How does silver compare to gold in terms of rarity and the ability to mine?
I haven't got the money to buy loads of gold, but I have some BTC and would be interested in silver if it is seen as a sound investment. Or is it better to buy a small amount of gold together with BTC?
Topic: What would you do if the US Dollar crashed ? - page 3. (Read 4221 times)
buy 80% of gold and 20% of bitcoin every month. Any amount you can afford.
Then dollars, euro, francs will not bother you anymore.
I mean, if you really love BTC do the opposite, 80BTC 20 gold.
My 2 satoshis
Then dollars, euro, francs will not bother you anymore.
I mean, if you really love BTC do the opposite, 80BTC 20 gold.
My 2 satoshis
Even if certain contributors on bitcointalk don't think this is going to cause a problem, some big nations sure do - namely the Chinese, Russians and Indians who've been hoovering up all known gold supplies around the world for the last 3 years.
Just to put things in perspective, can you imagine if the Peercoin dev suddenly decided to hardfork PPC and grow the coin supply from 20 Million to 100 million overnight ? Do you think PPC holders would have something to say about that ? (Like revaluing PPC to a fifth of its current value by dumping en masse).
The chinese appear to be doing exactly that - but they need a way to hedge themselves prior to shooting their own feet off which is why they're buying all this gold. When they start to dump the gold price will skyrocket to offset their losses.
I can't see those conditions sustainable for a long period.
Even Greenspan did not believe, that what he created can be that sustainable. Amazingly it is over 2 decades. And that is not short period.
Question is how the money has to find the way to markets. If things will be like now, it is rational to think that nothing will change. Money can go to markets if the super rich people and corporations would like to move from speculative markets to lower floors of more real economy. But I do not see why this should happen. There is no ROI, markets are saturated.
I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen.
Would care to elaborate on the reasoning that brought you to this conclusion ?
I think I know why it's not failing right now despite the massive expansion (x5) of the USD "coin supply", but I can't see those conditions sustainable for a long period.
For example, what makes you so confident that the trillions backed up on Fed balance sheets, or the Chinese held $1T in USD bonds or the Japanese held $1T in USD bonds or the huge amounts of dollar denominated sovereign wealth funds held by the Gulf region countries won't find their way back out into the markets ?
No matter how many people think the USD will fail, it will not.
To answer your question, I will just buy a load of USD with my EUR.
To answer your question, I will just buy a load of USD with my EUR.
USD (and many currencies) used to be backed by gold.
All other currencies are backed by USD.
USD is no longer backed by gold.
If USD crashes, all other currencies crashes.
And you are trying to buy some trash with trashes.
I would buy the new "Strong dollar" which is backed by corn.
which is backed by my poop, and maybe yours.
Since BTC/USD is a pair...
No. Far from it. Bitcoin's value is hardly related to the U.S. dollar's health. There was no link between BTC's huge rise and then its fall earlier this year and the dollar.
Regarding your question, I haven't had a dollar in my hand for about 5 months, so I wouldn't do anything if it crashes, but I'm not expecting that. With millions of successful workers and the US army behind it, the dollar remains much stronger than BTC for the foreseeable future.
1. It is nonsense. Many fiat money were simply renamed, but held certain value. If you rename a currency it is not end of the original currency. The story how none of fiat money survived is utter bullshit. They lost most of the value, but holding value is not the only attribut of currency and it is overvalued factor.
2. Historical data do not tell anything to recent situation. USD is strong. People around world believe in fiat money, they use them, they save their retirement pensions in them. If you want to buy a house or gas or milk, you use it as well. If you deny it, then you are in asylum and someone connected computer there.
On the top of that US economy is in lesser shit than rest of world, so there is raising USD against other currencies.
USD and fiat money will vanish somewhere after value of the money in Bitcoin will be MUCH greater than monetary base of the fiat money. This means until we see rate 1 BTC = XXX,XXX USD, dollar is not going to crush.
