Bitcoin Forum

The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.

The Bitcoin was made to be new age gold so Bitcoin never meant to be money!


Its Coming 2020 and yes that will be happening

Gold will not crash with central banks pumping ridiculous amounts of their freshly printed phony moneys into it.

I actually started to like Gold because it's in fact doing the same thing as Bitcoin does (in some areas just not as convenient) before Bitcoin even did it, and it actually serves multiple purposes as metal. It's hard to not like something that has been proven and 'stress tested' for thousands of years and still serves its purpose in today's world.

That being said, I find it hard to believe that the USD will be backed by anything again. On top of that, it's more likely to see a Gold standard rather than a Bitcoin standard because of how much countries already hold of it. You don't want countries to start stacking up Bitcoin. It's only giving them more incentive to exercise control over the network.

If the debt cant be as collateral to back usd currency then it will be Bitcoin for sure

Gold backed dollar, petrol backed dollar and now bitcoin backed dollar. Rolf! dollars are very convenient to just jump around yet remove itself for all unwanted set back, but I don’t see why it wouldn’t happening. About gold, I think it would survive the transition, it’s the metal that survive all apocalypse.

That doesn’t seem very likely to me, a more likely scenario is those countries who are trying to be detached from US dollars will put more gold or Bitcoin into their reserve, I don’t believe this is happening now either but seems more likely to me.

Actually the US dollar is no longer backed by gold. It’s only backed by the US government. I don’t think that will change.

It will not come in 2020 and no it will not come in the years to come either. The last thing that will collapse is the gold. The USA Dollars may collapse in the near future but not the gold. Its value is deeply entrenched in the culture of humans up to the farthest corners of the world.

And Bitcoin cannot become a back-up to existing currencies because it is in itself a currency. And its volatility will make the currency very volatile as well.

This is ridiculous. Although Bitcoin and Gold both have a limited supply, gold is a real asset and it helps quite a lot for human society now. And for Bitcoin, it's just a digital asset, its existence depends on the network and hard drive in your PC. and then, Bitcoin only has a high price because it is expected by many people and it can become a value at any time, because it really does not help our society.

With how much debt the US dollar has accumulated? Bruh moment. Also, Gold? Losing its value? I don't think so. Banks have started accumulating gold way before when the last recession happened. They already expect another to happen, and without something to fall back upon, they would just die upon the coming fo the said recession. With how they expect Gold as backup, you'd think it would actually lose its value? The dollar may collapse and all of that, but gold would never.

Pretty hardcore claim you make there. Have any proof to back up your claim or just rantings from a diseased mind? Well the counter argument is pretty solid that banks pump gold and keep it with the millennial who want it for their future generations. Nobody is going to tokenise USD, other than USDT which has already been created.

Wrong. Satoshi envisioned bitcoin to be a new method of transacting without any middleman involved, making it censorship resistant and decentralized. You need to read the whitepaper again.

Nice job conspiracy theorist. Keep it up and lets see, because if prices rise then its good anyway, even if it falls, we know you wont be there to back yourself up. :D

Stop reading fake news,OP.
USA would rather ban bitcoin,instead of adopting it as a central bank reserve asset.

That idea is too far-fetched it could fit for a fairy tale.

The USA is not so suicidal as to use Bitcoin to back its dollars. Although that is sane to take into consideration, that would be insane for something not neutral such as the central bank.

Gold and bitcoin become most popular payment at the future after Moslem country community last meeting want to adopt bitcoin and gold as their legal payment for the future, they have reject for using USD as legal payment for their country and give chance to bitcoin become legal currency and keep profitable for long term.

US dollars are not backed by gold, silver or any precious metals. It used to be backed ages ago. So, I don't think they if gold crashes, bitcoin will be backing US dollars. It is never going to happen. If needed, the government will make their own regulated crypto currency, making financial restrictions more strict then ever.
Bitcoin was never meant to be the "new age gold". It was meant to be the perfect medium of transaction. You are wrong over here.

Gold will crash?

I can see Bitcoin falling down all over again but Gold? I don't think so. Gold has a lot of big names investing in those metals, including Silver. I also don't see US dollars backed by Bitcoin since we all know how those people in the government not wanting to do anything with it.

