World debt hits new record: good for BTC

[morrisby25]

 it may actually be good for btc but not for humanity. because when the economical crises has rused slot , after that big war will follow this. unfortunately it always had happenned in the pass and will be in the future. We don't have to pray for an economic crisis but rather find ways to save yourself from it.  I think the best way is making use of bitcoin.

[DooMAD]

What the economists have shrewdly achieved is to paint these "tools" of taxation and interest as some sort of holy grail for constant growth. When constant growth and consumerism shouldn't even be the sole target of societies.

Chasing perpetual growth is the fundamental flaw in modern economics.  If you proposed a new perpetual motion machine to a physicist, prepare to be laughed out of the room.  But talk about perpetual growth to an economist and suddenly you're perfectly sane and rational.  It's farcical.  There's no sense to it at all.  Clearly the only way to support perpetual growth is to have perpetual debt, which makes both things purely conceptual abstractions.  Effectively just meaningless numbers.  IOUs enforced by authority.  But that's not a revelation.  We already know this.  It's just that no one wants to admit it because it might make society crumble if everyone understood the reality.  Pay no attention to the man behind the curtain.

[Cult]

That's true this situation is good for bitcoin, when this frail system begins to collapse people will rush into bitcoin in order to protect their savings which will, in turn, drive the price of btc up drastically.

[fokinlipat]

You need to increase your income to tackle debt. If you have time, then you should try getting a second job. This will only be until you are out of debt, but if you feel you can handle two jobs then it be a good way to save money. But if you are too tied up to work a part-time job then put your skills to work. If you have any special talent or expertise then uses it.

For example, if you know how to play a musical instrument then you can give a short one hour lesson every week to some one. Or if you are good with English, Math, or any other school subject, then you could become a tutor.

[EnricoGomez]

It is kind of sad to think of that government sees that huge pile of money is still small enough and continues to borrow even more money. Seriously, if they all died and still have not managed to fix issues of debt, younger generations will have to suffer.
It is important to definitely take the worth on everything and efficiently expend money individually.

[fiulpro]

164 trillion is huge pile of money. As per the latest data, the GDP of world is 133 trillion in terms of purchasing power parity. So the debt is increasing the GDP by almost 23%. That's a matter to worry for sure for global economics.

However, it certainly doesn't correlate with crypto market. Because Bitcoin's market cap is mainly dependent on the retail investors like us. The organized sector has not yet invested in bitcoin in a significant level. So I am sure that crypto market will remain as it is and will continue to grow.

Because this huge amount of debt is accumalted by the governments and organized financial sector. Even though banks and governments are going to recover that debt from normal people like us, any large impact on bitcoin market is not warranted at least now. Because this amount of debt was existing since last few years and within the same time, we have seen enormous growth in bitcoin market.

I believe, people will be more interested in bitcoin during an economic slowdown because bitcoin and crypto market is usually not influenced by the governments.

I do think that more or so government will somehow allow the Bitcoins to help them strengthen their economy since there are so many people involved in here in Bitcoins that they really could use all the sources that they have .

This economic slowdown could prove to be beneficial for us as a whole and help the market to intervene with the traditional ones making it stronger.

[amishmanish]

You need to increase your income to tackle debt. If you have time, then you should try getting a second job. This will only be until you are out of debt, but if you feel you can handle two jobs then it be a good way to save money. But if you are too tied up to work a part-time job then put your skills to work. If you have any special talent or expertise then uses it.

For example, if you know how to play a musical instrument then you can give a short one hour lesson every week to some one. Or if you are good with English, Math, or any other school subject, then you could become a tutor.

LOL..What the f*** man?? Are you like a real person or a bot or are just using google translate??!! Whatever it is, you clearly need some holding hands here.. The post is not a topic about someone fretting about his personal "debt". It's the Goddamn World debt of the governments we are talking about

But great advice mate. Maybe all the state heads should learn to play a musical instrument. I would love to see Donald Trump giving short one hour lesson to his friend Narendra Modi or even Kim. Ohh wait. They are already having some music and dance classes with each other..LOL

[amishmanish]

Most of times people focus on saving money to fight debt. If you need more money than you are currently making then there are options to help gain this extra income like another job.

You need to increase your income to tackle debt. If you have time, then you should try getting a second job. This will only be until you are out of debt, but if you feel you can handle two jobs then it be a good way to save money. But if you are too tied up to work a part-time job then put your skills to work. If you have any special talent or expertise then uses it.

For example, if you know how to play a musical instrument then you can give a short one hour lesson every week to some one. Or if you are good with English, Math, or any other school subject, then you could become a tutor.

Also, please stop posting like this you guys. Otherwise, you'll soon be unable to earn any merit and rank up with such patterns of posting for the sake of completing post counts.

