Btw, if BTC was really considered as the new Oil..
price wouldn't be at free fall just as what we seeing at the moment... whatever is going on too early to tell
Topic: Btc new oil for USA - page 2. (Read 668 times)
I don't think that the USA are ready to mix the politics with Bitcoin, and already they have their hands full with this whole Ukraine war support and the elections coming up...I don't think this new Oil line will be a great selling point for the politicians!!!
Btw, if BTC was really considered as the new Oil..
price wouldn't be at free fall just as what we seeing at the moment... whatever is going on too early to tell
Btw, if BTC was really considered as the new Oil..
price wouldn't be at free fall just as what we seeing at the moment... whatever is going on too early to tell
You say too much speculation and your own conclusions. Bitcoin is not the new "oil" for America, and it will not be. When Blackrock dabbled in it, they just wanted to increase the popularity and take a small share of the game. In fact, they don't need to buy more Bitcoin to be able to provide a Bitcoin ETF, just a few thousand is enough, and they can make a profit from trading the 21 million Bitcoin ETF they provide.
There is no need to think too far, because Bitcoin will always belong to the community.
When we said oil we are talking of natural resources, but bitcoin is digital currency that is been built for assistance of traditional currency, we should know that cryptocurrency is different from traditional currency, its difficult currently for government to accept or legalize bitcoin they will also find it unworthy, so therefore, bitcoin can not be American oil because government of America is not fully in support of bitcoin so they will not sudden change There is no need to think too far, because Bitcoin will always belong to the community.
Quote from: BlackBoss_
Bitcoin is for everyone, every nation to step in and join the party
That is why BTC is a decentralized currency that is not control by the government but any government can adopt it for their people to have access to it freely to know what it will bring if they invest their money to it during the bear season which is the right time people use to take the step to invest in BTC.Quote
They only need to wake up, spend money and join the party. If they want to mine Bitcoin, they need to buy ASICs to start mining and build up friendly policy infrastructures for this mining industry. It will help them to get more investment and more miners, then mine more bitcoins and add them to their treasuries.
I know many of them will not like to join mining because, is not an easy work for lazy people and if you are not careful you will not earn anything from it which is the reason many miners use to quit the work to look for other means, where they can get the money to invest in BTC so that they will have hope of winning profits at the end. 
It won’t make really a difference unless USA replaces USD with bitcoin. Right now USD is a bad currency because it has unlimited supply. When blackrock buys btc, it is just another asset in their balance sheets. People need oil to drive their cars but people don’t necessarily need btc to send money. They could very well use ltc or doge for the same purpose. This may change quickly if USA dumps USD and use BTC like El Salvador does. That would drive btc’s price to infinity. Because there won’t be any USD around to name a price for btc.
Its next to impossible that USA will replace their mother currency that has made them rule the world by many years. Yes they can you know allow BTC in its major industrial and international payments sector but they will never replace USD. Still the big area of the armoury is controlled by the USA and they could make the transactions happen through BTC.
But still it depends on the other European union whether they will support the USA in this or not. Due to the economical conditions the USA cannot alone do that and it's very crucial that the USA needs to settle down its economical conditions otherwise they will face a major setback in this world of evolution and power regulation.
Yeah but we need to think about the scalability also. If something is getting highly valued then it doesnt mean that we can just go ahead and start adopting it on global scale. The bitcoin's limited circulation can also get it into trouble at some point because we can not make tiny transactions with it if one satoshi costs 100 bucks in the future!
Let us give it second thought by stopping our positive approach towards it for next two minutes. What do you see? A model that can fail because of it's own roadmap that was designed to sustain for very long period of time.
Big financial institutes are already holding more than millions of bitcoins in their fat wallets. This could be disturbing if we try to replace vital financial options or investment opportunities.
