Topic: Btc new oil for USA - page 3. (Read 668 times)

Blackrock will never be able to buy all or even majority of coins, nor do they have an intention to do so. The got into Bitcoin because investors want it so they will make money with it, they don't have any grand plans for it. And I seriously doubt that anyone can both artificially pump Bitcoin to high levels and fully take profits off it. Even if it good be pumped, there would be not a lot of depth and it would fall down quickly. And lastly, how would the US control global Bitcoin markets? They can't close local Bitcoin exchanges.

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.

What is the connection between oil and bitcoin op? Or do you mean that bitcoin is like oil? Do you mean this? Because bitcoin is what we call digital gold in this era, now you compare it to oil. But anyway, Bitcoin is for everyone.

That's why not everyone has an interest in Bitcoin, not everyone likes Bitcoin, and not everyone hates Bitcoin. But most people have a bad view of bitcoin when they don't know anything about it. But when they see the brighter side of Bitcoin, that's when they will see and understand the beauty of Bitcoin as a digital currency.

It is for everyone, in a way that it is decentralized but not all can use it for some reasons. This still can change later on though. A party can sometimes be free and so as the party we have here in BTC. I think there are also free mining services which lets us acquire BTC at no cost. They may not only be worthy. Setting up our own mining farm is not easy and it may not also be profitable.

If we want a hassle-free way of obtaining a BTC, it can be done through buying using our own money. Satoshi Nakamoto is the discoverer of BTC and some says that Satoshi is from USA. If it's true, well I guess the claim that USA discovered Bitcoin can also be valid?

I assume that the logic is that they just go take any oil they want, and use that as their power, they have energy sources that is bigger than almost most nations, and they just go take any they want or they just make a deal with some and become allies, like Saudi Arabia, to get it cheap etc etc.

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.

this Is a total bullshit. What's even the direct relationship between BTC and crude oil? If my elementary knowledge on the supply of crude isn't wrong, there is obviously no point in comparing Bitcoin to crude. Bitcoin is basically a decentralized finance that's limited in it supply unlike the crude that could be easily gotten from the different part of the world and continues replenishing itself with time.

The only assumption I have seen that relates Bitcoin to the price of oil is the assumption that the Higher oil prices tend to raise the cost of producing Bitcoins. Which is arguably to a very large extent.

The value of dollar isn't influence by BTC and as a matter of fact, if we are even considering major factors that influence how valuable and popular BTC is, we should be looking out for, currency reserve status, inflation, political stability, interest rates, speculation, trade deficits etc

That's a very good and interesting point you have raised there. The USA has always been good with its strategy and whenever the need arises the come up with a whole new concept and ideas. The crypto is from one of the things that can help the USA to get back to its actual worth and economical conditions. It's been a long time since the USA is struggling very much and they're facing repercussions on their decisions.

Now the point here to make is that they'll play around with things a little now to get something fit the whole scenario and then they'll scale that thing up to get back to their good economical conditions. BTC could be a part of the game and it might benefit some of the traders very much.

Exactly, there is no relationship between Bitcoin and any other asset. I don't know what people are now connecting everyone to Bitcoin. I guess this is what bull run can bring though, everyone's imagination is running. But during the bear market, lol, no one even mentions Bitcoin but giving them the negative publicity. Of course just like oil, maybe when you invest on them it will make you money. However, Bitcoin is on a different stratosphere, it's one of it's kind, it's crypto that we haven't seen, and it's obvious that the market is very young, just 10+ years and yet as we can see, it has taken the world by storm that it has been compared to gold before and now oil.

You guys have come again, fine, Bitcoin is doing well, but we should not overhype things. Bitcoin is just an investment means and there have been a whole lot of them before it, but you guys are too lousy about the coin, that's what I can say here. Also, I do not just see the correlation you link between it and oil, they are just not the same thing, and with all the assets I have witnessed and have dealt with, and all investment opportunities as well that are not in the form of assets, they have one thing in common, and that is the sure opportunities to make money. Bitcoin is not the first asset that has this sure opportunity to make money and those who are buying it at the current levels are even at high risk if I would tell you the truth.

I am not one of those Bitcointalk members who will be hiding things and start hyping Bitcoin too much, I will always tell the truth to you. This is not a big deal, and I had bought an ordinary land that yielded more than 2000% profits for me. Stocks and other investments have yielded way more for people, so we should calm down when it comes to Bitcoin so that people will not be confused and mistaken and start rebuking Bitcoin just like they did in the last bull run when they lost fortunes to it by buying at a high level. My advice is that people should always take Bitcoin as a normal asset and invest when they believe is right but not believe it is the saviour of the world, it is not.

Mind you, as it has its pros, it also has its cons, so let's be careful. It is only when we fully understand it that we will get to make money from it no matter how little. So let's rather be smart than overhyping it.

