And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time.
Yes, Bitcoin will really work, and will function properly as a currency for payment. IN some countries where it is allowed, it is a very suitable alternative to fiat. It's just that, in various other countries, it is not allowed, in the sense that Bitcoin cannot be used as a means of payment and this is against the rules of a country. So, like it or not, so far, for now, using Bitcoin is only limited as a commodity asset for trading or investment. so it is not intended as an alternative to fiat for payments. So, really, the influence of a country's natural regulations is very high for the development of Bitcoin, like it or not, like it or not, unfortunately they are still quite able to control this. 
Topic: Will Bitcoin become better - page 4. (Read 932 times)
Bitcoin is already better than traditional Fiat currencies backed by corrupt banks and governments. It's just that people are using it as a store of value instead of a currency. Backing the USD with BTC is a possibility. But the US government won't do it (particularly the FED), especially when they will lose the ability to print money out of thin air. They can't manipulate the economy with BTC the same way they do with Fiat. I think that's the reason why they've moved away from the "Gold Standard" a long time ago.
Let's face it. Bitcoin is and will always be an alternative to Fiat. Replacing the current system is only a pipe dream. Will it get better? Yes. But that depends on developers' (and the community's) efforts to keep it the best sound money in the world. Hopefully, on-chain fees will decline with each network upgrade. As long as decentralization is prioritized, nothing else matters.
And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time. Let's face it. Bitcoin is and will always be an alternative to Fiat. Replacing the current system is only a pipe dream. Will it get better? Yes. But that depends on developers' (and the community's) efforts to keep it the best sound money in the world. Hopefully, on-chain fees will decline with each network upgrade. As long as decentralization is prioritized, nothing else matters.
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?
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?
Bitcoin is already better than traditional Fiat currencies backed by corrupt banks and governments. It's just that people are using it as a store of value instead of a currency. Backing the USD with BTC is a possibility. But the US government won't do it (particularly the FED), especially when they will lose the ability to print money out of thin air. They can't manipulate the economy with BTC the same way they do with Fiat. I think that's the reason why they've moved away from the "Gold Standard" a long time ago.
Let's face it. Bitcoin is and will always be an alternative to Fiat. Replacing the current system is only a pipe dream. Will it get better? Yes. But that depends on developers' (and the community's) efforts to keep it the best sound money in the world. Hopefully, on-chain fees will decline with each network upgrade. As long as decentralization is prioritized, nothing else matters.
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?
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?
Bitcoin is already better than traditional Fiat currencies backed by corrupt banks and governments. It's just that people are using it as a store of value instead of a currency. Backing the USD with BTC is a possibility. But the US government won't do it (particularly the FED), especially when they will lose the ability to print money out of thin air. They can't manipulate the economy with BTC the same way they do with Fiat. I think that's the reason why they've moved away from the "Gold Standard" a long time ago.
Let's face it. Bitcoin is and will always be an alternative to Fiat. Replacing the current system is only a pipe dream. Will it get better? Yes. But that depends on developers' (and the community's) efforts to keep it the best sound money in the world. Hopefully, on-chain fees will decline with each network upgrade. As long as decentralization is prioritized, nothing else matters.
Bitcoin has become better without the influence of any parties or else, this will ruin the purpose of its creation. People love to see how it works today while it was not yet controlled by any known personalities and any changes that may happen will also affect the future of cryptocurrency in general. Therefore, if we want to look at Bitcoin better, then we should help to keep it decentralized in order to maximize its features. Or else, we are putting its end and no benefits gains.
Politicians are also businessmen and they want to control Bitcoin and play the market for bigger benefits. Very unfortunate and that is why some of them hate Bitcoin because they can't put it in their hands.
Politicians are also businessmen and they want to control Bitcoin and play the market for bigger benefits. Very unfortunate and that is why some of them hate Bitcoin because they can't put it in their hands.
The bullish season is definitely the season for bitcoin to pump. The government placed restrictions on crypto, they're trying to eradicates scam but we should also know that it's not easy to entrapped our ends. Bitcoin will trigger more bullish run for everyone but we should be careful not to get involved with projects that has do with scams. I know we're trying our best from our end but we should also craved for improvement and become a better status of ourselves in the system.
There is no connection between fraud and bitcoin and that must be straightened out first because fraud is only affiliated with individuals when they run. If the government restricts bitcoin because of fraud then fiat currency must be the main thing to be eradicated because before bitcoin existed fiat currency had played a fairly important role in human life as a means of transaction. There are even many frauds involving fiat currency and much worse money laundering everywhere carried out by greedy people.Separate fraud from bitcoin or fiat currency because it is affiliated with criminal acts carried out by a group of irresponsible people. When we who understand bitcoin continue to say the word fraud, this will actually have a wrong impact on beginners who read it. The system that is running is already so perfect in Bitcoin and will continue to increase from the initial process until now.