You will then be crying like the countless other about the merit system. Here is some advice you should take. Your language skills seem good enough but you are in the danger of falling into the other kind of trap that makes it evident that you are account farmers trying to milk bounty/ signature campaigns.

Just some advice. Your choice to take it or ignore. Peace out.

[Cacingkemi]

The world's debt is so great I just found out,it's not a small amount right will BTC be the best for future assets or will BTC be part of the assets in the world's legitimate economy?prefer the best that will arise in the future with the existence of a legal BTC.

[squatz1]

I mean, I wouldn't say this is good for bitcoin. We have a massive amount of debt right now (the us and the world combined) but that doesn't mean the world is on the edge of an economic collapse. People don't really seem to care about the debt, they're not doing anything about it and politicians have no rhyme or reason to try to stop it. If you really think about it, these older politicans have no reason to try -- they're going to die before the debt becomes a real problem or the public makes it a problem.

Who knows who will benefit from this, but I don't think fiat currencies are to blame here.

[YzzyGo]

Looking at the huge amount of debt, can't help but wonder the accuracy of those numbers. When it comes to trillions, a deficit margin of billions would be significant. If ever everything is digitized like bitcoin, it would be easier to keep track and accuracy would be greater.

[fokinlipat]

LOL..What the f*** man?? Are you like a real person or a bot or are just using google translate??!! Whatever it is, you clearly need some holding hands here.. The post is not a topic about someone fretting about his personal "debt". It's the Goddamn World debt of the governments we are talking about

But great advice mate. Maybe all the state heads should learn to play a musical instrument. I would love to see Donald Trump giving short one hour lesson to his friend Narendra Modi or even Kim. Ohh wait. They are already having some music and dance classes with each other..LOL

I am as real as you. You can check by reading my pasts posts or if you are still doubtful, you can drop me a pm. In fact, going by your username, i think you are from same country as me so we can even met some day if you want.

Regarding me posting about ways to handle personal debt, don't you think it is related to government debt as well. Why do you think that governments in developing countries, go in debt quite often. This is to support fictionally weaker sections who need compensations and relief programs. If those people eliminate their debts, governments will not have to ask for loans from world bank.

[mersal]

Being realistic, it is going to take a lot of work and discipline to fight against debt. If you can get in the right mind set then you will be on the right track to getting out of debt.

Everything thing need welcome and appreciation so Bitcoin had that features ability when a new growth will always a best for its users and investors so this my opinion about this topic.

[nilavoro]

Different countries facing debt and individual debts are huge problems today. Sad to see some people happy for this as it gives them  a chance to make some money.

[nur rochid]

Being realistic, it is going to take a lot of work and discipline to fight against debt. If you can get in the right mind set then you will be on the right track to getting out of debt.

Everything thing need welcome and appreciation so Bitcoin had that features ability when a new growth will always a best for its users and investors so this my opinion about this topic.

we should be able to see opportunities, when famous bitcoin, many people have already made use of this moment long time before that. and they are the ones who are lucky and get financial freedom

[Soneo]

I think it all will not affect that problem

[Yurkov]

https://www.bloomberg.com/news/articles/2018-04-18/world-debt-hits-record-164-trillion-as-crisis-hangover-lingers

$164 trillion! That is an awfully big pile of money, but governments think it's not big enough. They keep on borrowing more every year. If there's no crash, it will be a miracle.

Pray God.
Or buy BTC!

It is and it will be bigger for me in this speed we could hit even 10% more in near years, 2022-25 will be crypto years and then prices will be real surprise for everyone.

[livingfree]

This is a large amount of money and how can the world will be able to pay this on instant? or they really have a plan to pay on this one?

To have a counter initiation of getting out of the debt is having bitcoin, getting a decentralized investment which isn't belongs to the debt of the world will bring us more money. They will never stop borrowing money so there's a huge impact on world's economy.

[Idrisu]

The world debt has been there since the inception of IMF and this figure keep growing and growing until we are were we are today. I think bitcoin should be the best form of money that will be a beneficial to us and the governments if we can actually come together and work for the development of blockchain technology and cryptocurrencies in particular. The world debt can be reduced if we are using bitcoin as money because the cost of producing paper money is too high.

[timerland]

That's why I think bitcoin is such an interesting investment, and also a very attractive one for the long term holders.

Bitcoin is simply independent from any financial system, which is something that we don't see at all in other investments. It is also decentralized, and there is a limit on the amount that can ever exist. Not to mention that it is one of the most fungible currencies available due to its anonymity.

I wouldn't say that world debt hitting an ATH will have a direct positive impact, but in times of economic difficulties, as we saw in Zimbabwe, Venezuela, Argentina, etc., Bitcoin would be incredibly useful in holding its value, unlike the fiat currency. That's why I'm personally invested in BTC.