Topic: Every time a new Bitcoin Block is found, US prints $69 million!!! (Read 495 times)

It’s a welcome idea but something still tells me it won’t stand because even in this formed organization they will want to have a superior, China might be taking the lead here. Now should they try to create an alternative coin i feel the kind of decentralization that is supposed to happen to that coin will not be their, there will still be an iota of control by the top countries there same way we are seeing with cryptocurrency Altcoins. For spontaneity a coin like bitcoin is to be adopted but like we say they will want a way to still manipulate or control it.

I think the phrase “hedge against inflation” which is a strong attribute of bitcoin is seriously downplayed or say under rated. One thing have found is that on paper or public the dollar doesn’t looks like something that has problem but it’s devaluing seriously and this doesn’t only affects dollar alone, most of the world countries suffering economic crises are associated to the devaluation of the fiat currency. The bitcoin adoption rate of developing countries tells why it is just a matter of time before bitcoin is fully embraced as an alternative to fiat. Not a financial advice but regardless of the volatility I will definitely save up on bitcoin than hoard any fiat at the moment and this doesn’t even have to do with ROI.


I am ambitious about the growth or potential of bitcoin but a sat to a dollar (I mean current value though because dollar go devalue in future who knows) seems too ambitious and not something I am seeing in a near future. Because for this to happen it means we have a bitcoin at $100 million.

This is not the first time we have heard news about BRIC nations. They have come up with a handful of pronouncements without backing them with the needed actions. Having an alternative to the dollar is a welcome development because the dollarized global economy has become a burden to many economies. There is a need for an alternative global currency and this blockchain-based payment system is ideal for such international trade settlement. This innovation will assist not just BRIC nations but also developing nations that would have to scrabble for scarce dollars before engaging in international trade. I read that this policy will be discussed further during the BRICS summit in October. BRICS nations should talk less and do more because many nations have been enslaved by few currencies. Someone should also tell this organization to hasten up their actions.

Kind of like dogecoin and all those other altcoins that have some rate of inflation, even if the rate decreases over time?  Yeah, I wonder how those are going to fare years from now.

I'm always hearing about the US's debt and the devaluation of the dollar, but I'm curious how the US compares to other countries.  I don't think I've ever seen a data dump on any other country's debt or money printing before.  The latter might be a peculiar trait of the US economy and the Fed's idiocy, but every country has some amount of debt I believe.  Is the US at the head of the pack, so to speak?

US:    $34.4 trillion
China: $14.2 trillion
Japan: $13.2 trillion
UK:     $3.7 trillion

Your thread just came timely. BRICS group are planning to create a payment system using blockchain to reduce the dependence on dollar for international transactions.

It was crystal clear since that BRICS has targeted to lower the dependence on dollar so as to reduce the power of the US but the problem has always been which currency should they make as a central currency. Any country currency picked will have given that country extra power.

Let me not go off topic, can someone tell BRICS that bitcoin is here to solve there problems and they don’t need to create anything again.

Kind of like dogecoin and all those other altcoins that have some rate of inflation, even if the rate decreases over time?  Yeah, I wonder how those are going to fare years from now.  Then again, there's no guarantees about bitcoin either (though at this point it seems like nothing can kill it).  Both the USD and bitcoin have value because people agree that they do, and if you look at it that way I'd say bitcoin is on shakier ground since it doesn't have a superpower government's guarantee that the face value of a bank note is worth what it says--and yeah, I'm ignoring the debt issue and constant money supply increase here, but hopefully my point is taken.

I'm always hearing about the US's debt and the devaluation of the dollar, but I'm curious how the US compares to other countries.  I don't think I've ever seen a data dump on any other country's debt or money printing before.  The latter might be a peculiar trait of the US economy and the Fed's idiocy, but every country has some amount of debt I believe.  Is the US at the head of the pack, so to speak?

They can create their CBDCs that are helpful for them to control and trace their citizens' money flows better with their centralized CBDC blockchains. For citizens, it's not helpful and more like fearful as they will have more observing eyes and tools to trace their money flows.

CBDCs help those countries launch it by that mean but CBDCs can not help them to solve anything in their economy.

CBDCs help those countries launch it by that mean but CBDCs can not help them to solve anything in their economy.

See progress of some nations toward CBDCs.
https://cbdctracker.org/
https://cbdctalks.com/
https://www.atlanticcouncil.org/cbdctracker/

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here you're mashing countries under sanctions, at war, with sky high deficit, with civil wars, with nutty dictators beating and executing their people while financing terrorist cells and you think the world will magically accept it!
Besides, if they don't want to trade between them in their own currencies, why would they agree to trade in a common currency?  