Same opinion! Satoshi wants Bitcoin to be a means of payment, but it seems that everything has deviated from its original trajectory - becoming a "digital asset". If people want a currency based on Blockchain technology, the United States has more than enough power to create it but based on U.S rules. Libra is a prime example when it is causing the United States and other countries to think carefully about owning a Blockchain currency for themselves. USA, China, EU, I wonder who will be the first to do this. :/

Your concept is good however it is unlikely to happen, the government would prefer to back their national currency with stable assets like precious metals or oil. I don’t see Bitcoin could be the standard for backing currency in next few years because of its volatility.

I don't think so, I don't believe that gold is going to get crashed anymore, still, Gold has a big space in the international economy so far so it should be kept in safe otherwise many countries may face a huge crisis, on the other hand, It's also not easy to backed USD by anything, Seriously, It's not going to happen very soon unless something will happen ridiculously, I think this running system is good for both Bitcoin and USD, one thing you have to consider that central bank will not allow this type incident.

Gold will crash? lmao. You could've said that bitcoin will be ahead of gold in some aspect coz your opinion is quite off and obviously a one sided basis in favor of bitcoin. This is just vague to happen since Gold's value does not depend on a belief but what it contains in terms of metallic properties which is defined by its intrinsic value unlike bitcoin whose value depends on the demand and supply that makes it too volatile for an investment.

The idea would be nice but it lacks optimization because there is no way that bitcoin will be backed by USD, hence it would be just a waste if you backed btc with dollars.

This is crazy! You make decisions without any basis, what I see is illusion. First, the United States did not support Bitcoin and they never tokenized the dollar. Second, gold never collapses, because it is a precious metal, a top metal, its value is practical and its potential for use is infinite. So what the OP said here is fake news. It looks like some silly prophet makes the whole world worry about the end of the world, and in the end, nothing happens.

I think its better for the US to launch their own cryptocurrency, which is majority-owned and control by the state than peg it to bitcoin IMHO. Let us say you are correct, it is good for bitcoin holder since it will be a huge increased in value. Fix supply and back by US dollars, great opportunity if ever true.

There is no signs of weakness in the gold market and if you take a look at the market the price actually increased this year, you might not see a huge rally in price in both direction and hence people who are looking for a safe investment will go for gold and if there is a financial meltdown then i bet the price of gold will increase rapidly.

You can interpret anything you like, but Satoshi released BTCitcoin as Bitcoin: A Peer-to-Peer Electronic Cash System .
 If you read the white paper then you would not have this confusion  :P.

This is what the US is going to do that's for sure. Reality check, even if bitcoin is popular and universal, still no country will officially make it as their currency because it will never attain the stability. US on the other hand is very known for their economy, I don't think they will risk it with bitcoin and hope the best it can do after being adopted. Perhaps they will make a move, a move that no one has ever think of.

This does not make much sense to me as how can US dollars will be backed by something that too bitcoin which does not have any physical presence. Moreover gold market will never crash as it's there for ages and it's not volatile to crash, I would request you to share some sort of proof for these claims.

If US dollar crashes then many countries will also fail whose economy is tied with US dollar. I see such rumors (USD/Gold crashing) nothing but a bullshit. Dont know about future but right now bitcoin is backed by US dollar, as every satoshi these days is valued in US dollar.

Aside this being written off as a conspiracy theory, I see no basis for this to happen at all. The current currency we have come to value is backed by gold. Take gold away from the currency, its as worthless as anything other piece of paper. Now to say gold is out of the picture, it would be something else maybe technology, power, science or any other precious metal but not bitcoin. For one reason that bitcoin is not a physical currency that can be stored in a location to attract value by such and because it cannot be 'owned' proprietary makes it another issue of concern. Lets focus on real issue in crypto space and not wishful thinking that would lead no where.

that's the best part for them. its worth nothing and backed by nothing but they made it something with value so why change it. they can steal funds from the people specially those who saved a lot of money in the banks. bitcoin backed usd might just be possible but this is like how they are doing it with DAI. and it almost seem like stealing BTC. collateralize for digital usd.

why would gold crash and does anyone really knew where the golds go?

Governments would never allow bitcoin to be that strong plus there is absolutely no tips that USA is considering something like that. Right now, all we have is couple of laws that are supportive of bitcoin and couple of states that allow taxes of bitcoin to be paid in bitcoin and that's about it, nothing else has occurred to show that as a nation they are supportive of bitcoin that much.

