Bitcoin Forum
November 21, 2017, 03:53:54 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin - The one and only?  (Read 1025 times)
MisterMelancholy
Jr. Member
*
Offline Offline

Activity: 42

Ugh


View Profile
April 09, 2013, 03:03:12 AM
 #1

I've been reading about the various economic states in various countries around the world, and though I'm still rather ignorant on the subject, it seems like numerous countries will be left with a failed currency (US, Japan, Cyprus, etc).

Do we think these countries will accept Bitcoins as the new standard? Perhaps they'll offer tangible assets (gold, silver, land) for Bitcoins and use these to start jobs/encourage small business/etc?
Perhaps the governments will just fail and be too dumb to recover?

Just something I've been wondering economically-ignorant mind.

Edit: I left out the word "failed" the first time.
1511279634
Hero Member
*
Offline Offline

Posts: 1511279634

View Profile Personal Message (Offline)

Ignore
1511279634
Reply with quote  #2

1511279634
Report to moderator
1511279634
Hero Member
*
Offline Offline

Posts: 1511279634

View Profile Personal Message (Offline)

Ignore
1511279634
Reply with quote  #2

1511279634
Report to moderator
Join ICO Now A blockchain platform for effective freelancing
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511279634
Hero Member
*
Offline Offline

Posts: 1511279634

View Profile Personal Message (Offline)

Ignore
1511279634
Reply with quote  #2

1511279634
Report to moderator
mycketbra
Full Member
***
Offline Offline

Activity: 194


View Profile
April 09, 2013, 03:09:24 AM
 #2

I've been reading about the various economic states in various countries around the world, and though I'm still rather ignorant on the subject, it seems like numerous countries will be left with a failed currency (US, Japan, Cyprus, etc).

Do we think these countries will accept Bitcoins as the new standard? Perhaps they'll offer tangible assets (gold, silver, land) for Bitcoins and use these to start jobs/encourage small business/etc?
Perhaps the governments will just fail and be too dumb to recover?

Just something I've been wondering economically-ignorant mind.

Edit: I left out the word "failed" the first time.

Governments will collapse before accepting bitcoin Smiley
MisterMelancholy
Jr. Member
*
Offline Offline

Activity: 42

Ugh


View Profile
April 09, 2013, 03:19:21 AM
 #3

Governments will collapse before accepting bitcoin Smiley

Is this because they're stubborn? They don't trust things they don't understand? (which would explain the poor Internet policies/enforcement here in the US)
Maybe they don't think the public will understand? and it'll just be a frenzy?
Mytche
Jr. Member
*
Offline Offline

Activity: 57



View Profile
April 09, 2013, 03:56:04 AM
 #4

Bitcoin is not fiat, and the US current economic policies require that they be able to manipulate the money supply. 

It is possible to create a cryptocurrency and still control the supply, but this would not be bitcoin. 

BTC 1MytcheCNTURK58uXouejeh8yTiYJKWw4Y
mgio
Hero Member
*****
Offline Offline

Activity: 546


View Profile
April 09, 2013, 06:09:00 AM
 #5

Most moden economist won't accept a deflationary currency. They believe that inflation is necessary to stimulate investing and thus the economy. The governemtns won't go for it because they can't control it.
Operatr
Hero Member
*****
Offline Offline

Activity: 798


www.DonateMedia.org


View Profile WWW
April 09, 2013, 06:09:21 AM
 #6

Bitcoin is not fiat, and the US current economic policies require that they be able to manipulate the money supply. 

It is possible to create a cryptocurrency and still control the supply, but this would not be bitcoin. 

Anything like that would ultimately be proprietary and under Gov control. Bitcoin is unique as it not only is designed to operate with no central authority, but it is completely open to public view as well. Anyone has the power to start their own currency with these open source tools, circumventing any "OneCoin" the government could create. Anything the government would do to stop it would be met with serious opposition, and much like the way Gov controls never stopped Bittorrent at all after spending millions, Bitcoin can't be stopped either without the Gov becoming North Korea in containing the Internet into a national Intranet, risking sparking a massive uprising. Last time someone even pointed a major, vague, and draconian legislation at the Internet, the response from Google and the tech industry was pretty much "do it an we'll shut this shit down ourselves". I think the Gov is assuming Bitcoin is a novelty and not paying much attention to it, for now. Remember, their Tech Czar or whatever in past has used phrases like "the internet is a series of tubes"...they have less than a clue about what this is or what it could become before it is too late.

I just hope it happens fast enough to where the Billionairs don't realize it and get stuck with Billions of dollars of effectively worthless currency, while the rest of us riding our BTC horse to freedom laugh all the way to the banks that no longer exist, because WE said so.



MisterMelancholy
Jr. Member
*
Offline Offline

Activity: 42

Ugh


View Profile
April 09, 2013, 07:48:31 AM
 #7

That makes a certain amount of since.

Sorry for the late reply; I got my 2 7970s in the mail. Too bad my band-new new dedicated miner isn't booting...
essem
Jr. Member
*
Offline Offline

Activity: 42


View Profile
April 09, 2013, 08:58:27 AM
 #8

These currencies will never fail, governments will always find away to save them through printing more money or taxing the voter
benkebab
Member
**
Offline Offline

Activity: 75


View Profile
April 09, 2013, 09:05:07 AM
 #9

The European Central Bank at least made a plain statement about virtual schemes

A non regulated virtual money is "dangerous" for its users (and oddly put, "for the central banks "reputation"). They see it as a competitor, not as a solution!
Operatr
Hero Member
*****
Offline Offline

Activity: 798


www.DonateMedia.org


View Profile WWW
April 10, 2013, 12:24:06 PM
 #10

The European Central Bank at least made a plain statement about virtual schemes

A non regulated virtual money is "dangerous" for its users (and oddly put, "for the central banks "reputation"). They see it as a competitor, not as a solution!

As they should, it gives us teeth we never had before to basically start our own system and exclude THEM for a change.

Dangerous? No, a centrally controlled currency under the care of power drunk sociopaths and money backed on nothing is dangerous.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!