Its too early to state anything like this. You might be saying it because you all are into the crypto and know bitcoin very closely. However it could happen that, bitcoin may just remain as the supporting currency all the time and may not even get the chance to enter itself into mainstream of the crypto currencies. Remember that bitcoin is just decade old currency and it is based on unregulated environment and public ledger but we must not forget that this world is also ruled by government these days.
They have all the power to make changes in the tax patterns, prices of properties, lands, homes and almost every product and services available. Thus they can make the dollar come back to its original outset in no time.
Topic: The US Dollar has DEBT and Bitcoin has none (Read 482 times)
I do not even believe fiats will fail. They have not failed over the years and governments have a way of still pushing it out there. However, with respect to your statement of crypto being volatile, this is still a new space and of course the currency aspect of it is not being utilized fully which is what makes it a whole lot speculative in nature and results to the increase in volatility.
For what it is worth, I believe this is something that would change over time, and for sure will become an alternative to fiat, but cannot be for everybody just as you said in some people feeling it is a whole lot complicated for them and would rather stick to fiat.
Fiat will fail, I know that there are many people that will not believe it until they see it, but if you take the time to look at the history you will see that no fiat currency has ever survived and that every single one of them has gone down to its intrinsic value which is zero, I know it may seem difficult to believe because fiat has been around for a long time, but the system cannot last forever and once it crashes a lot of people are going to be burned by it. For what it is worth, I believe this is something that would change over time, and for sure will become an alternative to fiat, but cannot be for everybody just as you said in some people feeling it is a whole lot complicated for them and would rather stick to fiat.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
yes, I also strongly agree with your opinion, maybe now the BTC price is down or is experiencing a difficult period but I am sure BTC will recite in the next few months.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
I don’t know for you, but once you’re rich you wouldn’t be saying all this. If you say you like Bitcoin, no matter how much you try, you will still withdraw and move your funds to dollars or your main currency. What I believe is that as long as you’re not owing anybody and you’re living a good life, then you have no problem.FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
All you have to do is invest your money wisely and that’s it. Whatever nonsense economists are blabbing… duh… it’s just their business, they are just seeking for attention.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
I don’t know for you, but once you’re rich you wouldn’t be saying all this. If you say you like Bitcoin, no matter how much you try, you will still withdraw and move your funds to dollars or your main currency. What I believe is that as long as you’re not owing anybody and you’re living a good life, then you have no problem.FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
All you have to do is invest your money wisely and that’s it. Whatever nonsense economists are blabbing… duh… it’s just their business, they are just seeking for attention.
The US dollar does not have debt, the US has debt and the dollar is there choice of currency. Debt is not an issue for a currency in a direct way. Only because often these countries cannot repay their debt so resort to printing money and this in turn leads to inflation.
Exactly! This is not in any way new and sure we might see some implosion of fiat in the long run, but as the case may be, this is still something a lot farfetched, and government will keep trying to print more money just to be able to paint it out there like it is still something very relevant and inflation keeps becoming the norm of the day. This I believe will make the interest for the decentralized space even more interesting for a lot, except for those who are in a way benefitting from the monopolies going on in the fiat space.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
That is why their governments will make more FIATs. Where in Bitcoin we can do everything we want in life with it. Just imagine if we can buy a piece of candy for 0.00000001 mBtc?
Central banks are printing more money and that makes all fiat currencies vulnerable to inflation. Inflation, when governments are issuing more fiat can be enough to make fiat currencies worthless in the future. In centralized systems it`s always like that, they are doing what they think it`s the best, but in history and even now when you take a look who is running the countries and banks we know that they think how to get more rich, they don`t care about the people. I was here when 1 dollar was between 5 and 10 mBTC, last year we witnessed 1 mBTC at more than 17 dollars. Why to not imagine 1 satoshi to be 1 dollar? I think about often, and I think about when that can happen, that will mean that 1 bitcoin is 100 million dollars! Is that possible? Deep inside I hope it`s possible and I think about when that can happen, in 5 or 10 years, maybe more? Why to not have big dreams, with big dreams we climbed to here, and we need big dreams to get much higher.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
That is why their governments will make more FIATs. Where in Bitcoin we can do everything we want in life with it. Just imagine if we can buy a piece of candy for 0.00000001 mBtc?