The price of BTC now, may have surpassed that of silver currently, but that doesn't still make BTC the new oil for USA.
You can't compare how much trust has been put into the petrodollar century where the world mostly conducts international trades with dollar.

Until the BRICS currency gets into full swing and many countries adopt it, the dollar and U.S oil market will still be more traded with than BTC, even with the spot ETF expected to attract big pocket investors.
It is only when BTC continues to deliver on its vision and mission as a currency of value and a good investment option, based on the demand and acceptance by many government, mostly after the halving; only then will it be the new oil for USA and other countries of the world.

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.

You are missing the whole reason why the US regime's scam with oil and dollar worked.

It is called Petrodollar, and it is US regime forcing everyone to use the US dollar when they want to trade oil. This created a monopoly and artificially strengthened the US dollar. The distinction you are missing is that it was never about having oil or how much oil you have, it is about forcing others to use dollar when trading oil.

They can not force anybody to use dollar when they want to trade bitcoin which means such monopoly can not be created regardless of what companies including Blackrock do, hence you can't even begin to compare the Petrodollar scam with what these companies are doing.

The reason is simple, there are many exchanges around the world that offer bitcoin markets against a wide variety of fiat currencies. The more popular bitcoin gets elsewhere, the more these exchanges grow.
That is not to mention the fact that people don't have to "exchange" fiat for bitcoin. Bitcoin is a currency and people can earn it just like they earn any other currency and it is global.

Chances are that they'll (BR) dump it into the market when they consider that the price is high enough, making great profit for them and also sending the message that Bitcoin (crypto) is not safe, in an orchestrated "double combo".

Well, you talked about conspiracy theories, that's another one

I can't agree more with you, as you can understand or add another factor to this is when 1 BTC is mined according to current price, $72k Dollars are printed or covered by 1 BTC. So guess how many BTC are there and how many are yet to come. USA is trying to control BTC, but unfortunately they can't do that, they might control or confiscate BTC only in the USA, but that would be like axing their own legs, because most of the nodes, validators and miners are in the USA, which means they will only cut there share and will be at loss which they won't and they will take BTC as oil and I fear they might cross the same limits with BTC that they crossed in getting oil. But there is no comparison between Oil and BTC.You have noticed well, but that's not mainly why the USD value increases, there are many other factors included too, as when the US prints more money, the inflation rate in your country increases thus the value of your local currency decreases, thus the value of US dollar increases but this is also not the only factor causing US dollar's value to increase. There are many other factors included too also yours one too.
Nah, money is the only reason, that have made people to buy BTC, how wars fits into this as a cause, you are being so paranoid, no offense its just I felt that way.

So PetroDollar is now going to be BTCDollar?  Just something that comes up in mind about your conspiracy theory.
It is unsure though why people would need BTC just as how people can't live without oil.

The US can't be a cartel of BTC, there are so many countries that are also mining BTC so it's hard to see them take the market alone but Blackrock will have a lot of BTC for they have been buying like crazy.

I don't get why oil analogy would even make sense. Oil isn't really a store of value, it's a source of power. While Bitcoin is a store of value and needs power to be mined. Digital gold is better for comparison.
Also i don't see any evidence that Trump would like bitcoin or endorse bitcoin. If anything he will launch a maga crypto funding platform or something as crappy, with his own blockchain because it's need to be about him. And bitcoin isn't about him.

And about trump: Reason people hoard more bitcoin and gold when there's a change he might be president, is because there's less trust for usd and stability of US government. You know, reason why bitcoin was created in a first place, public's way to transfer wealth without working government. Fiat system might fall, and if it falls, Trump era would be my bet for that one. It's needed when government can't be trusted.

Bitcoin is a bit about something else, it's not an analog of a mined resource. The total amount of bitcoin is really limited, unlike fossil resources - they can only increase the cost of extraction. Bitcoin is mathematically finite, and as of today, out of 21 million bitcoins, 19+ million have already been mined. Mined in 15 years. The remaining less than 2 million will be mined over the next 120 years. Given the FACT that today bitcoin is officially accepted and authorized for use as an investment asset, it is already becoming a mechanism for preserving and increasing value, and in the long run - a mechanism for assessing the value of the entire world economy, including oil and gold. And we understand perfectly well that the total value of the world economy will grow. Total - the value of bitcoin will grow, and those who now accumulate more of it will have a huge advantage

I do not see any relationship between Bitcoin, BlackRock, oil, and the analysis you provided to support your argument that Bitcoin is here to stay. BlackRock manages assets in the trillions and these investors like to diversify their investments, and since Bitcoin has been making a lot of noise in recent years, some investors will try investing in this new asset.
Without a regulatory overlay and decentralization, Bitcoin will fail to serve as a currency for settling international trade.

Bitcoin is for everyone, every nation to step in and join the party.

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.

They can simply spend money to buy Bitcoin like Bitcoin Spot ETFs are doing.

The USA. does not discover Bitcoin, it is there for all.

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.