Bitcoin Forum

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Making some good room for bitcoin?

Dollar can't die because it's not alive, it's undead since 1971. However, the wooden golden stake could be useful.

You think a gold standard will finally take it down? Who will initiate it, eastern powers or IMF/G7?

There is a project of energy backed currency which is proposed as the common currency for EEU nations. With energy backed currency you always have an opportunity to exchange your stash for Kilowatt-hours at fixed ratio. That could be a basis of reliable system.

Of course nations could prefer to use gold standard for their currencies but I think that energy backed currency will be more attractive for international transactions in comparison with golden stanbdard. Gold based system is less adaptive than energy-based system.

Sounds like a good solution. Isn't bitcoin basically backed by computer chips (processing power)?

but energy prices can change substantially; but maybe not more variable than gold or oil

Thank you for the documentary. Very interesting!

Nope quite due to fixed coins supply. There is no direct correlation between the price of coin and cost of used resource. ::)

Will supply restrained; price will more align with cost

You have a good videos, I think that next year will be crucial for the US-EU

Thanks. Agreed; we're tied at the hip and now eastern countries are connected to rival us because we've sort of oppressed them

Gloom and doom video and predictions are getting old.

Did you notice we're not just giving opinions and hearsay?

It would make the doc 50% longer to say

"This statistic came from here, this one came from here, this research study says this." this isn't our opinion.

The dollar should have never been taken of the gold standard because if it hadn't we would still be paying 70 cents a gallon.

It hasn't been a true gold standard since 1912

Yes the fed reserve didn't help the dollar but it wasn't officially taken off till the 70s

Global reserves were convertible until 1971. Before that, US citizens could not redeem FED notes for gold

So if the dollar is like a virus, he has persisted for decades... will it persist with Bitcoin too? I fear it will, it will shape into any form possible to keep going and be the nº1 mainstream currency.

Jim Rickards furthered the idea that Saudi Arabia is the final domino to go:

https://www.youtube.com/watch?v=RVoMSJ4sry8&list=UUcnmdhM3SQEK5-g3kmOjpOg

in a new interview with Casey Research titled Jim Rickards: Obama Ending Alliance with Saudi Arabia and Killing the Petrodollar

Already died, people still do not see it

So, we a re heading back to the ancient Egyptian banking system what was based on grains :).

no one knows for certain

when the dollar is still used as a reserve currency of the world, where the majority of transactions in the world uses the dollar, while the dollar is still the belle of trade transactions in the world, but it could be in the future rival the dollar as the euro or the pound will be excellent, even now only bitcoin many become an international currency transactions, paypal and ebay already allow bitcoin as a means of trade ...  8)

That's just wishful thinking however much one might wish that outcome. US political and economic power while waning is not going to go away anytime soon. We are at least a generation away from a re imagination of reserve currency politics.

It will probably happen by 2018 like we said. You have refuted anything we mentioned

lol 2018. That's pretty optimistic. Better change all my cash into Bitcoins and precious metals before it's too late.

optimistic how?

We can't tell if you think it would happen sooner or later than that.

Optimistic in that the dollar will eventually lose reserve status but 2018 seems too soon. What makes you think 2018? China's push to forefront of global economies?

Everything we mentioned in our 8 minute video.

Plus seeing the west's sanctions on Russia fail, the fake ISIS threat easily exposed in enough of American's minds, rising bitcoin use as well.