Coming Changes Bitcoin will be backing USA dollars - page 3.

Shimmiry

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Quote from: drlukacs on December 27, 2019, 12:25:09 AM

Quote from: Polo7 on December 26, 2019, 01:01:29 PM

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

This is ridiculous. Although Bitcoin and Gold both have a limited supply, gold is a real asset and it helps quite a lot for human society now. And for Bitcoin, it's just a digital asset, its existence depends on the network and hard drive in your PC. and then, Bitcoin only has a high price because it is expected by many people and it can become a value at any time, because it really does not help our society.

Also, Gold isn't likely to crash easily just like that. Aside from the role it has even before the existence of any digital currency especially bitcoin, it doesn't change the fact that investors knew that Gold survived every apocalypse and made it through the present because of the convenience and usability it offers, being a real asset is Gold's strongest asset and that is something bitcoin cannot replace. So bitcoin backing US dollar doesn't seem to affect anything but US Dollar for it was backed by many from time to time.

Polo7

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Quote from: justdimin on January 01, 2020, 09:32:51 AM

If USA somehow managed to get rid of gold standard, they are not picking up something else for it. They got rid of gold standard barely and they have been getting out of hand sooo much ever since they did that, right now the gap is not even remotely close, so if they are not capable of working with a gold standard, how could they even potentially come close to anything else?

We are talking about a nation with over 20 TRILLION DOLLAR debt, how in the hell will they get that much bitcoin and back their own currency with it when they can't even do it without anything that backs it, they can't even print enough money to cover their own currency with the fear of huge inflation. So long story short, it is not happening, not bitcoin not gold not anything else, it is not happening. Dollar is only backed by the power of US government and that's it.

Debt is Good for currency but Bad Economy and for People!!

Anyways the Global government main Plan is with stable coins!
Bitcoin Will be just what Will backing up the fiat value fiat wich is tokenized.

justdimin

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If USA somehow managed to get rid of gold standard, they are not picking up something else for it. They got rid of gold standard barely and they have been getting out of hand sooo much ever since they did that, right now the gap is not even remotely close, so if they are not capable of working with a gold standard, how could they even potentially come close to anything else?

We are talking about a nation with over 20 TRILLION DOLLAR debt, how in the hell will they get that much bitcoin and back their own currency with it when they can't even do it without anything that backs it, they can't even print enough money to cover their own currency with the fear of huge inflation. So long story short, it is not happening, not bitcoin not gold not anything else, it is not happening. Dollar is only backed by the power of US government and that's it.

crwth

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You do know what Gold is, right? In terms of backing stuff with Gold, it's not applied anymore. There is no Gold Standard anymore, and in the United States, the last time they used it was 1971 [1]. It would seem ideal to have Bitcoin backed currencies because of the limited supply it could provide, but I'm Not Sure if everyone would agree.

Is there anything to support your claim?

luppecuppe

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Anybody look at the gold chart? Gold is already a very valuable mine. In the past, the gold reserve was checked before the Dollar was issued. So there was a link between gold and the dollar. After this bond was broken, the value of gold fell. Gold has started to be revalued. I think if the dollar supply is cut, gold will be much more valuable. Bitcoin may lose value if the current dollar for Bitcoin decreases otherwise.

Polo7

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When we talking about investment we cant be subjective we got to be more objective.

Nothing is permanent and nothing is safe or hedge!
Everything can change and will change!

Polo7

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Quote from: Harriti on December 30, 2019, 06:39:14 AM

Quote from: Polo7 on December 26, 2019, 01:01:29 PM

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

Why will gold crash? I have yet to find the causes that make gold worthless, it has existed for thousands of years and bitcoin has only existed for 10 years!
You are deluded by the fomo of bitcoin and the manipulation community. it makes your mind overshadowed and you cannot discern the truth. What do you think of Bitcoin when it could be an important factor that can replace gold? while it has no shape and it is just a piece of code in a blockchain system! when we lose the network, bitcoin will follow and it will be of no value! I totally disagree with your thoughts.

Coz there is no new investors anymore who is willing to invest into gold!
That's Why gold cant Stay Up for long

2020 year things will be revealed and real how they really are black is black and white is white!
No more hidden things Everything will be visible and everybody will see how the things are.

Harriti

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Quote from: Polo7 on December 26, 2019, 01:01:29 PM

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

Why will gold crash? I have yet to find the causes that make gold worthless, it has existed for thousands of years and bitcoin has only existed for 10 years!
You are deluded by the fomo of bitcoin and the manipulation community. it makes your mind overshadowed and you cannot discern the truth. What do you think of Bitcoin when it could be an important factor that can replace gold? while it has no shape and it is just a piece of code in a blockchain system! when we lose the network, bitcoin will follow and it will be of no value! I totally disagree with your thoughts.

Oneandpure

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Bitcoin need to be in politic part if want allowed become legal payment in many countries, for allowing bitcoin become legal currency depend on president's hand, if bitcoin never can help each president candidate when choose president maybe bitcoin become illegal payment currency transaction for long term, I think bitcoin have been support one of president candidate in United State to get allowed bitcoin as legal currency in United State.

Polo7

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Gold will fall 2020
Bitcoin will be new Gold.
And each dollar will be Backed by bitcoins.

The Central bank together imf fedrral reserve created Bitcoin coz their debt based currency have problems and Gold is Not backing currency long time ago.

The Fiat currency only backer is debt without debt no value!
But it cant be for long so They will slowly tokenize Fiat currency and it will be Backed by bitcoins.

Ethereum have Control over Fiat currency all Our Fiat currency will be run on ethereum and Bitcoin will be new Gold.

