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Topic: Will Bitcoin become better (Read 932 times)

hero member
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October 24, 2024, 10:55:39 AM

From the Stone Age to the Modern Era, every word that comes out of politicians is always grey, there is no clarity that can be held because the statement is only temporary to smooth their desires. Previously Bitcoin had been flying very high long before the two politicians talked about it, Bitcoin but on its path without any party being able to control it. Supply and demand are always important factors in determining its price, the difference in the path between Bitcoin and Fiat makes the central authority have no chance to control it.

But the state of the world economy will directly impact the supply and demand of bitcoin. The demand for bitcoin will not increase if our economy faces many challenges and makes people's lives difficult. On the contrary, if the economy develops and people have a prosperous life, the demand for bitcoin will also change for the better, thereby positively affecting the price of bitcoin. And the state of the economy is determined by government policies, so it is clear that politicians still play an important role in the development of bitcoin.

Have you ever wondered how bitcoin would develop without the massive influx of money? And to get massive influx of money into the market, we need government permission.

Bitcoin is part of the world economy and the world economy is run by the United States, we cannot deny their impact on the growth of bitcoin.
hero member
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October 24, 2024, 10:21:56 AM
What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?
From the Stone Age to the Modern Era, every word that comes out of politicians is always grey, there is no clarity that can be held because the statement is only temporary to smooth their desires. Previously Bitcoin had been flying very high long before the two politicians talked about it, Bitcoin but on its path without any party being able to control it. Supply and demand are always important factors in determining its price, the difference in the path between Bitcoin and Fiat makes the central authority have no chance to control it.
legendary
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October 24, 2024, 09:12:36 AM
What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

Unfortunately I could say that there is nothing so spectacular or unique about the us election that will influence Bitcoin performance, Bitcoin has been doing greatly before this said elections and it will continue to do the same even after the election, hence anyone prioritizing bitcoin to be having or making new highs after election might just have failed to recognize the potentials that Bitcoin holds even without the election preposition, we don't have to be deceive by politicians as regards to making an informed investment decisions, because it is Bitcoin we are talking about here and not just some random coins in the space.

The US election doesn't affect bitcoin directly a lot but it will have its indirect effects on the crypto world. Since bitcoin is considered a commodity/money in many parts of the world, the economy in the United States will affect its price against the USD and the elections will affect the US economy and the USD. If the FED prints more money, the USD will weaken and BTC will go up against the USD. However, if the economy stops in the US, even though they print money than that's called recession or stagflation or whatever and then everything will go down. So, the leadership in the US is definitely important for anyone that trades assets whether it is bitcoin or stocks or other commodities.
hero member
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fillippone - Winner contest Pizza 2022
October 24, 2024, 08:24:29 AM
It's not fiat, it can't support bitcoin, including dollars, Bitcoin doesn't depend on fiat. Currently, many people doubt this, so there are opinions about the badness of Bitcoin. This is a stupid thing. In my opinion, there's no need to waste your thoughts on things like that. Bitcoin stands alone and cannot be linked to anything, including fiat.
True. We always waste energy on something that has no connection and connection between them. Bitcoin and the dollar are different things, and do not support each other, let alone the dollar supports bitcoin. What we need to understand is that Bitcoin will never replace Fiat currency, because countries will definitely fight it. but bitcoin will remain a very realistic alternative to fiat money.

The point is Bitcoin will remain bitcoin with its transparent digital use in trade and bitcoin will remain in its intrinsic use. So I think blockchain is the future of finance.
Bitcoin does not have anything to do with the USD and that is why the United States government are still taking more action to enable them to control everything about Bitcoin taxing us more that we are supposed when it supposed to be less. We can take a look at the Binance USD that was quite competitive with the USDT currency but suddenly we noticed that the government has flagged it and asked Binance to shutdown the operation and use of the stable coin. This is a big bais and I'm not surprised because the stable coins is pegged to the United States dollar, so the government want to have full control of it.
sr. member
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October 24, 2024, 08:04:22 AM
What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