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
well its too bold to say fiat is useless and going to fail. I just believe why bitcoin or altcoins is future cause they seems good and could turn out to be a currency for transaction but i believe it would be true cause human live is keep developing and this technology is really good to be use for transaction. Despite all of good reasons there is a real problem with cryptocurrency, crypto are to volatile and too complicated for some people. So i believe many people would stick into fiat currency.FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
For what it is worth, I believe this is something that would change over time, and for sure will become an alternative to fiat, but cannot be for everybody just as you said in some people feeling it is a whole lot complicated for them and would rather stick to fiat.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
It is obvious that the fiat system is going to fail at some point in the future what we do not know is what it is going to replace it? Will cryptocurrencies take over? Will gold take over? Or will politicians devise an even worse system than the fiat system and then try to apply it to the whole world? That is going to be a very interesting question and I'm certain that we're going to find that in the next decades. FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
The US has no debt, governments and citizens have. If Bitcoin has no debt, be sure people will use Bitcoin to create more debt as soon as it can be used.
They are not similar tho. Bitcoin has no debt because bitcoin is not centralized and it can not create debt, bitcoin is not an entity that can get debt from people, even the developers and the blockchain community that improves it doesn't get money or even if it does its usually donation so in the end they do not acquire debt like some entity.
Moreover, USA is not like that USA is a big country, probably biggest in terms of economy considering they affect the whole globe (2008 economic crisis caused by some banks leveraging their house mortgages and because some american banks leveraged mortgage credits, COUNTRIES fell to debt and financial crisis) and because they are world powers, they can get debt and people who they owe debt knows USA will eventually pay because they are good for it.
Moreover, USA is not like that USA is a big country, probably biggest in terms of economy considering they affect the whole globe (2008 economic crisis caused by some banks leveraging their house mortgages and because some american banks leveraged mortgage credits, COUNTRIES fell to debt and financial crisis) and because they are world powers, they can get debt and people who they owe debt knows USA will eventually pay because they are good for it.
I live in a country where interest in the US dollar is falling rapidly at all levels of the population. Those people who have a lot of dollars are interested in and buy crypto-currencies (BTC, ETH). I think that the process of transition from the massive use of fiat to the use of crypto currency has already begun.
The founder of Bitcoin understood this: He was and is a genius!
We can think that Satoshi Nakamoto had no idea that bitcoin will be a mainstream like he/she just started from a scratch and likely should be use as a currency. And since bitcoin had seen a potential it drawn attention to people and that what made bitcoin valuable otherwise an asset.
Is the dollar comparable to the BTC? The dollar is a fixed legal tender, but the BTC is a speculative product and they cannot be compared.
You know it's hard not to compare because the value of bitcoin is always measure in dollars. Likely, we can't tell 1 bitcoin is $7200, isn't it? By the way, I'm talking about the monetary aspect.
Well the fact that bitcoin hasn't backed by anything, so in which it can't have a real debt like fiat.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
well its too bold to say fiat is useless and going to fail. I just believe why bitcoin or altcoins is future cause they seems good and could turn out to be a currency for transaction but i believe it would be true cause human live is keep developing and this technology is really good to be use for transaction. Despite all of good reasons there is a real problem with cryptocurrency, crypto are to volatile and too complicated for some people. So i believe many people would stick into fiat currency. FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
The US dollar does not have debt, the US has debt and the dollar is there choice of currency. Debt is not an issue for a currency in a direct way. Only because often these countries cannot repay their debt so resort to printing money and this in turn leads to inflation.
This is more correct statement, the one that got debt problem is US, not the dollar, and having debt is not too bad, it shows that the currency is more flexible, and dont worry about the currency going to implode, usually a centralised currency will more stable and more adaptable to the situation, a lot of people choosing bitcoin because it is decentralised and easy to used, its not about the coin having debt or not
The US dollar does not have debt, the US has debt and the dollar is there choice of currency. Debt is not an issue for a currency in a direct way. Only because often these countries cannot repay their debt so resort to printing money and this in turn leads to inflation.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
You don't have enough basis for calling flat will fail and will implode eventually. It may look to you that cryptocurrency is the futuristic one but the problem with that is there is no guaranteeing its price other than demand and limilted supply. Government could make their own blockchain technology to engage in transactions but not removing the usual flat we know. They can make a crediting system where in it uses both cryptocurrency for online and flat currency for offline transactions which I think the safest thing to tell right now because I see it in my country.
