Bitcoin Burning of Money

[geopolisch]

I think for an individual like me, Bitcoin is a money maker because base on my experience I did not put some capital but I earned big already, you just need to utilize bitcoin well to be able to earn profit. But for the economy, I think bitcoin really is causing negative effect because many businessman are putting or investing their money now on bitcoin instead of putting up a business firm which can help to improve or increase the economy of a country.

You are just an inspiration for those who are spreading these kind of rumors that bitcoin is the burning of money, as for me too bitcoin is the generator of money instead of burning of money, as I have a jo b I do my job and after job I use bitcoin to generate money and I do have a lot of extra income and saving because of bitcoin so I am not agree with those who are saying bitcoin is money burner, it is money maker for sure.

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[kissme09]

It really seems to be true. The US government has the world's largest public debt. About 20 trillion. If all who have dollars will present them for payment then America will be bankrupt. It is logical to assume that bitcoin will collect all those dollars and then go bankrupt. It is possible that bitcoin was invented and implemented by us intelligence agencies.

Those are just some of the ideas, and if it attracts all the money in the world and goes bankrupt, we can not fail because theoretically someone loses money and someone does not disappear. Those who go after and put all their trust in them are the losers and become the losers, and the forward ones are smart enough to be the last winners.

[joms07]

Destroying bitcoins and other cryptocurrencies may sound like one of the worst ideas possible. However, destroying, or burning, cryptocurrencies has actually been happening on a frequent basis and it’s not as crazy as it sounds.

[Pixyoxx]

It's nothing like burning money. The paper money is anyway not going anywhere any soon. Cryptos will evolve as an alternate method of transactions and possibly a more secure method as well.

And this won't wipe out the regular currency at all because its rooted to thousands of years and will remain for plenty more. However, bitcoin or cryptocurrency is not extracting money from the already available monetary forms. It is gaining its own value which brings this fear that one day the whole money available will be short of exchanges for bitcoins.

Well, thats not the case. Because only a limited number or amount of bitcoins will be ever produced, which would require some more decades, but it has a limit anyways which would never create an inflation in cryptomarket as compared to paper money. Once the limit is reached, maybe some more forks might be frequent, or the division of one bitcoin into multiple satoshis will occur and hence will check any possible inflation.

[West0813]

I think for an individual like me, Bitcoin is a money maker because base on my experience I did not put some capital but I earned big already, you just need to utilize bitcoin well to be able to earn profit. But for the economy, I think bitcoin really is causing negative effect because many businessman are putting or investing their money now on bitcoin instead of putting up a business firm which can help to improve or increase the economy of a country.

You are right many of us here in our place think bitcoin is a money maker. Many of us make a lot of money through bitcoin. Now we can produce the needs of our family and we improve our way of living.

[Usafstar]

Every one has separate opinion and the only thing which will change with bitcoin is the use of paper money the people will less use paper money and many people will use this money for cash transaction may be So it is good to say this to every one that with the bitcoin many unemployed people get employees with this currency and hope that if the bitcoin is used for many other things then the employment through bitcoin will be high.

[Sidiq SP]

the information circulating is so true, it's just that until i ni i have not gotten the truth about this real news, if friends have strong proof of the accuracy of this news, please give that information to me, thank's

[Theb]

It's nothing like burning money. The paper money is anyway not going anywhere any soon. Cryptos will evolve as an alternate method of transactions and possibly a more secure method as well.

And this won't wipe out the regular currency at all because its rooted to thousands of years and will remain for plenty more. However, bitcoin or cryptocurrency is not extracting money from the already available monetary forms. It is gaining its own value which brings this fear that one day the whole money available will be short of exchanges for bitcoins.

Well, thats not the case. Because only a limited number or amount of bitcoins will be ever produced, which would require some more decades, but it has a limit anyways which would never create an inflation in cryptomarket as compared to paper money. Once the limit is reached, maybe some more forks might be frequent, or the division of one bitcoin into multiple satoshis will occur and hence will check any possible inflation.

I agree because without Fiat Currency Bitcoin or any other cryptocurrency won't have any value. Fiat currency is still there and is still serving the main purpose as the medium of exchange for majority of the population. Bitcoin even if its the most popular cryptocurrency won't have the necessary means to defeat Fiat currency. The most realistic reason out there is because Fiat currency is more practical to be used physically when buying goods.

[Ryan Tirta Permana]

It really seems to be true. The US government has the world's largest public debt. About 20 trillion. If all who have dollars will present them for payment then America will be bankrupt. It is logical to assume that bitcoin will collect all those dollars and then go bankrupt. It is possible that bitcoin was invented and implemented by us intelligence agencies.

Indeed they say things that are quite logical and it is also their right to say it for a reason quite logical, I do agree with them and I understand a bit of the government's opposition to bitcoin for legal payments.

