Bitcoin Forum

Can Bitcoin provide a way out of the world's debt problem? The current fiat world incentives debt through currency debasement and cheap debt. Too much debt can be a problem for long-term productivity and raises questions about sustainability.

Is bitcoin a possible solution to this mess? If more and more people start going from fiat to bitcoin, can we at least end up having a soft landing when shit hits the fan? Or will bitcoin exascabate the problem instead? Is there still hope for this world?

I am not sure bitcoin needs to solve this problem. And I don't think it can. Bitcoin first and foremost should be a change in people's perception of what money is and how it can work without big institutions and governments. If it does just that, then its purpose is complete.

Bitcoin is a currency of course it's possible, but does all country accept Bitcoin? Not yet except El salvador. They need to accept Bitcoin first as a alternative payment method, so they could buy Bitcoin as a investment and also accept it as a payment from other countries.

Or another scenario they could make Bitcoin legal in their country, and add capital gains tax for cryptocurrency. So, they will got money from the crypto tax to pay their debt and other expenditure.

It won't "solve" debt problems, but does provide an alternative to them.  For all the problems debt causes, it can also be useful at times.  Take mortgages as an example.  Banks need to be able to create new money in order to provide mortgages.  They wouldn't be able to do that if the world stopped using fiat and everything ran on Bitcoin.  I honestly don't think the world would cope if it went "cold turkey" and attempted to give up debt-based economies altogether.  

There will always likely be certain things for which Bitcoin just won't be practical to use, simply because it doesn't create debt in the way fiat does.  Just enjoy the best of both worlds.  Make use of debt when you need to, but escape it completely when you don't.  

Unless if bitcoin become legal tender in the whole world maybe its possible to happen, but sad to say government is very against with cryptocurrency because of some reason that not valid for them. As the matter of fact if bitcoin can cope the requirements to become legal tender maybe it already take over the fiats which is even before when it become so popular and not so expensive like now. But government really don't want this kind of things to exist in the public places or even when it comes making transactions reason why also sometimes the adoption of it is getting slower in other countries.. I don't know in the future if it's still the same.

Not at all. Imho they are not even related.
Politicians love to spend more than the country produces, because that makes them look good in the eyes of those electing them (yeah, most people don't think on long term)

Getting a house or a car on a loan makes a lot of sense, especially as paper money loses value hence you won't pay that much extra.
Credit cards offer better benefits and protection than debit cards. And while most cover then at next paycheck, it's still debt.

Bitcoin solving something that's related to fiat money while fiat money still exists? No.
Bitcoin changing human behavior on long term? Maybe, but small chance.

All that Bitcoin can do is help you not pay all that debt with your money getting less valuable by every passing day. Whether you help yourself or not, it's up to you. Most of "the world" doesn't, hence it won't even help them. Too bad.

Unfortunately, bitcoin was not design to solve debt problem or any problem for that matter. In the beginning it was supposedly used as a payment method, but overtime it grew, becoming an asset class and investors and speculators used it to trade and make money. I guess what it can do is just give people financial freedom from all the profits that they are going to make.

There is a key factor here: Bitcoin is recognized and used by the world's major economies. :) :)

If Bitcoin is accepted, I personally think that the world debt problem can be solved, and I also believe that only Bitcoin's volatility tends to balance。

Bitcoin is the only currency with a truly limited supply, which cannot be manipulated by any centralized organization, thus solving this problem. Through its unique design, it tries to eliminate the trust of established financial institutions in the world. The coexistence of the world economy is essentially balance, the balance of the interests of various sovereign states. The essential issue of balance is trust, and the world economy needs a brand new trust system.

The current fiat incentivizes debt and investment. Bitcoin incentives saving.

We are at near 0% interest rates and need a way to transition out of this debt/investment euphoria. Governments want to do this without crashing markets (or if it crashes at least have a soft landing). Somehow I think bitcoin can provide this soft landing and enable governments to slowly raise rates without shit hitting the ceiling.