Either we adopt Lightning, or perhaps the population collapses in the future... fewer people could make it with a deflationary currency. Let us give it second thought by stopping our positive approach towards it for next two minutes. What do you see? A model that can fail because of it's own roadmap that was designed to sustain for very long period of time.
Big financial institutes are already holding more than millions of bitcoins in their fat wallets. This could be disturbing if we try to replace vital financial options or investment opportunities.
Yeah but we need to think about the scalability also. If something is getting highly valued then it doesnt mean that we can just go ahead and start adopting it on global scale. The bitcoin's limited circulation can also get it into trouble at some point because we can not make tiny transactions with it if one satoshi costs 100 bucks in the future!
Let us give it second thought by stopping our positive approach towards it for next two minutes. What do you see? A model that can fail because of it's own roadmap that was designed to sustain for very long period of time.
Big financial institutes are already holding more than millions of bitcoins in their fat wallets. This could be disturbing if we try to replace vital financial options or investment opportunities.
Let us give it second thought by stopping our positive approach towards it for next two minutes. What do you see? A model that can fail because of it's own roadmap that was designed to sustain for very long period of time.
Big financial institutes are already holding more than millions of bitcoins in their fat wallets. This could be disturbing if we try to replace vital financial options or investment opportunities.
Bitcoin's finite supply is undoubtedly one of its most intriguing features. Unlike traditional resources, where extraction costs can increase, Bitcoin's scarcity is mathematically guaranteed. With over 19 million Bitcoins already mined, the remaining 2 million will be slowly released over the next century.
This scarcity has led some to view Bitcoin as a "digital gold," a store of value in an increasingly digital world. Gold's limited supply has historically made it a hedge against inflation. Similarly, Bitcoin's proponents believe its finite nature will give it long-term value.
Furthermore, the growing acceptance of Bitcoin as an investment asset adds another layer of intrigue. Imagine a world where Bitcoin is not just a fringe technology, but a mainstream investment option, traded alongside stocks and bonds. This growing adoption could potentially influence its value.
This scarcity has led some to view Bitcoin as a "digital gold," a store of value in an increasingly digital world. Gold's limited supply has historically made it a hedge against inflation. Similarly, Bitcoin's proponents believe its finite nature will give it long-term value.
Furthermore, the growing acceptance of Bitcoin as an investment asset adds another layer of intrigue. Imagine a world where Bitcoin is not just a fringe technology, but a mainstream investment option, traded alongside stocks and bonds. This growing adoption could potentially influence its value.
USA may invest or accumulate the seized Bitcoins which it has been doing for a while especially those related to crime related but they can never control Bitcoin like they do oil and other natural resources because Bitcoin is decentralised they can never control it they may at times try manipulating the market but those would have very limited affect on Bitcoin. Finally out of frustration they may just try making it hard for users to access it when they cannot control.
I'm sorry, but... El Salvador did not give up the dollar. And does not use Bitcoin as a local currency. El Salvador is accumulating Bitcoin assets and using it as an investment asset. And also as an asset that attracts investors to the economy of El Salvador. Therefore, your conclusions based on this erroneous idea will also be erroneous. Sorry if this doesn't please you, but this is the real state of affairs.
El Salvador uses BTC as a local currency.
https://insights.som.yale.edu/insights/el-salvador-adopted-bitcoin-as-an-official-currency-salvadorans-mostly-shrugged
You are wrong on that one.
https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador
And when did Salvador ditch the USD? In the next life?
I'm sorry, but... El Salvador did not give up the dollar.
You both are totally right about that one. I thought they switched from USD to BTC but I was wrong. I totally forgot about it. Now I remember they started using BTC alongside with USD. They didn't abandon USD completely. Maybe one day they will.
But we see that blackrock will buy bitcoins and then it will be like new oil you want btc than you need USD first.
Once again anyone who doubted of USA power will be disapointed again becouse when blackrock owns all the btc or most of them since trump is one of the blackrock buddies you connect the dots the USA will be btc cartel you want btc you buy with USD.