However, there is a big chance that bitcoin itself backs one currency in the future, like Venezuela or Zimbabwe type of horrible inflation countries could turn into a crypto nation from the people itself instead of governments because there is enough bitcoins or crypto to go around the people and those people may start accepting crypto as payment and leave their own national fiat aside.

The government would never allow the US dollar to be backed by BTC. Like, it's not even possible since they don't have control over the market of BTC. The only chance they have is if they buy out the entire market, which is close to impossible with how the prices are currently, and how they have a lot more better things to spend on than that. And on the off chance that they do, they'd be killing the market since traders would know they control the market, leading to a crash and well, basically, them losing everything they spent on without any possible returns.

Gold price will not crash.

Bitcoin will never have a stable value so dollars can't tokenized using bitcoin backed up value.

If bitcoin becomes adopted that much then why we need dollars anymore?

gold will not crash, if that happens then usd will fall first with all the track record of the bad activities they play. the steps to replace it with bitcoin will also be very ridiculous because they understand that bitcoin is no better than gold for measurable stability. The transition process takes a long time and is not as simple as the discourse for 2020 which also coincides with the election year.

The currency we have today are not backed by gold, its just declared by the government to have a value. This happened during the time of Nixon as far as I know when there was an economic crash too. I could be wrong but the way government are printing more currency, its definitely not how it looks.

I don't think we can scratch the idea that BTC could be a reserve for fiat because after all, we don't value gold nor use it to buy something during economic crash. We are still going to resort to fiat until government says its worthless just like what happen to Zimbabwe.

right, gold is the head of usd. every printing money must be guaranteed in the form of gold. I don't think gold will collapse, because it has received a lot of trust from everyone, just many bitcoins say it's hard to collapse, let alone gold. Even if USD collapses, it is not so with gold because all countries have recognized it

USD have been manipulated many countries where their value always inflation every year and make many country have faced with lower value of their cash money, by using and accepting bitcoin as legal currency payment keep have higher value for every transaction because bitcoin never have inflation value although holding with long time.

Since 1971, entirely Unilateral with its allies at the IMF, the United States has terminated the Bretton Woods Agreement, thus buying money, not in reserve with gold. The era of fiat money emerged.

Many countries experience injustice after the dollar has become an international currency and without gold reserves, Americans can easily obtain dollars to meet their needs and achieve their interests in other countries without the need to calculate their gold reserves.

Because all currencies contain dollars, the price of goods and services also depends on the value of the dollar, so America, the winner of the world war, receives many benefits. The small intrinsic value of dollars can be used to exploit natural and human resources in other countries

We can reverse the situation by not using dollar for cross border payment and we have to use gold-based money again to create complete justice throughout the world.

Gold crashing? Governments are trying to recall their gold stocks, they're not worried about gold, they are worried about dollars. So many rumors of various countries trying to get off the dollar. China is planning to launch its own crypto that's backed by gold. Turkey is advocating for a crypto that Muslim states can use for exchange with each other to bypass the dollar. And so on.

In fact, Gold is a universal international precious tool, the value of which will never change for the worse.  The value of Gold primarily depends on its physical features, which are used in the manufacture of electronics, space technology and so on.  The more humanity develops technologically, the more the use of gold increases and its value will grow.  Today, gold can be compared with air or water, which is also growing in price, since clean air and clean water also become scarce and more are consumed.  That is why the fiat currencies of any state are supported precisely by the country's gold reserves.

Having bitcoin backed US dollar is very unlikely because if they do countries and government would gain control over the bitcoin network and as a decentralize community we dont want that.
and it is very unlikely for gold to crash as long as they have banks infinite supply of fiat cash and as long cash is the most used payment system.

I could see BTC being part of a basket of assets backing the USD. This would probably be decades away in a post-fiat world though. The current fiat form of USD will need to fail first.

More like 2050 than 2020 if I were to guess.

Gold will drop?
2020?

