I guess the first idea is to raise the bitcoin market cap nearly trillion dollars, a market size that can control much of the world economy. For order to move the world economy they need more than the world's oil and want it to be in the hands of the top countries alone. Silently, several U.S. companies are also participating in Bitcoin mining with the intention of holding for longer periods of time. Backing bitcoin is a good proposal, but the value of the assets will still sometimes be a great feature in the future before the detailed backing of the US dollar is made
Topic: Coming Changes Bitcoin will be backing USA dollars (Read 1108 times)
Gold does not currently back the US dollar so there is no reason for the US government to suddenly need Bitcoins to back the US dollar. It will continue to be backed by the government.
I guess the first idea is to raise bitcoin's marketcap by about a trillion dollars, a market size that can control much of the world economy. In order to move the world economy they need more than the world's oil and want it to be in the hands of the top countries alone. Silently, several U.S. companies are also participating in Bitcoin mining with the intention of holding for longer periods of time. Backing bitcoin is a good proposal, but the value of the assets will still sometimes be a great feature in the future before the detailed backing of the US dollar is made.
Currently the US dollar is only backed by the government. It is not backed by gold, so I don’t think it will ever be backed by anything else.
That's what I heard. And that currencies are traded like stocks anyway so I guess it's OK to call them "floating".
People also point out that this is the reason America remains allies with Saudi Arabia and they help brought down Gaddafi. These countries trade oil for dollars and if that changes then that's going to affect the USD.
Perhaps in the near future BTC will become a reserve asset held by the Federal Reserve and other central banks (I doubt in the next 5 years, though). But even then that doesn't mean that USD is backed by BTC. It makes no sense for the government to peg the value of their fiat to BTC, especially from a monetary policy stance.
It's like saying gold backs the USD simply because the Fed holds a bit of gold in their reserves. But we know that's obviously false.
The dollar is constantly depreciating against Bitcoin. I think Bitcoin proved itself. However, it is now unreasonable to compare it with the currency of any state. I think it needs to be compared with metals like gold or oil.
Well, anything is possible, but I don't seem to see signs of gold failure (also because it has been holding for 5000 years ...), therefore it seems to me a baseless statement.
But it is clear that bitcoin can become the real gold of the future. But it will still take time.
But it is clear that bitcoin can become the real gold of the future. But it will still take time.
The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.
The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
Currently the US dollar is only backed by the government. It is not backed by gold, so I don’t think it will ever be backed by anything else.
That's what I heard. And that currencies are traded like stocks anyway so I guess it's OK to call them "floating".
People also point out that this is the reason America remains allies with Saudi Arabia and they help brought down Gaddafi. These countries trade oil for dollars and if that changes then that's going to affect the USD.
America's reaction to bitcoin doesn't just change and USA is still against with legality of bitcoin, even the legalities of all crypto currencies. It will not happen that USA dollars will be tokenized because of uncontrollable taxes and untrack transactions. it will changes the USA governments mind if someone shoe up how crypto or bitcoin use for good things
Loss of investment instruments would be difficult. Bitcoin expresses a value on its own without being bound to any commodity. It's my idea. I think that in the future bitcoin may be an argument. States should take measures for this in advance.
No available USA dollar support for bitcoin because United State become most country want banned bitcoin as legal digital currency payment, they not give chance for bitcoin as legal currency transaction payment and look bitcoin become their money competitor at the future and have chance to make USA dollar become die with bitcoin as digital currency payment.
if the dollar is supported by Bitcoin, why doesn't the US state accept bitcoin as a means of trading / trading commodities. The SEC has repeatedly rejected the bitcoin proposal. and today crypto is still a controversy there, I doubt if bitcoin supports the dollar. because until now bitcoin is running alone as a commodity and a safe asset store.
This is just a joke, a good joke. Today we have many currencies that are backed up by some piece of paper, that piece of paper is made by governments and banks. While rich get richer, many people don't have for basic stuff, it's a system that last for centuries. Crypto as crypto have a chance to change that system, unlike fiat currencies crypto can not be corrupted because of decentralization and security of the chains, thus you can't duplicate them. Now this headline is a joke, but I really believe that crypto will replace fiat.
if the dollar is supported by Bitcoin, why doesn't the US state accept bitcoin as a means of trading / trading commodities. The SEC has repeatedly rejected the bitcoin proposal. and today crypto is still a controversy there, I doubt if bitcoin supports the dollar. because until now bitcoin is running alone as a commodity and a safe asset store.
The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.
