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Topic: Dollar coming to an end - page 2. (Read 34949 times)

hero member
Activity: 2702
Merit: 704
Bitcoin is GOD
August 24, 2015, 06:04:02 PM
Well, it depends what you mean by "end" If you mean the full disappearance of the dollar, then that’s not going to happen. If by “end” you mean the dollar losing its position as the sole reserve currency then that’s already underway.

However the dollar could prove to be more resilient than people think, the dollar has collapsed before, and its still there, a possible scenario is that after a dollar collapse, the Fed decides to have a gold backed dollar, and BAM the dollar is back again (obviously this is unlikely but still possible)


That scenario will probably not happen. Once the US dollar collapses, anybody who has gold or silver or crypto will be the only people with any more at all. Also, the fed is owned by foreign nations and those people probably would not want to loose the economic control, so gold backed currency will probably never again occur. 

True, but it is fun to imagine “what if scenarios”, don’t you think?
hero member
Activity: 826
Merit: 1000
August 24, 2015, 05:21:48 PM
Dollar was dead after 1940ish due to 3 on-going war. world 1,2, then vietnam etc.

the more wars, the less value the dollar has basically in simple terms. Its a matter of what we can reduce the worst situation possible, and maybe use bitcoin for that scenario or protect your own finance from it at this point.
sr. member
Activity: 448
Merit: 250
August 24, 2015, 03:08:41 PM
Well, it depends what you mean by "end" If you mean the full disappearance of the dollar, then that’s not going to happen. If by “end” you mean the dollar losing its position as the sole reserve currency then that’s already underway.

However the dollar could prove to be more resilient than people think, the dollar has collapsed before, and its still there, a possible scenario is that after a dollar collapse, the Fed decides to have a gold backed dollar, and BAM the dollar is back again (obviously this is unlikely but still possible)


That scenario will probably not happen. Once the US dollar collapses, anybody who has gold or silver or crypto will be the only people with any more at all. Also, the fed is owned by foreign nations and those people probably would not want to loose the economic control, so gold backed currency will probably never again occur. 
member
Activity: 84
Merit: 10
August 24, 2015, 02:49:17 PM
Yea I think the dollar and other fiat currencies have still got a long life ahead, though I think something like the dollar could collapse or lose a lot of its value eventually.

Yes, I agree. The economy of today is not very stable. I am not going to say how much will it cost the dollar over time.
hero member
Activity: 2702
Merit: 704
Bitcoin is GOD
August 24, 2015, 03:41:53 AM
Well, it depends what you mean by "end" If you mean the full disappearance of the dollar, then that’s not going to happen. If by “end” you mean the dollar losing its position as the sole reserve currency then that’s already underway.

However the dollar could prove to be more resilient than people think, the dollar has collapsed before, and its still there, a possible scenario is that after a dollar collapse, the Fed decides to have a gold backed dollar, and BAM the dollar is back again (obviously this is unlikely but still possible)
hero member
Activity: 994
Merit: 1000
August 24, 2015, 01:27:34 AM
maybe dollar is inflating once again you know
but it won't come to an end though there are a lot
of currency less worth than a dollar like my currency here in
Philippines
That's just a hype , no currency especially dollar is going down

you might believe that the dollar is indesstructible because of major mass adoption,but the only reason dollar has value is because it is petrodollar. Petrodollar is the currency used to buy petrol, petrol cannot be bought in any other currency except petrodollar, and I am talking on a macro level, when countries are trading and buying petrol. Once its not the currency to buy the fuel, it will be doomed and they are already in massive debt.
legendary
Activity: 3290
Merit: 1901
Shuffle.com
August 22, 2015, 11:44:56 PM
maybe dollar is inflating once again you know
but it won't come to an end though there are a lot
of currency less worth than a dollar like my currency here in
Philippines
legendary
Activity: 938
Merit: 1000
BTC | LTC | XLM | VEN | ARDR
August 22, 2015, 10:49:13 AM
I don't have any dollars so I don't care. All I got are cryptos!

