Topic: Can Bitcoin save U.S. from its rising national debt? - page 2. (Read 497 times)
Why Bitcoin should correct US errors, of course not, Bitcoin will not be able to slow down the bomb of the growing debt to the United States. Maybe if Bitcoin stands on a par with fiat, then it will play a role.
Bitcoin is totally different and it never going to solution for us us debt raising maybe the US people can use bitcoin and invest their in bitcoins.
The US national debt for the first time passed $22 trillion a big scary number but still under control.
The US national debt for the first time passed $22 trillion a big scary number but still under control.
Based on my experience, I was saved by bitcoin to pay for the debts I had last 2018. The investments for bitcoin is our potential profit, and it's benefit will be an awesome thing to make it as a source of income. If you're working for so long and you still got the low paying job I don't think it will solve our debts quicker, because it may take long years to fully paid.
Will the US Federal Reserve keep printing dollars? It is not the right policy to constantly print dollars. They will not continue this open policy anyway. Strict monetary policy will try to improve the economy. Bitcoin is not a salvation. Bitcoin can offer a new economic model. It may not solve the debt burden of the old system.
The US national debt for the first time passed $22 trillion a big scary number but still under control.
It's not under control, lol. It's not even possible to slow down the debt ticker any time soon. The very fact that people have somewhat accepted that the US debt keeps growing is quite concerning, mainly so with how little they do to hedge the negative consequences as result of that. This irresponsible behavior is why the so called poor stay poor and the rich get richer.
I have last year seen an interview with an economist saying that as long as the US prints money there is nothing to worry about, which is retarded. The more money is being printed the bigger the impact of an implosion will be. It's only a matter of time before that happens. Yes, that implosion could be 5-10 years away, but that doesn't change the outcome. It will drag down the entire world economy.
Bitcoin is totally different and it never going to solution for us us debt raising maybe the US people can use bitcoin and invest their in bitcoins.
The US national debt for the first time passed $22 trillion a big scary number but still under control.
The US national debt for the first time passed $22 trillion a big scary number but still under control.
So what do you expect in numbers for US national debt to look out of control? The situation demands action here and crypto can only help if they want to dump their fiat under the grave of their exhausted economy and take a leap from their traditional systems which have ruined everything. Stop taking loans to eat out, throw parties to your friends, gfs or whatever the heck and start repaying them. If the quota that is living on debts completely, starts repaying at least 10% of their debts each year, I see US getting back on tracks again in just 2 decades. Why buy when you can't repay? This should be asked to the people who take loans but don't have the power to repay. Similarly, I have seen more unsecured loans than secured loans, with minimal docs. These loans, when defaulted, are shown as bankruptcy to keep themselves safe.
Will the US officially accept bitcoin? We think this is difficult. Because many banks are strong in the US Now let's get to the bottom of a problem. Who brings Bitcoin to these prices and tries the system? Maybe these banks are called the system.
Bitcoin is totally different and it never going to solution for us us debt raising maybe the US people can use bitcoin and invest their in bitcoins.
The US national debt for the first time passed $22 trillion a big scary number but still under control.
The US national debt for the first time passed $22 trillion a big scary number but still under control.
Yes, it could. But the US is too bank-dependent, so it is unlikely to accept crypto.
I don't think so. Even Donald Trump isn't supportive about bitcoin so how come it'll be their solution? And I also believe that national debt is normal for a country, even the developed ones. As far as what my knowledge can give, debts are paid using citizen's money. Tax. The government itself know how to reduce and pay their debts without using cryptocurrency. It's just very contradicting for them to use Bitcoin in paying debts when they don't like Bitcoin.
The only thing that will save Americans from their rising debt is either cutting spending (like cutting the amount they spend on the military) or by raising tax either through increased growth which automatically generates revenue, or by increasing taxes.
Bitcoin is just a token, it's neutral, it doesn't have any effect on spending or saving decisions. Only people can make spending or saving decisions.