The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
What nonsense. US dollars will never be backed by Bitcoin. These are completely different payment instruments. And gold cannot lose its dominant value as a valuable metal. And you say that this will happen in just 1 year. You should write scripts for science fiction movies. The maximum that can happen this year is more acceptance of Bitcoin by people, and everything else will remain unchanged.The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
Dollar feels like maybe it won't be as strong as it is right now in the future. Right now European countries are building this systematic powerful way where they are actually making a profit for the first time ever in history, think about it, when was the last time a nation actually didn't had a deficit but a surplus?
Germany just did that, on the other side China has been doing that for a long time but since they have too many people, having 1 trillion debt for Germany versus 1 trillion for China is different whereas having 1 trillion profit in Germany versus china is different as well, even tho bad goes around the good doesn't even go around that much (CCP holds it). Long story short I am not entirely sure we should have bitcoin backing dollar, if anything Euro is a better option.
Germany just did that, on the other side China has been doing that for a long time but since they have too many people, having 1 trillion debt for Germany versus 1 trillion for China is different whereas having 1 trillion profit in Germany versus china is different as well, even tho bad goes around the good doesn't even go around that much (CCP holds it). Long story short I am not entirely sure we should have bitcoin backing dollar, if anything Euro is a better option.
Maybe euro then
...
Dollar feels like maybe it won't be as strong as it is right now in the future. Right now European countries are building this systematic powerful way where they are actually making a profit for the first time ever in history, think about it, when was the last time a nation actually didn't had a deficit but a surplus?
Germany just did that, on the other side China has been doing that for a long time but since they have too many people, having 1 trillion debt for Germany versus 1 trillion for China is different whereas having 1 trillion profit in Germany versus china is different as well, even tho bad goes around the good doesn't even go around that much (CCP holds it). Long story short I am not entirely sure we should have bitcoin backing dollar, if anything Euro is a better option.
Germany just did that, on the other side China has been doing that for a long time but since they have too many people, having 1 trillion debt for Germany versus 1 trillion for China is different whereas having 1 trillion profit in Germany versus china is different as well, even tho bad goes around the good doesn't even go around that much (CCP holds it). Long story short I am not entirely sure we should have bitcoin backing dollar, if anything Euro is a better option.
The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.
The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
What nonsense. US dollars will never be backed by Bitcoin. These are completely different payment instruments. And gold cannot lose its dominant value as a valuable metal. And you say that this will happen in just 1 year. You should write scripts for science fiction movies. The maximum that can happen this year is more acceptance of Bitcoin by people, and everything else will remain unchanged. The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
Gold will not crash with central banks pumping ridiculous amounts of their freshly printed phony moneys into it.
I actually started to like Gold because it's in fact doing the same thing as Bitcoin does (in some areas just not as convenient) before Bitcoin even did it, and it actually serves multiple purposes as metal. It's hard to not like something that has been proven and 'stress tested' for thousands of years and still serves its purpose in today's world.
That being said, I find it hard to believe that the USD will be backed by anything again. On top of that, it's more likely to see a Gold standard rather than a Bitcoin standard because of how much countries already hold of it. You don't want countries to start stacking up Bitcoin. It's only giving them more incentive to exercise control over the network.
I actually started to like Gold because it's in fact doing the same thing as Bitcoin does (in some areas just not as convenient) before Bitcoin even did it, and it actually serves multiple purposes as metal. It's hard to not like something that has been proven and 'stress tested' for thousands of years and still serves its purpose in today's world.
That being said, I find it hard to believe that the USD will be backed by anything again. On top of that, it's more likely to see a Gold standard rather than a Bitcoin standard because of how much countries already hold of it. You don't want countries to start stacking up Bitcoin. It's only giving them more incentive to exercise control over the network.
I really like your points. I'm also a big gold fan when it comes to its intrinsic value of long term store of value. However when being on my quest of trying to buy gold coins, I was shocked of the many ways to forge them. Without being an expert to gold, I much prefer the safety of a valid tx... (Yeah I really said that
)
Currently the US dollar is only backed by the government. It is not backed by gold, so I don’t think it will ever be backed by anything else.
The OP is based on nothing. No fundamentals or anything. Just wishful thinking.
The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.
The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
Where did you get your finding? Is it an expectation or an idea that is already being nursed?.The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
Gold has proven to have maintained efficiency in growth for decades. Its is not really a good investment for me, but a good store of value.
Now talking about bitcoin backing USD, it is totally impossible. Why won't it back Yuan? The Chinese control over bitcoin won't make it happen because it will make it look as though China is controlling the USD. And America will never allow such influence on their currency.
Jump to: