Just a reminder: How shitty US Dollar could be Vs Bitcoin

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Quote from: shield132 on October 25, 2024, 10:21:39 AM

Quote from: Churchillvv on October 24, 2024, 07:56:46 PM

A quick search on Google will say this below on the purchasing power of dollar over decades

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Since 1972, it has fallen by 99 percent against gold and lost 90 percent of purchasing power of real goods and services.

Imagine if US Dollar were a cryptocurrency, it would have been one of the most shitcoins ever.

This is just reminder that bitcoin is a paradigm that has lead the would to a new way of doing things, and a solution to both financial crisis of 2007/2008 and Double spending. It has proven to have performed even high than Gold in recent times and is probably going to be top #1 of all cryptocurrency for as long as it keeps existing.

Bitcoin is only a decade and five years old, the interest it has yeild and it's growth over the years both in price and community support has shown its uniqueness and should be taken as a serious investment. Don't trust a currency that depreciates over the years with your investment rather take advantage of bitcoin volatility today.

You can't compare USD to Bitcoin because one is a physical currency, printed and managed by the FED that's worldwide accepted and also a world reserve currency. Bitcoin is a virtual cryptocurrency with an innovation called blockchain technologies, is p2p, virtual and is based on absolutely different systems. Comparing the dollar to Bitcoin is comparing apples to oranges.

Bitcoin is also in limited quantity. There are trillions of dollars printed and in circulation around the world but there are only 19.8 million bitcoins mined where half of them are lost forever and we are left with even fewer coins.

It's true that the dollar and Bitcoin are fundamentally different, but this comparison can also be instructive. The dollar is a traditional currency, but it is subject to inflation and the monetary policy of the Fed. On the other hand, Bitcoin, while limited in supply, is also subject to its own volatility and risks such as hacks or regulation. Claiming that Bitcoin is a hedge against inflation is debatable, as its history shows strong price fluctuations. Therefore, it is essential to consider not only the differences but also the economic implications of each.

ImThour

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I would never compare US Dollar with a memecoin, it's being used by millions in the world and also a universal currency, I have never seen anyone talk about Rubble or Rupees, always dollar as it's the international standard. Things might change in the future, but currently it's leading and I do not care how much power it lost, it's still very valuable.

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Quote from: ? on October 25, 2024, 11:00:55 AM

It's true that the dollar and Bitcoin are fundamentally different, but this comparison can also be instructive. The dollar is a traditional currency, but it is subject to inflation and the monetary policy of the Fed. On the other hand, Bitcoin, while limited in supply, is also subject to its own volatility and risks such as hacks or regulation. Claiming that Bitcoin is a hedge against inflation is debatable, as its history shows strong price fluctuations. Therefore, it is essential to consider not only the differences but also the economic implications of each.

I terms of security, for sure the dollar an be said to be more secured, not because it is not subject to hack or other visis, but because it is government own and the central bank can print as much dollars notes as possible, unlike bitcoin that have a limited supply, but yes also you have a valid point on the view that both dollar a d bitcoin have their own unique differences but in all we have to make one thing very clear, bitcoin and dollar are two incompatible comperable viraibles object that exist a in the same financial environment and their act as alternative to each other and not a replacement for each for whatever reason.

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Quote from: hugeblack on October 25, 2024, 03:21:25 AM

Purchasing power calculation is meaningless since in 1972 it was very difficult to find someone with an annual income of more than $100,000 and today a good percentage of society can reach $100,000 annually with ease.

Also, the dollar has changed from being United States currency to world reserve, so we cannot compare 1972 dollar with today dollar.

Finally, these comparisons are useless. If I told you that Bitcoin is better than gold or stocks, this does not mean that gold, the dollar, or stocks are bad, but you must choose your investment wisely.

The ease of getting $100,000 Is higher than it was 1972 doesn't mean the variabilities are balanced.
The ease can not cover the rate of fall.

Bitcoin and dollar currently both satisfy different market
One is best as a store of value the latter as a medium of exchange.

Quote

understand that inflation might seem beneficial for the government, but it comes at a cost to the people. It drives up prices and erodes our purchasing power, making life more difficult for many.

Deflation might seem better to the people but it's a deficit to the economy
In the long run its going to collapse the economy and what's the benefit of having an higher worth of your money if there's no economy to spend it in.

Everything comes at a cost.

shield132

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Quote from: Churchillvv on October 24, 2024, 07:56:46 PM

A quick search on Google will say this below on the purchasing power of dollar over decades

Quote

Since 1972, it has fallen by 99 percent against gold and lost 90 percent of purchasing power of real goods and services.

