One of the big reasons why Bitcoin will top $100,000 will be the fall of the value of the USD. That's to say, it's not Bitcoin changing in price. It's the dollar changing in value.
When the dollar falls against Bitcoin, it will mean the collapse of the dollar is imminent. And when it falls so badly that the Federal Reserve Bank collapses, think of all the poor people who will suddenly lose their Social Security.
We really need to put something in place that can prop the poor people up, who are depending on the dollar. There are a few things we can do, but it will take a group of us... just like it took several Devs and a whole bunch of advice from others to make Bitcoin what it is today.
Ofcourse. However the price of Bitcoin will only be more valuable if dollar falls 20% (for example) against Bitcoin without Bitcoin moving up or down...Bitcoin will only be 20% more valuable in this case. What could move Bitcoin up while dollars falls is if people are moving their funds from dollars to Bitcoin.
Dollars is actually supported by us, partly due to those who will suffer the consequences of its collapse. We actually need to build something secure and reliable (which idea has been sufficiently developed already) they can fall back on incase it collapses. However dollar will be supported until the "Red King" takes over. I think he could support and prevent its collapse.
Hey BADecker,
In regards to the bolded above, I think people/someone should be taking over from there... I mean someone should help support the dollar while I focus on Bitcoin. I want to use Bitcoin to help others and fund "my work"... It's a work that involves saving people. Dollar has been supported long enough without anyone supporting the one who supports it. I want to fund my work with profits I make from Bitcoin price increase. Not doing so could hinder the work which the CREATOR sent me to do.
It seems you understand dollar price movements fairly well, so why not support it with word of Wisdom? You can do that from anywhere. Just one truth about the fiat currency is enough to move it up. If you have so much on you, then a temporal support of dollar may be transfered to Red King (if they allow him) or other people considered by the world as qualified. But I can't guarantee its stability unless it's in the hand of the CREATOR who is likely not pleased with the way HE has been treated by the world especially people from Babylon. I'll indirectly support the dollar by prayer for the one/ones who will start supporting it. That will require total submission to the Will of the CREATOR by the new supporter, otherwise there may be problems. I will occasionally takeover the support of the fiat currency probably when I stop supporting Bitcoin price. This may depend on how humble the world (especially those from Babylon) becomes. If they continue hurting the one who currently support the dollar, he may choose to temporarily support other fiat currencies like Ruble without giving up on praying for those supporting the dollars.
I want to hear from you soon before I make this decision. No problem if replying me is not necessary... i will just start doing it.
I expect the qualified to takeover control and I will be praying for whoever they are or he/she is.
Meanwhile I'm also considering supporting both Bitcoin and dollar in the future at the same time without either Bitcoin or Dollar having issues as a result. I believe if we decide to stop everyone from buying Bitcoin for sometimes the price will still increase when the true value is revealed to people, without dollar losing value in their eyes unless they weaken the value themselves, for example by printing too much of it
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Last edited: 09:36am GMT, Nov 9 2022
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The major fiat currencies fell significantly few days ago. I was a bit worried what massive falls will cause when I gradually reduce the supports. This has been sorted out fairly well now. We will be witnesssing strange price movements of the fiat currencies. I will advice non-usd based economies who are quite dependent on import (esp from China) to consider exchanging their national currencies to Chinese currencies in order to import the relatively cheap goods from China.
In regards to those whose national/private reserves are dollar based, you should expect occasional upward reversal in the price of dollar, this should preserve your dollar reserves.
There were other potential issues that were considered before this will fully begin. The issues have mostly been resolved and I will be monitoring for more issues for future adjustments. I'm doing this in such a way that problems are not created. And it will only be done when necessary.
Now is the turn of Bitcoin/crypto