Maybe eventually bitcoin gets mass adoption and becomes the global reserve currency. And another 50 years later, the world ends up having another problem - too much saving and not enough businesses taking risks and innovating. Then another global reset and somehow we are back to the fiat world. If we look at what's happened in history, we started with sea shells (soft money) then gold (hard money), then fiat (soft money) then bitcoin (hard money) and maybe eventually we'll be back to fiat (soft money).

That really doesn't solve the reality of what's been happening to our world economic debts, because it's just an asset that's used in a trading business. People only depends on the changing value which bitcoin had, everytime fluctuations varies. Government won't allow a volatile currency to be used for any legal purpose, specially when taking about the world's financial concerns.

The world's problem about debt is going to stay forever and it will be passed onto the next generations.

While each individual and country, we're all equal in terms of the opportunity that might be seen through bitcoin. So, if a country sees good opportunity and have a long term vision for bitcoin just as us, then they'll buy because of that long term goal and they might include the possibility of reducing their country's debt.

Well, if bitcoin reached the mythical prize of billion dollars a piece, I think that it can solve of course it's not the problem but that's selfish way of mindset especially if you have a family, are you going to leave a broken and chaotic place to your future generations knowing that you can solve it, of course it's a collective effort but it can always be done.

To some extent, we've got to look at things this way, that the world's monetary and food problems have got a lot to do with population. Its where the issue always starts because, the rate at which population grows and demands increases doesn't meet up with the production rate. No matter to what extent an innovation is brought up to solve the problem of today, the question of sustainability is always going yo be there because, the population problem is left unsolved. Yet, its the simplest problem of all and it would only take humans to listen. Population growth might mean an increased in workforce but, notbonly that, a lot of persons aren't willing to work but, a whole lot of others are too dependent on the government and the notion of its greener somewhere so, uour present location has got nothing to offer is killing us.
Bitcoin might seem a solution for the moment but, its only temporary!

Is bitcoin able to solve the world's debt problems,?? in my opinion, people who are new to bitcoin, I don't think this is possible, because we know the government strictly prohibits bitcoin, and the government also limits the movement of bitcoin, if all governments accept bitcoin, and can make bitcoin a legal currency in under fiat currency, it is very likely that the world's debt will be able to be paid by bitcoin..

I agree, but at that price, I believe it is impossible, but if you have a large number of bitcoins, it is possible. It's like if you find a treasure, which we all know will be substantial, it could make anyone wealthy, and we all know that if the government intervenes, it will be with government funds. However, when it comes to debts, I don't believe it can solve the world's problem, but it can solve personal debts, as the price of bitcoin is extremely high, allowing anyone to solve their debts.

It is what governments, especially small and in debt nations want with CBDCs.

It will be a target of those nations but they will be challenged by IMF and big nations. If stable coin companies can mint their stable coins from thin air, small and in debt nations can mint their CBDCs from the air and pay for their debt. Is it easy as that? Big nations will not accept CBDCs from those financial-troubled nations.

This topic reminds us that why CBDCs are a trend in this word. Governments will spend less resources to mint CBDCs than to print paper or polymer fiats.

It doesn't mean that World's dept is created by Bitcoin and it can solve it. The question is All country will accept Bitcoin. Not fast but slowly when will Bitcoin reach to the moon all county will accept it because there are the many chances to be Bitcoin is source of transaction and investment in future.

if one day bitcoin can become a legal currency as a means of exchange, it is not impossible for this to happen, because with the adoption of the government, bitcoin will automatically be taxed and the proceeds from the tax can go into the state treasury.and taxes from the government. the crypto contributors are not a few that will be obtained by a country because we all know a lot of people who invest from the crypto world and these businesses can be taxed by the government

It won't solve the debt problem of the entire world, but it has got the ability to solve the debt problem of countries. This means the country that adopts the usage of bitcoin will be benefited good out of it.