Hell no!!!
That is one hell of a wild imagination you have there.
Gold is still way up and it will still soar when the mining companies won't get anything anymore.
There will be a hoarding of gold or stores will close down to not sell it anymore because demand will come soaring.  ;D

I think the first Idea is to increase the marketcap of bitcoin close to trillion of dollars, a market size that can dictate a good part of the world economy. They need more than the oil in the world to move the world economy and want it to be in the hand of the top countries alone. Silently some companies in USA are also investing into Bitcoin mining with the aim to HODL for longer time. Backing bitcoin is good proposal but the asset value will still be a great feature sometimes in the future before the USA dollar backing is thoroughly effected.

because I am still thinking about the costs of bitcoin transactions and it seems rather difficult to make bitcoin as a digital currency especially as a micro payment tool, it is more worthy of becoming digital gold so that each transaction is really calculated by everyone before making a transaction, I am more supportive of concepts such as this

I’m not sure that this will happen in 2020. Because no one has learned to predict yet. But, I think that the likelihood that this will happen sometime in the future is much higher than the likelihood that this will not happen.

The cost of transactions isn't that high at all. I haven't paid more than $0.10 in fees in the last couple of months for a single output transaction. If you still think that's high, then there is Lightning that allows you to do micro transactions for fees like 1-2 satoshis. Instant settlement and with time huge adoption. What more can you wish for?  ;D

Most of the people complaining about fees very likely use wallet clients still using the legacy address format. If you use a wallet client that supports bech32 Segwit, your transaction fees will significantly reduce compared to the fees you pay for legacy transactions. Electrum is my preferred SPV desktop and mobile wallet client. If I'm not mistaken, they were the first client to support native Segwit.

I believe that he is very optimistic about the development of bitcoin. the impossible is when bitcoin is backed up with dollars, and it thinks that way.
I honestly never thought that way, other than that one of the advantages of bitcoin is its unstable price, so people can take advantage of it. in fact, the good thing is that bitcoin is often associated with gold. I honestly think it's a different type of investment.

I love Bitcoin but it's not ready to become a transactional currency for the masses. I believe that we will first need to test it in a smaller economy than the US.
If it can function as a transactional currency in a smaller but technologically advanced area, like Hong Kong, South Korea, Japan, it will be a sign it's ready to expand.

A part of me would like to see this happen as it will drive up Bitcoin price heavily. We're talking trillions USD market cap here lol. But another part of me think this is far too unrealistic and would require drastic change all over the world. I don't see why the U.S would go back to backed currency from fiat. I don't see any incentives for them, nor any country, to do this.

At this point in time it is difficult for me to believe that any currency that is being created by a government is ever going to be backed by gold, in the case of an economic crisis that may seem like the perfect solution to momentarily solve the crisis but at that point people will understand that they cannot rely on their government to maintain a currency that is actually stable, so I really think that at that moment people will begin to use bitcoin and gold directly regardless of the promises of their governments.

I can't believe it will happen now - when btc is too unstable.
But there is a chance tha Bitcoin will settle down after last block is mined
And that would be great time for btc to back up usd instead of gold (which should fall all this time drastically while btc is mined)

gold will not fall even many people who say that gold has been one of the reliable investment tools for thousands of years, as you can say gold will fall, gold and other metals will continue to exist.
bitcoin may be in demand for years to come, but gold will continue to exist.
I'm more hesitant to fiat the currency that will fade over time.

What are you talking about?  Since when is USD backed by gold? And since when Bitcoin is not meant to be money. Yes it is not a perfect money since it is not fungible but still it is money.

That is funny if you are joking around.
Gold will live for a long time in the financial industry of the world.

They made it so valuable because of the difficulty to acquire it and until now the mining areas are getting smaller.
Soon there will be no more gold to mine just like bitcoin but that doesn't mean its life will be sucked also in the market.
The circulation will continue and if some will keep it then the value could go higher.

Some of what you say about Bitcoin is true, but there are things I disagree with.
  USD can be used to support Bitcoin. But it is ridiculous to say that gold will collapse.
  The dollar is already backed by Gold. The best scenario for Bitcoin would be supporting Gold. But I think the goal of bitcoin is to replace gold!

You misunderstand everything. Bitcoin was just created as money, as an alternative means of payment to existing means of payment. It makes no sense to support the dollar. These are completely independent payment systems. Gold and silver will not disappear. They will exist along with old and new means of payment, including along with cryptocurrency.

If somehow (and I doubt this will happen) USA manages to make their own stablecoin, and that is a big IF at that, that would be super amazing and bitcoin would be pegged to it for sure. Even when a shady company with absolutely no guarantee created USDT everyone loved it and they used it like hell, there were billions of dollars worth of it in the market.

Now, think about how valuable that could be if people just used a stablecoin that was backed by USA government, that would be both beneficial to us and to USA as well. We would have a stablecoin that is backed by proper government that would actually pay us the fiat counterpart whenever we want to and USA would be able to raise billions of dollars from printing however much they want to print as long as it is backed.

