Bitcoin Forum

Why focus on bitcoin price right now? focus on fiat: The quarter of a quadrillion dollars of world debt. The trillion dollars of debt the US alone adds each year. This is what to be looking at, because this is directly what gives bitcoin it's value.

Very true. Understanding Bitcoin is only part of the equation, you also need to understand government corruption, how the economy is driven, and how money is created.

Bitcoin would be a rather unnecessary curiosity if governments really worked for the people, the economy wasn't dependent on ever increasing levels of debt, and private banks weren't allowed to create money through lending.

Once you understand everything it becomes very clear that not only is bitcoin a necessity in this world, but one of the few hopes that the people (labor) have over the rich and powerful (capital). Any who deride Bitcoin don't have an overall understanding of the elements listed in my first paragraph, or would benefit from Bitcoin's demise. That is why you don't need to listen to the naysayers, just educate yourself instead until it all becomes clear.

Yes. If the economy was healthy and fiat was a good system bitcoin wouldn't have any value at all.
Think about that.

If only we share the same sentiment with everyone. They view bitcoin as an instrument or investment to make more fiat. They will see bitcoin's value when they experience the crisis caused by the hyperinflation of fiat.

Those making fiat with bitcoins get it - at least they are minimizing the fiat devaluation with more fiat. Those who trust in fiat and think crypto is a joke are the ones in trouble.
Afaic, the bitcoin price is a mirror reflection of the health of the fiat system - and my fucking God does it look bad.

Most people will lose everything before they notice or are motivated enough to learn. Take Venezuela for example, you won't hear anything about it through the media, but there would have been a good minority of people who saw it all coming and left in time, as well as those who saw it coming and made sure they had only assets instead of their government fiat.

However, Bitcoin is the ultimate asset because it can't be confiscated and can be smuggled across borders with ease. I keep telling people imagine if, instead of gold and precious gems, the Jews prior/during WW2 had bitcoin. Not only could the ones who left taken all of their wealth, the Nazis would not have been able to steal the wealth of the ones who remained and therefore could not have prolonged the war with that wealth.

Right. Instead of looking at Bitcoin being worth $5000 today, one could also say that a dollar is worth $0.0002 now.

I wasn't there myself at that point, but I read some articles where legacy news outlets were wondering how something like Bitcoin could be worth $1, the same amount as the USD. It's not backed by the government, created in a fraudulent manner, and there is no way it can go up even more. Boy, they couldn't be more wrong.  :D

The "positive" side of the printing presses working like never before is that money is so cheap, that institutions are more likely to buy into risky asset classes such as Bitcoin.

I think the community know this for sure that's why they have invested on bitcoin or crypto in general.

And we have been calling this for the last 3 years or so but it seems people don't know the truth about the world debt or something that could have help them in time of financial crisis until it's too late.

So let's spread the love, sooner or later we will see bitcoin going up to the moon again to give us value and all those fiat suckers, will be left in the closet.

Fiat is being regulated and manipulated so people focus on the value of Bitcoin. It's where people see and experience financial freedom so we can't blame everyone if they focus on cryptocurrency.
I'm sure that everyone is aware of what is happening in Fiat, it's just that they're also aware that they can't do anything about it.

Since some of us could not analyze the market or understand how this world debt work we have to focus on the technical issues of bitcoin and others cryptocurrencies.  how many here knows how debt affect a particular currency?  I think we would just invest base on the inherent knowledge we have.

Indeed most people here focus on crypto price and they should somehow focus to get more coins and hold them until they think make a good profit or until they need urgent extra money.

That's right. And the world collapse is near. The Fed and ECB want to print more money for bankers, they're gonna ruin 3 to 4 generations forward.

Our kids and grandkids will grow up in debt. It's absurd.

Fractional reserve banking and endless money printing need to stop now.

I agree. No one will miraculously change their opinion overnight unless something extreme happens(Collapse of the banking industry etc) which could lead to an insane demand for BTC and push its value through the roof.

I feel its only a matter of time before the world realizes the true value of BTC.

In this world, you don't have the right to judge people and also tell them that they are focusing on the wrong things. The reason why I'm telling this is because of we all people have different stuff we encounter every day. We also have different surroundings and circle. If you think you have a nice thing you spend your focus with, then that's nice for you. Just imagine a person that is focusing on fixing a bike. His goal is to fix the bike and give it to his child so his child could enjoy riding it.

Why focus on the negativity though? do you want us to stress out ourselves?

Don't focus to those negative aspect of life that you can't control.

People are so into cryptocurrencies in the past 2 years because they've seen an opportunity and they are still believing that it has a huge potential in the future. It's true that Bitcoin is backed by a $ currency but you must understand also that not only the people who have dollars can get Bitcoins, it was made for all.

I do not know. Who from all of you, commentators do really care of USA's debts? I guess that's only USA's problem. But how many from you guys check bitcoin's (and not only) price like daily?
The reply is easy, different people focus on different things and for many of crypto users bitcoin's price is on the top of the world.