Imagine if US Dollar were a cryptocurrency, it would have been one of the most shitcoins ever.

This is just reminder that bitcoin is a paradigm that has lead the would to a new way of doing things, and a solution to both financial crisis of 2007/2008 and Double spending. It has proven to have performed even high than Gold in recent times and is probably going to be top #1 of all cryptocurrency for as long as it keeps existing.

Bitcoin is only a decade and five years old, the interest it has yeild and it's growth over the years both in price and community support has shown its uniqueness and should be taken as a serious investment. Don't trust a currency that depreciates over the years with your investment rather take advantage of bitcoin volatility today.

You can't compare USD to Bitcoin because one is a physical currency, printed and managed by the FED that's worldwide accepted and also a world reserve currency. Bitcoin is a virtual cryptocurrency with an innovation called blockchain technologies, is p2p, virtual and is based on absolutely different systems. Comparing the dollar to Bitcoin is comparing apples to oranges.

Bitcoin is also in limited quantity. There are trillions of dollars printed and in circulation around the world but there are only 19.8 million bitcoins mined where half of them are lost forever and we are left with even fewer coins.

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Despite all that shitty thing that OP said and that all are true, USD still remains the world's chief reserve currency, hence adding stability and liquidity for international trade and economic security. Bitcoin's rise in value is stunning, yet it's equally noted for high volatility and speculative risks that may not be fitting for every investor. Diversification amongst assets, such as Bitcoin, with other stable assets including the USD, is done by many financial experts to balance growth potential with stability.

Bitcoin has shown promise in the way that it works as an inflation hedge, but it remains an emerging asset in respect of its utility and regulatory frameworks. Where Bitcoin hasn't quite equaled the unique value of the dollar yet is in its relative stability and broad acceptance in a global finance context, despite wider institutional adoption and new products such as ETFs. It's all about balance-while Bitcoin might be a formidable asset in any portfolio, relying wholly on it ignores some practical benefits of a currency such as the USD in the current world economy.

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Quote from: hugeblack on October 25, 2024, 04:41:10 AM

Quote from: hd49728 on October 25, 2024, 03:58:30 AM

If I have only 2 years left to live, it's hard for me to bet in Bitcoin even I know it is good for investment but with only 2 years, what will I do if Bitcoin falls 80% within next two years. So with this condition, I will choose gold.

You will also need cash out Bitcoin to be able to spend it and buy things, otherwise you may need to search for places that accept Bitcoin before you enjoy spending Bitcoin.

Some places do have the terminals to do so and cash it out, however, they are not as common and adopted for now, at least where I am Grin

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Quote from: Churchillvv on October 24, 2024, 07:56:46 PM

Bitcoin is only a decade and five years old, the interest it has yeild and it's growth over the years both in price and community support has shown its uniqueness and should be taken as a serious investment. Don't trust a currency that depreciates over the years with your investment rather take advantage of bitcoin volatility today.

Dollar is even better. Research more about fiat of each country in the world and see how inflationary governments of the countries are manipulating it in the same of helping the economy. Fiat is the biggest scam on earth. People from many countries hold USD because of the highly devaluing local currency. USD is not different but better than many of them. If the price of bitcoin fall, best to buy and hold it and you will not regret that.

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Quote from: hd49728 on October 25, 2024, 03:58:30 AM

If I have only 2 years left to live, it's hard for me to bet in Bitcoin even I know it is good for investment but with only 2 years, what will I do if Bitcoin falls 80% within next two years. So with this condition, I will choose gold.

You will also need cash out Bitcoin to be able to spend it and buy things, otherwise you may need to search for places that accept Bitcoin before you enjoy spending Bitcoin.

hd49728

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Quote from: hugeblack on October 25, 2024, 03:21:25 AM

Finally, these comparisons are useless. If I told you that Bitcoin is better than gold or stocks, this does not mean that gold, the dollar, or stocks are bad, but you must choose your investment wisely.

All things are risky and in investment, if anyone told you that an asset is zero risk and is a best investment asset, it's risky advice. Risk always there and comparing different assets, to say this one is better, is the best than others is very controversial and people will never agree with your comparison.

Because the best for me has to match many things I have, like available income, capital, social economic status, health status like age and how many years I have in rest of my life. It's easy to say what is best purely based on historic records and numbers but in practice of each person, there are more things to be included.

If I have only 2 years left to live, it's hard for me to bet in Bitcoin even I know it is good for investment but with only 2 years, what will I do if Bitcoin falls 80% within next two years. So with this condition, I will choose gold.

https://casebitcoin.com/charts#roi_chart

hugeblack

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Purchasing power calculation is meaningless since in 1972 it was very difficult to find someone with an annual income of more than $100,000 and today a good percentage of society can reach $100,000 annually with ease.

Also, the dollar has changed from being United States currency to world reserve, so we cannot compare 1972 dollar with today dollar.

Finally, these comparisons are useless. If I told you that Bitcoin is better than gold or stocks, this does not mean that gold, the dollar, or stocks are bad, but you must choose your investment wisely.

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Quote from: NotFuzzyWarm on October 24, 2024, 08:19:38 PM

I defy you to find one example of any economy that has had sustained deflation.

Any country that suffered deflation will try everything in order to grow their economy i.e. Japan. The price of real estate and car in Japan's rural areas is really cheap, no one want to live there, they also open for anyone who want to work in Japan.

Inflation is good to encourage people to spend their money and make the economy run, government don't like people who save their money instead of spend it. That's the government task to make their economy grow.

On the other hands, we as individual who want to get rich shouldn't hold fiat, instead we need to invest.

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Quote from: avikz on October 25, 2024, 12:54:47 AM

Quote from: Churchillvv on October 24, 2024, 07:56:46 PM

A quick search on Google will say this below on the purchasing power of dollar over decades

Quote

Since 1972, it has fallen by 99 percent against gold and lost 90 percent of purchasing power of real goods and services.

Imagine if US Dollar were a cryptocurrency, it would have been one of the most shitcoins ever.

This is just reminder that bitcoin is a paradigm that has lead the would to a new way of doing things, and a solution to both financial crisis of 2007/2008 and Double spending. It has proven to have performed even high than Gold in recent times and is probably going to be top #1 of all cryptocurrency for as long as it keeps existing.

Bitcoin is only a decade and five years old, the interest it has yeild and it's growth over the years both in price and community support has shown its uniqueness and should be taken as a serious investment. Don't trust a currency that depreciates over the years with your investment rather take advantage of bitcoin volatility today.

Why just US dollar? All fiat based currencies are falling in value. The purchasing power is decreasing for all of them! It's not only about USD. That's the basic nature of fiat currencies. That's why people should never make bank deposit for some small percentage of return which depreciates overtime.

That's why people used to buy Gold to protect their capital in earlier times. Gold is still a favorite amongst many of us. Bitcoin is extraordinary here. It has always shown a super strong performance since inception. So it's always a good choice to invest in Bitcoin and Gold as well. It has proven itself as more than just a passing trend and should be considered as a serious investment alternative.

BTC can be called digital gold, in my opinion.
A better version of it, though with it's unique features.
And, yeah, USD was called out simply as one of the biggest fiats out there.

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Quote from: Churchillvv on October 24, 2024, 07:56:46 PM

A quick search on Google will say this below on the purchasing power of dollar over decades

Quote

Since 1972, it has fallen by 99 percent against gold and lost 90 percent of purchasing power of real goods and services.

Imagine if US Dollar were a cryptocurrency, it would have been one of the most shitcoins ever.

This is just reminder that bitcoin is a paradigm that has lead the would to a new way of doing things, and a solution to both financial crisis of 2007/2008 and Double spending. It has proven to have performed even high than Gold in recent times and is probably going to be top #1 of all cryptocurrency for as long as it keeps existing.

Bitcoin is only a decade and five years old, the interest it has yeild and it's growth over the years both in price and community support has shown its uniqueness and should be taken as a serious investment. Don't trust a currency that depreciates over the years with your investment rather take advantage of bitcoin volatility today.

Why just US dollar? All fiat based currencies are falling in value. The purchasing power is decreasing for all of them! It's not only about USD. That's the basic nature of fiat currencies. That's why people should never make bank deposit for some small percentage of return which depreciates overtime.

That's why people used to buy Gold to protect their capital in earlier times. Gold is still a favorite amongst many of us. Bitcoin is extraordinary here. It has always shown a super strong performance since inception. So it's always a good choice to invest in Bitcoin and Gold as well. It has proven itself as more than just a passing trend and should be considered as a serious investment alternative.

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Quote from: Don Pedro Dinero on October 24, 2024, 10:47:54 PM

Quote from: Churchillvv on October 24, 2024, 07:56:46 PM

A quick search on Google will say this below on the purchasing power of dollar over decades

Quote

Since 1972, it has fallen by 99 percent against gold and lost 90 percent of purchasing power of real goods and services.