[ucingucingan]

many Economists in CNBC say bitcoin is burning money and they talk about many reason which not understand  it

So what do you think about tha

I think it is not a bitcoin fault if you suffer a loss, in a tradinh world or an investment there is always a risk of always being present every chance it comes back to us to make good use of both, if bitcoin is considered to burn your money I think it is just a trick to lower the price so they can buy bitcoin in large quantities

[pharaon]

It really seems to be true. The US government has the world's largest public debt. About 20 trillion. If all who have dollars will present them for payment then America will be bankrupt. It is logical to assume that bitcoin will collect all those dollars and then go bankrupt. It is possible that bitcoin was invented and implemented by us intelligence agencies.

Do you really think so?
I wanted to ask, before whom does the US government have such a huge debt? From your words it turns out that they have created secret services bitcoin, now they want to regulate it?

[RudeeTam]

I don't know about bitcoin is burning money but I am earning them with BTC. I don't know much about the math of the total amoun of money and it's relation to bitcoin but what I do know is that people pay money to get bitcoin and they also make money from it.

[rickadone]

It really seems to be true. The US government has the world's largest public debt. About 20 trillion. If all who have dollars will present them for payment then America will be bankrupt. It is logical to assume that bitcoin will collect all those dollars and then go bankrupt. It is possible that bitcoin was invented and implemented by us intelligence agencies.

Indeed they say things that are quite logical and it is also their right to say it for a reason quite logical, I do agree with them and I understand a bit of the government's opposition to bitcoin for legal payments.

What is so logical about what they are saying and how does that even have anything to do with bitcoin? It has already became obvious right from time that dollar has been crashing in its value, so to me, bitcoin is not burning the money, but money burning itself, and moreover, I still do not see how fiat or physical cash will still not stay relevant, so at the end, bitcoin will only serve more as a safe haven for those who believe in holding it more than the crappy fiat.

Bitcoin even if its the most popular cryptocurrency won't have the necessary means to defeat Fiat currency. The most realistic reason out there is because Fiat currency is more practical to be used physically when buying goods.

Realistically, it is not even something that can even happen. The government will always want fiat to stay relevant and they will always do everything in their power to make that happen. Bitcoin on the other hand will serve as digital currency for global exchange, so the idea of burning of money or any term anyone wants to call it does not sound reasonable at all.

[BitcoinCommodor]

Every one has separate opinion and the only thing which will change with bitcoin is the use of paper money the people will less use paper money and many people will use this money for cash transaction may be So it is good to say this to every one that with the bitcoin many unemployed people get employees with this currency and hope that if the bitcoin is used for many other things then the employment through bitcoin will be high.

Paper money is going nowhere, at least not anytime soon. If it is by that, cashless policies would have ridden physical cash by now.

However, we cannot let people keep thinking what they want to think, as they are all entitled to their opinion but I am not seeing how bitcoin is going to get fiat out of the system at all and in as much as bitcoin is here to stay and remain, fiat will always in one way play alongside with it. So, burning of money or whatever anyone calls it does not make any sense.

[KEPLER99]

It really seems to be true. The US government has the world's largest public debt. About 20 trillion. If all who have dollars will present them for payment then America will be bankrupt. It is logical to assume that bitcoin will collect all those dollars and then go bankrupt. It is possible that bitcoin was invented and implemented by us intelligence agencies.

Do you really think so?
I wanted to ask, before whom does the US government have such a huge debt? From your words it turns out that they have created secret services bitcoin, now they want to regulate it?

There are somethings we really should not be bothering listening to or reading and that is one of them. Physical cash and fiat cannot be wiped out, if US is owing debt, that is for their pocket, but someone assuming that bitcoin is created by US central intelligence and assuming it to be controlled sounds pathetic.

If anyone feels safer to keep bitcoin instead of cash, so be it, we will always have those who believe otherwise, and so the idea of bitcoin burning money once again is pathetic.

[Iblis 02]

if many people turn to bitcoin it is certain that many people assume that because indirectly bitcoin able to beat the value of the currency.
but that will never happen because the majority of people trust the currency they hold rather than bitcoin whose value is unpredictable.

[Basmic]

if many people turn to bitcoin it is certain that many people assume that because indirectly bitcoin able to beat the value of the currency.
but that will never happen because the majority of people trust the currency they hold rather than bitcoin whose value is unpredictable.

If everything happens as you say then where does the capitalization of bitcoin come from? Now this value is still very small, about 450 billion dollars. But it is also money. In fact, the demand for Fiat decreased by this amount. This is just the beginning. This process will not stop. If will begin the second wave of global crisis the she can bury Fiat.

[mOgliE]

Hi,

I don't really think so...

Most fiat currencies are currently... Well made up out of nothing. The gold standard has long gone.. I guess that in Western countries, authorities would like things to remain as they are. They see that the system is on the verge of collapsing because it relies on nothing.

Bitcoin may be one of the tool that will make all the system blow. But I'm convinced it is not the only one and actually it is the only option I see allowing people to manage a financial authority by themselves, without any control authority leading it.

[boilfels]

I think they say truely because bitcoins are really sinking the fiats by slowly taking over it globally

[1battermainsheet3]

NO way it is doing so. Because there are still many people infact the number is more than that using bitcoins in the fiats economy