Will Cryptos turn USA into third world country?

shaw1

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Sure.

I'll let you have that one.

Let's say that they are double what they truly belong at.

That means crypto as a whole only needs to gain 500X its current value to match the US's *True* stock evaluation.
And almost 5000X to attain the same net worth as the united states.

So that would put bitcoin at being worth 3,000,000 USD, right?
If you truly feel that way, check out my signature for a leveraged exchange. Wink

You can open a margin trade on bitcoin. 10X leverage on 2,000 USD right now would net you 100 million dollars if that prediction comes to fruition.
Go for it. I dare you. Wink

KingScorpio

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Quote from: shaw1 on June 20, 2018, 06:22:48 PM

Quote

Of course not, that's a weird statement. One small thing like Crytos will turn the United States into a 3rd world country. The crypto market cap is like 500 million, and it's spread all around the world, and the market cap it's not really based on 500 billion, but what the last person paid for the coin. So if somebody paid $2 for a shit coin that sells for .00001 penny, bringing it's marketcap into the billions, it doesn't mean that billions of dollars has gone into said coin.

Really good way of saying it, in my opinion.

Crypto lacks a *lot* of liquidity right now, and a lot of the lower cap coins can almost completely be discounted. Given a few thousand dollars worth of bitbean, (as an example), you could dump, and make the price tank really hard.

I'm sure it would end up recovering, somewhat. But you aren't going to get anywhere remotely close to the 13 million dollar market cap that is listed on CMC, before the coin is completely worthless, and no one wants it.

US Stocks total market cap ~25 trillion, say.
Crypto total market cap ~290 billion.

So now I guess all crypto has to do is multiply itself by 1000, and then it will match the stocks of the US.
Another 25 trillion in land value of the USA.

Isn't our net worth like 123 trillion?

Yeah. Good luck with that pipe dream about crypto beating the USA up.
For every overzealous patriot flag waving, there's foreign idiots who don't have a clue about anything.

us stocks are in a bubble situation though.

shaw1

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Quote

Of course not, that's a weird statement. One small thing like Crytos will turn the United States into a 3rd world country. The crypto market cap is like 500 million, and it's spread all around the world, and the market cap it's not really based on 500 billion, but what the last person paid for the coin. So if somebody paid $2 for a shit coin that sells for .00001 penny, bringing it's marketcap into the billions, it doesn't mean that billions of dollars has gone into said coin.

Really good way of saying it, in my opinion.

Crypto lacks a *lot* of liquidity right now, and a lot of the lower cap coins can almost completely be discounted. Given a few thousand dollars worth of bitbean, (as an example), you could dump, and make the price tank really hard.

I'm sure it would end up recovering, somewhat. But you aren't going to get anywhere remotely close to the 13 million dollar market cap that is listed on CMC, before the coin is completely worthless, and no one wants it.

US Stocks total market cap ~25 trillion, say.
Crypto total market cap ~290 billion.

So now I guess all crypto has to do is multiply itself by 1000, and then it will match the stocks of the US.
Another 25 trillion in land value of the USA.

Isn't our net worth like 123 trillion?

Yeah. Good luck with that pipe dream about crypto beating the USA up.
For every overzealous patriot flag waving, there's foreign idiots who don't have a clue about anything.

TheCoinGrabber

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I would say it'll have its position threatened. After all, it's power rests on the dollar and the military that maintains. There are rumors going around that both Russia and China are working to bring back the gold standard, which would be a slap on America's face.

As for immediately turning into a third world country, I don't think so. Bitcoin for example, as it was envisioned, is to encourage freedom of transaction.

BronxCats

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Of course not, that's a weird statement. One small thing like Crytos will turn the United States into a 3rd world country. The crypto market cap is like 500 million, and it's spread all around the world, and the market cap it's not really based on 500 billion, but what the last person paid for the coin. So if somebody paid $2 for a shit coin that sells for .00001 penny, bringing it's marketcap into the billions, it doesn't mean that billions of dollars has gone into said coin.

