could bitcoin resolve the us debt | Bitcointalksearch.org

BillCoin

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Quote from: Sir_lagsalot on December 03, 2015, 04:24:16 PM

It could if the US invested enough in bitcoin. Bitcoin has got $1000 before, and if the US government wants to invest, more US citizens will join and bitcoin's price will go sky high. And yes, the US can obliterate their debt.

No, it won't make the price higher because the liquidity will still be low, also what you claiming here is that the US governments should be making up on their citizens and stealing their money, as it's the same thing.
You can't really solve the debt with bitcoin, it's only going to increase it and make the situation even much worse then it is now.
I believe that the US is going to give a fight against the debt by raising the inflation rate ,and at the same time lowering the interest rate.

amzad

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It is easy, when the growth reaches its limit (natural thing), the only way to overcome the underlying limit of the economic structure of a country is to go in debt (= doping).
Debt growth, which can generate a retrograde action: increased through debt repayment and debt repayment
Once the process is started, there is a twist, the only way to survive the system is to run faster and faster, or to fall any further.

hase0278

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Quote from: $66trillionusdebt on December 03, 2015, 02:33:30 PM

or even half of it or even 1/10 of it? ??

Probably bitcoin won't resolve the US debt after all, no government is heavily invested on it therefore they won't gain anything when btc price rises. At the same time they won't lose something when it dumps. For it to be solved by btc, they must be heavily invested onto bitcoin first or else btc can't help them. It might help them solve half of their debt maybe or 1/10th of it. At least that is better than nothing. Probably they won't even try considering to invest into bitcoin.

CryptoGeneral

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I don't know. Why should the governement try to make use of bitcoin for that matter? I think most countrys are able to declare their debt as null and void. But this has some serious drawbacks, therefore it gets avoided.

Gozie51

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Is there really any visibility in this given the amount of bitcoin in circulation and number of users and comparing the debt level.
Meanwhile, the US government has not really been keen about bitcoin. People have to believe in a thing before they start looking for possibilities therein.

AtheistAKASaneBrain

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Even if Bitcoin could solve the debt problem, there's nothing that can avoid a big crash.. to adopt a new system the old one has to crash no matter what. There is no magic formula that will save us from the collapse, other than being part of an actual alternative system such as having your wealth on Bitcoin and gold.

LuckyYOU

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Quote from: newcoins1978 on December 10, 2015, 09:49:08 AM

Quote from: bitlancr on December 10, 2015, 09:26:10 AM

Quote from: Snail2 on December 10, 2015, 08:21:59 AM

Nothing can resolve the US debt without some principal changes in the whole US financial/banking system. In addition the US government and their owners wouldn't be very much interested in throwing away their "money printing industry" for something what they cannot manipulate at will.

Yo, this exactly. I don't even want to see bitcoin trying to save or even try to help the dollar. I think that will bring the value of bitcoin down when this happens. I would like to keep the dollar and the US debt separate from bitcoin.

Yeah maybe that it will go down, but bitcoin is bitcoin.
Yes that is true that with bitcoin you can just resolved it, because there is to much debts.
In another side is that with bitcoin you can solve almost anything.

I would like to know how you would see bitcoin solving the US debt? Are you aware of how much bitcoin is worth and how much debt they are in?

newcoins1978

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Quote from: bitlancr on December 10, 2015, 09:26:10 AM

Quote from: Snail2 on December 10, 2015, 08:21:59 AM

Nothing can resolve the US debt without some principal changes in the whole US financial/banking system. In addition the US government and their owners wouldn't be very much interested in throwing away their "money printing industry" for something what they cannot manipulate at will.

Yo, this exactly. I don't even want to see bitcoin trying to save or even try to help the dollar. I think that will bring the value of bitcoin down when this happens. I would like to keep the dollar and the US debt separate from bitcoin.

Yeah maybe that it will go down, but bitcoin is bitcoin.
Yes that is true that with bitcoin you can just resolved it, because there is to much debts.
In another side is that with bitcoin you can solve almost anything.

bitlancr

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Quote from: Snail2 on December 10, 2015, 08:21:59 AM

Nothing can resolve the US debt without some principal changes in the whole US financial/banking system. In addition the US government and their owners wouldn't be very much interested in throwing away their "money printing industry" for something what they cannot manipulate at will.

Yo, this exactly. I don't even want to see bitcoin trying to save or even try to help the dollar. I think that will bring the value of bitcoin down when this happens. I would like to keep the dollar and the US debt separate from bitcoin.

