Topic: Why Bitcoin is going to takeover the Dollar as world´s dominant currency (Read 1694 times)

I like the fantasy thoughts going on here, after some thought I think someone, like a central bank that has the ability to print fiat and use that fiat to buy bitcoin will not only damage bitcoin, but will destroy their own fiat currency in the process.


I think Satoshi is too wise to counter-manipulate the market and would probably let it control itself
I might be wrong about this, but I beleive if Satoshi participated it will be visible in the blockchain and will cause a negative story and slight panic

And what if satoshi keeps all those coins in case someone trys to manipulate the whole system?
It would be easy to stabilize the price with such an amount of coins or am i wrong?

>begging in the streets
>using phones with NFC support
ohh that's sounds pretty weird...

As a victim of an economic war that keeps going in my country for the last 5 years, (I'm in Greece) I can certify that the modern wars won't use guns or bombs. Instead they love MACDs/RSIs and Debt. If you think you're safe living in another country like US of Germany then think again.

Greece was the "case study" (aka: experiment). Chances are they will come after you too, within a very short period of time just like they did to us. The media will love to get paid by them and feed you with rubbish (they do the same everywhere) and the ability to control yourselves will only be possible for the people who don't follow the daily news.

Bitcoin is -by far- the best idea provided for the "next world" economy. It combines Math, Cryptography, IT, Economics, and most importantly: Integrity! As non inflational "currency" it will dominate paper money within a short period of time (it's already en route). As a decentralized one will be impossible for central agencies, banks and/or corporations to control it (they can use it of course like you and me - but they won't be able to "produce" new money).

I've written this elsewhere, I'm sure about it but I will have to repeat it here:
If ONE person was able to come up with this idea on his/her own, then this certain individual would have been able to mark a brand new high to IQ tests as we know them. I tend to believe it's a team work which involved many modern-day geniuses at their field of expertise and they were able to evolve a medium like this.

Last but not least; what's the thing that gives "money" its value? The answer is "the deal" people have established when they made it available. Gold was once had no value at all; dollar bills were also of very small value when they were introduced. What made their value stronger was the "deal" of the people to use them. The more, the merrier. The more the circulation, the stronger the currency. When the banks were starting dropping "new" inflational bills into the market, the "value" dropped. It's natural - the deal was broken.

That's why Bitcoin will succeed. This might be the 1st of many other cryptocurrencies, but it will always be the first as well...

Hmm, a controlled currency would not be possible, as bitcoin is not owned or made by a single institution. Unless Bill Gates, Warren Buffett and the Koch family would buy all available bitcoins (which would be nice for the current owners of bitcoin as this will cause a massive price increase), bitcoin would not be a controlled currency. Oh, and by the way, even if somebody would buy them all, the market is gone, no users are left and BTC will probably be dead.

So, a state-controlled currency to replace the dollar? No, It is by nature a deflating currency, not inflating like paper money. Nations will hate it? Yes, their power to print money will be gone. As more and more people around the world will understand that our current money system works, but is corrupt, and bitcoin is not corrupt by its nature due to its maximum emission of bitcoins, the world will flourish.

Haha just imagine (this is probably nothing serious for at least the coming 50 years or more): Billionaires of this time (dollar time) will be the ones having 7,2 bitcoin, as Bill Gates has 72 billion right now. We will look up to those persons and be like, wow he has 7,2 bitcoin! He is a the richtest bitionainre in the world! (haha.. bitionaire sounds like bitchionaire, maybe bitlyionaire is a better word choice). The poor ones among us are begging on the streets, asking if we can tap their phones using NFC to give them a Satoshi or 5...  What a strange world that would be Maybe some will look back at this paragraph in 50 years and  think haha, he was right after all.

Somebody else's thoughts please on this topic, I find it interesting haha!

You can control the price of Bitcoin towards the Dollar/Fiatmoney with closed trading systems

Example:
-The daily volantlity is about 5.000 Bitcoins.
-Some people build up a group, which own´s 10.000 Bitcoins.
-Through that difference of Bitcoins they can make the price fall or rise, like they want...by selling or buying among themselves.

->The Bitcoins stay in a closed trading Structure.
 
If more and more people get into the Bitcoin system, you need to expand your controlled Number of Bitcoins in your Closed Trading System.
The Difference in volantility between the people wich are not involved in that system and the CT System makes that expand.

Further, there is a party which is printing a lot of Dollars each month.
Spending 1/65 of that into mining systems or buying Bitcoins will increase the ability to control Bitcoin in the future.
Bit by Bit...Bitcoins will be overtaken by the Big money until the Dollar collapse is allowed.

Bitcoin will survive and offers a great opportunity to get back the moral momentum of the USA, as bankers are presented as evil and Bitcoins are accepted by every big company.

It will feel good.

But in the end, it will be a controlled currency and history goes on...

For me that means, bitcoins will get more and more valuable until the whole thing is done.

Possible???

Thx for your replies...