I cant explain it anymore clear Here!

TastyChillySauce00

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It's the other way around and wont change anytime near yet. I can't imagine USD being backed up by bitcoin, what does that thinking and reasoning comes from anyway. if there comes the time when USD being backed up by dollar i'm sure this USD is as good as having nothing. It just doesn't make sense to be honest. it'll make more sense if USD when the value dropped so hard will be supported by being backed up by petrol or such.

luppecuppe

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Gold is very important for the economy. Because states can collapse, but gold does not. Gold is a stateless exchange tool. So there is no guarantee of any government behind gold. The power of gold comes from itself. Bitcoin can be supplemented with gold. However, Bitcoin and gold have similar characteristics. Neither state has any state behind it.

Blitzboy

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Quote from: avikz on December 29, 2019, 08:45:15 AM

Buddy can you tell me the address of the weed store that you regularly visit? I have couple of friends who smoke weed and I would recommend that store to them. It seems to be very high quality one as it has transported you to a very different planet.

lol

I laughed out loud when reading your posts Grin

happily speaking, this guy is flying in the middle of the galaxy with a quality cigarette.
Regardless of any aspect or case, gold has always been the foundation of an economy that bitcoin cannot change, I'm not sure how long bitcoin can survive and grow but the value of gold is a period of thousands of years.

samuraijin

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Quote from: 1Referee on December 28, 2019, 08:35:47 AM

Quote from: samuraijin on December 28, 2019, 07:54:31 AM

because I am still thinking about the costs of bitcoin transactions and it seems rather difficult to make bitcoin as a digital currency especially as a micro payment tool, it is more worthy of becoming digital gold so that each transaction is really calculated by everyone before making a transaction, I am more supportive of concepts such as this

The cost of transactions isn't that high at all. I haven't paid more than $0.10 in fees in the last couple of months for a single output transaction. If you still think that's high, then there is Lightning that allows you to do micro transactions for fees like 1-2 satoshis. Instant settlement and with time huge adoption. What more can you wish for? Grin

Most of the people complaining about fees very likely use wallet clients still using the legacy address format. If you use a wallet client that supports bech32 Segwit, your transaction fees will significantly reduce compared to the fees you pay for legacy transactions. Electrum is my preferred SPV desktop and mobile wallet client. If I'm not mistaken, they were the first client to support native Segwit.

yes I know about that lightning network but unfortunately there are only a few wallets that are not yet known and used by many people and the features inside are incomplete, such as blockchain and coinbase wallets as we know they have more users, my hope is that these two companies use lighting transactions might look great, I'm just waiting for the next adoption in the future

avikz

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Quote from: Polo7 on December 26, 2019, 01:01:29 PM

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

Buddy can you tell me the address of the weed store that you regularly visit? I have couple of friends who smoke weed and I would recommend that store to them. It seems to be very high quality one as it has transported you to a very different planet.

If Gold crashes, the world economy will be shattered. Bitcoin can't save it!

naikturun

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gold will not fall and I am very sure that even if bitcoin dominates the next few years, gold and some other metals will remain.
well see your statement that bitcoin will be backed up by USD stating that usd will be replaced? this is a bit interesting considering the country is a bit against it.

Blitzboy

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Quote from: ultrloa on December 29, 2019, 06:03:35 AM

The one I see before is they have the same price range before but I don't think Bitcoin is enough for now to be compared to bitcoins since if we compare the adoption and most accumulation Bitcoin is nothing with gold although the profitability is more higher with bitcoins but it doesn't guarantee that it can defame gold on where it stand right now.

Exactly! If it were before, we have a absolutely basis for comparing bitcoin to gold, because it is too high value and is trusted by many people. But for now, bitcoin no longer has its place, nothing can guarantee it's value, on the contrary, gold is always a precious metal and it does not have any investment risk

ultrloa

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Quote from: Blitzboy on December 29, 2019, 03:47:54 AM

Quote from: henrybek3 on December 28, 2019, 06:17:18 PM

Some of what you say about Bitcoin is true, but there are things I disagree with.
USD can be used to support Bitcoin. But it is ridiculous to say that gold will collapse.
The dollar is already backed by Gold. The best scenario for Bitcoin would be supporting Gold. But I think the goal of bitcoin is to replace gold!

I don't see any relationship between bitcoin and gold, why are people comparing them constantly? Gold has and will never be replaced by any cryptocurrency, gold has many practical applications and even for the current electronics industry, without any reason for it being replaced, bitcoin cannot do that

The one I see before is they have the same price range before but I don't think Bitcoin is enough for now to be compared to bitcoins since if we compare the adoption and most accumulation Bitcoin is nothing with gold although the profitability is more higher with bitcoins but it doesn't guarantee that it can defame gold on where it stand right now.

Blitzboy

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Quote from: henrybek3 on December 28, 2019, 06:17:18 PM

Some of what you say about Bitcoin is true, but there are things I disagree with.
USD can be used to support Bitcoin. But it is ridiculous to say that gold will collapse.
The dollar is already backed by Gold. The best scenario for Bitcoin would be supporting Gold. But I think the goal of bitcoin is to replace gold!

I don't see any relationship between bitcoin and gold, why are people comparing them constantly? Gold has and will never be replaced by any cryptocurrency, gold has many practical applications and even for the current electronics industry, without any reason for it being replaced, bitcoin cannot do that

freedomgo

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What are you saying?

That's not gonna happen.. and bitcoin will never backed usd alone because it's not controlled by the government, its decentralized. \
and if ever it will be backed, it will not become as gold because bitcoin way more useful for our daily transactions than gold.

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