Bitcoin is just a token, it's neutral, it doesn't have any effect on spending or saving decisions. Only people can make spending or saving decisions.
All I can see for now is that the US citizen will use Bitcoin to save their money from the impending (If not resolved) dollar crash. If the US government doesn't have any plan on paying their debt, how can Bitcoin help in that matter when it was their government who are against it.
There is something that I'm concerned about this, knowing who the U.S. has a debt to. It's mostly in China [1]. The $1.11 Trillion of ownership of China [2]. The retirement money that the public has has the most contribution to the total debt. So, knowing that it's retirement money, maybe if they could distribute it as cryptocurrency, then they could probably lessen but not save the whole debt. Not everyone is going to accept it. I'm not sure if they would go and get it.
[1] - https://www.thebalance.com/u-s-debt-to-china-how-much-does-it-own-3306355
[2] - https://ticdata.treasury.gov/Publish/mfh.txt
[1] - https://www.thebalance.com/u-s-debt-to-china-how-much-does-it-own-3306355
[2] - https://ticdata.treasury.gov/Publish/mfh.txt
Bitcoin cannot solve the problem, but it might make debt a lot more difficult to do. In Bitcoin you do not have a constant centralized financial system
that generates credit from thin air on a centralized ledger system. So you cannot create bitcoins out of thin air and that makes debt creation
virtually impossible. The problem with this is that the demand for bitcoins would drive the price to crazy levels and it might make bitcoins or even
Satoshi's very expensive, if Bitcoin was used as a reserve currency.
(The last time the US Reserve Bank printed more Dollars, they printed 2X
the total Market worth of Bitcoin)
that generates credit from thin air on a centralized ledger system. So you cannot create bitcoins out of thin air and that makes debt creation
virtually impossible. The problem with this is that the demand for bitcoins would drive the price to crazy levels and it might make bitcoins or even
Satoshi's very expensive, if Bitcoin was used as a reserve currency.
(The last time the US Reserve Bank printed more Dollars, they printed 2Xthe total Market worth of Bitcoin)
income does not match the amount of debt in the country, I feel they look stupid by the way they maintain the traditional currency, it's time to change ways of payment that are faster and easier transactions for faster wheels of the economy to grow rapidly, I can not say many things about this because I don't have good economics, just telling them bitcoin will be the best solution to overcome the world economy
how would it fix the national debt? the article doesn't really say.
Just as it will eradicate poverty in Africa, cure cancer and bring Elvis back.
I think it's about time cheezcarls stops with these clickbait links and joins the fate of coinidol, 20 stupid topics in the last week and I'm just drinking my coffee and he has already opened 3 just this morning.
US citizens will probably start using Canadian dollars or Mexican pesos if and when the USD becomes worthless.
If the $ crashes, Mexicans will use Venezuelan Bolivars
When the government starts legalizing bitcoin and its transactions for legal payments, the government will easily implement tax rules. I think tax is not a new idea for cryptocurrency, especially bitcoin.
The tax will most likely help the government pay its debts.
The tax will most likely help the government pay its debts.
So your marvelous idea is about taxing transactions to raise money....and, of course, this need be done with bitcoin as it is impossible right now to do it with fiat! Just as it's almost impossible for me not to post some sarcastic replies early in the morning!
Bitcoin won't save the US from the growing debt.
Nor will gold, litecoin or onecoin.
To stop the debt you need to spend less than what you earn, simple as that. And the model is there in plain view, Germany, the only economic superpower which is posting budged surplus after surplus and has brought down its debt from 82% of GDP in 2010 to 63% right now.
~snip
Do you honestly think that only Bitcoin can fix this “ticking time bomb” in the United States?
~snip
Something might happen in the future, nothing is impossible. Bitcoin has an important role as a digital currency that is very valuable. Do you honestly think that only Bitcoin can fix this “ticking time bomb” in the United States?
~snip
When the government starts legalizing bitcoin and its transactions for legal payments, the government will easily implement tax rules. I think tax is not a new idea for cryptocurrency, especially bitcoin.