Bulgaria is the country that holds more number of bitcoins. The volume of bitcoin holding is found high than that of the gold reserve. It was said that Bulgaria can go debt free if it's entire bitcoin holdings were used. Now the worth of its holdings might've grown much high.

Nope! Bitcoin is not designed to create a bankingless economy. It definitely provides an alternative route to hold "store of value" and eliminates the middleman from the process. But eliminating debt from the system is not something bitcoin can do.

A debt less economy means a bankless economy as well. When there is no requirement of debt, there will be no requirement for banks as well. Then whoever holds more amount of bitcoins will become the controller of everything. That's not what we want. It will worsen the wealth distribution inequality situation and poors will become poorer. Bitcoin is not a solution to all financial problems.

Seriously? How do you expect BTC to solve this mammoth problem which will probably never get solved completely? The global debt issues will continue to amplify over time due to various factors in my opinion.

BTC was never designed to solve these kinds of issues. It was developed to take away some of the power from governments and redirect it to common people through decentralisation etc.

The only way an issue like global debt can be fully solved is if factors like corruption etc get eliminated completely which we all know will never happen.

Money (aka Bitcoin) is just a store of value, used to exchange goods and services. Instead of saying "I'll trade you some tomatoes grown in my fields if you will fix my shoes" you could convert it into something that can be exchanged at a later date - coins or paper currency. A currency itself cannot solve a debt problem. Debt is when people swap receiving money now for paying money back at a later date, usually with an interest rate paid. Not all debt is necessarily bad, people take mortgages out for houses and often their home becomes worth a lot more than the money that was borrowed. Debt can be abused however, both by people who borrow without understanding the consequences properly and by lenders who extend credit to people who have limited abilities to pay it back. Many people also borrow money and use it in very wasteful ways which should be frowned upon.

Looking at the current scenario it is hard to imagine that Bitcoin can solve the global debt issues, people are giving unwanted tags which is unnecessary and in the beginning i expected a decentralized market could change the perception of many but as times went by half of the traders depend upon centralized wallets and exchanges and now with institutional investors ruling the market it is a hard to reach that dream.

Didn't know about Bulgaria's bitcoin stash til now. So I searched how many bitcoins they have - https://www.coininsider.com/bulgarian-government-owns-3-billion-usd-bitcoin/. They have about 213,519 bitcoins in possession coming from their criminal busts. That's not bad at all. With the value of btc today, truly, that will be a very good asset if in case they decide to use it to pay their debts. However, we don't know their plans with their seized bitcoins.

The highest percentage of electors are uneducated people and the prays of beautiful lies. People love when they hear what you want to hear and that's all, the whole politics. The most fun thing here is that these electors only think about themselves and their well-being but at the same time believe that there will come a crazy political messiah who will take care of them. People want to lay at the sofa and count the profit.

Okay! Bitcoin is often misused along the word "Blockchain". How the hell can bitcoin solve the worlds debt problem? Do you guys really think that let's everyone buy the bitcoin, hold for years, the price will rise and the world will become rich? The world and economics don't work that way!

Debt problem? Come to think of on how big the cap of Fiat we do have and imagine on whats the cap of Bitcoin? Debt isnt something to be united and each country does have its own debt
which means this would really be paid up personally or by their own and wont be minding other countries debts. Dont think or stress out yourself on minding that BItcoin could solve
world debt issues because there are global problems which is almost impossible to be resolved even with this current generation.

OP is correct that inflation tends to make it easier to pay off debts (assuming the inflation rate is above the interest rate). To the extent that BTC "wealth" encourages people to spend more, this does have some upward price pressure. As others have said and the latest US infrastructure bill proposes, taxing crypto gains generates revenue for the government which can be used to pay off debt (or more likely, just enable more government spending)

I used to be concerned about (government) financial debts, but have come to realize that for each dollar a person, government or entity is in debt another person/entity is owed, so Net Zero in terms of assets/wealth. Yes, one of the parties may end up worse off or better off, but overall, there will be the same amount of net assets-liabilities regardless of if the debt is payed off or not.