Unfortunately I could say that there is nothing so spectacular or unique about the us election that will influence Bitcoin performance, Bitcoin has been doing greatly before this said elections and it will continue to do the same even after the election, hence anyone prioritizing bitcoin to be having or making new highs after election might just have failed to recognize the potentials that Bitcoin holds even without the election preposition, we don't have to be deceive by politicians as regards to making an informed investment decisions, because it is Bitcoin we are talking about here and not just some random coins in the space.
?
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October 22, 2024, 04:40:52 PM
Bitcoin has always maintained the same concept: a completely decentralized currency where the price fluctuates based on supply and demand. It is unalterable, unhackable, and cannot be manipulated. With the dollar, or any type of fiat currency, anything can be done, including manipulating citizens. Bitcoin is the complete opposite of government-issued currencies. A major step is what El Salvador is doing with its Bitcoin reserves; that is cryptographic progress.
full member
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October 22, 2024, 04:12:45 PM
It's not fiat, it can't support bitcoin, including dollars, Bitcoin doesn't depend on fiat. Currently, many people doubt this, so there are opinions about the badness of Bitcoin. This is a stupid thing. In my opinion, there's no need to waste your thoughts on things like that. Bitcoin stands alone and cannot be linked to anything, including fiat.
True. We always waste energy on something that has no connection and connection between them. Bitcoin and the dollar are different things, and do not support each other, let alone the dollar supports bitcoin. What we need to understand is that Bitcoin will never replace Fiat currency, because countries will definitely fight it. but bitcoin will remain a very realistic alternative to fiat money.

The point is Bitcoin will remain bitcoin with its transparent digital use in trade and bitcoin will remain in its intrinsic use. So I think blockchain is the future of finance.
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October 22, 2024, 07:11:26 AM
What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility?
I don’t believe it will ever happen. The best a country can do is recognize bitcoin as a legal tender but to use it to back up their currency would be a whole another thing. They can even make their own currency but there are factors to consider if they were to back up usd with bitcoin. First of all, they need to consider its volatility. Its volatility accounts for the reluctance of using it as back up.
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This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.
Come on they are politicians and they control the government. Would you really believe such words? They are basically saying that they want to remove themselves as the intermediary between transactions. They are just saying whatever we want to hear.
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Will Bitcoin become better if any of these become possible?
It could legitimize bitcoin. I don’t think it’s bitcoin that will improve but rather the people who already hold bitcoin would definitely be very lucky.
hero member
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July 31, 2024, 10:40:27 AM
What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility?
No, it's not possible, the US dollar can't be backed by Bitcoin, but Bitcoin can on the other hand be backed by the USD which is senior and has witnessed centuries that Bitcoin has never witnessed. Also, the US dollar is linked to the strongest economy in the world, what is Bitcoin linked to? So don't let us even go there.

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This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing. What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.
Trump is everywhere now, I hope we will rest soon. Cool But I love the way you are not a bigot about this and it's true that politicians can't be trusted, of which Trump will be one of the worst when it comes to sincerity. Was the CBDC possible during Biden's administration, did they even push it, why is Trump lousy about it?

Let's assume that he made good his intention if elected, for how long, won't another government take over after 4 years, so why is he acting as if he will be the US president forever? People should be wise.

As for the advantage of CBDC, there will be wider access to the USD globally. But the disadvantage is that it will kill many financial services.

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Will Bitcoin become better if any of these become possible?
No, Bitcoin will not be better and may not be negatively affected either because CBDC is centralised and Bitcoin is decentralised, they serve different purposes.
member
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July 31, 2024, 09:13:04 AM
There’s no reason that bitcoin will be backed by USD as both have opposite currency feature. While USD is solely controlled by the government, bitcoin is never controlled by any third party except of its user or hodler. If ever the time comes that will be possible, maybe we are not talking anymore about bitcoin but USD in the form of its digital currency.