What are you saying?

That's not gonna happen.. and bitcoin will never backed usd alone because it's not controlled by the government, its decentralized. \
and if ever it will be backed, it will not become as gold because bitcoin way more useful for our daily transactions than gold.

I don't see any relationship between bitcoin and gold, why are people comparing them constantly? Gold has and will never be replaced by any cryptocurrency, gold has many practical applications and even for the current electronics industry, without any reason for it being replaced, bitcoin cannot do that

The one I see before is they have the same price range before but I don't think Bitcoin is enough for now to be compared to bitcoins since if we compare the adoption and most accumulation Bitcoin is nothing with gold although the profitability is more higher with bitcoins but it doesn't guarantee that it can defame gold on where it stand right now.

Exactly! If it were before, we have a absolutely basis for comparing bitcoin to gold, because it is too high value and is trusted by many people. But for now, bitcoin no longer has its place, nothing can guarantee it's value, on the contrary, gold is always a precious metal and it does not have any investment risk

gold will not fall and I am very sure that even if bitcoin dominates the next few years, gold and some other metals will remain.
well see your statement that bitcoin will be backed up by USD stating that usd will be replaced? this is a bit interesting considering the country is a bit against it.

Buddy can you tell me the address of the weed store that you regularly visit? I have couple of friends who smoke weed and I would recommend that store to them. It seems to be very high quality one as it has transported you to a very different planet.

If Gold crashes, the world economy will be shattered. Bitcoin can't save it!

yes I know about that lightning network but unfortunately there are only a few wallets that are not yet known and used by many people and the features inside are incomplete, such as blockchain and coinbase wallets as we know they have more users, my hope is that these two companies use lighting transactions might look great, I'm just waiting for the next adoption in the future

lol  ;D I laughed out loud when reading your posts  ;D happily speaking, this guy is flying in the middle of the galaxy with a quality cigarette.
Regardless of any aspect or case, gold has always been the foundation of an economy that bitcoin cannot change, I'm not sure how long bitcoin can survive and grow but the value of gold is a period of thousands of years.

Gold is very important for the economy. Because states can collapse, but gold does not. Gold is a stateless exchange tool. So there is no guarantee of any government behind gold. The power of gold comes from itself. Bitcoin can be supplemented with gold. However, Bitcoin and gold have similar characteristics. Neither state has any state behind it.

It's the other way around and wont change anytime near yet. I can't imagine USD being backed up by bitcoin, what does that thinking and reasoning comes from anyway. if there comes the time when USD being backed up by dollar i'm sure this USD is as good as having nothing. It just doesn't make sense to be honest. it'll make more sense if USD when the value dropped so hard will be supported by being backed up by petrol or such.

Gold will fall 2020
Bitcoin will be new Gold.
And each dollar will be Backed by bitcoins.

The Central bank together imf fedrral reserve created Bitcoin coz their debt based currency have problems and Gold is Not backing currency long time ago.

The Fiat currency only backer is debt without debt no value!
But it cant be for long so They will slowly tokenize Fiat currency and it will be Backed by bitcoins.

Ethereum have Control over Fiat currency all Our Fiat currency will be run on ethereum and Bitcoin will be new Gold.



I cant explain it anymore clear Here!

Bitcoin need to be in politic part if want allowed become legal payment in many countries, for allowing bitcoin become legal currency depend on president's hand, if bitcoin never can help each president candidate when choose president maybe bitcoin become illegal payment currency transaction for long term, I think bitcoin have been support one of president candidate in United State to get allowed bitcoin as legal currency in United State.

Why will gold crash? I have yet to find the causes that make gold worthless, it has existed for thousands of years and bitcoin has only existed for 10 years!
You are deluded by the fomo of bitcoin and the manipulation community. it makes your mind overshadowed and you cannot discern the truth. What do you think of Bitcoin when it could be an important factor that can replace gold? while it has no shape and it is just a piece of code in a blockchain system! when we lose the network, bitcoin will follow and it will be of no value! I totally disagree with your thoughts.

Coz there is no new investors anymore who is willing to invest into gold!
That's Why gold cant Stay Up for long



2020 year things will be revealed and real how they really are black is black and white is white!
No more hidden things Everything will be visible and everybody will see how the things are.

