Topic: Is trust in USD finished? (Read 484 times)

Let us not panic after such news Because we must be sure that bitcoin will experience a very fast movement every time.So it is necessary to have patience in realizing it.

Yup! Dollar can not be replace by bitcoin for now I really think it is too early to adapt bitcoin and many people that I have talk too doesn't have any idea about bitcoin they think that it is just a thing so you can earn money, there are a lot to discuss about it and knowledge to gain with bitcoin for people to really adapt it, and USD is a well known usable thing for transaction even in other countries USD will not diminish into nothing.

The trust over USD is found, that won't decrease in a short or long as that's the one which governs the economy. Recent days the value of usd has been declining. Just based on that, users might be thinking that USD is finished. Maybe when cryptocurrency becomes more popular the value decrease might continue for a longer time period.

Bitcoin is absolutely not replacing the USD in the next few decades. The gap of usage between the two is simply insurmountable. The USD is not going anywhere and it is not going to be declared a fraud.

this is very good, this is the value of the bitcoin currency that many later on most of the people in this world including me, bitcoin currency is not inedible inflation the price of goods is very profitable to have and to place invest in the future, the currency that never monopolized by a country.

The USD aint printing sht but the US gov is breaking its fucking neck to inject more fiat into the system; there are benevolent and sinister reason for doing this. just like bitcoin, through user error fiat leaves circulation (fires, torn bills, etc). so new bills have to be inserted into the supply to cover the fiat destroyed, or the supply would dwindle and the value would artificially deflate.


govs also actually need to be able to inflate and deflate the supply at will. its important that a gov can keep a handle on its value; the wealth and security of all its citizens rests on this.

but blockchain technology will be the backbone of digital finance. just not all finance.

Not finished. Many aspects still using this currency in huge amount in huge business also many country use this currency as a parameter how develop the country is (gdp), dont forget many people only know bitcoin but don't want get involved or using bitcoin,they still believe and have high expectation in usd or other fiat currency. CMIIW

The USD will be one of the global reserve currencies of this world, until the fiat system collapse and Bitcoin can scale to handle such a volume of transactions. < not even sure if this is possible anymore > I think most of these governments will be going cashless soon and it will be replaced with private Blockchain technologies.

I think the thing holding them back is scaling and finding the technology that would handle such traffic and also educating the consumers. As soon as scaling is sorted out, more regulation will be passed to pave the way for a cashless society. 

I don't know about the other guy but as long as you are not living in the past, then you are wrong. Gold reserve is a thing of the past. If you haven't read about the Nixon Shock, then I suggest that you go ahead and do a quick search for it. In 1970s, Richard Nixon removed the requirement for gold reserve for people to print money. Nowadays, a lot of countries have tons of debts in major countries so they are left with no choice but to print money continuously. As you might probably notice, literally all of the goods and services (or simply commodities) have a rising price. You can often hear people saying that things are now more expensive than ever but the truth is, it's our money that has a problem. Since there's no more requirement for printing dollars or any other currency, the government can just print as much money as they want and never have to worry about it. And that simple action inflates our money. There's a lot of new money coming in, thus the value of it decreases.

So is the trust for USD finished? I want to say it "should" be finished right after the Nixon Shock but at that time they have no other choice but to continue using it since there was no other alternative for it. Now, we have bitcoins, and it's time for people to wake up to this truth that we shouldn't trust our fiat money as much as we are doing so right now.

Why would you say trust in USD is finished? Fact is, USD is still far more trusted worldwide than Bitcoin. I have no information that pertains to the United States printing cash like no tomorrow, but I'm fairly sure they know what they're doing. The USD has been doing pretty well for months now.

That being said, I trust Bitcoin as well, despite all the FUD. You don't have to be against Bitcoin to trust fiat. They both have their pros.

Every country i think has rule when they can print their paper money.
Its not that easy mate. They should calculate many aspect in economy section before doing it.
It also happen to USD, so that reason is not right as standars.

Until 1960, the United States had kept every dollar against gold in the central bank. Since 1971  gold wasn't  kept and plenty of unrequited dollars were sold to the whole world. Currently, no country, including the United States, is satisfied with this situation. USD purchasing power has decreased by 97% since 1933, confidence in USD is already over. So, decantralized  digital money, which is not monopolized by any country, will start its era.

there is many people still doubt about bitcoin and they still hold USD because they can USD with free and they only use bitcoin in a limited place. but I don't think that trust in usd is finished because USD is still using as some adjustment for another fiat and its different than bitcoin which is only using in internet. but soon after many country is realize the benefits crypto currency especially bitcoin, I think they will use bitcoin too like what we did.

Bitcoin has more and more influence on banks and financial circles. They can no longer underestimate the impact of bitcoin. The traditional currency is bound to be hit, so it is still very optimistic about the future development of bitcoin.
 

The trust and distrust is a very thoughtful issue and it´s just a mix of feeling depending on whom you´ll ask. Tha facts are that USD still the primary coin for international market otherwise the US would be broken a long ago. The fact is that the US has the economics of all world using its currency as a pattern just like every token created right now will always revolve around bitcoin, no matter what, you may hate bitcoin or dollars but when it comes to reference of value you´ll go back to dollar and bitcoins liking or not.

Me too, America/USA started out as good idea.

It just got co-opted by greedy motherfuckers. (Who crucified Jesus?) (Think on that)

Bitcoin is going through a similar gestation. (Jesus did not have the puritty of mathematics)
Unlike the USA and the other corrupt motherfucker government which infest the planet.

Bitcoin has a truly original mathematical purity which cannot be corrupted.

Be aware how the corrupt greedy cunts governments are going to spread doubt about the mathematical purity of bitcoins.

Bitcoin is pure logic and truth..

Fuck government, fuck the greedy assholes!

I am very happy to see bitcoin as a powerful currency, now time to down usd value

any nation currency shouldn't be trusted that much , but let's face it USD is still one of the most trusted worldwide so can't see that people lost trust in it
but in small countries where local currencies suffered ( like my country ) the currency basically is kinda worthless now so USD may suffer that too oneday , the odds of that aren't great IMO but still there is a possibility

Yep you are right, the democracy has failed us Americans, Our forefathers did not even intend for this to happen, nor they probably think that the government would get corrupted, from the banks all the way to the white house.  Governments borrowing money from banks, and everything else is a disgrace.  you know they might get rid of fiat though, I can see a future without paper money.  Everything is gonna be digital one day and that is how they are gonna hide behind the mess they left.

to say that the USD shouldn't be a trusted currency is pure rubbish. You're saying this to the strongest world currency and pretty much THE global currency.
I'm all in about letting everyone know how crooked the US govt and Central Banks are, but let's not talk nonsense about the USD.
You say people are trying to creat doubt about bitcoin? let's be real, there is no way that BTC will replace the USD, let alone stop the govt from printing currency. This is coming from someone who wants to see Bitcoin replacing fiat currency in the near future.