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Author Topic: The world would be better, if the US dollar...  (Read 3356 times)
Yakamoto
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October 27, 2016, 02:11:13 AM
 #61

The world would be better, if the US dollar (dropped in value?)
The world would be better if the US dollar was still pegged to some good and was exchangeable for said good at any point. This goes for all currencies throughout the world, however the US was one of the big changes that lead us down the path of fiat currencies.

Stop backing a currency with nothing, back it with some sort of tangible good.

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October 27, 2016, 02:31:18 PM
 #62

The world would be better, if the US dollar (dropped in value?)
The world would be better if the US dollar was still pegged to some good and was exchangeable for said good at any point. This goes for all currencies throughout the world, however the US was one of the big changes that lead us down the path of fiat currencies.

Stop backing a currency with nothing, back it with some sort of tangible good.

That would be better for the U.S., not for the entire world... Cheesy I don't think it's not going to happen again in our lifetime - there are simply not enough precious metals to provide backing for all forms of USD funds out in the wild. At least not at current market prices for precious metals. But even if precious metal prices would be adjusted upwards to provide for sufficient backing it would be largely unfeasible, because the amount of gold or silver you would obtain for one USD would be so small that it couldn't be easily paid out.

In my opinion the world would be better, if the USD ceased to be a global trade currency. The U.S. economic power effectively rests on the importance of the USD for global trade. To maintain this position, the U.S. are using military force as they see fit.

Luckily, Bitcoin is able to solve both problems at the same time. Bitcoin will end the reign of fiat scam money altogether. It is nonpolitical sound money. That's the best money the world can hope for.

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October 27, 2016, 02:44:29 PM
 #63

The world would be better, if the US dollar (dropped in value?)

I'm not sure about this. Theoretically, like many people are saying in this thread, it would be possible to get more USD for a ton of rice or whatever. But on the other hand you would be able to buy less goods for the dollars you obtained.

And there is one more thing, which is significant IMO. In poor countries with unstable economy many people keep their savings in USD. What would happen to them then?

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October 27, 2016, 05:30:00 PM
 #64

The world would be better, if the US dollar (dropped in value?)

I'm not sure about this. Theoretically, like many people are saying in this thread, it would be possible to get more USD for a ton of rice or whatever. But on the other hand you would be able to buy less goods for the dollars you obtained.

And there is one more thing, which is significant IMO. In poor countries with unstable economy many people keep their savings in USD. What would happen to them then?

Such situation of Dollar going down won't happen anymore, because USD is very strong with increased usage as well value. In my view if price falls, we the bitcoin users too will suffer a lot, because bitcoin value right now is calculated in terms of USD as direct acceptance of bitcoin is not found much worldwide.

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October 27, 2016, 05:40:05 PM
 #65

The world would be better if the US dollar turns out to be Bitcoin. That means the world strongest currency would be Bitcoin. This would make a lot of significant changes in the world economy and some government in the world. Basically, developed country would subsidize under develop country by bitcoin, which would make bitcoin even stronger.

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December 30, 2016, 03:44:08 PM
 #66

Yes you are absolutely right .if the usd drops then it will be helpful for import and export business .it will also be useful for the students who want to pursue thei career in Usa .as students diffetent parts of the world come here and dream to study here.

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