When we talking about investment we cant be subjective we got to be more objective.

Nothing is permanent and nothing is safe or hedge!
Everything can change and will change!

Anybody look at the gold chart? Gold is already a very valuable mine. In the past, the gold reserve was checked before the Dollar was issued. So there was a link between gold and the dollar. After this bond was broken, the value of gold fell. Gold has started to be revalued. I think if the dollar supply is cut, gold will be much more valuable. Bitcoin may lose value if the current dollar for Bitcoin decreases otherwise.

You do know what Gold is, right? In terms of backing stuff with Gold, it's not applied anymore. There is no Gold Standard anymore, and in the United States, the last time they used it was 1971 [1] (https://www.investopedia.com/articles/forex/11/golds-effect-currencies.asp). It would seem ideal to have Bitcoin backed currencies because of the limited supply it could provide, but I'm Not Sure if everyone would agree.

Is there anything to support your claim?

If USA somehow managed to get rid of gold standard, they are not picking up something else for it. They got rid of gold standard barely and they have been getting out of hand sooo much ever since they did that, right now the gap is not even remotely close, so if they are not capable of working with a gold standard, how could they even potentially come close to anything else?

We are talking about a nation with over 20 TRILLION DOLLAR debt, how in the hell will they get that much bitcoin and back their own currency with it when they can't even do it without anything that backs it, they can't even print enough money to cover their own currency with the fear of huge inflation. So long story short, it is not happening, not bitcoin not gold not anything else, it is not happening. Dollar is only backed by the power of US government and that's it.

Debt is Good for currency but Bad Economy and for People!! 


Anyways the Global government main Plan is with stable coins!
Bitcoin Will be just what Will backing up the fiat value fiat wich is tokenized.

Also, Gold isn't likely to crash easily just like that. Aside from the role it has even before the existence of any digital currency especially bitcoin, it doesn't change the fact that investors knew that Gold survived every apocalypse and made it through the present because of the convenience and usability it offers, being a real asset is Gold's strongest asset and that is something bitcoin cannot replace. So bitcoin backing US dollar doesn't seem to affect anything but US Dollar for it was backed by many from time to time.

If the gold futures Will crash u Will be surprised how Fast gold price Will fall down too!

2020 is

The user that you are quoting does not make any sense, he says that bitcoin was not supposed to be money just as gold, that person has a very narrow view because for thousands of years the best form of money around the world was gold, and if bitcoin is supposed to be like gold, then by definition it is money, also you do not even need to read the bitcoin white paper to know the intentions of satoshi and what he thought of bitcoin just read the title of it and you will see that includes the word cash which is what bitcoin is supposed to be.

Satoshi white paper Don't mean Nothing!

I have explained here but u dont listen.



Just look at etherum its built for tonizing fiat.
Just look the DEFI ETH... DAI?
its copy paste of tradional fiat based finance and banking fundamentals.


Eth Holdre for new tokenized fiat*
Btc Counter balance for tokenized Fiat*

Gold will crash? How and why such predictions? As for now, gold is still great choice cause it's different from fiat + gold is the oldest thing that has universal exchange value and is the most stable one in real world compared to any fiat. But I agree with you when saying that bitcoin is the new age gold, yes cause it's currency with fixed supply and no one can edit this + it comes with blockchain that records every transaction, so everything is clear and anonymous at the same time (but not so anonymous too).
But I can't agree with you in this: Bitcoin never meant to be money! <------- Bitcoin was never meant to be used widely, this is my opinion.

The debt was and is backing up Money the fiat currency the Central bank knew that so they figured out it Will be Bitcoin
So each paper bill Will Backed by btc

What a nonsense,  it will never happen.
Gold is a stable asset, will never crash, it has real utility, being used in every computer and smartphone, and many other usabilities. Bitcoin is decentralized, the government simply can't backing dollars based on this volatile currency.

Where did you come up on such news OP? As far as I see it, Gold has been up for centuries and would likely to remain the standard of wealth. Countries wouldn't just dump all their gold reserve just like that. It's still a rare, precious earth metal that most people see as valuable, and also has some utility in terms of electronics and such. Bitcoin could back USD, or even replace USD, but that's far too distant from this point in time.

now many countries are starting to leave the dollar, they trust gold or digital gold more. but physical gold is indeed more reliable in its value stability. we can see the price of gold every year increases and fluctuations are relatively small, this is different from the dollar

Do you have any source of information about this? Because it is quite ironic that Bitcoin will be the currency to back USD unlike the usual possible thing to happen which is the BTC backed by dollars and gold. In this regard, I am pretty sure both ways are meant for good and making dollar tokenized could impact the world but I think it is already implemented using the stable coins priced at 1 dollar each. Mainly for the purpose of using it to establish businesses and to make bitcoin investment better.