You have got a point, actually. Maybe we are too focused on bitcoin being acknowledged by governments and being legitimize that we are forgetting its main purpose and that is to completely separate itself from the government or other institutions. I don’t think it will become centralized in nature but surely institutions will get involved which is what we don’t want anymore as crypto enthusiasts.
The bullish season is definitely the season for bitcoin to pump. The government placed restrictions on crypto, they're trying to eradicates scam but we should also know that it's not easy to entrapped our ends. Bitcoin will trigger more bullish run for everyone but we should be careful not to get involved with projects that has do with scams. I know we're trying our best from our end but we should also craved for improvement and become a better status of ourselves in the system. 
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 politicians say will always be different in their implementation once they are in office. Between words and practice are opposites.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.
You have the answer. That is the habitat of politicians.I can't see anything if it comes from politics because they are people who use the moment to attract sympathizers of pro-Bitcoin voters.
Will Bitcoin become better if any of these become possible?
All of these are just complementary factors. That means Bitcoin will still be the best in the future.Bitcoin spot ETF is one of the results of a proof that Bitcoin is the best even before it was approved, Bitcoin has not changed, aka it is still the best.
Wouldn't being backed by anything make bitcoin a centralized currency?
You have got a point, actually. Maybe we are too focused on bitcoin being acknowledged by governments and being legitimize that we are forgetting its main purpose and that is to completely separate itself from the government or other institutions. I don’t think it will become centralized in nature but surely institutions will get involved which is what we don’t want anymore as crypto enthusiasts.
I don’t see how it is possible for Bitcoin to be backed by the US dollar because the value of Bitcoin isn’t fixed. It keeps growing and could be anything at anytime. This is the second post I see talking about Bitcoin being backed by dollar. Is there an agenda because it won’t work. Only someone who doesn’t understand how Bitcoin works that will think it can be backed by dollar.
That's the same with the dollar, the price of it doesn't really have a fixed value, it moves depending on the demand for it in the global market and the inflation rate so technically it doesn't have a fixed value. It will definitely not work because if you peg bitcoin to the dollar, wouldn't bitcoin become susceptible to the market manipulation and at the same time, the pillars of decentralization would be gone if bitcoin becomes reliant on dollar for value so I'm not sure that better is the word for when bitcoin becomes backed by the dollar. 
everything will have its time, bitcoin and dollars have become a reference for comparison in exchange value.! and I hope that bitcoin can continue to survive, making the dollar value more stable with digital circulation conditions becoming more widely used.
I don’t see how it is possible for Bitcoin to be backed by the US dollar because the value of Bitcoin isn’t fixed. It keeps growing and could be anything at anytime. This is the second post I see talking about Bitcoin being backed by dollar. Is there an agenda because it won’t work. Only someone who doesn’t understand how Bitcoin works that will think it can be backed by dollar.
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.
This is not possible because bitcoin is not centralized or controlled by any central authorities. Bitcoin price is derived from demand and supply and nothing more than that. That is why no central authority have the power to control bitcoin price and the reason for its huge adoption as it is totally different from fiat.bitcoin is a strong digital assets and It will always remain as a digital payment method only its usage will increase. that's it
There would be no reason to back US dollars with Bitcoin because Bitcoin is already a digital currency. So people would just use Bitcoin instead of bitcoin-backed dollars. The reason Gold backed paper money is because Gold is extremely inefficient to use and paper money is much easier to use. But Bitcoin is already digital so there is no efficiency gain from using some other currency backed by Bitcoin, you'd just use Bitcoin. So you get no benefit with bitcoin-backed dollars over just using bitcoin itself, but you get the downside of what if the govt isn't truthful about the dollars actually being backed 100% by bitcoin.
So basically no this would never happen. The question should be, will Bitcoin ever actually REPLACE fiat (ie USD). And the answer to that is likely only if nations actually collapse and new nations are formed with Bitcoin from the start. Because I don't see any govt that controls their own currency abandoning that power to completely switch to Bitcoin. The only exception is probably countries that don't have their own currency or small countries whose own currency isn't used at all outside their nation and so it would make more sense to adopt a global currency (Bitcoin) that would kind of connect them with a larger part of the world.
So basically no this would never happen. The question should be, will Bitcoin ever actually REPLACE fiat (ie USD). And the answer to that is likely only if nations actually collapse and new nations are formed with Bitcoin from the start. Because I don't see any govt that controls their own currency abandoning that power to completely switch to Bitcoin. The only exception is probably countries that don't have their own currency or small countries whose own currency isn't used at all outside their nation and so it would make more sense to adopt a global currency (Bitcoin) that would kind of connect them with a larger part of the world.
