Bitcoin Forum
June 19, 2024, 09:11:50 AM *
News: Voting for pizza day contest
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: Bitcoin as the Global Reserve Currency?  (Read 945 times)
mindfulmojo (OP)
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile
November 09, 2013, 10:09:46 PM
 #1


Think it could ever happen?

http://www.zerohedge.com/news/2013-11-07/bitcoin-soars-over-300-question-arises-could-it-become-global-reserve-currency

I think it would be awesome if could be... That would leave no one government in control of the world...  Grin
n00ber
Sr. Member
****
Offline Offline

Activity: 560
Merit: 253



View Profile
November 09, 2013, 10:18:00 PM
 #2

Bitcoin could be a global reserve currency once its cap reaches 1 trillion USD.

mindfulmojo (OP)
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile
November 09, 2013, 10:22:58 PM
 #3


That could happen sooner than anyone thinks...

I wonder what one bitcoin is worth in the Zimbabwe dollar? lol

Anybody want to figure out the math?
Gator-hex
Hero Member
*****
Offline Offline

Activity: 490
Merit: 500


View Profile
November 09, 2013, 10:26:06 PM
 #4

Quote
I think it would be awesome if could be... That would leave no one government in control of the world...

Governments don't choose the currency, corporations decided what currency they accept, that's why communist countries have empty shelves.

 Wink

tondaS
Full Member
***
Offline Offline

Activity: 122
Merit: 100


View Profile
November 09, 2013, 10:28:22 PM
 #5

Bitcoin will be digital store of value, like gold is physical store of value
mindfulmojo (OP)
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile
November 09, 2013, 10:30:04 PM
 #6

Quote
I think it would be awesome if could be... That would leave no one government in control of the world...

Governments don't choose the currency, corporations decided what currency they accept, that's why communist countries have empty shelves.

 Wink


I disagree... the banks control the currency.

The US dollar is not controlled by United States, it's by the Federal Reserve, they are completely separate.  

The reason the United States goes to war in the middle east is not to bring any sort of "peace".

It's because the US dollar is the petrodollar... Countries may only buy oil with the dollar, or we bomb the hell out of them.

Banks love war... War = profit.
freethink2013
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
November 09, 2013, 10:35:58 PM
 #7

It's looking a lot like china has given up on the dollar. And I don't blame them tbh. Most americans don't even realise that the only thing keeping them afloat is the notion that they are the world's reserve. It makes 'sense' for a while but with the constant printing their way out of trouble eventually people need something with a foundation. Gold is good but bitcoin you can send over the internet.
yogi
Legendary
*
Offline Offline

Activity: 947
Merit: 1042


Hamster ate my bitcoin


View Profile
November 09, 2013, 10:43:23 PM
 #8

Anyone have an opinion on what might be the American response should bitcoin threaten to topple the dollar?

st4nl3y
Legendary
*
Offline Offline

Activity: 1050
Merit: 1000


View Profile
November 09, 2013, 10:45:57 PM
 #9



I disagree... the banks control the currency.

The US dollar is not controlled by United States, it's by the Federal Reserve, they are completely separate.  

The reason the United States goes to war in the middle east is not to bring any sort of "peace".

It's because the US dollar is the petrodollar... Countries may only buy oil with the dollar, or we bomb the hell out of them.

Banks love war... War = profit.

[/quote]


totally agree.
Jochen
Member
**
Offline Offline

Activity: 228
Merit: 10


View Profile
November 09, 2013, 10:49:44 PM
 #10

Isn't the government going to forbid that from happening? They lose all taxes and control.. I don't think they will let this.
freethink2013
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
November 09, 2013, 11:30:59 PM
 #11

Anyone have an opinion on what might be the American response should bitcoin threaten to topple the dollar?
Print more dollars
mindfulmojo (OP)
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile
November 09, 2013, 11:37:38 PM
 #12

That truly is the answer to everything... There is no such thing as a free market in the US anymore...  Sad
cavebro
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
November 09, 2013, 11:38:46 PM
 #13

Isn't the government going to forbid that from happening? They lose all taxes and control.. I don't think they will let this.

actually they get more control if you think about it. there would be a digital trail. Not like cash
montecristo83
Member
**
Offline Offline

Activity: 112
Merit: 10


View Profile
November 09, 2013, 11:40:53 PM
 #14


That could happen sooner than anyone thinks...

I wonder what one bitcoin is worth in the Zimbabwe dollar? lol

Anybody want to figure out the math?

1 BTC = 132.093.500 Zimbabwe Dollar. Cheesy
freethink2013
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
November 09, 2013, 11:44:16 PM
 #15

The big thing will be syria or iran trading oil for bitcoin. gaddafi was toppled not because he was a terrorist but because he was considering not using petro dollars.
MaxBTC1
Newbie
*
Offline Offline

Activity: 56
Merit: 0


View Profile WWW
November 09, 2013, 11:46:37 PM
 #16

Anyone have an opinion on what might be the American response should bitcoin threaten to topple the dollar?
Print more dollars

Lel, probably this.  I wish western government would for once be forward thinking and pro active and not just try to ban or regulate something as useful as bitcoin.
yogi
Legendary
*
Offline Offline

Activity: 947
Merit: 1042


Hamster ate my bitcoin


View Profile
November 09, 2013, 11:52:52 PM
 #17

Anyone have an opinion on what might be the American response should bitcoin threaten to topple the dollar?
Print more dollars

Wouldn't that be self defeating?

mindfulmojo (OP)
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile
November 09, 2013, 11:54:22 PM
 #18


Well it's like being addicted to a powerful drug... It's too late to wean off of it now. Only thing keeping the stock market afloat.
mearylll
Sr. Member
****
Offline Offline

Activity: 315
Merit: 250


View Profile
November 09, 2013, 11:57:33 PM
 #19

The big thing will be syria or iran trading oil for bitcoin.

Not before they can spend the bitcoin for something usefull like weapons  Smiley
freethink2013
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
November 09, 2013, 11:59:09 PM
 #20

The big thing will be syria or iran trading oil for bitcoin.

Not before they can spend the bitcoin for something usefull like weapons  Smiley

pretty sure they get free weapons from iran/russia. it was a bad example tbf.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!