Then it comes USDT and usdc into play we could see how USD stablecoins value going up together with btc.
Now we gona just wait to see situation why a lot people start to buy btc probably wars could be one of the reasons Also the currencies collapse against USD.
Once again anyone who doubted of USA power will be disapointed again becouse when blackrock owns all the btc or most of them since trump is one of the blackrock buddies you connect the dots the USA will be btc cartel you want btc you buy with USD.
Then it comes USDT and usdc into play we could see how USD stablecoins value going up together with btc.
Now we gona just wait to see situation why a lot people start to buy btc probably wars could be one of the reasons Also the currencies collapse against USD.
It might look scary how Blackrock is scooping all the Bitcoin they get there hands on but the question is, who own those coins? Blackrock is just an ETF providers more like a brokerage, when investors start selling their ETFs for profits, Black doesn't have choicr than to sell the Bitcoin under their custody and if they want act smart by holding the Bitcoin and using either their revenue or some investors money to pay off investors because they think it can go up, then I think we are going to likely experience FTX 2.0 because this was what they were doing until the scheme collapse.
We have other rich wallets that are even unknown and these wallets hold more than what Blackrock or any of these exchanges hold. I understand the fear now because having more than 500k BTC under 5 months is wild but I think it's just demand and timing due to bull run, as we approach bear market, expect the numbers to reduce as well. Just know that crypto investors know when they need to trust the government and know when to be smarter.
I also expect Taiwan's invasion by that timeframe... it could be Ukraine on steroids (in terms of financial crisis).
But we see that blackrock will buy bitcoins and then it will be like new oil you want btc than you need USD first.
Once again anyone who doubted of USA power will be disapointed again becouse when blackrock owns all the btc or most of them since trump is one of the blackrock buddies you connect the dots the USA will be btc cartel you want btc you buy with USD.
Then it comes USDT and usdc into play we could see how USD stablecoins value going up together with btc.
Now we gona just wait to see situation why a lot people start to buy btc probably wars could be one of the reasons Also the currencies collapse against USD.
Once again anyone who doubted of USA power will be disapointed again becouse when blackrock owns all the btc or most of them since trump is one of the blackrock buddies you connect the dots the USA will be btc cartel you want btc you buy with USD.
Then it comes USDT and usdc into play we could see how USD stablecoins value going up together with btc.
Now we gona just wait to see situation why a lot people start to buy btc probably wars could be one of the reasons Also the currencies collapse against USD.
It might look scary how Blackrock is scooping all the Bitcoin they get there hands on but the question is, who own those coins? Blackrock is just an ETF providers more like a brokerage, when investors start selling their ETFs for profits, Black doesn't have choicr than to sell the Bitcoin under their custody and if they want act smart by holding the Bitcoin and using either their revenue or some investors money to pay off investors because they think it can go up, then I think we are going to likely experience FTX 2.0 because this was what they were doing until the scheme collapse.
We have other rich wallets that are even unknown and these wallets hold more than what Blackrock or any of these exchanges hold. I understand the fear now because having more than 500k BTC under 5 months is wild but I think it's just demand and timing due to bull run, as we approach bear market, expect the numbers to reduce as well. Just know that crypto investors know when they need to trust the government and know when to be smarter.
I expect BTC to be the famous "BRICS currency". Not a basket of fiat currencies (like the ECU was or the IMF SDR)...
Russia has been mining BTC in secrecy for quite some time already:
https://cointelegraph.com/news/russian-government-subsidies-crypto-mining-facility-in-siberia
BTC will be very useful for dedollarization. By 2030 we will see the endgame of the Great Currency Reset.
Russia has been mining BTC in secrecy for quite some time already:
https://cointelegraph.com/news/russian-government-subsidies-crypto-mining-facility-in-siberia
BTC will be very useful for dedollarization. By 2030 we will see the endgame of the Great Currency Reset.