Snail2

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Nothing can resolve the US debt without some principal changes in the whole US financial/banking system. In addition the US government and their owners wouldn't be very much interested in throwing away their "money printing industry" for something what they cannot manipulate at will.

jt byte

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Quote from: Decoded on December 09, 2015, 11:30:37 PM

It could if America invested enough money into it. Bitcoin can basically do anything. If you invested at the start of bitcoin, you could have increased your investment a thousandfold.

That might be true, but there are just to many debt in the US.
And there is always is debt in other countrys so doesn't matter actually, because people still survive untill now.

ultimatesky

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I don't think so. Even if it could I wouldn't want that to happen. Their government can solve their own shit at this point.
I don't want them dragging bitcoin into their debt.

Decoded

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It could if America invested enough money into it. Bitcoin can basically do anything. If you invested at the start of bitcoin, you could have increased your investment a thousandfold.

mcplums

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Quote from: WaterSupply on December 04, 2015, 07:27:39 PM

Hmmm

It is crazy that the USA is on quite unshaky ground. It really is smoke and mirrors and i do not think any person has a true idea of total debt. I think America is in quite a bit of trouble. It will be interesting as an outsider in Europe to see the whole thing come tumbling down, and eventually see what they do to keep afloat.

Europe has very similar problems.

fair_player

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Quote from: HarryKPeters on December 04, 2015, 06:39:32 AM

Yeah how would that be possible. The US governement starting speculation on bitcoin to reduce the debt.

I don't think the US tax payer would like that..

That would never happen!!

Newcoins2020

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I don't think bitcoin can resolve this debt that they have.

The bitcoin price is not nearly enough to save the US dollars. Even if it could, I wouldn't be okay with this.

OROBTC

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Quote from: $66trillionusdebt on December 03, 2015, 02:33:30 PM

or even half of it or even 1/10 of it? ??

FOFOA had an idea (specifically on gold, but probably would work re Bitcoin too).

The US could offer to BUY and and all gold (or BTC) for an arbitrary but very high price, say $5000 / oz (or BTC). That would become the floor price, it is likely that the entire world would then see the value of BTC and gold.

The price would then skyrocket.

At $55k (FOFOA is now suggesting $100k per oz) in NON-HYPERINFLATED US$, that would go a long way to reducing US debt. Same would probably work with Bitcoin.

virtualx

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Quote from: $66trillionusdebt on December 03, 2015, 02:33:30 PM

or even half of it or even 1/10 of it? ??

The US has debts to a lot of debts to a commercial company, the federal reserve, which has the monopoly on creating money. Only a small part of the debt are foreign nations, about 25%.

acroman08

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i thinks using btc wont be enough to pay the
debt of US, its just too big for btc to handle.
having so much debt is devastating it may have
little effect for now but in the long run every citizen
in US will feel the debt of their country.

zodiac3011

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I have seen a thread about bitcoin relating to US debt somewhere and I think that if US had bought BTC when the price is about 150-200 before the pump to 1000, they could have saved themselves a bit. However if they do that they may crash the whole bitcoin market

HeroCat

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Never, because the US debt is too large. BTC total amount in the world is a much less Wink

I can not understand how this debt can be so large Huh

WaterSupply

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Hmmm

It is crazy that the USA is on quite unshaky ground. It really is smoke and mirrors and i do not think any person has a true idea of total debt. I think America is in quite a bit of trouble. It will be interesting as an outsider in Europe to see the whole thing come tumbling down, and eventually see what they do to keep afloat.

Quote from: spazzdla on December 04, 2015, 04:16:39 PM

Quote from: WaterSupply on December 03, 2015, 07:39:16 PM

LOL is this a joke.

I heard the US debt is something like 13 TRILLION DOLLARS. The technology of bitcoin can certainly provide a new of doing things, but i know this is some sort of joke question.

It's more like 100 Trillion..... they hide the medi care, etc things they have to pay.. This is why shit got REAL shaky in 2008. The wealth of the planet knows the game is on the rocks.. they just want to make sure they can get the most wealth when the game falls apart.

spazzdla

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Quote from: mcplums on December 04, 2015, 07:52:57 AM

I think OP is on to something. If we enter hyperinflation then the debt will be inflated into nothing, which is 'resolved' in some sense.

Obviously this won't be resolved to the satisfaction of the creditors.

This is the plan realistically as it is the ONLY plan.

