Topic: Now that Obama's in for 4 more... - page 2. (Read 2204 times)

What makes you think we aren't already?

You want your kids to live in a  collapsed society?

Exactly this. Sometimes things have to get worse before they can get better.

It's actually quite easy to explain but there are correct and different explanations for it:

. Obama wins the election, stupid, mainly racist people ( lets be honest here guys ) get terrified and start buying up bitcoins because they think the end of the world is coming and want to get out of the dollar - this may explain a short term rise so soon, I remember seeing on the news at one time about how Gun Stores actually benefited greatly from Obama's scary gun law threats because everyone would rush to buy guns to prepare themselves for a civil war that wouldn't happen, same logic can apply to Bitcoin

. Obama is going to continue pursuing business as usual policies of inflation and blowing up anyone that looks at his country funny which will massively increase the debt and a rise in bitcoin prices is simply a reaction to his future policies much like the way currencies sometimes react to announcements by central banks etc.

. The USD is controlled by the Federal Reserve who are the only ones that can print the bank notes, they buy up bonds and securities to maintain a certain level of volatility that speculators can deal with whereas with Bitcoin it is a deflationary de-centralized currency not really controlled by any one entity, I believe that speculating with the currency itself is actually a fairly stupid idea because of course it doesn't have the same predictability the USD has as if you decided to purchase bitcoins for speculation purposes someone could just easily dump a ton of bitcoins or purchase them to ruin your day

That's how I understand the current situation at least in my mind.

As a consolation prize I have to agree --- I'd rather have the collapse happen under a liberal.

Yeah, that's kind of where I am. Plus, if Romney had won, that would make it easier to blame the inevitable collapse on "deregulation" and "drastic cuts" to government spending (because as you know that's how Republicans govern).  If we're going to have statism, I'd rather it not be cloaked in the rhetoric of liberty and free markets. 

Dude. Bitcoin is not backed by lead and brass. 

A part of me is glad Obama won. It means a faster road to collapse. Just study history and the rise and fall of empires. Pretty eye-opening stuff and we are speeding far and fast down that very road. People dont know their history. There is one law that never changes in this world. Debts shall be paid - one way or another.

If it's going to happen, better to rip the bandaid off fast rather than the long slow agonizing pull, and hope it comes to a head in my lifetime to save my kids and grandbabies.

*upvotes*

Increased taxes and gloomy economic forecasts will slow the economy down even more. I believe that the recent (and very weak imo) leveling off of the economic dip in the US was because everyone was expecting Obama to be sent packing.

Republitroll warning! Thinks a presidential election affects the Federal Reserve Cabal.

Election results:
Massachusetts (where Romney was governor): Mitt Romney 37%
Utah (land of the Mormon): Mitt Romney 74%

You're welcome.

USD goes down, btc goes up. You can't explain that.

Let's be more honest.

USD was designed to depreciate.

Right! But the faster the economic collapse, the more incentive people will have to use alternatives to cash... like bitcoins.

Let's be honest. It was going to do that anyway.

 

...we can expect the price of bitcoin to increase even more as the USD continues to fail.