know that it is the strongest, yes maybe that is only a small decrease when in the future it will return to normal, Bitcoin is not the main solution to be a savior in any way, the nature of decentralization is very difficult for some countries are holding full and in control, don't be too hasty to see the price of Bitcoin soaring quickly, just waiting for time to talk about a very good and very good increase in the power of encouragement so it's not easy to just go down.
If the USD collapses the value of bitcoin will peak in a short. Even when USD is strong, we've reached massive growth in the past. Right now we require time, because it isn't that easy to make something go mainstream. From the beginning it has got high volatility which isn't suitable for a mainstream transaction medium. Bitcoin's glorious days can be experienced in this year.
if usd collapses there will be a "nasa coin" a "virgina coin" an "ohio coin" etc. and they will likely be dominated by either the euro, russian rouble or the chinese yuan.
Nope, that's not the solution at all if there is inflation or something like this that could threaten a country's economic growth. Every currency must have and will experience the deepest level of decline in value. Here we prove that each currency can return to the value it should be, not to be divided but by continuing and working on things to make that value better at current condition.
No Bitcoin wont be adopted by any country instead of its own currency.
They would not be able to control it because its decentralised.
Bitcoin at the moment wouldnt be able to handle all the transactions on
an hourly basis let alone a daily one.
The limited supply of bitcoin and not being able to "print more" is not a
desirable thing for a country looking to use it.
They would not be able to control it because its decentralised.
Bitcoin at the moment wouldnt be able to handle all the transactions on
an hourly basis let alone a daily one.
The limited supply of bitcoin and not being able to "print more" is not a
desirable thing for a country looking to use it.
Sure! We go to that! If in some countries it is already possible to pay Bitcon for services, then soon it can be put in the first place as a world currency, although many already think so.
Sure! We go to that! If in some countries it is already possible to pay Bitcon for services, then soon it can be put in the first place as a world currency, although many already think so.
The interest of the USA might be different from other countries around the world concerning the adoption and acceptability of cryptocurrencies. Remember what happened years ago concerning the SEC and ETF, the question is; Who will control the digital currency? Who is likely to have the secrete data from the blockchain? remember, the world power are owning and likely to seek for bail-out fund; Will they just submit to Chinese or Russian to be in total control?
The fall of the USD doesn't necessarily translate to cryptocurrencies being the replacement qorld currency. Remember, we still have the CNY since the Chinese is also one of the superpowers of the world. I'd love to see bitcoin being utilized not only by normal persons but also by the governments as well, especially on using it on their reserves to replace dollar and co-exist with gold. Anyway, let's be real: no matter how much USD suffers, it'll stay here for far too long knowing how many heads are working together just to make the USD stay afloat amidst all the threats against it.
I have watch analysis on YouTube by different economy think tank how the US dollars is getting weak by the day because of the ever rising USA national debt profile, they huge own the Chinese government trillions of dollars, the government of China has been asking USA government to pay them their debt, but they are not willing to pay. An analyst predicted that the US government is not going to pay China the debt, saying "should the US government offer to pay the trillions of dollars debt, it will spell doom to the US economy and further weaken the dollar or even bring it to its kneel". Because of the aforementioned economic saga, the Chinese government together with some other power blocks are willing to bye pass the US dollars during trade by dealing directly with their local currencies rather than the US dollars. In the recent times, the President of Russia has expressed the willingness to ditch the US dollars.
Should the US dollars greatly loss value and become less use by world economic powers, something else has to move in to replace the green paper(US dollars). Of course, the United States won't like to loss to any country, am thinking maybe the world could just adopt the bitcoin as the world reserve currency, since it's owned by no one and controlled by none.
Guys, what do you think, will the world likely be willing to adopt the bitcoin as the world currency in the event of the US dollars collapse?
Should the US dollars greatly loss value and become less use by world economic powers, something else has to move in to replace the green paper(US dollars). Of course, the United States won't like to loss to any country, am thinking maybe the world could just adopt the bitcoin as the world reserve currency, since it's owned by no one and controlled by none.
Guys, what do you think, will the world likely be willing to adopt the bitcoin as the world currency in the event of the US dollars collapse?
It's highly unlikely that US dollars will collapse to such an extent where the world population need to find a replacement. However, even if anything of that sort happens, bitcoin is simply not be taken as a replacement of USD. Bitcoin network is not capable to handle such high volume. Also the decentralized nature of the network doesn't make it a good fit to replace a centralized fiat currency, the backbone of our financial system (the Banking cartel) won't let it happen. Rather they will resort to yellow metal if USD collapses. I don't see any hope for bitcoin in this situation.
I am a bitcoin and blockchain lover, but it doesn't stop me to speak about reality!
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.
how did you arrive at that analysis and conclusion?
I had watch some some good economic analyst on how the debt and politics of the USA not to pay back their increasing debt is rapidly weakening the dollar, and how countries are preparing for it.
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