It is the main driver what makes bitcoin a choice to consider, more and more people are worried about the currently used fiat systems and would seek a way out in bitcoin. The more trust bitcoin gains the higher its value will be.

The world debt is a quarter of a quadrillion usd. The USA is but a mere fraction of that. Pull your head out of your ass, it's not just the USA's problem.
When Nixon took the usd off the gold standard, destiny of collapse was put into motion. When Reagan cut taxes and bought expensive military toys with debt, this was the true beginning of the end. Soon, we shall see the end.

Everyone can focus with whatever they want. And since you're in a bitcoin forum, expect that majority of the people here are likely to focus with bitcoin, altcoins and anything that's related to crypto. Focusing on fiat, through saving more fiat?

What gives value to bitcoin is the people that gives the demand on it. Bitcoin doesn't have debt and isn't owned by any country that can declare inflation or crisis.

The fiat debt will gives more power to bitcoin, people will find a solution to avoid the inflation and  in the end will go to bitcoin, for now people focusing on bitcoin price because they only think for short term, now we need to focus on the bitcoin growth, legalisation and the usage expansion

I am focus to save more bitcoin in many ways, and I am focus to make more money too ;D
We have a different focus, and some of us focus on one thing and the other focus on another thing.
But maybe we have one same focus which is we want to make a lot of money from cryptocurrency, and that is why we are gathered here to search for a way to save more and more.
Bitcoin and altcoin will be our way to be the focus and reach our goals.

right, many who think about joining the bitcoin business can easily make money in a short time. they don't seem to care about the essence of bitcoin. so that if the price is not as expected, panic starts to appear. and price becomes their focus

I'll keep my bitcoins and cryptos as they are right now thank you. If you focus on fiat and the global debt, you would miss out on other opportunities to hedge the value of your money today, resulting into losses which you may have easily prevented had you not focused on the rising debt of the world. Bitcoin is already a great asset to hold during these times, same with gold and other precious metals. If one has to buy before the collapse happens, well ultimately they're the ones who would survive the mess so yeah, I'll take my bitcoins, please.

for now, bitcoin puts itself in the same position as other valuable assets such as gold. moreover with the increasing number of people who believe in bitcoin, it will make digital money more valuable

But where is that debt comes from? Who is giving all those debts to the world?

The price of bitcoin is not its primary thing for people,its decentralization is what we need in the future to restrict banks from creating paper money and giving us in the name of debt.

You're right. Bitcoin is not something magical internet/deep web money etc. It was born into this system as a response to the disaster of those fiat currencies, so the worse they get, the shinier bitcoin is.

 The more we attach the current value of bitcoin, the more we create aggressive decision. Somehow, bitcoin is really been a great potential asset in crypto world which resembled by many and it also introduced as a promising decentralize coin that accesible to people. And I think it is not a bad idea if we are focusing the current scenario with a consistent deliberation of possible consequences in appropriable way.

So it's better we hold bitcoin, thats what you mean? because dollar may experience a decline in value in few days ahead. maybe it's a good idea, you're right many of us are too focused on the bitcoin market, so we are forget about other external factors. rising bitcoin prices because of dollar falls

Correction : We should look for alternative solutions for that debt behaviour and how Bitcoin can be used to reduce that debt in the future. Give people a new innovative technology that might reduce their Banking "fees" and put back more money into their pockets to pay back their debt or give them a new technology that can be used to fuel new jobs that would help people to become employed.

Unemployment increase the tax burden on middle class citizens, because they need to pay more taxes to pay for social grants to support unemployed people, so by giving people more jobs, unemployment will go down and more taxes would be generated and less social grants would have to be paid. <This will put more money back into taxpayers pockets to pay off their debt.>  ;)

My head is in no one's ass, for a second.
You tell me about all of those American politicians who took debts to satisfy their needs and egos. What do I have with that? Besides the fact that such moves in past had effect on almost all people in the world. Due to their debs Americans made their best to put dollar in the head of all financial system. All countries suffer with that case. That's why alternative currencies, such as crypto attract so many attention today. That's what I'm saying.

Because, bitcoins price is basically reflection of how much people can actually understand what you are saying. If people are going towards the bitcoin (or any crypto for that sense) instead of fiat that means we are finally seeing people fleeing from the never ending debt of fiat currency and than moving towards more legit and more worthy currency which is bitcoin. The bitcoin price is a way for us to see if new people are coming everyday running from that fiat world.

I cash out my fiat whenever I need to pay something but otherwise keep all my money in bitcoin at all times so it is kind of funny to think world debt has nothing to do with that, it has everything to do with it and when we focus on bitcoin price and see it going up we don't just feel happy that we are "richer" but we are happy that people finally see bitcoin as savior and not the devil.

I consider that factor to affect on the value of bitcoin in the future.
One big factor that could affect bitcoin is from the outside news, the crypto space is still small, we need massive investors from the outside.
I'm seeing institutional money to come in the market, anything as the fiat world is having some big trouble.