2. Historical data do not tell anything to recent situation. USD is strong. People around world believe in fiat money, they use them, they save their retirement pensions in them. If you want to buy a house or gas or milk, you use it as well. If you deny it, then you are in asylum and someone connected computer there.
On the top of that US economy is in lesser shit than rest of world, so there is raising USD against other currencies.
USD and fiat money will vanish somewhere after value of the money in Bitcoin will be MUCH greater than monetary base of the fiat money. This means until we see rate 1 BTC = XXX,XXX USD, dollar is not going to crush.
What would be the wisest course of action ? Keeping reserves in Euro's to buy Bitcoin the moment the news of a dollar crash hits ?
If USD crashes - and I really do not see it in even long term - it will be together with other fiat money.
When it happens, there will be already alternative system like BTC or Googlecurrency or whatever else widely accepted as money.
Not a single fiat currency has lasted the test of time, not a single one. Every empire has fallen.. Time has a way of erroding even the strongest pillars.
What would be the wisest course of action ? Keeping reserves in Euro's to buy Bitcoin the moment the news of a dollar crash hits ?
If USD crashes - and I really do not see it in even long term - it will be together with other fiat money.
When it happens, there will be already alternative system like BTC or Googlecurrency or whatever else widely accepted as money.
I keep hearing from people more knowledgeable and educated then myself that the USD doesn't have much life left in it.
While I like to keep a sizable usd reserve to buy up cheap Bitcoin when the opportunity presents itself, I wonder what would happen if the dollar went down hard.
Since BTC/USD is a pair, obviously, that would mean that the relative value of Bitcoin would rise. But then there's the other fiat currencies that can trade to Bitcoin, directly or not.
I imagine there would be huge arbitrage opportunities for a while, and probably amazing panic buying, driving Bitcoin ten times higher then today ( probably a VERY modest guess.
What would be the wisest course of action ? Keeping reserves in Euro's to buy Bitcoin the moment the news of a dollar crash hits ?
While I like to keep a sizable usd reserve to buy up cheap Bitcoin when the opportunity presents itself, I wonder what would happen if the dollar went down hard.
Since BTC/USD is a pair, obviously, that would mean that the relative value of Bitcoin would rise. But then there's the other fiat currencies that can trade to Bitcoin, directly or not.
I imagine there would be huge arbitrage opportunities for a while, and probably amazing panic buying, driving Bitcoin ten times higher then today ( probably a VERY modest guess.
What would be the wisest course of action ? Keeping reserves in Euro's to buy Bitcoin the moment the news of a dollar crash hits ?
I don't think dollar would ever drop too much in its price. Its one of the strongest currency in the world and the chance of it dropping would mean a world wide financial problem.
Well Crushing of USD means "Russia and/or China" got the leadership of the world, so I would buy Russian Ruble or China Yuan 
I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though.
I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen.
If there is a significant price drop I will definitely buy up USD. Great investment opportunity.
LOL!
What's so funny ?
Because nothings funnier for me lately than seeing people in denial about a crashing global economy because it just shows how little you guys live in the real world.
Not sure if you're aware of the fact that people do have different opinions.
One thinks the world economy will crash in the near future, and the other don't.
I don't see a reason why the USD won't survive, every action will be taken to get it through whatever recession there is at that moment.
Change it with Euro
I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though.
I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen.
If there is a significant price drop I will definitely buy up USD. Great investment opportunity.
LOL!
What's so funny ?
Because nothings funnier for me lately than seeing people in denial about a crashing global economy because it just shows how little you guys live in the real world.
It won't fail
Why
Because
Because what
Because because.
Why
Because
Because what
Because because.
I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though.
I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen.
If there is a significant price drop I will definitely buy up USD. Great investment opportunity.
LOL!
What's so funny ?
That would finally given me the relief from bankers and wall street.
Would have kissed my wife and went sleep . BTC rule!!!!
Would have kissed my wife and went sleep . BTC rule!!!!
Mix of currency assets. Would want to own a diversified portfolio of physical commodities as well. Zero leverage across portfolio.
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