Imagine if US Dollar were a cryptocurrency, it would have been one of the most shitcoins ever.

A currency that loses 99% of its purchasing power vs. gold in 52 years? Think twice about what you say. There are shitcoins that lose that purchasing power in 52 days, not to mention those that lose it all and the value is 0, so there is no way the dollar would be the worst shitcoin. It is not for nothing that people from countries with weak currencies tend to buy dollars, because devaluation is much slower than in most countries on the planet.

Yeah, I agree.
It wouldn't be the last on the list, show me a shitcoin that would be alive for 52 years and still kicking due to everybody using it, for many cases Grin

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The dollar is as shitty as it can get but people somehow still like it a lot. They just can’t have enough of it. Maybe it is because the trade around the world still depends on the usd. Nearly every god damn business is keeping their books in usd. Bitcoin will never achieve that kind if worldwide adoption.

Maybe we should be happy with what we got instead of chasing the impossible dream… Bitcoin will never replace the dollar. It is physically impossible.

Yes bitcoin has far better purchasing power and it gets better and better unlike the dollar but that’s pretty much all about it. Some countries (like mine) don’t even acknowledge bitcoin as a currency. Here, you can’t use bitcoin as a currency because it is banned by the government. If you are going to buy a car, you can’t say I paid this man 1 btc for his car. This has zero meaning in the eyes of the government.

How can btc thrive in an environment like this?

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Quote from: Churchillvv on October 24, 2024, 07:56:46 PM

Imagine if US Dollar were a cryptocurrency, it would have been one of the most shitcoins ever.

I don't think so, because US Dollar is still the most used to the point that it is used as reserve currency and used by most countries. There are some countries fiat currency that the value is eaten up faster by inflation compared to USD.

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It has proven to have performed even high than Gold in recent times and is probably going to be top #1 of all cryptocurrency for as long as it keeps existing.

Bitcoin is already the number one cryptocurrency and nothing can change that. It is only if another coin can be created that will give 10x of what bitcoin is solving that bitcoin will not be the king of crypto, because altcoins are duplicate of bitcoin.

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Bitcoin is only a decade and five years old, the interest it has yeild and it's growth over the years both in price and community support has shown its uniqueness and should be taken as a serious investment. Don't trust a currency that depreciates over the years with your investment rather take advantage of bitcoin volatility today.

Any investment in fiat will always perform poorly compared to an investment in bitcoin because it will be affected by inflation. However one cannot do without fiat, and that is why it is good to have both bitcoin investment and traditional investment to enable over the hardship that is caused by inflation .

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As the economy Grows
Government prints more money trying to keep up with it
This brings about inflation and thus the depreciation of Fiat.
Inflation is preferred by the government because it encourages spending and they can tax more when money changes hands
Very lucrative
Not to mention it makes borrowing attractive and the economy is usually built on debt and loans.

So Government policy is always inflationary and Fiat would continuously fall as years goes by.
But they fall at different rate
Some fall faster than others.

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Quote from: Churchillvv on October 24, 2024, 07:56:46 PM

A quick search on Google will say this below on the purchasing power of dollar over decades

Quote

Since 1972, it has fallen by 99 percent against gold and lost 90 percent of purchasing power of real goods and services.

Imagine if US Dollar were a cryptocurrency, it would have been one of the most shitcoins ever.

A currency that loses 99% of its purchasing power vs. gold in 52 years? Think twice about what you say. There are shitcoins that lose that purchasing power in 52 days, not to mention those that lose it all and the value is 0, so there is no way the dollar would be the worst shitcoin. It is not for nothing that people from countries with weak currencies tend to buy dollars, because devaluation is much slower than in most countries on the planet.

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Quote from: SilverCryptoBullet on October 24, 2024, 09:12:53 PM

(....)
Fortunately it helps Bitcoin and satoshi to increase in value over time.
How is the 21 million bitcoin cap defined and enforced?
Satoshi value increases with time.
https://charts.bitbo.io/satoshi-per-dollar/

This is one of the reasons why a lot of people tend to just hold Bitcoin instead of some fiat currency, even other non us dollar currency. Especially if you are from a country where the fiat currency is losing its value, the best example of this was what happened during the COVID-19 pandemic, and after that pandemic, we saw a lot of volatility in most fiat currencies around the world especially if you compare it with Bitcoin.

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