I think that can't be? Because, BTC has a limited supply only while traditional currencies has unknown or maybe have an unlimited supply as they have the machine that allows them to print money whenever they wanted to.
But if let's say it is possible for example, then I think the value of the US dollar won't be stable anymore and it now has a chance to rise higher than what it's usual value. Maybe BTC can become better too, in a way that is now more recognized by the banks and governments but this makes it look centralized in which some users dislike. Trump can ban CBDC and if you ask its advantage, I think it can make their dollar currency more stronger. About the disadvantage, obviously US citizens can't use CBDC anymore.
But if let's say it is possible for example, then I think the value of the US dollar won't be stable anymore and it now has a chance to rise higher than what it's usual value. Maybe BTC can become better too, in a way that is now more recognized by the banks and governments but this makes it look centralized in which some users dislike. Trump can ban CBDC and if you ask its advantage, I think it can make their dollar currency more stronger. About the disadvantage, obviously US citizens can't use CBDC anymore.
Politicians love to talk. Kennedy, Trump, and others play to their base by sounding tough on crypto. Bitcoin isnt going away, they know. Using Bitcoin to back the dollar? Thats quite different. Its uncertain and unlikely to happen soon. The powers that be wont easily give up the dollar's status as the world's reserve currency.
Suppose it does. What would that mean? The first benefit is that Bitcoin would gain huge legitimacy. It would endorse the world's most popular cryptocurrency by the government. That could increase demand and price due to widespread adoption. There may be drawbacks. Tying the currency to Bitcoin could cause U.S. economic turbulence. Bitcoin's price swings could affect interest rates and inflation.
Is it possible? Sure. Is probable? Not so much. Even having this conversation illustrates how far Bitcoin has come. That, my friends, is exciting.
Suppose it does. What would that mean? The first benefit is that Bitcoin would gain huge legitimacy. It would endorse the world's most popular cryptocurrency by the government. That could increase demand and price due to widespread adoption. There may be drawbacks. Tying the currency to Bitcoin could cause U.S. economic turbulence. Bitcoin's price swings could affect interest rates and inflation.
Is it possible? Sure. Is probable? Not so much. Even having this conversation illustrates how far Bitcoin has come. That, my friends, is exciting.
Therefore Bitcoin has fantastic value, they are not centralized and no one can control it, this supply and demand is what makes the value even better, but we think Bitcoin is a good choice so far. and not only for some reason that Bitcoin will continue to get better and better.
Absolutely, over the years since it's creation and in the previous halving, Bitcoin has proved itself to be a worthy asset it keeps getting better as the year goes and that's why it influences the price of other Cryptocurrencies. Well the words of those politicians might attract more investors and might even cause more citizens to turn to making investments in Bitcoin but you are right, no individual or business person or even government have control over Bitcoin, it's volatility is what influences it price and it's price would keep getting better which is already proven in different ATHs. Those who knows the potential of Bitcoin are buying more and holding for a long-term instead of having doubts if it would get better, the price of Bitcoin would keep getting better over time, it has a very great potential and it's one of the best Asset to invest on for the future. 
This is not possible because bitcoin is not centralized or controlled by any central authorities. Bitcoin price is derived from demand and supply and nothing more than that. That is why no central authority have the power to control bitcoin price and the reason for its huge adoption as it is totally different from fiat.
Therefore Bitcoin has fantastic value, they are not centralized and no one can control it, this supply and demand is what makes the value even better, but we think Bitcoin is a good choice so far. and not only for some reason that Bitcoin will continue to get better and better.
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?
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?
I don't remember Kennedy or Trump saying anything about the US dollar being backed by BTC.
They said that they won't allow the creation of a CBDC by the Federal Reserve. This has nothing to do with the stupid idea of using BTC to backup the US dollar. This idea has been discussed multiple times on the forum and I don't want to repeat the same arguments over and over again. What do you mean by Bitcoin becoming "better"? Better than what? Fiat currency? Bitcoin is already better than fiat currency, because it doesn't lose it's value in the long term. BTC transactions would be very fast and cheap, if there wasn't any useless shit on the BTC blockchain, like Runes and Ordinals.
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?
I don't think central banks will do or even allow that to happen, that is too risky for them given that Bitcoin is highly volatile. Also I don't trust what politicians will tell us as we all know they are only contractual if other admin will take over they will have different priority rather than this one and I don't think they all of them think the same as Trump who is a pro crypto guy. 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?
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