Be Honest- who hopes the USA defaults so BTC skyrockets?

[crazy_rabbit]

Self serving and cynical perhaps, but it has to be on people's minds, especially with the price climbing the nearer we get to a potential default.

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[Ivanhoe]

I hope it collapses now, because if it collapses in the future it will only be worse. The system unfortunately has to collapse in order to be replaced by a honest system. 

[Raize]

The US won't default. If it did, it'd be the biggest nincompoopery ever, and whoever was president at the time would go down in the annuls of history as a complete moron. Then again, if you look at the makeup of the US today, how many folks with credit card debt would rather go to the theater and eat out than make their credit card payment for a month?

[bobdude17]

To quote George Carlin

"I like seeing people UNDER PRESSURE!"

So a part of me honestly wants it to happen just to see what would happen next. It would obviously benefit my btc holdings yes.

But also I live in a metropolitan area of America, and the prospect of a breakdown is scary. There are so many drugs and guns here, and no real access to food. It is frightening.

Guess we'll see.

[vitalemontea]

The US won't default. If it did, it'd be the biggest nincompoopery ever, and whoever was president at the time would go down in the annuls of history as a complete moron. Then again, if you look at the makeup of the US today, how many folks with credit card debt would rather go to the theater and eat out than make their credit card payment for a month?

I don't think anyone would go out and eat in debt and with no plan how to pay it off.

[Bitcopia]

If you want the US to default for the SOLE purpose of increasing the value of your bitcoin holdings, you have a mental disease. I hope the title misrepresents the intended idea...

[ElectricMucus]

If you want the US to default for the SOLE purpose of increasing the value of your bitcoin holdings, you have a mental disease. I hope the title misrepresents the intended idea...

It's called Bitcoinism.

And your hope is a lost cause. Also pay attention to my signature.

[zeroday]

BTC will skyrocket anyway.

If US defaults, btc will jump because USD failed.
If US doesn't default, it will cause deep recession, which will shot btc ever higher.


Recent SR news attracted a lot of attention to bitcoin. People's just discovered that even US judicial monster machine cannot seize $80M worth of bitcoins from arrested drug lord. It proves that BTC is probably the most secure place to keep your wealth. Many investors and traders started discussing bitcoin in recent days.

[theonewhowaskazu]

I don't want the US to default, primarily because I have money invested in the US.

Even if I sold every USD in my bank account to buy BTC, I'd still be screwed if the USG defaulted.

[BitcoinAshley]

Um.
Allow me to point out the obvious.

If the US actually does default, the economy (which is right now precariously balanced on liquidity injections and ridiculous levels of federal spending) will likely collapse. That means gas shortages, food shortages, riots, etc.

Sure, the dollar will tank. But it doesn't matter how much BTC skyrockets or how much it is "worth" against another currency if there aren't any goods around to buy with it. You could price BTC with rice or gas but if there is no rice or gas such a measure is meaningless.

If there is no gas in the gas station what does it matter how much BTC is "worth"? If there is no food in the store what does it matter how much an ozt of gold is "worth" via some other measure, if there is no food to buy with it? It's merely an intellectual curiosity if there are no goods.

Who is going to accept currency for a good when they can't turn around and buy other goods with that currency?

The use for currencies - fiat or otherwise - in a post-default economic shutdown scenario is wayyy overstated by many of these alt media bitcoin/gold pundits.

[theonewhowaskazu]

Why exactly do you believe that a government default will prevent food producers from making food?

Seriously, I have no idea what you're on about.

[BitcoinAshley]

Why exactly do you believe that a government default will prevent food producers from making food?

Seriously, I have no idea what you're on about.

Who said that a government default would directly prevent food producers from making food?

That is a ridiculous assertion and an offensive oversimplication. Is that how they teach people to think these days?

Google "economic collapse" "stock market collapse" "hyperinflation" "hyperdeflation" "government default" and learn about the myriad secondary, tertiary, etc effects caused by various significant government and economic catastrophes. This isn't kindergarten. I expect people to have at the very least a highschool- or college-level understanding of economics.

(Also, lol @ the insane level of condescension I managed to pull off in this post.)
(Also note how I humorously imply that one can become educated via google searches of certain keywords)

[ElectricMucus]

Guys the Tea Party Idiots gave in obamacare is coming, the crisis is more or less resolved because the troublemakers lost credibility.
They gonna raise the debt ceiling and have another war after Obamas term is over and a new mainline republican president is in office.

[Mike Christ]

Um.
Allow me to point out the obvious.

If the US actually does default, the economy (which is right now precariously balanced on liquidity injections and ridiculous levels of federal spending) will likely collapse. That means gas shortages, food shortages, riots, etc.

Sure, the dollar will tank. But it doesn't matter how much BTC skyrockets or how much it is "worth" against another currency if there aren't any goods around to buy with it. You could price BTC with rice or gas but if there is no rice or gas such a measure is meaningless.