They have to find a way to have wages increase 10 fold though as to not totally F things up.. maybe even 100x.. then if prices jump 100x the debt is nothing.

The savers get Fed but keynesian economics is about fucking savers to help the greedy ones.

spazzdla

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Quote from: WaterSupply on December 03, 2015, 07:39:16 PM

LOL is this a joke.

I heard the US debt is something like 13 TRILLION DOLLARS. The technology of bitcoin can certainly provide a new of doing things, but i know this is some sort of joke question.

It's more like 100 Trillion..... they hide the medi care, etc things they have to pay.. This is why shit got REAL shaky in 2008. The wealth of the planet knows the game is on the rocks.. they just want to make sure they can get the most wealth when the game falls apart.

spirit of btc

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Bitcoin can resolve anything and everything, but only if US government starts investing in bitcoin they can resolve their debts. Their debts may be in any amount but if they start investing in bitcoin the prices will go up.

Slark

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US debt at this point is so big that even whole 21 million of Bitcoins won't resolve it. If you think that government speculation of bitcoin will help resolve US debt by even 1% you are either overly optimistic or have no idea how big are numbers we are talking about here. Not to mention that US government won't probably risk involving in bitcoin directly any time soon.

HarryKPeters

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Quote from: mcplums on December 04, 2015, 07:52:57 AM

I think OP is on to something. If we enter hyperinflation then the debt will be inflated into nothing, which is 'resolved' in some sense.

Obviously this won't be resolved to the satisfaction of the creditors.

I think you mean debtors, and no controlling the inflation is not the solution, just part of it.

The expenses of all those Bush wars just cost to much money. They should cut down on that right now and start decreasing their debt.

mcplums

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I think OP is on to something. If we enter hyperinflation then the debt will be inflated into nothing, which is 'resolved' in some sense.

Obviously this won't be resolved to the satisfaction of the creditors.

mcplums

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Quote from: Rubberduckie on December 03, 2015, 10:58:43 PM

http://www.usdebtclock.org/

If you have OCD be careful with that link lol (numbers everywhere)
some scary info of just how screwed we are then I think the OP
can answer the question himself.

This link is amazing thanks for sharing

HarryKPeters

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Yeah how would that be possible. The US governement starting speculation on bitcoin to reduce the debt.

I don't think the US tax payer would like that..

Mickeyb

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Quote from: Iceborn on December 04, 2015, 06:21:44 AM

I can't see how this would be possible.

You can't replace the dollar by bitcoin, I don't think bitcoin is not nearly enough worth for it to be able to pay of all the debts.

Yes, I really don't see how this would be possible apart that US government invests in Bitcoin heavily and that Bitcoin skyrockets to $10 millions a coin. This would be the only possible way in my opinion! Cheesy

Iceborn

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I can't see how this would be possible.

You can't replace the dollar by bitcoin, I don't think bitcoin is not nearly enough worth for it to be able to pay of all the debts.

hocus pocus

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No. Only mathematicians can do. Economy is a mathematical problem.

USB-S

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Quote from: Amph on December 04, 2015, 05:59:21 AM

Quote from: johnyj on December 03, 2015, 10:54:58 PM

The debt is an illusion, there is no debt when central bank can print money at will: All the debt is owed to banks, but banks don't really need the repayment, when they need money, they just print as they see fit

However, banks will never do a debt forgiven, so you have higher and higher national debt, this is to make sure people trust the value of fiat currency. You can imagine, if all the debt can be forgiven (as they should), then people will all take unlimited loans and spend, no one is going to work, immediately create hyperinflation and destroy the value of fiat currency. Debt is the driven power for the society

thinking about it they can simply extinguish all debts via electronic way, with a simple erase, simple click

and even in the remote case that bitcoin can suck all the fiat value, they can simple print more and have again their amount

Yea, but erasing the debt wouldn't bring in the profit. Banks are money making machines, which only think about how to increase their profit. They know the system is flawed, but the flaws are making them mad dough.

Somekind of digital token will erase fiat, but not in the near future, because governments want and have extreme amounts of control and power and donating that power away would be a pretty tough process. However it'll happen if we give it enough time.