The missing link in all of these is that Bitcoin is decentralized. Government's can regulate and control natural resources as much as their powers allow. They've done with his with many natural resourcwa,, especially gold and crude oil. Bitcoin is different and should not be dragged into this conversation.
Bitcoin cannot be to the U.S what oil is or was.
Bitcoin cannot be to the U.S what oil is or was.
It won’t make really a difference unless USA replaces USD with bitcoin. Right now USD is a bad currency because it has unlimited supply. When blackrock buys btc, it is just another asset in their balance sheets. People need oil to drive their cars but people don’t necessarily need btc to send money. They could very well use ltc or doge for the same purpose. This may change quickly if USA dumps USD and use BTC like El Salvador does. That would drive btc’s price to infinity. Because there won’t be any USD around to name a price for btc.
I'm sorry, but... El Salvador did not give up the dollar. And does not use Bitcoin as a local currency. El Salvador is accumulating Bitcoin assets and using it as an investment asset. And also as an asset that attracts investors to the economy of El Salvador. Therefore, your conclusions based on this erroneous idea will also be erroneous. Sorry if this doesn't please you, but this is the real state of affairs.
I'm so tired of bitcoin being compared to all these commodities, we're already calling it a digital gold, now someone's saying it's oil because the US is trying to get their hands on the market, when will bitcoin become it's own thing and not just being compared or a better version of an investment or product that's not even remotely related to what bitcoin does, it's just tiring that to insert these metaphors, we always think of things that don't even make sense. Make this post make sense.
In regards to the reason why people are buying bitcoin, it's not the war, it's definitely the current price pump that's making all of this happen, people are feeling that FOMO fever again and these phenomenon repeats almost at a cycle, the difference is that in the background, there's some other significant event happening that's affecting the whole world and we think that it also affects the bitcoin market too when it's our reaction to that background phenomenon that's causing the market movements.
In regards to the reason why people are buying bitcoin, it's not the war, it's definitely the current price pump that's making all of this happen, people are feeling that FOMO fever again and these phenomenon repeats almost at a cycle, the difference is that in the background, there's some other significant event happening that's affecting the whole world and we think that it also affects the bitcoin market too when it's our reaction to that background phenomenon that's causing the market movements.
This may change quickly if USA dumps USD and use BTC like El Salvador does.
And when did Salvador ditch the USD? In the next life?
All in all, Bitcoin could be the new form of power struggle, Russia is not heavily invested into it yet, and considering China is definitely not interested in right now, if Blackrock gets in and buys it all, they will use it as leverage on the dollar and make it more powerful against other currencies. They are not really comparing oil vs bitcoin, they are comparing the "logic" behind why USA is so interested in it, and is it similar to why they are interested in bitcoin too.
That's the funny thing that the alternative everyone is cheering for the US is an alliance of bitcoin-hating countries.
Almost every single one of them has a beef with it, China banning it, Egypt banning it and even making a religious thing out of the ban, both Russia and India are at one point thinking of banning the legalizing, then slapping a 30% tax on it, so it will turn really funny that in their desire to topple the USD they don't realize the US is already dominating the BTC market.
I really want to see the faces of these guys when BlackRock will have more than a million coins in their custody.
When Big names like blackrock Jump in it's not for fun or small money it's a huge money power and control.
You can sell oil but at some point the crude oil ports and refriment centers will be full.
Btc limited supply and financial freedom can now save the USD since blackrock controlled retirement funds are in europe countries like sweden Norway finland Baltics and many others the blackrock have a lot money to play with.
The btc will be huge no questions that it will make so many people richer.
But we see that blackrock will buy bitcoins and then it will be like new oil you want btc than you need USD first.
Once again anyone who doubted of USA power will be disapointed again becouse when blackrock owns all the btc or most of them since trump is one of the blackrock buddies you connect the dots the USA will be btc cartel you want btc you buy with USD.
