America's new debt ceiling - $19,600,000,000,000

[markj113]

The will lift this to $20,000,000,000,000 or $21,000,000,000,000 very quick as usual.

A lot of noise but there will be no impact. This is now going on since some years and there was no effect at all (despite higher debt levels of course)

Until a few of the lenders want payment.

The current situation cannot carry on indefinitely and sooner or later the house of cards will fall.

Expect bank accounts, any investments and pension to be wiped out.

Dont keep large sums of money in banks, hold cash, precious metals, bitcoin etc.

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[RealBitcoin]

The will lift this to $20,000,000,000,000 or $21,000,000,000,000 very quick as usual.

A lot of noise but there will be no impact. This is now going on since some years and there was no effect at all (despite higher debt levels of course)

Until a few of the lenders want payment.

The current situation cannot carry on indefinitely and sooner or later the house of cards will fall.

Like china ?  They do hold alot of US debt, and if they demand payment and US cant pay, it will put extra tensions between them. They already have big tensions between them.

But the normal bond investor will definitely be wiped out (so pensions, savings accounts, and other low risk investments will be wiped out)

[markj113]

The will lift this to $20,000,000,000,000 or $21,000,000,000,000 very quick as usual.

A lot of noise but there will be no impact. This is now going on since some years and there was no effect at all (despite higher debt levels of course)

Until a few of the lenders want payment.

The current situation cannot carry on indefinitely and sooner or later the house of cards will fall.

Like china ?  They do hold alot of US debt, and if they demand payment and US cant pay, it will put extra tensions between them. They already have big tensions between them.

But the normal bond investor will definitely be wiped out (so pensions, savings accounts, and other low risk investments will be wiped out)

And China will care because?

China has an ambition to to kill off the US petrol dollar/reserve currency and replace it with their own.

They are accululating tonnes of gold every month with the possibility of launching a gold back currency, like every reserve currency before the dollar sooner or later the US's turn will come to end.

[RealBitcoin]

And China will care because?

China has an ambition to to kill off the US petrol dollar/reserve currency and replace it with their own.

They are accululating tonnes of gold every month with the possibility of launching a gold back currency, like every reserve currency before the dollar sooner or later the US's turn will come to end.

Well they invested billions in the US and havent got anything but crappy low interest on it. If they cant recover their capital they will be angry.

However it might not affect their economy, but it will their diplomacy.

If China would sell all their US bonds that could collapse the US economy, but I dont think China wants that, after all they do exports to the US.

So they have a strange relation, they both hate eachother, but they both depend on eachother.

[erickimani]

its a pity. The bad thing is that whenever there is a crisis in a certain country or they need some donations, America is usually the first to give grants in billions. I didn't know they are that deep in debt. Soon the American dollar will collapse and be overtaken by other currencies such as the euro and above all the might BITCOIN. watch the pace

[BillyBobZorton]

its a pity. The bad thing is that whenever there is a crisis in a certain country or they need some donations, America is usually the first to give grants in billions. I didn't know they are that deep in debt. Soon the American dollar will collapse and be overtaken by other currencies such as the euro and above all the might BITCOIN. watch the pace

The Euro? I don't think so, the Euro is screwed up too... if the dollar crashes, the Euro is not going to survive. Similarly, if the Euro crashes, the dollar just can't survive like nothing happened. It only takes 1 big currency to fail to start a devastating domino effect and all of them are on the edge.

[markj113]

its a pity. The bad thing is that whenever there is a crisis in a certain country or they need some donations, America is usually the first to give grants in billions. I didn't know they are that deep in debt. Soon the American dollar will collapse and be overtaken by other currencies such as the euro and above all the might BITCOIN. watch the pace

Amazed people still are unware of how much debt the West is in.

Check out the realtime US debt clock -

http://www.usdebtclock.org/

A real eye opener  

Just under $58,000 debt for every man woman and child and $156,000 debt for every tax payer.

[Kprawn]

Not a lot of people can buy houses with cash these days..  According to this article --> http://www.huffingtonpost.com/2014/03/13/median-home-price-2014_n_4957604.html

...the median house price in the USA are $188,900 and I should say, a huge part of that debt goes towards housing and bond payments. This will always remain a big problem with

house prices being that high. How much of that debt are being paid by rental income or businesses generating jobs and paying salaries? Not all debt, is bad debt. 

Your 60" UHD 3D television bought on credit, generate zero income... that is bad debt in my opinion. 

[RealBitcoin]

its a pity. The bad thing is that whenever there is a crisis in a certain country or they need some donations, America is usually the first to give grants in billions. I didn't know they are that deep in debt. Soon the American dollar will collapse and be overtaken by other currencies such as the euro and above all the might BITCOIN. watch the pace

Amazed people still are unware of how much debt the West is in.

Check out the realtime US debt clock -

http://www.usdebtclock.org/

A real eye opener  

Just under $58,000 debt for every man woman and child and $156,000 debt for every tax payer.

I dont have any debt, privately.

However publicly people take loans on my behalf without my approval, and make me pay for it: its called fraud.

[spazzdla]

The will lift this to $20,000,000,000,000 or $21,000,000,000,000 very quick as usual.

A lot of noise but there will be no impact. This is now going on since some years and there was no effect at all (despite higher debt levels of course)

Remember the last crisis almost wiped out all banks, and it was only the FED's quick intervention that saved them.

