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Author Topic: Bitcoin Hell  (Read 635 times)
ctoon6
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July 27, 2011, 04:27:26 AM
 #1



Just what i see in the USD<->BC exchange, mostly getting USD in and out of exchanges.

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July 27, 2011, 08:59:14 PM
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if debt ceiling dont get increased btc can go up way up

Its the other way around. When the debt ceiling gets increased (because it will, all they are doing now is a theater, everybody knows that they will increase the debt ceiling) it will allow for the government to keep spending and the Fed to monetize the debt. Its inflationary, bad for the dollar, bullish for competition for the dollar.

If the USA government cut spending (by not raising the debt ceiling f.e.) or even if it defaulted, then it would be another issue and the dollar could strengthen, hurting bitcoins.

But no worries. After all the theater they will raise the debt ceiling. But you get to watch the political theater. Enjoy it, you are paying for it.
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