Governments can't adopt bitcoin as their only currency because the current financial system runs off debt. You can't just create more bitcoins with fraction lending like how the central banks do.
Also if they ended up creating a government currency with a ledger that was able to be changed by a single person then it would no longer be a true decentralized cryptocurrency.
Also if they ended up creating a government currency with a ledger that was able to be changed by a single person then it would no longer be a true decentralized cryptocurrency.
This is an interesting fact. I also think that someday bitcoin will take over FIAT currency. It will take much time but will happen someday hopefully. Still we couldn't be independent of traditional currency.
I don't believe bitcoin can replace fiat money, because paper money especially the US dollar, has dominated the world. Even in remote areas, the US Dollar is known and acceptable, although it must be exchanged in advance in Money Changer to become a local currency, because in each country it has its own local currency. So bitcoin will dominate the digital currency starting the next decade. Bitcoin is becoming popular and it is also not acceptable all the countries. If bitcoin remains their performance then they will acceptable all the countries and then bitcoin will compete with dollars.
It is happening!
Yep. When you have a currency supply that is not kept in check by one mechanism or another, it's really hard to justify why this currency would be able to retain its value in the long run and not implode or collapse in one way or another.
This is the exactly what fiat is. After the USD got off the gold standard, the government has had full control of the currency supply. And this is shown through historical data where fiat currencies have gone nowhere but down in value in the long run.
Bitcoin, gold, and silver are three of the best long term hedges against a fiat collapse/depreciation, and in my opinion, bitcoin currently would probably be the most practical and biggest emerging asset out of all three.
This is the exactly what fiat is. After the USD got off the gold standard, the government has had full control of the currency supply. And this is shown through historical data where fiat currencies have gone nowhere but down in value in the long run.
Bitcoin, gold, and silver are three of the best long term hedges against a fiat collapse/depreciation, and in my opinion, bitcoin currently would probably be the most practical and biggest emerging asset out of all three.
The whole world has debts. Bitcoin is cryptos because no one can manage it, so it does not have public liability. The amount that the dollar. But the obligation of the dollar does not affect the economy of this country, when so many other countries are suffering from public debt pushed a lot.
Always remember that the US Dollar has Hellfire missiles and attack planes and Bitcoin has none. Bitcoin and free money will win in the end but there is going to be a fight.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
That's why dollar is said to collapse surely one or the another day.At that time,big shots like Warren Buffett,Bill gates,etc would be the ultimate losers who usually used to say that bitcoin is nothing but an illusion.FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
That is why the dollar is supposed to collapse for sure one day or another.
At that time, there will be losers who are often used to saying that bitcoin is nothing but an illusion.
With all these shortcomings, Bitcoin caused more confidence than the dollar, with public debt, sold to everyone.
Is the dollar comparable to the BTC? The dollar is a fixed legal tender, but the BTC is a speculative product and they cannot be compared.
You are simply wrong here, the US dollar holds NO DEBT. It is a currency that is being used and wouldn't be able to hold debt, as no one is going to lend money to a currency which has no way to pay it back (as a currency, of course, has no revenues or expenses) You're thinking of the US government and you're confusing the government that is backing the currency and the currency itself.
Bitcoin and the US dollar BOTH have no debt.
Bitcoin has no debt, while the US government does have debt (like PRETTY MUCH EVERY OTHER GOVERNMENT) That's just how it is.
Bitcoin and the US dollar BOTH have no debt.
Bitcoin has no debt, while the US government does have debt (like PRETTY MUCH EVERY OTHER GOVERNMENT) That's just how it is.
Definitely bitcoin is the future that is not so far away.It is difficult for me to imagine what the world will be after the official adoption of bitcoin as a means of payment and mass application.I don't know when fiat will leave but I think it will happen soon.about the founder of bitcoin, we will know soon.He was going to release his own book.We'll wait for her to come out.I think it will be very interesting
The US dollar is FLAWED
Bitcoin is not!