Amph

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Quote from: johnyj on December 03, 2015, 10:54:58 PM

The debt is an illusion, there is no debt when central bank can print money at will: All the debt is owed to banks, but banks don't really need the repayment, when they need money, they just print as they see fit

However, banks will never do a debt forgiven, so you have higher and higher national debt, this is to make sure people trust the value of fiat currency. You can imagine, if all the debt can be forgiven (as they should), then people will all take unlimited loans and spend, no one is going to work, immediately create hyperinflation and destroy the value of fiat currency. Debt is the driven power for the society

thinking about it they can simply extinguish all debts via electronic way, with a simple erase, simple click

and even in the remote case that bitcoin can suck all the fiat value, they can simple print more and have again their amount

Zaun

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Really can bitcoin do it? I mean how?
Maybe america have debt, but I am just sure in the future everything is gona be oke.
I don't mind if there is debt in my country as long I am a live and happy what I have.

Pleas all country just destroy your money and replace it to Bitcoin, best solution ever Tongue

bitcoinstudent19212

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If anything, adoption of Bitcoin would make their debt worse. One of the reasons why government loves having their central bank institutions is that they can print money over time and basically inflate their debt away. So whilst in the fiat world debt is relatively decreasing over time - tending towards 0, in the world of bitcoin there is mild deflation throughout. This means the value of their debt is relatively increasing every minute of time that passes. This will make it much worse for them! Except if they somehow negotiated a deflation linked payment plan with their creditors.

LuckyYOU

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I don't think so. If they would print more money, that would solve all of their debts, but of course they won't

They would rather see their country go to shit rather than getting it out of it.

n2004al

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Quote from: $66trillionusdebt on December 03, 2015, 02:33:30 PM

or even half of it or even 1/10 of it? ??

Bitcoin only can increase the United States debt or the debt of every other country which would have such kind of problems. Or will create such problems for those countries which will try to use it to decrease their actual debt. For the simple reason that bitcoin is owned by no one. Nor from United States and neither from no one other country. So, to be owned the needed amount to liquidate the debt of the United States (if it will be possible because must be seen the capital market of bitcoin and the amount of debt of United States) and to be used to eliminate the debt, first, the bitcoin must be bought (or created, mining). Both actions have costs. Maybe bigger the first way and less the second way but yet are costs. Any kind of profits. So we will see the opposite of the desired action. The debt will became greater. Will be added even the money needed to fulfill the above actions. Wink

CryptoBjorn

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I am not sure if it wil but I just heard that with Bitcoin you can resolve anything.

Only that people need to believe also in bitcoin.

I bet that when dollar or euro will be in really bad shape like really bad. Than bitcoin will be there savior.

hetecon

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this question is not even funyn how much dumb it is.

Pab

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Quote from: johnyj on December 03, 2015, 10:54:58 PM

The debt is an illusion, there is no debt when central bank can print money at will: All the debt is owed to banks, but banks don't really need the repayment, when they need money, they just print as they see fit

However, banks will never do a debt forgiven, so you have higher and higher national debt, this is to make sure people trust the value of fiat currency. You can imagine, if all the debt can be forgiven (as they should), then people will all take unlimited loans and spend, no one is going to work, immediately create hyperinflation and destroy the value of fiat currency. Debt is the driven power for the society

Yes,debt money,virtual blood for bank zombies,thaycant live without it,just more and more

Not possible,system has to be changed
over13 trilions is only USA,there are others countrys also

Rubberduckie

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http://www.usdebtclock.org/

If you have OCD be careful with that link lol (numbers everywhere)
some scary info of just how screwed we are then I think the OP
can answer the question himself.

johnyj

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Beyond Imagination

The debt is an illusion, there is no debt when central bank can print money at will: All the debt is owed to banks, but banks don't really need the repayment, when they need money, they just print as they see fit

However, banks will never do a debt forgiven, so you have higher and higher national debt, this is to make sure people trust the value of fiat currency. You can imagine, if all the debt can be forgiven (as they should), then people will all take unlimited loans and spend, no one is going to work, immediately create hyperinflation and destroy the value of fiat currency. Debt is the driven power for the society

WaterSupply

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LOL is this a joke.

I heard the US debt is something like 13 TRILLION DOLLARS. The technology of bitcoin can certainly provide a new of doing things, but i know this is some sort of joke question.

Meuh6879

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Bitcoin can resolve everything : https://www.youtube.com/watch?v=joITmEr4SjY

Sir_lagsalot

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It could if the US invested enough in bitcoin. Bitcoin has got $1000 before, and if the US government wants to invest, more US citizens will join and bitcoin's price will go sky high. And yes, the US can obliterate their debt.

$66trillionusdebt

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or even half of it or even 1/10 of it? ??

Topic: could bitcoin resolve the us debt (Read 2225 times)