Environmental Deficits are much more concerning. I.e. if your family/village/etc. is 100% reliant on your well for water and you consume water at 110% of the recharge rate from rain, etc. then your are running a 10% yearly deficit and will eventually run out of water.

I should note that debts/money creation/monetary policy can have effects on human behavior, but real wealth is created and destroyed by how efficiently and effectively we build and utilize things of value, like a home, while minimizing resource destruction.

I think bitcoin is great in that it has opened up the idea of a different monetary system, but I don't see bitcoin effectively incorporating environmental assets and deficits into its system. Perhaps a future currency will more effectively recognize that things like the Amazon rain forest maintain biodiversity and work as a carbon sink which helps make the planet more liveable for humans, thus making us more wealthy in the long run.  

 

To clear your debts you'll have to work by putting your skills at work by default you cannot do anything with bitcoin - you'll need real fiat to buy bitcoin or using your skills to earn it online.

Don't get me wrong but it's hard for me to understand what's the point of linking bitcoin with fiat debts?

the problem is, how much every platform will give profit. people will take the biggest to make them full of satisfaction.
many people will take the other way to explain about bitcoin, blackmail the new one, make them pay, so that person gain additional profit. so, how much honest people show and help the other people, there are bad person will show that the other easy way from their prespective.

I'd say no not really. The price of Bitcoin still stems from how much we make it to be, and wouldn't really exceed the boundaries such that it could actually affect the debt problem of the world. It can, at most, help you yourself, by escaping the dropping value of fiat, helping you avoid the worst-case situation possible. The debt is still there yes, but at the very least, you wouldn't actually need to earn more to pay it since technically, the amount you earned would still remain the same (or maybe more or less, who knows).

I'd reckon that debt would never disappear or be solved tbh. If it did, that simply means that the world has halted in most sides, both naturally and artificially that it doesn't need to pull out funds from lenders to solve something.

Bulgaria may be an example of how Bitcoin can help solve debt problems, most importantly how to use Bitcoin properly. Bulgaria should not only
confiscate Bitcoins from criminals, however the Bulgarian government could try investing in Bitcoin. If the price of Bitcoin goes up and can make
a profit from Bitcoin it should be able to solve the debt problem slowly, therefore I believe Bitcoin can indeed solve the world's debt problem.
If all countries started long-term investment in Bitcoin starting now, so in the future when Bitcoin price is already high, can be sold to pay off debt.

The world’s major economies are facing increasing pressure, which can be illustrated by the series of policies adopted by various countries in recent years. Imagine using Bitcoin to solve this problem, but more people are needed to use it to achieve this goal.
Bitcoin is the only currency with a truly limited supply, and no centralized organization can operate, thus solving this problem.

By debt/ investment euphoria, I guess you mean the availability of cheap credit due to actions like Quantitative Easing. Why do you think that the governments want to change this? All I've noticed is major economies printing more and more. Maybe i misunderstand. An explanation would be great.

Bitcoin becoming the global reserve currency in purely official terms is something that organizations like IMF will fight tooth and nail. The best bet is with private corporations deciding that enough is enough and they need an alternate to the fiat. During his interaction with Cathie Wood and Jack Dorsey on "The B Word", Musk said that its ridiculous that the cash reserves of Tesla pay out interest (due to negative interest rates). He also endorsed some pretty far-reaching ideas about how government is just a corporation with a monopoly on violence. If you extrapolate those ideas and enough corporations reach the conclusion that they need to do something about it, coupled with the realization by masses that they need bitcoin, bitcoin will become the de-facto alternate to fiat. A global reserve currency for citizens/ netizens.

Debt plays a central role in the fiat system. It is even necessary. Take a look at how debt even played a sort of a redeeming role in the midst of the economic challenges due to the pandemic. Countries are printing money based on debt because the economy is crumbling. This is an aspect of the fiat system which couldn't be provided by Bitcoin.