The statements made by OP are completely groundless and there is no evidence linking them. I see you're saying nonsense issues because gold will never collapse, Gold has existed for a long time and it is a rare asset. All countries in the world stockpile gold and use it to support each country's Fiat. And Bitcoin will never become gold in a new age, Bitcoin is just a digital asset and it may crash in the future

This is a crazy idea mate. You know this won't happen especially this 2020. Gold is already precious since ancient times up to now and it will continue over time. I don't think the US government will allow a decentralized system to back their dropping currency. This is absolutely a joke. 

It's just a dream at this point.

Besides, why would a bitcoin backed USD make any sense? Why not just use bitcoin itself? And would incentive would the central banks around the world to ever reform their currency in such a way? They obviously don't want to let go of the control that they hold over monetary policy.

A tokenized US dollar could be possible but certainly not with the backing of BTC. You also have to take into account the potential for fractional reserve to be instated.

This is not a dream, this is a joke. Someone is messing with people, this can never happen, not in a million years, Bitcoin will never back up US dollar, that is impossible. In the future US dollar will be tokenized like everything else, but the US government together with federal bank will create their own token, with their own rules on their own servers.

Any other bad ideas about bitcoin become shit and lower value, how brave you are when saying bitcoin never have value at the future when many investor want to support and waiting for bitcoin have higher price before bitcoin halving, you have open your eyes about bitcoin will have higher price.

I belive what I see btc Price is Not Good Now this is what I see

This situation was barely showing us the power of dollar itself, so by backing up through bitcoin; for sure every transactions related with cryptocurrency is closely tracked by US government. On this idea I think, merging of fiat crypto will be possible now. Which I don't have the 100% confidence on how it's going to be successful along the way.

It is not easy to actually do something like this on paper as well, I mean think about it, bitcoin is just a crypto currency, USA dollars is the fiat of the probably most powerful nation in the whole world, their military spending is bigger than next 10 biggest spender combined and they have to be backed by something like bitcoin?

Even if all of the nation agreed that dollar being backed by bitcoin is a good idea, even if democrats and republicans all thought this was a bipartisan move and agreed that it should happen, first you have to let something like this have a ruling at congress which already has a schedule already so you gotta wait for that, then you gotta explain all of the congress members most of which are old white men to understand what bitcoin is and let them know their voters want this, then you gotta do it again for senate as well so it would take a long time to get it accepted even if it was possible at all.

I don’t think what’s happening, your plot is on the verge of fantasy. Although there is nothing to be surprised at, we already have the main currency in the world which is not backed by anything, and at the same time it can be collateral for the currencies of other states. An ideal management tool for foreign policy. Bitcoin is not provided with anything, which means that with your option, the dollar will also be provided with a currency that is not provided with anything and also has strong volatility.

Gold will not crash as long we have the mentality of household wives about gold.
With China trying to implement their own coin, US may try to create their own but it'll not be plegded to us dollar.

I never thought gold would fall. because gold has been proven to be able to survive since ancient times until now is still an investment tool and a store of value that is sought by investors. and in my opinion bitcoin will not be a benchmark or support for the US dollar. bitcoin has high fluctuations it is unlikely the United States government will use bitcoin as support for the dollar.

Where did you get your finding? Is it an expectation or an idea that is already being nursed?.
Gold has proven to have maintained efficiency in growth for decades. Its is not really a  good investment for me, but a good store of value.
Now talking about bitcoin backing USD, it is totally impossible.  Why won't it back Yuan? The Chinese control over bitcoin won't make it happen because it will make it  look as though China is controlling the USD. And America will never allow such influence on their currency.

The OP is based on nothing. No fundamentals or anything. Just wishful thinking.

Currently the US dollar is only backed by the government. It is not backed by gold, so I don’t think it will ever be backed by anything else.