Bitcoin is not!
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
That's why dollar is said to collapse surely one or the another day.At that time,big shots like Warren Buffett,Bill gates,etc would be the ultimate losers who usually used to say that bitcoin is nothing but an illusion. FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
It never came to me to that the US dollar has debts while the bitcoins has none, but I don't think the debt will be the main cause of countries shifting to bitcoins and dumping fiat.
The debt that is accumulated by fiat or USD is because it is controlled by the government and it is carried about physically to satisfy the society's need.
The US Dollar has a physical nation, Bitcoin has none. That physical nation has a physical police force and army that can do anything to anybody at anyplace for the sake of that US dollar. Bitcoin has ..... hackers?!
It's only a matter of time before someone invents an altcoin that can act as bitcoin debt.
some already did. they swapped someones mtgox login for coin (buying off their debt at pennies to the dollar)
Does Bitcoin have debts?
this is really surprising, it turns out Bitcoin still need Fiat. Bitcoin with Fiat can not be separated, it will be difficult for Bitcoin if have to part with Fiat.
should be between Fiat and Bitcoin should be able to establish a good relationship.
I already say to many of my friends who listen to the opinions of people who claim that Bitcoin is a bubble and it will soon burst, but if you look at everything seriously, then most likely the dollar is a bubble. It's just that the American scammers built everything very cool. But, I agree that sooner or later the dollar pyramid will be abandoned. I can not say that Bitcoin will take the place of the dollar, but the fact that the digital asset will be the equivalent of the dollar - I'm sure of that. Personally, I, with all the shortcomings, Bitcoin causes more confidence than the dollar, with its turbid public debt, which is sold to all. I am amazed, because my country also invests money in the state debt, - delirium.
It's only a matter of time before someone invents an altcoin that can act as bitcoin debt.
some already did. they swapped someones mtgox login for coin (buying off their debt at pennies to the dollar)
Bitcoin is becoming popular and it is also not acceptable all the countries. If bitcoin remains their performance then they will acceptable all the countries and then bitcoin will compete with dollars.
It's only a matter of time before someone invents an altcoin that can act as bitcoin debt.
bitcoin has not debt??
care to tell the MTGox creditors(class action claimants) this.. they will disagree
what you meant to say is bitcoin is not created via debt agreements (credit/mortgage/bonds)
care to tell the MTGox creditors(class action claimants) this.. they will disagree
what you meant to say is bitcoin is not created via debt agreements (credit/mortgage/bonds)
Quote
The US Dollar has DEBT and Bitcoin has none
Wrong the USD doesn't have any debt. The government does and so the US citizens
BTC is the future for sure
USA have debt, not US dollar. US dollar is just a tool to exchange goods between people.
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
Having debt isn't an inherently bad thing. It really depends on the whole economic picture. You can't really simplify things like this and get anything from it.
Actually after inventions of btc it is creating a good value in the market also many people like to use this coins based on this day by day btc is creating good positions in the market also fiat money can be replaced by btc in future.
That's an interesting post. It is good to see the countries open up to Bitcoin gradually , I believe it is a really good time for Bitcoin. I think and hope that it will grow more in future.
The reason for the existence of the bitcoin is to replace the fiat money. Now bitcoin is getting accepted by different country’s governments as well as different companies and institutions. When bitcoin will be accepted by all then the fiat money will lose its value. People will be use bitcoin only.
The dollar keeps eroding paper money so the paper money really loses its value. But once bitcoin comes in, and weaker people start switching using bitcoin and eventually the dollars will lose fans.
Let’s hope this is the case!
The dollar keeps eroding paper money so the paper money really loses its value. But once bitcoin comes in, and weaker people start switching using bitcoin and eventually the dollars will lose fans.
Warren Buffet and Bill Gates need to keep their thoughts to themselves. If the US economy collapses Warren will be regarded as the biggest fool of our time. Bill on the other hand likes to take things for Free: DOS: His daddy is a lawyer and did his daddy help him take things for free! Bill needs to come clean because from where I sit he is dirty!
Long live BITCOIN!
Long live BITCOIN!
Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!
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