In an economy built on Bitcoin, there is no way a country could print money out of thin air to save the falling economy. The supply of Bitcoin is fixed. Bitcoin lacks the flexibility of a fiat system which could sometimes be helpful for countries to maneuver a difficult economic situation.

There is debt problem but without debt, problems could have been worse.

No, in my opinion, bitcoin cannot solve this problem, since it works in a slightly different plane and does not participate directly in the real sector of the economy. Inflation, overproduction, debt, offsetting payments, crises, this is not for cryptocurrency. Cryptocurrency has its own functions and methods of solving its problems. The author of this topic does not offer any of his own options for solving the problem of debt with cryptocurrency. He generally wonders if this is possible at all. No, this is not a job for cryptocurrency. Let the states deal with their debts themselves.

Atleast it can benefit those who don't benefit from the massive debt, or those who don't take loan from the system but are still affected by the system of debt or loan taking.
Lots of the things governments and people borrow money for can be solved without borrowing money. Unfortunately, they borrow recklessly and still call it a National loan then take what belongs to people who didn't benefit from the loan to pay the debt.
There are many of us who aren't indebted to anyone... If you want to borrow, make sure you get the view of everyone. People who don't need the debt shouldn't be part of paying it. Besides, such loans are not necessary for development.

A well decentralized and transparent Bitcoin, based on rules and public consensus should make it hard for them to borrow recklessly. The transparency should help citizens know exactly where their money is going to, what it's used for and how it's used.

It doesn't seem possible, but it will. Just as others have said, that bitcoin is not yet fully legal. Many countries do not accept bitcoin as a currency. So, if bitcoin has legally become the world's currency, then bitcoin can solve the problem of the national debt.

The first solution is of course to legalize bitcoin, if the country legalizes bitcoin then there will be many opportunities and new business from bitcoin, this can be a good solution to improve the country's economy even the best solutions of the world's financial system.

for now it will not happen, because the government still hates bitcoin, but if the government accepts bitcoin with open arms, bitcoin can solve the world's debt problems, because the tax received by the government from bitcoin, can be said to be quite large,

I think it is worth noting that we are talking about the US debt and the dollar, because this system of borrowing works mainly for them and is already in a cretic state. As for Bitcoin and the solution to this problem, there is a version that in order to smoothly solve this problem, it is necessary for all the owners of the dollar to abandon it and exchange it for another currency. But the only question is which one? Bitcoin may well be such a currency, but at the moment we see that BTC is becoming less and less accessible to the average person every day, which means if this version works, then it is aimed only at saving the Kurp companies. This is just one of the versions of possible events, but how it will actually be, I think we will soon find out.

NO, but Bitcoin can solve a person’s inability to save money problem, which COULD solve his/her own personal debt problem. 8)

But to become “the solution” for the world’s economic problems, no. The current financial system can only be “fixed” through good policies, or eradication.

bitcoin will not solve the debt of one country, where bitcoin is not real money, and is not included in the debt agreement of one country, and in fact bitcoin is not designed to solve the debt problem of one country, only as an individual investment

I think it will not totally solve the worlds debt problem but posibly be used. If the government legalized it then put a tax on it, it is posible to generate money  that can add to countries finance then eventually solve the debts. Though it was really hard to put taxes on bitcoin.

Debt problems are complicated, the presence of bitcoin is not to settle debts but to facilitate the transaction system so that it does not depend on banks, debt can only be solved with products and services so that the economy increases and can pay debts.

I don't think this is any work of bitcoin because if we are talking about the world's debt then this should basically involve roundabout governments. The money borrowed from their end according to them is for economic improvement

this is not sure if BTC futures will solve this or not, because when the price increases, some people will benefit when the price of BTC increases and vice versa if the value of BTC decreases, it will lead to some people. owe more debt, it's really hard to speculate on this.