Then it comes USDT and usdc into play we could see how USD stablecoins value going up together with btc.
Now we gona just wait to see situation why a lot people start to buy btc probably wars could be one of the reasons Also the currencies collapse against USD.
You can sell oil but at some point the crude oil ports and refriment centers will be full.
Btc limited supply and financial freedom can now save the USD since blackrock controlled retirement funds are in europe countries like sweden Norway finland Baltics and many others the blackrock have a lot money to play with.
The btc will be huge no questions that it will make so many people richer.
But we see that blackrock will buy bitcoins and then it will be like new oil you want btc than you need USD first.
Once again anyone who doubted of USA power will be disapointed again becouse when blackrock owns all the btc or most of them since trump is one of the blackrock buddies you connect the dots the USA will be btc cartel you want btc you buy with USD.
Then it comes USDT and usdc into play we could see how USD stablecoins value going up together with btc.
Now we gona just wait to see situation why a lot people start to buy btc probably wars could be one of the reasons Also the currencies collapse against USD.
OP no doubt btc is much more valued and again the currency that works directly with btc is the USD, I don't really know why btc is valued in USD and also know that with this, the USD will continue to be one of the major currency considering the fact that the highest valued currency which btc is valued with it, before you came up with this thread, people already knows about it, that's why you see most coins flooding the market for people to make choice for themselves.
Everyone has equal right in btc, if blackrock buys btc that's good and fine, I think know one is against it but I know for sure that the only effect such move will cause to bitcoin is a bit pump up.
This thread sound to me like there is something that your want to tell us, just feel free we are open to hair it, though that's what I feel.
I can tell you one thing, trading platforms have find a way to attract more investment capital with the introduction of these new Bitcoin ETFs. (So they are milking a new Cow)
They saw the need of investors, wanting to invest in Bitcoin.. but not having to worry about having to worry about securing the coins and fighting over regulatory and tax issues.
Bitcoin ETFs also brought institutional investors into the Bitcoin scene with lower risk offerings on a regulated and familiar platform.
They saw the need of investors, wanting to invest in Bitcoin.. but not having to worry about having to worry about securing the coins and fighting over regulatory and tax issues.
Bitcoin ETFs also brought institutional investors into the Bitcoin scene with lower risk offerings on a regulated and familiar platform.
But not actually holding any real Bitcoin. It seems that they (ETFs) will work, attracting institutional money, but with a clear short-term/speculative vocation, so the new ATH can be unprecedented, but also the subsequent price drop.
I can tell you one thing, trading platforms have find a way to attract more investment capital with the introduction of these new Bitcoin ETFs. (So they are milking a new Cow)
They saw the need of investors, wanting to invest in Bitcoin.. but not having to worry about having to worry about securing the coins and fighting over regulatory and tax issues.
Bitcoin ETFs also brought institutional investors into the Bitcoin scene with lower risk offerings on a regulated and familiar platform.
They saw the need of investors, wanting to invest in Bitcoin.. but not having to worry about having to worry about securing the coins and fighting over regulatory and tax issues.
Bitcoin ETFs also brought institutional investors into the Bitcoin scene with lower risk offerings on a regulated and familiar platform.
Although the US government holds billions worth of Bitcoin, they aren't really investing in it. These coins are proceeds from their seizures of coins believed to be involved in illegal activities. Until now, the US government doesn't recognize that Bitcoin is a great investment choice.
Forget about BlackRock; it isn't the US government. And BlackRock doesn't own the Bitcoin that it has. These are funds of BlackRock clients. BlackRock doesn't have the authority over these funds. Furthermore, BlackRock's clients are from all over the world. They aren't exclusively US investors.
Forget about BlackRock; it isn't the US government. And BlackRock doesn't own the Bitcoin that it has. These are funds of BlackRock clients. BlackRock doesn't have the authority over these funds. Furthermore, BlackRock's clients are from all over the world. They aren't exclusively US investors.
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