Topic: When the USD collapses what will happen to Bitcoin? (Read 2795 times)

Everytime some fools decides to call the current powers 'empires'.....it's good for a laugh

The reason current structures are more resilient and adaptable is PRECISELY BECAUSE it rules out absolute imperial tendencies (so called 'imperialism' is nothing but a fabrication and myth hyped up by those seeking to create a scapegoat - they wouldn't know a real authoritarian oppression if it was fucking them in the ass, but would rather be sucking its cock instead). Relatively minor 'faults' are nothing compared to the actual sins of those who themselves constantly bitch and moan about 'imperialism' yet oppress their own people and each other with equal degree of criminal behavior.


USD may rise and slump, but rest of the world has a better chance of going up in flames with economic depressions before that happens. If you try to take yourself off of USD, you will find out just exactly how much your prosperity and standards of living were dependent upon it's role in the world. USD or the US Government doesn't need to actively fuck over somebody - they do a fine job of doing that on their own.

Btw rest of the world owes 0.89 dollars for ever 1 dollar US owes to the world. Let that sink in a bit, and also consider the fact that US interest rates paid to others is far less % than others pay to US thanks to relative innate strength and stability of US economy and government.

It's much more than a direct effect if something like the USD collapses.  It's not like if X happens then the outcome will be Y.  The shadow banking system dwarfs the regular banking system, and derivatives like interest rate swaps, credit default swaps, etc., will bring the whole world crashing down.  It's not a linear thing that can be tracked or predicted, it's a giant spiderweb of mess that you really cannot untangle in an orderly fashion.  Look at what happened when Bear Stearns went under and they were nothing in the grand scheme of things. 

Bitcoin has its purpose in the future of money and the storage of wealth but the tinfoil hat apocalypse/SHTF people need to stop because as some have mentioned, you're better off with guns, food and a bunker if the US collapses.  I don't care where you live.

Lol 97% down in 100 year? Do your math again mate. It's much, much more then 97% in 100 year.

Or probably i understand you wrong, and you mean lost 97% of it's worth within the last 100 year, then you are right.

It could last forever, but this one is nearing its collapse each year.

IF? (click me)

OP was right to use the word, "when".

No empire lasts forever.

Well we will be at war with Russia any day now....and Syria with Turkey....Israel with Iran....South Korea and North Korea....its all building up to the explosion point any day now. Just watch. Fuck CNN btw.  You all should be watching Vice News.

https://www.youtube.com/user/vicenews/videos

Any supplies needed for surviving actually.

The fallout from such a scenario would destroy infrastructure, leaving most places without consistent access to internet.  In times like these, the last thing people will be thinking about is Bitcoin or any digital currency.  People will be looking at tangible items like food, water, shelter, cloths, gold, etc. as tradable commodities. It's about survival, not speculation.

The smart Bitcoin holders would be trading out of digital currencies as fast as possible for tangible, real world survival items.  Bitcoin would collapse right along with the dollar.  What digital currencies should be pushing for, is a smooth transition from fiat to digital currency.  That way fiat can just fade away and digital currencies will be the new norm, without the need for such an apocalyptic situation, that will be bad for everything and everyone.

All that said, I don't think we have any immediate fear of such a thing happening and digital currencies are going to be able to really get things right, with plenty of time to spare, to offer the world a better form of money.  Immediate dollar collapse paranoia is really just that, paranoia.

It's a huge difference between 97% collapse in one year, or in 100 years (inflation rate of 3,5% per year). I don't see any problem with single digit inflation as it motivates people to engage in investments and consumption instead of hoarding.

If you have $10,000 and you know it will lose 3,5% of it's value within a year you should invest it in an asset that will increase at least 3,5% in value per year.
That would probably be blue chips stocks as they provide both value increase and dividend.

It's not how much a Bitcoin is worth in USD or EUR, but how much work would you do for one (1 Bitcoin).

In the end all currency exchange (used as a verb) work for work. Web programming for electricity or food. Construct buildings for iPhones and books for kids. "Money" is a placeholder for "work".