Debts are actually created by the governments so they need to solve this with their productive economical policies and if they are going to adapt bitcoin then it may stop the further growth of debts but is there any government announced that bitcoin is their only accepted currency even over their fiat money?

The situation changes only the above things happens in all over the world.

Bitcoin is a currency though not yet generally accepted but is been used for transactions all over the world so to a large extent I will a big YES. Reason been that some major companies transact using Bitcoin and few other countries accept crypto generally so for countries with similar digital drive settling debt using bitcoin will not be much of a problem.

Bitcoin can be an alternative solution for government only if they are willing to legalize it as a legal currency. I can imagine if the government wants to legalize then they can also apply tax rule to anyone who is involved in this industry be it investors, traders, trading platforms or others. Taxes can help them pay off debts, although in reality they won't cover the amount. But I don't think bitcoin can solve the world's debt problem but it can be used as an alternative solution if needed only with the implementation of taxes.

There is hope, and will always be, and when you mean by exacerbate, yes, it is possible that it could also produce problems, and may also produce debt, I do believe that Bitcoin can possibly be a solution, but will definitely not be the answer or main solution that everyone is looking for since it cannot solve the world's debt, it is what it is.

I think not really because Bitcoin's existence become only useful for those who have it and for those who lacks or do not have some within their account or does not know how to manage on using it, of course Bitcoin will not be able to help them at all. There are certain things in this world that will remain unsolved even there is an existence of newly formulated technology or currency like Bitcoin for its existence will not guarantee to end up those economic problems that have already been existing even before. The solution might be cooperation coming from both government and people and not to depend upon into Bitcoin for there are factors needed to be consider resolving to find a solution into the problem of debt.

The ratio of global debt to wealth has run out of control, causing a strange imbalance of wealth inequality, and the world's major economies are under increasing pressure. Banks inject capital into the market to maintain high liquidity and allow banks to issue more loans, thereby increasing total debt.
Bitcoin can effectively alleviate this problem, and it opened up the idea of ​​a different currency system. With its scarcity and decentralized nature, it can truly have a limited supply of currency and cannot be manipulated by any centralized institution, trying to eliminate the trust of established financial institutions in the world and put power back in the hands of individuals.

All countries agree that it will take time to use Bitcoin. Many countries have stated that Bitcoin mining is prohibited, and many people are unable to make daily payments in cryptocurrencies. For example, China suppressed Bitcoin from the beginning and also banned Bitcoin mining. It is a problem for China to change its attitude.

In theory, we can, but when switching from fiat to bitcoin, the one who provided these debt obligations will suffer, because in fact it will be possible not to give it back...there are more questions than answers, many countries will not go to this, because they are heavily stuck in debt.

Bitcoin could possibly solve that world economic problem yet it still has to be accepted first by the government and also most citizens. Everyone should accept and recognize it as a currency first and let it be an instrument to solve such problem. It couldn't solve a problem if big organizations wouldn't allow it.

Bitcoin alone can't solve global debt problem without some drastic measures like arresting corrupt politicians, bankers and breaking connection with big tech corporations.
Benito Mussolini said that fascism is merger of governments with corporations, and we are now reaching new highs of this philosophy, so I am afraid that Bitcoin can't fix everything bad in the world.
However, on personal level Bitcoin can for sure fix the debt of you and your family, and spreading the word will help more people with debt on individual level.
Important rule is not to take more loans for this, don't invest more than you can afford to lose, and don't go with the herd mentallity.

Governmental debt is possible only with fiat currency, as far as I know. When the government needs to take debt, they will issue treasury bonds or treasury notes, ranging from 1 year to 30 years, with a fixed interest rate. Once these bond/notes get to their maturity date, the due payment is made in fiat currency. Such a system is not possible with decentralized cryptocurrency, since government can't create currency out of thin air. It is the miners who create new coins and therefore the government can't issue bonds or notes with a fixed maturity date. And this is one of the reasons why the governments will never allow Bitcoin as a legal tender.