If there is no gas in the gas station what does it matter how much BTC is "worth"? If there is no food in the store what does it matter how much an ozt of gold is "worth" via some other measure, if there is no food to buy with it? It's merely an intellectual curiosity if there are no goods.

Who is going to accept currency for a good when they can't turn around and buy other goods with that currency?

The use for currencies - fiat or otherwise - in a post-default economic shutdown scenario is wayyy overstated by many of these alt media bitcoin/gold pundits.

There will certainly be a period of time where we recover, but this is not to say the world is "over" once America finally buckles.  Believe it or not, there will still be a future after the tribulation; just as all other empires have kicked the bucket, we always figure out how to get along without them.  As much as America would like you to believe that they're the center of the economic universe and their existence is necessary for the world to survive (reminds me of something God might say), it's not nearly as bad as it's being made out to be.

My advice: don't be in America or one of its dependencies once SHTF and the effects will be minimal, assuming America doesn't attempt to nuke the planet to death to stay on top.

[derpinheimer]

Um.
Allow me to point out the obvious.

If the US actually does default, the economy (which is right now precariously balanced on liquidity injections and ridiculous levels of federal spending) will likely collapse. That means gas shortages, food shortages, riots, etc.

Sure, the dollar will tank. But it doesn't matter how much BTC skyrockets or how much it is "worth" against another currency if there aren't any goods around to buy with it. You could price BTC with rice or gas but if there is no rice or gas such a measure is meaningless.

If there is no gas in the gas station what does it matter how much BTC is "worth"? If there is no food in the store what does it matter how much an ozt of gold is "worth" via some other measure, if there is no food to buy with it? It's merely an intellectual curiosity if there are no goods.

Who is going to accept currency for a good when they can't turn around and buy other goods with that currency?

The use for currencies - fiat or otherwise - in a post-default economic shutdown scenario is wayyy overstated by many of these alt media bitcoin/gold pundits.

Seems like nonsense to me. Doesnt matter if its China, Japan, or USA. If a huge economic powerhouse goes down, so does the rest. Theyre all relying on the same BS.
There will certainly be a period of time where we recover, but this is not to say the world is "over" once America finally buckles.  Believe it or not, there will still be a future after the tribulation; just as all other empires have kicked the bucket, we always figure out how to get along without them.  As much as America would like you to believe that they're the center of the economic universe and their existence is necessary for the world to survive (reminds me of something God might say), it's not nearly as bad as it's being made out to be.

My advice: don't be in America or one of its dependencies once SHTF and the effects will be minimal, assuming America doesn't attempt to nuke the planet to death to stay on top.

[Mike Christ]

Seems like nonsense to me. Doesnt matter if its China, Japan, or USA. If a huge economic powerhouse goes down, so does the rest. Theyre all relying on the same BS.

Feel free to elaborate; I'm all ears.

[Beta-coiner1]

Guys the Tea Party Idiots gave in obamacare is coming, the crisis is more or less resolved because the troublemakers lost credibility.
They gonna raise the debt ceiling and have another war after Obamas term is over and a new mainline republican president is in office.

You REALLY believe this?

I think we won't know for sure until at least 6:00 PM on Wednesday. due to how Senate rules work.If Senator Ted Cruz has his way and the tea party in the House forcing Boehner's hand all the time[Hastert rule] it is very likely there will be a US default and the House GOP loosing a House that was Gerrymandered just for them come the next election.A lot of people aren't saying it but their fuming about this concerning the Republicans.

[viboracecata]

It won't happen, but I think most of the people in this community hope this happen. why not?

[SaltySpitoon]

I don't especially think the price of BTC will increase because of it, however I'm curious as to what will ACTUALLY happen if the U.S defaults. People speculate a lot of things, however its one thing to guess, and another to see. I'm half hoping they do default to scratch my curiosity, however it could cause issues that I don't especially want to happen. So I just am going to go with what happens happens.

If anything, this situation has taught "normal" folks that the government can screw up. So hopefully those 50 year old people who follow the U.S Gov blindly and just assume that everything is for the best, will start to develop a new Nixon era skeptism.

[tvbcof]

If I got to choose between economic life going on more-or-less as it has been indefinitely or a crash, I'd probably choose the status quo.  But that is not really the choice.  We are in my belief nearing the end of our current monetary regime, and probably the sooner the re-set button is pushed, the less overall grief will be experienced during the reboot process.

So, Ya, I'd like to see a default and system collapse during the time when Bitcoin is viable as a widely distributed non centrally managed peer2peer system, and this would coincide with the period of time when I hold chunk of BTC (because I will be liquidating my BTC position as the nature of the solution changes.)  Ultimately the reason I'd like to see the USD system collapse while I'm positioned to clean up on Bitcoin is mostly pure greed.