A building that is 97% collapsed is collapsed. Fiat currency that is 97% collapsed is, well, grossly inflated. You can stagger on with more and more 0's on the bills, but it's not a good situation.

What people need to keep in mind now (and my point earlier) is that fiat collapse CAN now happen without destroying the economy, unlike in the past. As cryptocurrency replaces fiat currency, the latter can and will fade away without a Zombie Apocalypse scenario.

You sure know how to lose an argument. The US dollar has NOT already collapsed. 99.9% of people will tell you that. However, you seem to think it already has. And you prove it by a meaningless fact. I think you need to look at other facts that might be more relevant.

Greetings all and my first post here 

So... If things really do crash why do we have go around shooting each other - wouldn't it make more sense to carry on working, probably without actual £/$ pay and start cooperating, for our own survival and ultimately prosperity, with Bitcoin?

It'd be the last thing the 'authorities' would be expecting of us and would deny them the option to call in the troops to keep the peace.

We might take the opportunity to look at other options too
http://www.bbc.co.uk/news/world-europe-13725277

Martin.

If dollar collapse there will be massive chaos. Riots and looting everywhere, I think martial law would be inforce. There will be massive blackouts, food and water would be ration until the military cannot control the people. Internet would be gone in most places. Bitcoin price would rise in international trading but its very hard to trade. I think having a gun, gold and bitcoin is the best to have during this time.

I hereby pronounce this wisdom to be irrefutable.

As the dollar is massively devalued to tackle the lunatic debt bubble, Bitcoin will increase in value astronomically. An actual full-scale collapse would likely result in a Walking Dead style apocalypse....but possibly without the zombies.

depends on how damaged the energy supply chain becomes

A sudden and severe blockage in global trade due to the lack of sound money in a "dollar collapse" scenario would damage the supply chains that provide the constant flow of energy and goods into the world's major cities.  Without sufficient energy and goods, society in heavily-populated areas would break down.  

In a dollar-collapse scenario, gold is too slow to facilitate global trade if it has to move and requires too much trust to facilitate global trade if it doesn't.

To permit a quick transition away from debt-burdened fiat currency without a breakdown of order in the cities, there would need to be a robust proven alternative in place at the time of collapse.  Political institutions like the IMF will not be trusted, as power structures will be fragmenting.  One would need some sort of trustless money, sort of like gold, but with the ability to quickly send it across the world in order to keep the vital trade lines moving.  It would be helpful if this money already had a sufficiently broad user base so the most communities had members familiar with how it worked, and a sufficiently established billion-dollar network of globally-connected hardware that would stand up to turmoil during the transition.  

With something like that, the transition away from fiat currencies could seem anticlimactic in hindsight.  

You know, I used to wonder why fiat currencies like the dollar and euro hadn't already collapsed given their obvious mismanagement/inflation and the horrid trajectory that welfare (and military) spending was clearly taking. I came to the conclusion that the chief reason the collapse had not already happened was simply that the major alternatives to the yen, euro and dollar were each other. They were all being mismanaged to roughly the same degree, giving people who wanted a way out of the rotten system little alternative. I mean, you could buy lumps of shiny yellow rocks and hide them in your mattress, but that was just not practical.

Along comes bitcoin. Now there IS an alternative. And I think that ironically when we hit critical mass with bitcoin, it will trigger just such a seismic collapse. As people begin to shift funds to bitcoin on a large enough scale to start to noticeably deflate fiat currency, it will become a vicious cycle as people rush into altcoins to avoid being the last person holding worthless fiat. That's why I've been annoying all my friends/family on facebook saying "Look, you need to start learning about this NOW!" Because I really do think this is coming, and the banks and government can't really stop it.

Exactly, It's a bigger issue if USD collapses than other currencies, that's because most of the worlds international trades are settled in USD.

USD could collapse in one of these scenarios:
-Oil producing countries refuses to sell oil in USD
-Political instability, civil war or revolution in USA
-World war where USA is affected
-Black swan events that are impossible to predict or speculate about

If the USD collapses to zero real value, and if bitcoin retains finite real value, then the price of bitcoin measured in dollars would go to infinity.  

If you mined a coin at this time, you would owe infinity dollars to the IRS.