It is possible that the owners of bitcoin wallets can pay a relatively large tax as soon as the government accepts bitcoin but with such a resource, it cannot settle the debts of the world because each country's debt contracts can vary, but in general, interest rates and loan repayments are in cash, specified resources of a certain value that can be redeemed for debt repayment but bitcoin is not a resource that can be covered by contracts and rules. Besides, world debt is a aggravation and not just one country stick to it, bitcoin is unlikely to release debt for all

Nothing can solve the world's debt problem except development. As different countries continue to develop, they pay up their debt. In this case Bitcoin has no role to play. Nothing at all. It's just a currency, no super powers outside being digital.

I think that you are trying to solve a problem with the wrong tool, you can't take out a screw with a wrench, that does not mean that the wench is not useful it mean you need to use a screwdriver, the point is you can't solve problems caused by fiat like debts by using bitcoin, and i don't think that this will change unless bitcoin becomes a globally adapted currency.

For me, it is NO. why? It is because this was a personal interest that brought someone into crypto, not all have a chance to invest and even to earn profit. If someone is in debt because it was their choice and they can find a way to solve it. Though we think that Bitcoin could give them some opportunities, well, if that only if are willing to risk their money. But with their situation, that seems so hard for them to invest. I don't think that they prioritize this thing.

The world's debt problem is a complicated matter, I am not sure to rely on Bitcoin to solve it. Although it is possible, this time is too early to consider it. Let Bitcoin survives and is accepted by all people around the world first. Then, we can see how the progress of Bitcoin development and its possibility to have a role in many aspects of life. In that time, we can consider the possibility of Bitcoin to solve the world's debt problem.

That's how it should be before it will tackle any world problem since it was created for that purpose where we will be free ourselves with any use of banks someday. World debt is on another page of the book and honestly, it does not really related to bitcoin except they're both talking about money. Anyway, there are lots of fixing and needed to clarify about these things, and one of the needed ways to make bitcoins one of the top use payments systems in the world is to adopt and promote it to others that are don't aware of the opportunity it brings.

Yes, it is too early. Bitcoin does not reach all countries yet. Maybe give bitcoin more time to be known in all countries first so people can realize what bitcoin can give to them. But the world's debt will depend on how the countries can solve it and if they still borrow money from the other country, bitcoin does not solve the problem. Sometimes, one country prefers to take debt from the other instead of trying to cover what they need. That government thinks that by taking a debt, they can solve their problem inside of their country fast than trying to solve it with their resources. But that will depend on their policy.

Bitcoin's current goal is to become global currency all over the world, not to give the world's debt solution. Rather concentrate on unusual things better move your concentration how to become successful. I know this isn't a big deal for most people but if you smart enough you know well how to get benefit from bitcoin. However, this volatile currency could change your life.

Bitcoin can provide a solution to the world's debt problem, but it will not completely solve the debt problem.
The central bank continues to inject capital into the market to maintain high liquidity and allows banks to issue more loans, thereby increasing total debt. Bitcoin is the only decentralized currency with scarcity and limited supply. Without a centralized organization, no government agency can manipulate it, which can effectively alleviate this problem.

Here's the thing though, this debts that you're mentioning doesn't have to be paid in money, these debts gets paid in favors, they don't care about the money and they won't accept getting paid in bitcoin even if we have enough money to do so.

I think bitcoin has the potential to solve the problem of inflation in the face of increasing consumption indicators causing the devaluation of fiat currencies. Historically there is no evidence of the ability to settle debts from bitcoin. That year, Venezuela may have gone into the tunnel, but it was adamant not to adopt bitcoin as a defense against those massive debts. Whether bitcoin will be legal tender worldwide in the future but I'm not sure this is resolved and is an effective method.

Maybe by the means of pumping up when bull market happens but not every month is bull run so provably a country can experience the worse if bear season happens since there holdings will decrease for sure and I don't know on how government can handle that situation especially if they are new unto this industry. Let see how all things things works in El Salvador since if they became successful and became sustainable in more years then this should needed to look by other countries.