 Yes I agree, Bitcoin runs on a different market than USD and we think they will continue to be at odds, considering that USD follows a government system and where Bitcoin runs on a decentralized market, it can be said that no one can control Bitcoin, and this is the Cryptocurrency market where Bitcoin is far superior in every way we know.
sr. member
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July 15, 2024, 10:56:07 PM
This will never be possible, as Bitcoin is not regulated by any authority and its demand cannot outstrip its supply. Moreover, no country's government controls Bitcoin, the demand for Bitcoin is currently much greater than the supply of Bitcoin. If the US dollar is banked with Bitcoin then the position of Bitcoin will worsen, although it is not possible, but I think that the value of Bitcoin will decrease a lot. That is why it is never possible and the value of Bitcoin will always be high and no one has the power to lower it. Also, Bitcoin is not a property, and if the US dollar is with the bank with the Bitcoin, then it would certainly become property, and this is never possible.
legendary
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July 15, 2024, 06:42:20 PM
Well, the idea of backing the US dollar with Bitcoin is interesting but very difficult. Bitcoin has a limited supply and is usde worldwide, which could help the dolllar. However, Bitcoin’s value changes a lot, and it uses a lot of energy. There are also many rules and security risks.

Changing to a Bitcoin-backed dollar would needs big changes in laws and systems, and it’s unclear if there’s enough political support. Politicians like Kennedy and Trump may talk about this to get attention, but making it happen is much harder. If it did happens, it could make Bitcoin more accepted and drive new ideas, but the path to get there is very complex.

I don't think the USD will be backed by BTC. It's nearly impossible. This is only a pipe dream for those obessed with the cryptocurrency. We need to face the fact (reality) that Bitcoin is limited by design (both as in max supply and network performance). It will get better for sure, but not to a point where it will replace VISA or other centralized payment processors. It won't be able to replace Fiat either. Governments simply won't allow this to happen.

I'm fine with that as long as BTC proves to be a reliable alternative that's decentralized and truly censorship-resistant. The recent approval of spot ETFs in the US and abroad, will further propel the cryptocurrency's price to the moon. Hopefully, the Blockchain itself doesn't get compromised in the long run.
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June 20, 2024, 09:38:49 AM
Quote from: Kalchef
Will Bitcoin become better if any of these become possible?
Since government and politicians are not the one controlling BTC, it will not be possible for all those things to come to reality because they only have power to control decentralized currency and dollar, they can make it better or worse to their citizens.

You can research to know when the price of BTC is coming from and where the price is right now, I believe you will agree with me that BTC will continue to get better to allow those that put their money to earn a good profits that will make them to continue to choose BTC among others cryptocurrencies.

That is why is very good to have knowledge of BTC before going into the business, because it will be difficult for people to deceive you with fake information that will discourage you from BTC business.
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June 20, 2024, 09:10:50 AM
Well, the idea of backing the US dollar with Bitcoin is interesting but very difficult. Bitcoin has a limited supply and is usde worldwide, which could help the dolllar. However, Bitcoin’s value changes a lot, and it uses a lot of energy. There are also many rules and security risks.

Changing to a Bitcoin-backed dollar would needs big changes in laws and systems, and it’s unclear if there’s enough political support. Politicians like Kennedy and Trump may talk about this to get attention, but making it happen is much harder. If it did happens, it could make Bitcoin more accepted and drive new ideas, but the path to get there is very complex.
hero member
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_""""Duelbits""""_
June 19, 2024, 04:44:54 PM

What must have prompted them to compel their citizens not to use crypto is because they are afraid that, crypto might one day take over their currency, even as I flatiron keep striking. Traditional fiat currencies are likely to experience inflation but aside scam crypto coins, the rest are can much more profitable when you study the market carefully before making any drastic decision that could lead to financial breakdown.
But in the end something like this will also not have a big impact and is sustainable because after all, it is very difficult to force people not to adopt bitcoin even if it starts with government regulation.

We have seen conditions like this happen in China and not even once but many times. But in the end, the development of bitcoin which is difficult to control makes the ban regulation not go according to plan even though the perceived impact remains when China tries to ban bitcoin but the resulting impact is still unable to drop bitcoin so that in the end the situation remains the same and nothing is different.