How do you live what do you eat? How do you pay property tax? What about your internet and other expenses?

I`m sure you must hold atleast basic amounts of fiat.

Getting around fiat 100% is just not possible yet .

unless you still live under your parents, and they pay everything for you and you can pay for your thing, with crypto directly, it should work i guess

but there was a guy on bitcointalk (Edward his nick, i think?) that get rid of his card and he is using 100% bitcoin

Yea but you still need to change your BTC from time to time back to fiat, to pay for property tax.

Maybe you can avoid income tax and other taxes but not property tax. And what about phone bill, internet bill, going out in the city to eat, i mean bitcoin is not that popular yet, to be accepted anywhere.

I cant even go to my local betting house to place a football bet with bitcoin here. It's sad, but i hope bitcoin will spread faster!

For a full member I'd expect more Smiley You can pay ANY bill including property tax and such using services like Bitwa.la or Bitbill.nl, works perfectly. Allthough I never pay any government outfit like this Smiley
newbie
Activity: 42
Merit: 0
August 22, 2015, 10:46:13 AM
I think the arrival and using of BTC replaces many currencies like dollars..!!
sr. member
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
June 28, 2015, 04:31:56 AM
I don't have any dollars so I don't care. All I got are cryptos!

How do you live what do you eat? How do you pay property tax? What about your internet and other expenses?

I`m sure you must hold atleast basic amounts of fiat.

Getting around fiat 100% is just not possible yet .

unless you still live under your parents, and they pay everything for you and you can pay for your thing, with crypto directly, it should work i guess

but there was a guy on bitcointalk (Edward his nick, i think?) that get rid of his card and he is using 100% bitcoin

Yea but you still need to change your BTC from time to time back to fiat, to pay for property tax.

Maybe you can avoid income tax and other taxes but not property tax. And what about phone bill, internet bill, going out in the city to eat, i mean bitcoin is not that popular yet, to be accepted anywhere.

I cant even go to my local betting house to place a football bet with bitcoin here. It's sad, but i hope bitcoin will spread faster!
legendary
Activity: 3248
Merit: 1070
June 28, 2015, 04:15:15 AM
I don't have any dollars so I don't care. All I got are cryptos!

How do you live what do you eat? How do you pay property tax? What about your internet and other expenses?

I`m sure you must hold atleast basic amounts of fiat.

Getting around fiat 100% is just not possible yet .

unless you still live under your parents, and they pay everything for you and you can pay for your thing, with crypto directly, it should work i guess

but there was a guy on bitcointalk (Edward his nick, i think?) that get rid of his card and he is using 100% bitcoin
sr. member
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
June 28, 2015, 04:02:33 AM
I don't have any dollars so I don't care. All I got are cryptos!

How do you live what do you eat? How do you pay property tax? What about your internet and other expenses?

I`m sure you must hold atleast basic amounts of fiat.

Getting around fiat 100% is just not possible yet .
legendary
Activity: 1512
Merit: 1005
June 27, 2015, 09:47:00 AM
Yea I think the dollar and other fiat currencies have still got a long life ahead, though I think something like the dollar could collapse or lose a lot of its value eventually.

The Dollar has lost ~ 98% of it's value in a little over 100 years. If you consider the size of the USA debt, then "we" are in really serious trouble.

When are such 'debts' usually settled? The strongest country on Earth has the largest debt, and all that debt is mostly for the smoothness and creation of its efficient resources, the army, the defense system... If what makes it strong itself is making it weak, isn't that some shit?

It is not settled, the debt is continuously expanded. They 1) depress the interest rate 2) expand the money supply by continuously creating more debt 3) they sometimes expand the money supply directly with quantitative easing, and 4) they have a good run when they spend all the new money.
legendary
Activity: 1512
Merit: 1005
June 27, 2015, 09:42:00 AM
Dollar is affiliated with lots of imports and exports, it has a strong position in the economy right now and its is pretty much indestructible in the moment. It is terrible to assume that it can be destroyed so quickly, and so easily.... But nothing is impossible Wink
The bigger the bubble, the longer it takes to collapse. The dollar has had a hundred years of global number 1 currenncy status. Even the final stage of a bubble this big could outlast a lifetime. 
Or it could collapse tomorrow due to a seemingly small event.