This is a problem that banks have caused to create profit, to have bitcoin solve it, if it can anyway, is like having someone clean up after your mess. If we are to reinvent the way currency works through the introduction of cryptocurrencies as the main form of payment method that we will use, we may not even have to worry about the debt itself as banks would be obsolete and in any case this should clear out the small debts. Larger debts in the form of loans on the world bank however may require a larger form of effort to be exerted which bitcoin doesn't have to do. Inflation, certainly. But massive debts? It's unnecessary and quite impossible even for something as revolutionary as bitcoin. Bitcoin could at least help a country utilize its potential much wiser and with that comes the potential for an upheaval in the economic sector and a clearing of national debts in the process. This is just my idea of how bitcoin could assist in the debt crisis and I am not quite sure if this is a very viable move that countries could take in the near future.

Unfortunately, Bitcoin isn't likely to be adopted by everyone, and by the time that people start taking notice of it globally, it'll likely be distributed to the wealthy, rather than those that are currently poor. If you take a look at some high profile people, they are likely invested in Bitcoin. I believe Elon claimed that himself, and Tesla have invested millions into Bitcoin, so its likely that the wealth divide will be just as big. However, the early adopters that hold onto their Bitcoin, will likely become wealthy, but I don't think its going to eradicate the debt issue, and the fact that most people of today are poor. 

There is no saving the fiat system and there is no soft landing, once governments lose control of their economies things are going to get really ugly really fast, which is why it is important to prepare yourself before that happens, you do not have to go to extreme measures that we can see some people taking, something as simple as having some gold and some bitcoin can be more than enough in order to help you during those difficult times.

Bitcoin could help once a new system is put in place, the current system which is based on debt and eternal consumption is flawed by nature, a system that is based on a very strong currency and that has such a hard limit on its supply as it is the case of bitcoin can be the cornerstone to create a new kind of economy which is based on more grounded principles.

There are projects that do aim to address the issues with fiat money.  Around the same time I discovered Bitcoin, I also became aware of Positive Money (https://positivemoney.org/).  They advocate some fairly radical changes which could conceivably make debt-based systems more sustainable.  However, none of the views they espouse appear to have much, if any, overlap with Bitcoin.  In fact, they seem rather dismissive of Bitcoin in general, but I suspect that's because they recognise the difference in objectives.

I find it easier to keep a sharp delineation between the two.  Bitcoin will always do its own thing.  While fiat needs to sort itself out.  One absolutely cannot "fix" the other by attempting to blur the lines between the two.  They're at crossed purposes.

To some extent, we've got to look at things this way, that the world's monetary and food problems have got a lot to do with population. Its where the issue always starts because, the rate at which population grows and demands increases doesn't meet up with the production rate. No matter to what extent an innovation is brought up to solve the problem of today, the question of sustainability is always going yo be there because, the population problem is left unsolved. Yet, its the simplest problem of all and it would only take humans to listen. Population growth might mean an increased in workforce but, notbonly that, a lot of persons aren't willing to work but, a whole lot of others are too dependent on the government and the notion of its greener somewhere so, uour present location has got nothing to offer is killing us.
Bitcoin might seem a solution for the moment but, its only temporary!

that can happen, the leaders of countries should buy bitcoin when the price is cheap and hold it until the bitcoin price rises and get so much profit that the country's debt can be paid off. I think investing in bitcoin to pay off the country's debt is the right choice.

You're right. Let Bitcoin be adopted by all countries first, or most countries in the world at least. When Bitcoin can be a legal currency for almost all countries in the world, we can see how the potential or possibility of Bitcoin to solve varied problems in the financial sector. It is probably can solve a debt problem if the governments in the world agree to use Bitcoin together. If the situation on Bitcoin is still the same as today, I doubt Bitcoin can have a big role such as solving a debt problem of the world.