I really like your points. I'm also a big gold fan when it comes to its intrinsic value of long term store of value. However when being on my quest of trying to buy gold coins, I was shocked of the many ways to forge them. Without being an expert to gold, I much prefer the safety of a valid tx... (Yeah I really said that ::))

What nonsense. US dollars will never be backed by Bitcoin. These are completely different payment instruments. And gold cannot lose its dominant value as a valuable metal. And you say that this will happen in just 1 year. You should write scripts for science fiction movies. The maximum that can happen this year is more acceptance of Bitcoin by people, and everything else will remain unchanged.

Dollar feels like maybe it won't be as strong as it is right now in the future. Right now European countries are building this systematic powerful way where they are actually making a profit for the first time ever in history, think about it, when was the last time a nation actually didn't had a deficit but a surplus?

Germany just did that, on the other side China has been doing that for a long time but since they have too many people, having 1 trillion debt for Germany versus 1 trillion for China is different whereas having 1 trillion profit in Germany versus china is different as well, even tho bad goes around the good doesn't even go around that much (CCP holds it). Long story short I am not entirely sure we should have bitcoin backing dollar, if anything Euro is a better option.

Maybe euro then
...

right, there is no link between bitcoin and dollar, because they are different. gold is the first choice because it has won the trust of all people, while bitcoin is still in the struggle to be trusted. we must have a realistic outlook, but at least bitcoin becomes the choice after gold

if the dollar is supported by Bitcoin, why doesn't the US state accept bitcoin as a means of trading / trading commodities. The SEC has repeatedly rejected the bitcoin proposal. and today crypto is still a controversy there, I doubt if bitcoin supports the dollar. because until now bitcoin is running alone as a commodity and a safe asset store.

This is just a joke, a good joke. Today we have many currencies that are backed up by some piece of paper, that piece of paper is made by governments and banks. While rich get richer, many people don't have for basic stuff, it's a system that last for centuries. Crypto as crypto have a chance to change that system, unlike fiat currencies crypto can not be corrupted because of decentralization and security of the chains, thus you can't duplicate them. Now this headline is a joke, but I really believe that crypto will replace fiat.

No available USA dollar support for bitcoin because United State become most country want banned bitcoin as legal digital currency payment, they not give chance for bitcoin as legal currency transaction payment and look bitcoin become their money competitor at the future and have chance to make USA dollar become die with bitcoin as digital currency payment.

Loss of investment instruments would be difficult. Bitcoin expresses a value on its own without being bound to any commodity. It's my idea. I think that in the future bitcoin may be an argument. States should take measures for this in advance.

America's reaction to bitcoin doesn't just change and USA is still against with legality of bitcoin, even the legalities of all crypto currencies. It will not happen that USA dollars will be tokenized because of uncontrollable taxes and untrack transactions. it will changes the USA governments mind if someone shoe up how crypto or bitcoin use for good things

That's what I heard. And that currencies are traded like stocks anyway so I guess it's OK to call them "floating".

People also point out that this is the reason America remains allies with Saudi Arabia and they help brought down Gaddafi. These countries trade oil for dollars and if that changes then that's going to affect the USD.

Well, anything is possible, but I don't seem to see signs of gold failure (also because it has been holding for 5000 years ...), therefore it seems to me a baseless statement.
But it is clear that bitcoin can become the real gold of the future. But it will still take time.

The dollar is constantly depreciating against Bitcoin. I think Bitcoin proved itself. However, it is now unreasonable to compare it with the currency of any state. I think it needs to be compared with metals like gold or oil.

This makes no sense whatsoever.

Perhaps in the near future BTC will become a reserve asset held by the Federal Reserve and other central banks (I doubt in the next 5 years, though). But even then that doesn't mean that USD is backed by BTC. It makes no sense for the government to peg the value of their fiat to BTC, especially from a monetary policy stance.

It's like saying gold backs the USD simply because the Fed holds a bit of gold in their reserves. But we know that's obviously false.

I guess the first idea is to raise bitcoin's marketcap by about a trillion dollars, a market size that can control much of the world economy. In order to move the world economy they need more than the world's oil and want it to be in the hands of the top countries alone. Silently, several U.S. companies are also participating in Bitcoin mining with the intention of holding for longer periods of time. Backing bitcoin is a good proposal, but the value of the assets will still sometimes be a great feature in the future before the detailed backing of the US dollar is made.

Gold does not currently back the US dollar so there is no reason for the US government to suddenly need Bitcoins to back the US dollar. It will continue to be backed by the government.