It is because it's hard for them to accept a digital currency that only few of the whole population of the world is using. They could feel the effects of hyperinflation but only light. They will only come to their senses only if a heavy blow to the economy due to inflation. That is the time they will transfer their fiat wealth to either crypto currency or other types of investments like golds and oils. The poor people will be affected of the inflation first and I feel pity for them if they don't act on their current states.

i think so . focusing on fiat more better than focusing on btc price , fiat demand is more that bitcoin demand and it keep growing

Yes in sometimes people will also know that we are going in a wrong way but only realise that at the end the problem is the guidance is not happening here for everyone to make their life peaceful like doing something so the people who had experience will definitely helpful for the other also.

we need to consider about both the development because the cryptocurrency what is not only important for the life of any what we need to do something better for us in the concentration of normal currency also that's why I am getting your topic to a serious discussion.

You have a point that fiat can lead to the increase of the bitcoin price but you forget that fiat is fully supported by banks and institutions and they keep distracting people from seeing that fiat ecosystem is not viable.
And apart from that, they keep trying on not revealing the disadvantages and the bad news of it, so we can fight them by promoting Bitcoin/cryptocurrencies and the user cases of cryptos that can give in our everyday lives.

People focus on where they could benefit or gain a good profit. We can't force them to focus on something that would just stress them out. They actually focus their attention on Bitcoin which could give them financial freedom instead of debts. If they would focus on fiat, are they going to earn? That's the main thing to consider.

If the debt figures fascinate you so much, you can stare at them all day (and all night)

But it is more likely that you will soon get tired rather than this debt will have any effect on Bitcoin's price. A simple reality check seems to be appropriate here. If the US debt is what gives Bitcoin its value, then why is Bitcoin so volatile given that the debt in question is only rising over time? Really, if they were in fact related, you couldn't possibly expect Bitcoin to crash from 20k down to almost 3k, right?

We cannot completely focus on that, which is more or less like focusing on our problem instead of looking for solution, the debt you said US adds alone the major problem that they need to look at cryptocurrency and see how it can bring solution to it.

Bitcoin is not the problem, but the problem is the weak leaders that we all have that has almost milked us in the aspect of fiat, the fiat section has already gone bad through corruption worldwide and the reason why they keep incurring unnecessary debt is the involvement of third party in the transaction, and if they can apply blockchain technology, I believe they will have a long lasting solution to it.

People nowadays prefer to focus on something that give solution to their financial problems rather then than stressing themselves on the debt their nation accumulated. Bitcoin and other cryptocurrencies offer this kind of solution because it is decentralized and far from the control of governments. Focusing only on government-controlled fiats and the national debt will only give you stress and make you seem hopeless for this situation. Just keep on paying your taxes and your share in helping the government is done.

I myself have the focus of having more fiat than bitcoin because at one time bitcoin will definitely be replaced by something more useful and of course bitcoin will be worth no more
but for now bitcoin is more focused than gold, so we have a similar focus but some people see opportunities in bitcoin and have many assets in it

Fiat actually have no value even now but bitcoin have its worth,OP doesn't say bitcoin don't have value the prices were increased by the inflation not due to its potential but this is wrong statement in my view because if the prices were increase due to inflation then the growth needs to be same as inflation rate.

Perfect question to ask OP, of what use is it to focus on what has put a lot of people in abject poverty ?
All the focus we have set on fiat, we still end up entering debt, with the focus great countries like United states has add on fiat, is that not big debt they are still owing ?

So, we better leave people to focus on what will give them a life, bring them out of poverty and maketransactions easy for them without having to pay so much to even use fiat. If government really wants to get help and get out of their debt, instead of writing cryptocurrency off, they should first explore the option and see if they will get an answer.

As far as we have cashless policy in the sector and online payment system, Bitcoin will always be the lead amongst them all, it is even cash that I see loosing relevance soon but not completely because everyone is virtually getting introduced to BTC and using it in one form or the other for payment purpose and this is how it will continue to spread all over the world. The fiat you have been more focused on, how far has it solved your situation ?

The only set of people I see not buying into the idea are people that lack the operation of technology and illiterates that will rely more on cash to something that has to do with technology.

The trillion dollars of debts by US alone is quite intriguing. When all the money in the world is pegged on your currency, how do you incur that big of a debt? I really don't understand who does the world owe this money to? When we are all about producing it and giving it value?

Do you realize that the value of a fiat currency is derived from its debt?? There are other things as well, but majorily from debt since the time economy has moved out of the gold standard! The more debt a country has, more more valuable the fiat will be!

Didn't you see China is trying to exploit this exact weakness by offering unsolicated billion dollar debt to their neighboring countries? This is how the current economy is measured and I don't think this is linked with the crypto price diretly!

It is hard to believe that Bitcoin will be placed with something else in the nearest future. Cryptocurrencies are young, and they have just started their development. I prefer to invest in crypto.