UnknownTraders

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Just a thought - even if you bought Bitcoin at 20k in Venezuela, you're still better off than if you just held Bolivars.
When btc was at $20k a btc in Bolivares was 3 billion Bs., now with the btc at $6700 a btc in Bolivares is 17 billion Bs.

sakahayang

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Quote from: KingScorpio on June 19, 2018, 01:43:39 PM

No country is more vulnerable to cryptocurrencies than the centre of the liberal empire. the US sole existance is founded on the opposition against the nazis that seeked to established a regional banking cartel, with cryptos the us is basically being peaked into its achilles verse. the us kongress can't justify having a banking cartel wich it only could with national socialism, but thats the declared devil of the usa, and so we all will se the collapse of the once big global liberal empire into a tribal society.

as soon as the usa, loses its functional financial system, the us military becomes a poor house, similar like the soviet union's red army become when it lost its currency monopoly and had to switch towards countless national currencies and the russian rubble

it will lose its dominance over the world's oil trade, without the us petrodollar,

china then will have to find new customers for its goods, which it might find easier in europe but also in africa, india and the middle east, although unlike europe the other regions are more bussy developing their country and stabilising it than, consuming goods.

how do you think will the usa transform due to cryptos?

Will bitcoin be evaluated then in chinese yuan, or japanese yen, or euros?

regards

USA must have its own strategy in managing its finances. USA is doing this because of the condition of the country.
look at opportunities in the world of crypto, then USA should do it all. the goal is to improve its finances.

shaw1

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I'm sorry.

I'm not following the logic.

Quote

Usa stepped out of un human rights council stuff like this should be noted they did that for a reason cryptos

Did you miss the press conference?
Whether or not you agree, the US pulled out of the human rights council because the other countries don't like Israel.

I missed where they talked about cryptocurrencies, during the whole "human rights" discussion. Seems a bit off topic to switch to blockchains when your conversation is about genocidal regions, and antisemitism.

The trend in this thread, is that any thought you seem to have, relates directly back to the United States crashing and burning.
I'm wondering if this is an intellectually honest question, or wishful thinking on your part?

No. Bitcoin isn't going to destroy the USA. And it is certainly not going to destroy the USA, and leave everything else intact.
Whether you like it, or not, if America goes down, probably everyone is going to go down.

Not saying it *should* be like that. But the world is pretty interconnected, anymore.

KingScorpio

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Quote from: neliawesome on June 20, 2018, 12:40:26 AM

The US government will not allow for sure that their country will belong to third world country.Crypto doesnt affect the economy of US because they are not that dumb that they will let their power down.For me since the beginning US wants to rule the world, if they will be a third world country they cannot do everything they wanted.

I dare to think differently messing up.with a countries financial system changes a lot

Usa stepped out of un human rights council stuff like this should be noted they did that for a reason cryptos

neliawesome

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The US government will not allow for sure that their country will belong to third world country.Crypto doesnt affect the economy of US because they are not that dumb that they will let their power down.For me since the beginning US wants to rule the world, if they will be a third world country they cannot do everything they wanted.

cherryscarlett

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Power the World for FREE

I don't think so, because the United States still control the encryption the money market, when the United States has a new law, then other countries will be making a similar law system immediately, so I think the United States still control the pricing power of the entire market.

randythered

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While the dollar is largely responsible for the success of the US, its economy and its position as a world leader it is not as important as other things. For example their military persuasion. Without such a large military presence across the world they'd not be in such a position of strength. Couple that with a willingness to always do what's in the best interest of themselves (they may claim otherwise but it's not true) and that's why they'll continue in such strength. OH and don't forget that a large majority of their population support this because they're oblivious to the lies etc.

Nerman

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I do not think any crypto currency will make any country poorer or be turned into a third world country. Also FIAT value are declining every year. It has nothing to with crypto currency.

As we all know US Dollars is widely used worldwide and so are other currency. I do not know why are you asking if Bitcoin will be evaluated by other currency because it is being evaluated by other currency as well. Go to Japan and they evaluate Bitcoin by Yen.

Leyss

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I do not think that the crypto currency will somehow affect the US economy so much that it will be able to cause it significant harm, and so much to turn this advanced country into one of the countries of the third world. The US government is pursuing a rather tough policy with respect to the crypto currency, defending its interests and prohibiting or restricting its circulation, if they believe that this must be done to protect its interests. In general, I think that the crypto currency is not capable of causing any significant damage to any state if the decentralized crypto currency is only able to walk in parallel with the national money. And the SEC has recently recognized bitcoin and ethereum only as a commodity.