The tax will most likely help the government pay its debts. The US is a superpower, but it surprised me when they were also faced with a sizable state debt.
...snip...
how would it fix the national debt? the article doesn't really say. the author just hypes up bitcoin's scarcity and suggests the price will rise. are we talking about scrapping the USD for bitcoin? backing the USD with bitcoin? the treasury holding bitcoin reserves as a hedge?
how would it fix the national debt? the article doesn't really say. the author just hypes up bitcoin's scarcity and suggests the price will rise. are we talking about scrapping the USD for bitcoin? backing the USD with bitcoin? the treasury holding bitcoin reserves as a hedge?
Neither of all three ways could help out because bitcoin is too scarce in number that if US takes over all of the BTC under their authority, they'd lose it to themselves as the chance of price rising will get to nowhere as it will all be centralized then and no one out of US will take interest in buying it for their wanted prices.
If they don't get all the BTC, they can only accumulate and wait for BTC to play by millions of USD per BTC for them to get even 0.1% of their debts to be cleared off. Nothing is being done by Trump's part actually to play any good in the books of debts reduction.
lowering the national debt was one of donald trump's campaign promises. politicians....
how would it fix the national debt? the article doesn't really say. the author just hypes up bitcoin's scarcity and suggests the price will rise. are we talking about scrapping the USD for bitcoin? backing the USD with bitcoin? the treasury holding bitcoin reserves as a hedge?
Now I have a question to all of you here. Do you honestly think that only Bitcoin can fix this “ticking time bomb” in the United States?
I would like to hear out your reactions or opinion about this one guys. Happy Sunday everyone!
I would like to hear out your reactions or opinion about this one guys. Happy Sunday everyone!
how would it fix the national debt? the article doesn't really say. the author just hypes up bitcoin's scarcity and suggests the price will rise. are we talking about scrapping the USD for bitcoin? backing the USD with bitcoin? the treasury holding bitcoin reserves as a hedge?
Of course, US president Donald Trump is rejoicing that the stocks is at its all-time high.
That isn't surprising, given his past and present career as a businessman and no history as a politician. He's ignoring the national debt just like most other politicians and everyone else for that matter. The whole US economy seems to becoming a giant Ponzi scheme or a game of musical chairs, and the rampant printing of money and soaring debt can't continue indefinitely.But the question is whether bitcoin can save us from the consequences, right? Well, I don't see how that's possible unless people hold bitcoin (and it holds its value) while the US economy/Ponzi comes crashing down. I really don't want to see that happen, to be honest. I also don't think bitcoin is going to help much, either. US citizens will probably start using Canadian dollars or Mexican pesos if and when the USD becomes worthless. That'll be a sad day for all American citizens.
I'll be holding bitcoin if I'm still alive when that happens, which I hope I'm not.
Nah they will most likely go to negative bonds that pay negative interest rates. Europe does it now.
So 35 trillion in debt is paid back as 34.5 trillion.
Check it out
https://www.bloomberg.com/quicktake/negative-interest-rates
this is a brilliant scheme.
Of course, US president Donald Trump is rejoicing that the stocks is at its all-time high.
That isn't surprising, given his past and present career as a businessman and no history as a politician. He's ignoring the national debt just like most other politicians and everyone else for that matter. The whole US economy seems to becoming a giant Ponzi scheme or a game of musical chairs, and the rampant printing of money and soaring debt can't continue indefinitely.But the question is whether bitcoin can save us from the consequences, right? Well, I don't see how that's possible unless people hold bitcoin (and it holds its value) while the US economy/Ponzi comes crashing down. I really don't want to see that happen, to be honest. I also don't think bitcoin is going to help much, either. US citizens will probably start using Canadian dollars or Mexican pesos if and when the USD becomes worthless. That'll be a sad day for all American citizens.
I'll be holding bitcoin if I'm still alive when that happens, which I hope I'm not.
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