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

[Zaih]

Definitely keen to see it burn. 

[FullLife]

Anyone who voted yes doesn't even begin to realize the consequences of a default.  Trust me, you wouldn't even care what happens to BTC because it would be absolute chaos.

[tvbcof]

Anyone who voted yes doesn't even begin to realize the consequences of a default.  Trust me, you wouldn't even care what happens to BTC because it would be absolute chaos.

I agree.  But if the question becomes 'when' rather than 'if' the medicine is to be chocked down then it is legitimate to ponder.

I would expect that the chaos would/will be mitigated somewhat by martial law and a command economy here in the U.S.  My only hope is that these constructs are transitory and that the general public retains enough power to terminate both very unhappy eventualities when they are clearly no longer the least-bad course of action.

In fact Bitcoin is currently evolved to a sweet spot where it has the potential to provide a significant empowering effect which could be very useful in promoting an end to totalitarian rule should it occur.  That is a more valid reason than 'pure greed' when it comes to hoping for a 2013 default and monetary re-boot.

[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.

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

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.

Why will there suddenly be no rice or gas etc... to buy? Hyperinflation you might argue would make people SPEND all their money consuming all the rice/food/etc... on shelves, but after the cat's out of the bag anybody with a brain wouldn't accept a rapidly inflating currency, and would sell his goods (which by all means he can continue to make, paying his workers in the inflating currency if possible) for a stable currency.

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)

(Also, lol @ the fact that you entirely ignore my point by throwing around as much terminology as you can lay your hands on)

[cypherdoc]

[freedomno1]

If we are going down this route:

I want this revolution to be over the United States creating a new governmental system the state needs a new governmental system
The roots needs to be purged and refreshed
As long as the military keeps the nuclear weapons out of play as a bargaining chip we can see real change by a default

Mumbles or
World War III

[spike420211]

FU OP. Semi-Retired here, depend on that Social Security.
And I contributed for 20 years u young punx.

[Elwar]

FU OP. Semi-Retired here, depend on that Social Security.
And I contributed for 20 years u young punx.

Just because you paid taxes does not mean you deserve welfare.

You paid SS taxes. Just like any other tax. That tax money combined with all of the other taxes to pay for Vietnam and a bunch of fun stuff that you benefitted from including welfare for the poor and for the elderly.

You are now collecting welfare, paid for by our taxes.

[Elwar]

As for the OP, take into account how many BTC you have right now. The bottom will drop out and you will be relying upon your current Bitcoin net worth to live on. That Bitcoin will buy just about what you can buy now with Bitcoin no matter what the value of the dollar is. A loaf of bread per Bitcoin will still be worth the same loaf of bread per Bitcoin price even if Bitcoin is worth $1,000 and the bread costs $50.

The only benefit is if you are in debt. You will be able to pay off your house and other debt with a few BTC. Your income will be shit.

[freedomno1]

FU OP. Semi-Retired here, depend on that Social Security.
And I contributed for 20 years u young punx.

In before those young whipper snappers
Except that darn youngun elwar XD

[crazy_rabbit]

Anyone who voted yes doesn't even begin to realize the consequences of a default.  Trust me, you wouldn't even care what happens to BTC because it would be absolute chaos.

I wonder if this is actually true. It seems like since 2008 the world has been gradually getting used to the idea that America is not the 'center of all things' anymore. I'm sure it would be drastic, but I wonder how drastic- after all it's not like Greece where they actually just don't have the money, but more like we were CHOOSING not to pay our bills. I think plenty of people would realise eventually we would cover our debts just a matter of time for the politicians to get it right.

I think this is the area for which it would be good for bitcoin, as at least a few years ago, we were still talking about how we wanted a money free from politicians stupidity.

Anyway, Encrypted Money Baby!

[wobber]

That's why the world is fucked up. Because many are willing to trade their fellow for profit.

Oh really? Hoping that some diabetic dude living in a trailer in US gets even poorer so bitcoin price will rise. What a waste of brain matter on economics and all since a 10 yr old kid can see that we have sufficient resources for everyone but egocentrically managed. Some too poor, some too rich.

Careful what you wish for and what toys you play with.

[Erdogan]

I hope it defaults now, because the alternative is a multi-year long slide into totalitarianism, complete with concentration camps.

[TheEmperor]

Oh, I make no secret of wanting the US to default. However, the reason isn't because i want to see the BTC price rise.

The whole American economic and monetary model is broken. Artificially inflated by Bernakes reckless and relentless printing of billions of dollars a month. Little to no clue as to what Wall St is up to and 17.5 Trillion+ in Debt...and you want this gravy train to keep on rolling?

It has come to the point where this tincan can no longer continue being kicked down the road.

While the global financial fallout from a default would be big, complete lose of faith in the dollar isn't the be all and end all. The British Pound, and to some small degree the Euro, Yuan and Yen could all be used as viable alternatives. Regardless though, a US default is the only way we are ever going to see a change!

This event is inevitable imho. Maybe this default will be averted until February, but what happens then, raise the debt ceiling again and just continue doing that and printing more money to buy your own bonds to keep the market afloat?  Why not lobby to just completely remove it now if your so happy for the current system to continue on the way it is?

To believe that Bitcoin will one day become a powerhouse in the world of global finance and revolutionize the way the world transacts with each other, then you can't seriously believe that averting a default is the best course of action to bring about this change? Especially when the biggest opponent to BTC right now is the US!

From the sites I frequent, there has definitely been a noticeable rise in the number of Americans going 'back to basics'. Many have seen that this is coming and have become a lot more self sustainable. If your so worried about food shortages maybe this is an option you should explore?

In a post apocalyptic country, maybe those Monsanto GM crops won't be so bad after all 

[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.

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.

Well, first there isn't a fixed deadline, the 17th is just an estimation, with some safety margin. Estimations without the margins are somewhere around the 22nd, 23d, 24nd.
Second, you'd be surprised how many people will switch camps when it is about actually winning an election.

[ElectricMucus]

In a post apocalyptic country, maybe those Monsanto GM crops won't be so bad after all 

Not funny.

[TheEmperor]

In a post apocalyptic country, maybe those Monsanto GM crops won't be so bad after all 

Not funny, in my opinion.

FTFY

[tutkarz]

wasn't bitcoin created because of big crisis's and incompetence of governments? Nothing surprising in expecting that people who invested in bitcoin wants governments to not stop their behaviour.

[HeliKopterBen]

FU OP. Semi-Retired here, depend on that Social Security.
And I contributed for 20 years u young punx.

The difference between you and the younger generation:  the younger generation knows they will not recieve the benefit they paid for, but your generation still expects to recieve it.  How does it feel to be on the wrong end of the greatest ponzi scheme ever concocted?

[Shermo]

In a post apocalyptic country, maybe those Monsanto GM crops won't be so bad after all 

Not funny.

Whats wrong with being reliant on a mega corporation bent on profit at all costs? Also there is certainly nothing wrong with using crops that are infertile or that you legally can't harvest the seeds from for next year without a lawsuit.

/sarcasm