I think the FED should buy some altcoins, it would help our investments alot. Perhaps bitcoins too, i would love to see 100000000% returns on my investment.

I dont understand why they buy stupid bonds that have no value Cheesy

They do it to depress the interest rate, and to expand the money volume in the form of debt.
sr. member
Activity: 252
Merit: 250
June 27, 2015, 09:29:40 AM
Isn't it really a joke that Dollars are coming to an end, No way my nears and dears. Dollars owned by the United States of America and it will not fell down too cheaply to an end, this will lead to disaster impact on global market, US will squeeze the bones into sweats of global currency if they see any hazard coming closer to their Dollar currencies.
full member
Activity: 154
Merit: 100
June 27, 2015, 04:47:28 AM
The dollar could not be world reserve currency between tomorrow and whenever, so maybe one day.

As found on wikipedia, 'By the end of the 20th century, the United States dollar was considered the world's most dominant reserve currency, and the world's need for dollars has allowed the United States government as well as Americans to borrow at lower costs, granting them an advantage in excess of $100 billion per year.'

However, the U.S. dollar's status as a reserve currency, by increasing in value, hurts U.S. exporters!
full member
Activity: 196
Merit: 100
June 27, 2015, 04:11:23 AM
The value of dollar has depreciated A LOT in the past 100 years itself, so all the people defending that the dollar will never collapse are totally wrong. It will, definitely, and you will even be alive to watch it in crisis. The right moves and bitcoin might actually replace it. All bitcoin needs is supply and demand. Let's use it much more and grow it.
sr. member
Activity: 350
Merit: 250
June 27, 2015, 03:34:37 AM
Yea I think the dollar and other fiat currencies have still got a long life ahead, though I think something like the dollar could collapse or lose a lot of its value eventually.

The Dollar has lost ~ 98% of it's value in a little over 100 years. If you consider the size of the USA debt, then "we" are in really serious trouble.

When are such 'debts' usually settled? The strongest country on Earth has the largest debt, and all that debt is mostly for the smoothness and creation of its efficient resources, the army, the defense system... If what makes it strong itself is making it weak, isn't that some shit?
sr. member
Activity: 350
Merit: 250
June 27, 2015, 02:46:34 AM
Interesting article with a very surprising end (related to Bitcoin see last 2 paragraphs)

http://www.telegraph.co.uk/finance/comment/liamhalligan/10978178/The-dollars-70-year-dominance-is-coming-to-an-end.html



That's just pure speculation. If you were to estimate what happens to dollar in 70+ years, your estimate will be based on the assumption that things remain similar to the way they are right now, and you consider certain factors that are potentially gonna change over time.

But what about the zillion other factors that you have assumed to be the same? It's a pretty unfair speculation is all I'm trying to say.

Dollars are reserve currency for more than 50 years.The forces supporting dollar dominance are weakening. Technological change is undermining the dollar’s first-mover advantage. And,now China is making even faster progress than anticipated on renminbi internationalization but also points to challenges lying ahead.
https://deutscheawm.com
sr. member
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
June 26, 2015, 06:11:05 PM
Dollar is affiliated with lots of imports and exports, it has a strong position in the economy right now and its is pretty much indestructible in the moment. It is terrible to assume that it can be destroyed so quickly, and so easily.... But nothing is impossible Wink
The bigger the bubble, the longer it takes to collapse. The dollar has had a hundred years of global number 1 currenncy status. Even the final stage of a bubble this big could outlast a lifetime. 
Or it could collapse tomorrow due to a seemingly small event.

I think the FED should buy some altcoins, it would help our investments alot. Perhaps bitcoins too, i would love to see 100000000% returns on my investment.

I dont understand why they buy stupid bonds that have no value Cheesy
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