By looking at a situation like this, I think trying to ban bitcoin again will ultimately result in the same result where the impact that will be generated is not as big as expected which makes them try to get back close to bitcoin and even try to adopt bitcoin as an approach that is actually more effective than banning it.
hero member
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June 19, 2024, 04:19:51 PM
Is bitcoin now an anti government because that is only the reason why we should ever consider any such possibility as a positive sign for bitcoin, but for now as best as we know, bitcoin is just acting as an alternative to the central bank currency which is the traditional financial system which have alot of limitations.


But then also it almost impossible to have such situations since bitcoin would never be backed by the US dollars on a centralised mode.
legendary
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June 19, 2024, 04:13:15 PM
It's not fiat, it can't support bitcoin, including dollars, Bitcoin doesn't depend on fiat. Currently, many people doubt this, so there are opinions about the badness of Bitcoin. This is a stupid thing. In my opinion, there's no need to waste your thoughts on things like that. Bitcoin stands alone and cannot be linked to anything, including fiat.

With how centralized the crypto market is, we could say BTC is heavily-dependent on Fiat to survive. Even if the cryptocurrency is decentralized by design. The approval of spot ETFs has made matters worse. I've noticed that the strengthening of Fiat currencies (particularly the USD), has has a negative effect over crypto market prices. A weakening USD should be able to turn things bullish again.

Technically-speaking, Bitcoin will get better. That's assuming developers (and the community) continue to support it. BTC has done well over the past 15 years, so I'm confident it will last another 1-2 decades. Perhaps, even more. We can't predict the future, so lets hope for the best. Smiley
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June 18, 2024, 05:13:01 AM
It's not fiat, it can't support bitcoin, including dollars, Bitcoin doesn't depend on fiat. Currently, many people doubt this, so there are opinions about the badness of Bitcoin. This is a stupid thing. In my opinion, there's no need to waste your thoughts on things like that. Bitcoin stands alone and cannot be linked to anything, including fiat.
hero member
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BTC to the MOON in 2019
June 17, 2024, 05:59:57 PM
What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?
It won't be possible. Bitcoin is made to gain freedom from any group or entity, that's why it comes with a decentralized nature so that any third party cannot access one's bitcoin ownership except the owner itself. And if there are chances that bitcoin will backed USD, certainly no. Although no one holds the future with bitcoin, but as long as bitcoin remain decentralized, USD and other currencies will never be successful in getting bitcoin to back up them.
hero member
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June 17, 2024, 05:02:26 PM
The biggest liars of the century are from the politicians around the world , once they get elected they do something else.
Keep in mind politicians are the reflex in the mirror of the citizens from their respective countries. Politicians are to be blamed, but if they are able to have so much influence and reach the power positions they are currently in, you have to blame some other people as well...

Bitcoin won't become better because it's endorsed by politicians or governments. Bitcoins exists and works independently of political propagandas, and it has been always like this since the beginning. Probably that is why it has been working so nicely so far, and I hope it still continue working this for a long time yet!

The impact of politicians over Bitcoin, as I see, is the fact they have influence over a lot of people's actions. If they tell people to behave somehow, they immediately follow the orders. Then we could speculate that if politicians ordered people to use Bitcoin, they would adopt it on the same moment, what would have effect over Bitcoin's demand and price positively. The question is, why would they do this? It doesn't seem to benefit them in anyways.

We know that Bitcoin cannot be linked to politics. Just because politicians say something about Bitcoin while talking does not mean that Bitcoin will continue on its way or not. Generally Since they like to talk about every subject, it is natural for them to talk about a popular and proven entity.

I don't think Bitcoin investors will invest based on the opinion of a political person. People who invest in Bitcoin are generally people who do their own research and act in a planned manner. Of course, not all investors are the same and there are people who will invest with the guidance of politicians, but the investors I am talking about are real Bitcoin investors.
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