Let's say if a country want to buy oil from another country then the selling country won't accept the buying country's fiat currency for the trade but it will accept USD for the purpose. That's one of the reasons why US dollar isn't losing its value.
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 Let's say if those BRICS nations made up their own crypto-currencies or CBDCS then and accept those for bi-literal trading

Then can you explain why the US dollar is absolutely thrashing other currencies in value despite this money priting?
Rupiah, euro, yen, ruble, even the yuan, they all lost value against the $, so, how will the $ loose value again?  

I'm always hearing about the US's debt and the devaluation of the dollar, but I'm curious how the US compares to other countries.  I don't think I've ever seen a data dump on any other country's debt or money printing before.  The latter might be a peculiar trait of the US economy and the Fed's idiocy, but every country has some amount of debt I believe.  Is the US at the head of the pack, so to speak?

As a matter of fact, one of the reasons why the debt is rising this fast is due to the high interest they have to pay on all the junk bonds they've sold.
On the other hand they can't lower interest rates yet without any achievement on the global level. If they do, the inflation will resume inside US then the international bond dump will resume just like pre-interest rate hikes (eg. China dumping $200+ billion of US Treasury Securities) which would weaken dollar more.

But, since this topic is mostly related to Bitcoin and US dollar so comparing other fiat won't be reliable. If US continues printing that much then surely in years US dollar will lose its value.

This is what a no-cap currency looks like. Printed non-stop and out of control.

P.S. This also highlights the importance of dedollarisation for the rest of the world, by the way.

Your thread just came timely. BRICS group are planning to create a payment system using blockchain to reduce the dependence on dollar for international transactions.

Problem is that this help is paid for by bonds and those bonds demand a 5% coupon right now, so they are getting deeper and deeper into this hole, especially when interest rates are still elevated. No idea if they will ever be able to reduce the steepening of the curve and make it more flat.

The reason they can keep issuing debt is because America always pays its bill - it always pays it interest on the debt. So no, "they won't mind not paying for it", they absolutely can't not pay for it. As soon as America stops "paying for it" people will lose all faith in the government's ability to honor debt, and people will stop buying the debt.

yeah true, by "pay its bills" I just meant paying the interest due. Obviously the US govt will never be able to pay back the actual debt, but they just have to stay ahead of the interest payments, which get bigger and bigger and bigger.

CBO projects this year interest payments will be $870 billion, surpassing the defense budget. Won't be long until the primary role of taxes is just going to be paying interest on the debt lol.

its more nuanced then that.
the bonds never need to be settled, they just roll them over into another 10 year bond, so they never need to 'always pay its bills'
they are in the game of 'interest only' payments

Every fiat currency will continue to depreciate, Bitcoin to raise against them and the US dollar is not an exception.

Soon it will be crystal clear that someday 1sat = $1 and even exceeds this while The discussion about why individuals should invest in bitcoin would become why countries need to invest in Bitcoin.

I definitely means something for the US govt. The reason they can keep issuing debt is because America always pays its bill - it always pays it interest on the debt. So no, "they won't mind not paying for it", they absolutely can't not pay for it. As soon as America stops "paying for it" people will lose all faith in the government's ability to honor debt, and people will stop buying the debt. At that point the only thing the US could do is print money to cover debt. Which would quickly debase the USD. Like how inflation got up to 10% a year or so ago, that might become the norm.

One reason the Fed needs to drop interest rates is because higher interest rates means the US govt has to pay higher rates on its debt. So part of the reason deficits are sky high lately is because interest payments on the massive US govt debt is high right now.

Anyway this is not a game the US can win. They will never pay down their debt, and with the interest they have to pay on their debt growing every year, they will never even be able to balance the budget again. Because of the amount of power and influence the US has over money, they can continue keeping this game going for a good while longer probably, but eventually the dam is going to break and the debt and the payments on it are going to get so high that the US is going to be forced to print more money each year and debase the currency and the economy is going to go into a tailspin as things get more and more expensive against the dollar at an every expanding rate.

Bitcoiners will be fine, but people purely in the USD system are going to be screwed, as will the US. There is definitely a financial reckoning coming for the US. May take decades longer to hit, but it is coming. The financial path of the govt is simply not sustainable and eventually its going to break.