What if the government wants Bitcoin to succeed?

[Tirapon]

http://www.usdebtclock.org/

Its hard to get your head round the figures...

What if Bitcoin really is successful to the point that the value of fiat crashes completely? What happens to the debt?

Interesting to think about.

[mai77]

not without historical precedent anyhow

[Mike Christ]

If Bitcoin outperforms the dollar, then the nation's debt can go poof--that is, if the gov wants to ditch the central bank and take on Bitcoin.  As we all know, they're off their leash and bound at the hands of another entity, so it's now a game of currencies.  I believe there was someone recently who mentioned currency wars...  Bitcoin stands the greatest chance against destroying the dollar.  Some people don't want this to happen.  But some people don't understand the predicament we're in.

[farlack]

Dollars are backed by gold, we sell dollars, governments want their money, they get our gold.

[mai77]

the guy who wrote the book on currency war used to appear in the "Keiser report" on rt.com

[mai77]

Dollars are backed by gold, we sell dollars, governments want their money, they get our gold.

they steal it, you mean

[BitMonkey]

Bitcoin,
Started by the CIA to liberate America from Bankers' Grasp.
Whatcha know about that son?

[Mike Christ]

Dollars are backed by gold, we sell dollars, governments want their money, they get our gold.

Not my fault they abandoned the gold standard; I wasn't even a twinkle in my father's eye.  Today, by using Bitcoin, I am giving the government their well-deserved spanking.  I will give them another tomorrow.  When they're ready to grow up and learn from the mistake they've made every day for the last few decades, they can go ahead and setup a national BTC wallet to squash this hole they've pulled us into.

[herzmeister]

Bitcoin,
Started by the CIA to liberate America from Bankers' Grasp.
Whatcha know about that son?

...while getting rid of JFK to make their cover on the surface believable 

[justusranvier]

When governments die, the people in them  try to loot as much of the resources as they can get their hands on before the game is over and it's time to start over.

The most prominent example of this is the fall of the USSR. The oligarchs in Russia were people in positions that allowed them to enrich themselves with state resources. Ultimately, every person in government is there to loot the treasury but most of them plan to do it in a leisurely and controlled fashion over an entire career and eventual retirement. When recognition spreads through the government that the money is running out, they vastly accelerate the pace of their looting because they don't want to be left empty-handed.

The way governments around the world react to bitcoin (what they actually do, not the rhetoric they emit) will tell you where in the looting-collapse cycle each one happens to be in.

[Tirapon]

When governments die, the people in them  try to loot as much of the resources as they can get their hands on before the game is over and it's time to start over.

The most prominent example of this is the fall of the USSR. The oligarchs in Russia were people in positions that allowed them to enrich themselves with state resources. Ultimately, every person in government is there to loot the treasury but most of them plan to do it in a leisurely and controlled fashion over an entire career and eventual retirement. When recognition spreads through the government that the money is running out, they vastly accelerate the pace of their looting because they don't want to be left empty-handed.

The way governments around the world react to bitcoin (what they actually do, not the rhetoric they emit) will tell you where in the looting-collapse cycle each one happens to be in.

I wonder where we are right now?

[RodeoX]

More importantly, how do the gray aliens figure into this?  

[justusranvier]

I wonder where we are right now?

http://usnews.nbcnews.com/_news/2012/04/16/11228993-ex-gsa-head-apologizes-for-823000-las-vegas-spending-spree?lite

The official at the center of the scandal, Jeffrey Neely, repeatedly invoked his Fifth Amendment right to remain silent.

In a memo included in the inspector general's report, Neely — who hosted a $2,700 party at the conference — allegedly wrote, "I know I'm bad ... but why not enjoy it while we can? It ain't gonna last forever."

Rep. Darrell Issa, R-Calif., chairman of the committee, said the panel was intent on getting "answers to questions that should have been asked long, long, long ago."

Pretty far along.

[Eri]

Bitcoin,
Started by the CIA to liberate America from Bankers' Grasp.
Whatcha know about that son?

...while getting rid of JFK to make their cover on the surface believable 

There is circumstantial evidence that the gov't did create it. its not great but its plausible, especially considering they made the complimentary system known as "TOR". Tor -> anonymous communication; Bitcoin -> anonymous money. in other words, you can communicate with people in other countries easily without worry of anyone noticing, and with bitcoin you could send them money, again without anyone noticing.

[DigitalDoom]

<sigh>

Bitcoin is obviously an Illuminati plot to replace the USD as the money of the New World Order.











#sarcasm

Call them Illuminati or Satoshi, or whatever...the truth is the truth!

The whole thing came together with perfectly planned precision by a mysterious "person" who just evaporated once it was in full swing. One of the biggest concerns of "Satoshi" was getting the Libertarians to accept BTC...Why? The Government is keeping their hands off (unlike they did with Liberty Dollars and bartering, both Libertarian ideals)....Why? The media was planning to blow the lid on BTC but waited until a year later...until exactly the time when "Satoshi" planned for it to happen...Why? World economic collapse is clearly inevitable and somehow this new currency idea just came out of nowhere, right before the fall....Why?

The whole BTC story is one straight out of a conspiracy novel.

Believe it's a conspiracy or not...doesn't matter! It is what it is...I really don't care one way or the other, but let's don't be naive about it.

Putting the facts together and using your brain a little, you quickly realize that there are many more questions than answers surrounding the timing and implementation of bitcoin.

The simple fact that the government is allowing it to grow, is enough to throw up red flags in any thinking person's mind. Anyone who believes the answer to this is "because they can't do anything about it", is a naive, blind fool! They can and will put an end to anything they want...all it would take is a press conference stating bitcoin is related to "terrorist activity" or jail a few people on BS charges or simply create laws making bitcoin illegal, and bitcoin would be dead! They aren't doing that...Why not?

There's much, much more to the bitcoin story than meets the eye!

[knight22]

Please read a little more about the money creation process to understand why no sane banks will want bitcoin to succeed.

http://www.rayservers.com/images/ModernMoneyMechanics.pdf

[Tirapon]

I'm going to suggest that bankers probably care mostly about profit. If you are driven mainly by profit, surely the best thing to do about Bitcoin is buy loads of them and then do your best to make it succeed?

[knight22]

I'm going to suggest that bankers probably care mostly about profit. If you are driven mainly by profit, surely the best thing to do about Bitcoin is buy loads of them and then do your best to make it succeed?

They only care about power and control and that's what they are loosing with bitcoin.

[moni3z]

http://www.usdebtclock.org/

Its hard to get your head round the figures...

What if Bitcoin really is successful to the point that the value of fiat crashes completely? What happens to the debt?

Interesting to think about.

What happens is incredible prosperity. The debt disappears like when Solon 2500 years ago in Greece was called to office and had the choice of giving Greece away to the money lenders who were charging gigantic interest, or simply rip up the debt. He ripped it up and that was that.

[Tirapon]

http://www.usdebtclock.org/

Its hard to get your head round the figures...

What if Bitcoin really is successful to the point that the value of fiat crashes completely? What happens to the debt?

Interesting to think about.

What happens is incredible prosperity. The debt disappears like when Solon 2500 years ago in Greece was called to office and had the choice of giving Greece away to the money lenders who were charging gigantic interest, or simply rip up the debt. He ripped it up and that was that.

I wasn't aware of that story, so I looked it up. I just read this, which struck a chord:

'Athens was in dire need of change. Class warfare (the stuff that would make modern class warriors cringe) was on the verge of erupting and engulfing the city state in a dark cloud of Civil War. The Oligarchs, who owned most of the land and wealth, were looking to peacefully solve this problem without losing much of the power they had obtained.'