You have no idea how prices or currency work.
Start by Googling "supply and demand curves" and come back when you can explain how this could ever actually happen even if they wanted to do it.
Magic (they'll just pass a law) is not an acceptable explanation.
Topic: What if Gov puts the Dollar and Bitcoin on the Silver Standard, 1 to 1? - page 2. (Read 1831 times)
November 13, 2013, 11:44:01 PM
November 13, 2013, 11:37:07 PM
You can never trust the supply of silver because the vaults lie. JPMorgan and Goldman Sachs naked short more silver than what exists in the world.
In regards to transparency in supply, this is something you never have to worry about with the Blockchain.
If you want silver for your BTC, just buy some.
In regards to transparency in supply, this is something you never have to worry about with the Blockchain.
If you want silver for your BTC, just buy some.
November 13, 2013, 11:34:28 PM
The only reason people traded their gold/silver for bills was because metals were hard to safeguard and inconvenient for trade. this is not true with bitcoin. Therefore no one would trade their bitcoins for "bitcoin bills" issued by the US government, except in very small amounts for convenience purposes (microtransactions, physical payments, etc)
November 13, 2013, 11:25:54 PM
I read on a little political forum a brief comment regarding this idea.
If government is afraid of losing it all (income taxes, and control of the whole money industry) to Bitcoin, might they not do something like this? I'm not saying that it would be a dollar an ounce of silver or anything, but maybe a tenth of an ounce of silver for a dollar, and for a bitcoin.
Sure, the Treasury might have to print more money until the thing took off, but wouldn't this successfully throw a wrench into the Bitcoin works?
Seems to me that the price of Bitcoin would gradually come down against the dollar. Somewhere along the line, things would stabilize, and then Bitcoin would just die. And if it wasn't a great boon to Government to do this, at least they wouldn't lose complete control. It would give them time to think of ways to control all the cryptocurrencies.
Of course, with the dollar on the silver standard, things would start to normalize in the money industry, wouldn't it? What do you all think?
If government is afraid of losing it all (income taxes, and control of the whole money industry) to Bitcoin, might they not do something like this? I'm not saying that it would be a dollar an ounce of silver or anything, but maybe a tenth of an ounce of silver for a dollar, and for a bitcoin.
Sure, the Treasury might have to print more money until the thing took off, but wouldn't this successfully throw a wrench into the Bitcoin works?
Seems to me that the price of Bitcoin would gradually come down against the dollar. Somewhere along the line, things would stabilize, and then Bitcoin would just die. And if it wasn't a great boon to Government to do this, at least they wouldn't lose complete control. It would give them time to think of ways to control all the cryptocurrencies.
Of course, with the dollar on the silver standard, things would start to normalize in the money industry, wouldn't it? What do you all think?
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