KingScorpio

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Quote from: pikapay on June 19, 2018, 09:26:35 PM

> even cryptocurrencies among themselves are not capable of peaceful coexistance

That's a proxy war (i.e. the innocent people getting killed in Syria are not the ones behind all the fighting).

I do agree that the world will never agree on one blockchain, but the diversity is a strength, strength in numbers, remember?

already starting

stepped out of human rights council

http://www.tagesschau.de/ausland/usa-menschenrechtsrat-105.html

pikapay

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> even cryptocurrencies among themselves are not capable of peaceful coexistance

That's a proxy war (i.e. the innocent people getting killed in Syria are not the ones behind all the fighting).

I do agree that the world will never agree on one blockchain, but the diversity is a strength, strength in numbers, remember?

KingScorpio

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Quote from: pikapay on June 19, 2018, 09:15:07 PM

Here's one problem with the U.S. approach and it's not just crypto:

Crypto in the Kill Zone
https://www.bitcoinwednesday.com/crypto-in-the-kill-zone/

It's about Regulatory Capture.

I personally think it's important to aim for a peaceful co-existence between the decentralized cryptocurrency and fiat systems, but agree it won't be easy getting there.

there cannot be a peaceful coexistance between cryptocurrencies and mission regulated central banks, only if the greed of both parties is beeing fullfilled by the working population that will be burned in the process.

even cryptocurrencies among themselves are not capable of peaceful coexistance. its a nonstop Information war.

pikapay

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Here's one problem with the U.S. approach and it's not just crypto:

Crypto in the Kill Zone
https://www.bitcoinwednesday.com/crypto-in-the-kill-zone/

It's about Regulatory Capture.

I personally think it's important to aim for a peaceful co-existence between the decentralized cryptocurrency and fiat systems, but agree it won't be easy getting there.

KingScorpio

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Quote from: shaw1 on June 19, 2018, 08:01:09 PM

Quote from: First77 on June 19, 2018, 02:23:24 PM

Only 8% Americans or 25,000,000 Americans have Bitcoin and bitcoin growth has stopped after super-HYIP profits of $1 to $10,000

Plus one, for this one. You guys think we're crazy deep into crypto? Cheesy

There aren't that many free thinkers of us out there.

Quote

immigration is reason why us economy is stable, and gets supply with labour,

i expect bitcoin and cryptocurrencies to basically wreck the usa as it is. it will lose its world super power position and collapse like the soviet union

Dude. I really don't think you studied the cold war that well. I'm pretty sure the Soviets lost because of their lack of a free market system. (Far away from what Cryptos are. True free markets.)

So yeah. As the USA gets farther from free markets, then we get more susceptible. But we are Waaaay away from that.

Immigration keeps our economy stable?
Are you high?
Not even answering that.

Cryptos work with free markets very well.
ALL countries are going to face this issue someday. Not just the USA. The ones most compatible with its ideals will be hurt the least. That stands to reason.

So I'd be more worried about China, Russia, the middle east, South America, etc... Wink

cryptos will fuck your heads up, leech the economy until no one wants to work anymore.

at least thats what i assume why work when you can create money out of nothing?

people are already creating alternative indexes.

shaw1

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Quote from: First77 on June 19, 2018, 02:23:24 PM

Only 8% Americans or 25,000,000 Americans have Bitcoin and bitcoin growth has stopped after super-HYIP profits of $1 to $10,000

Plus one, for this one. You guys think we're crazy deep into crypto? Cheesy

There aren't that many free thinkers of us out there.

Quote

immigration is reason why us economy is stable, and gets supply with labour,

i expect bitcoin and cryptocurrencies to basically wreck the usa as it is. it will lose its world super power position and collapse like the soviet union

Dude. I really don't think you studied the cold war that well. I'm pretty sure the Soviets lost because of their lack of a free market system. (Far away from what Cryptos are. True free markets.)

So yeah. As the USA gets farther from free markets, then we get more susceptible. But we are Waaaay away from that.

Immigration keeps our economy stable?
Are you high?
Not even answering that.

Cryptos work with free markets very well.
ALL countries are going to face this issue someday. Not just the USA. The ones most compatible with its ideals will be hurt the least. That stands to reason.

So I'd be more worried about China, Russia, the middle east, South America, etc... Wink

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