The next crisis will be the big one. Which could come as early as next spring, or after US elections (as no politician wants crisis on their election day)

They just got bigger pails to bail the water out.

There is still a hole, the ship is still sinking...

[OrientA]

its a pity. The bad thing is that whenever there is a crisis in a certain country or they need some donations, America is usually the first to give grants in billions. I didn't know they are that deep in debt. Soon the American dollar will collapse and be overtaken by other currencies such as the euro and above all the might BITCOIN. watch the pace

The Euro? I don't think so, the Euro is screwed up too... if the dollar crashes, the Euro is not going to survive. Similarly, if the Euro crashes, the dollar just can't survive like nothing happened. It only takes 1 big currency to fail to start a devastating domino effect and all of them are on the edge.

All the major currencies are interconnected. When one fails, the other will be affected. That is mainly because of the banking system in the world rely on each other. Only the one outside existing banking system will survive. That is the bitcoin.

[blackmachinegun]

honestly,i never hear about this,and this is shocking me 
if america have debt as much like that,than from where they loan it?anybody can tell me?i never think before that a big country also have debt,and they also give some loan to other country,it cannot believe.. 

[maku]

And China will care because?

China has an ambition to to kill off the US petrol dollar/reserve currency and replace it with their own.

They are accululating tonnes of gold every month with the possibility of launching a gold back currency, like every reserve currency before the dollar sooner or later the US's turn will come to end.

I am not sure if once you introduce FIAT monetary system there is a way back to commodity backed money. Unless US economy totally crumble that it.
But again, then I would rather expect a war than economic reforms.

[Lover of Coin]

honestly,i never hear about this,and this is shocking me 
if america have debt as much like that,than from where they loan it?anybody can tell me?i never think before that a big country also have debt,and they also give some loan to other country,it cannot believe.. 

At the moment they borrow it mostly from American pension funds and some bond funds. They also borrow about 1/3 from foreigners. FED also lends a lot.

[HighPixelr]

FED stealing money from Americans.
Apparently Americans OWE the fed 19.5 trillion dollars.
A debt that will never be paid off.

[pereira4]

By 2140, no more Bitcoins will be created so people will probably move on to other crypto currencies.

This sounds consufing.

You mean miners move on to other crypto currencies, since they have too or people (speculators) etc.?

Fees will most likely be miners incomes, since block reward would be so low.
I think that bitcoin would still be as profitable as it is today. it takes just one big bitcoin farm to 51% attack a sha-256 altcoin. So they will most likely move on to new algorithm. Most likely my bet would be that PoW coins will be superior only to some point in the future. Beyond that point PoS or other methods would be far more superior.

At present, PoW is the most fair and efficient way to distribute the coin for long time. In PoS coin, the coins are distributed in one go (ICO) or very short period. So it is unfair to later comers as the only way they can get the coin is to buy. For the PoW coins, you can buy/rent rigs to mine. You can also buy cloud mining service.

What about clams, they were distributed to every doge lite and bitcoin owner. And as for other PoS coins like nxt for example has better distribution than bitcoin already. PoS coins are poorly distributed at the beginning(except for clam, which had a pretty good distribution early), but they should be pretty evenly distributed in 3-4 years time if there is an active community behind the coin. imo there are currently 2 good well distributed coins out there. One is clam and other one is nxt.

PoS is not a secure system, it has been demonstrated in the events that we saw with NXT where they even considered a rollback to try to fix the mess that happened with all those exchange hacks. This alone should make you think. The fact they even considered a rollback should raise big alarms.

PoW is still king and will stay king.

[virtualx]

honestly,i never hear about this,and this is shocking me 
if america have debt as much like that,than from where they loan it?anybody can tell me?i never think before that a big country also have debt,and they also give some loan to other country,it cannot believe.. 

The US government owns:
42.2%   U.S. indiviuals and institutions
17.9% Social security trust fund
11.6%  Oil export
and some others.

U.S government debt:  $ 18,152,809,942,589
Chinese government debt:   $ 5,328,705,984,026
EU government debt:   $ 13,559,663,144,281
Russia government debt:  $ 248,623,032,338
Brazil government debt:   $ 1,479,837,128,028

FED stealing money from Americans.
Apparently Americans OWE the fed 19.5 trillion dollars.
A debt that will never be paid off.

Governments don't want debt to be paid of.

[onemd]

PoS is not a secure system, it has been demonstrated in the events that we saw with NXT where they even considered a rollback to try to fix the mess that happened with all those exchange hacks. This alone should make you think. The fact they even considered a rollback should raise big alarms.

PoW is still king and will stay king.

The rollback is not done only with PoS, it can also be done with PoW coins. As long as most miner agree, a transaction can be cancelled. This is called hard fork.

[JohanM]

Bitcoin is still very vulnerable to an attacker with deep pockets.
The government or even many banks could easily intervene in bitcoin and hard fork it (to create additional coins just for them). At today's rates it would cost roughly 220 million USD to get equipment for 50% of hashrate.
For you and me that is a lot of money, for them it is pocket change. They can even print the money it if need be.

[Meuh6879]

Bitcoin is still very vulnerable to an attacker with deep pockets.

in wall street, yes.
in exchange environment with TIER restriction (and bots with NO STOP), no.

real rules, no cheating available without the price.