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Author Topic: The US Dollar has DEBT and Bitcoin has none  (Read 281 times)
jamesashmore1964
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July 15, 2018, 05:03:14 AM
 #21

The US dollar is FLAWED
Bitcoin is not!
Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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July 15, 2018, 06:27:37 AM
 #22

Definitely bitcoin is the future that is not so far away.It is difficult for me to imagine what the world will be after the official adoption of bitcoin as a means of payment and mass application.I don't know when fiat will leave but I think it will happen soon.about the founder of bitcoin, we will know soon.He was going to release his own book.We'll wait for her to come out.I think it will be very interesting

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July 15, 2018, 08:27:35 PM
 #23

You are simply wrong here, the US dollar holds NO DEBT. It is a currency that is being used and wouldn't be able to hold debt, as no one is going to lend money to a currency which has no way to pay it back (as a currency, of course, has no revenues or expenses) You're thinking of the US government and you're confusing the government that is backing the currency and the currency itself.

Bitcoin and the US dollar BOTH have no debt.

Bitcoin has no debt, while the US government does have debt (like PRETTY MUCH EVERY OTHER GOVERNMENT) That's just how it is.
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July 20, 2018, 02:27:32 PM
 #24

Is the dollar comparable to the BTC? The dollar is a fixed legal tender, but the BTC is a speculative product and they cannot be compared.

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July 27, 2018, 09:32:22 PM
 #25

Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!

That's why dollar is said to collapse surely one or the another day.At that time,big shots like Warren Buffett,Bill gates,etc would be the ultimate losers who usually used to say that bitcoin is nothing but an illusion.
Exactly. I see it too.
That is why the dollar is supposed to collapse for sure one day or another.
At that time, there will be losers who are often used to saying that bitcoin is nothing but an illusion.
With all these shortcomings, Bitcoin caused more confidence than the dollar, with public debt, sold to everyone.

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July 31, 2018, 01:21:42 AM
 #26

Always remember that the US Dollar has Hellfire missiles and attack planes and Bitcoin has none.  Bitcoin and free money will win in the end but there is going to be a fight. 
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August 05, 2018, 07:35:15 AM
 #27

The whole world has debts. Bitcoin is cryptos because no one can manage it, so it does not have public liability. The amount that the dollar. But the obligation of the dollar does not affect the economy of this country, when so many other countries are suffering from public debt pushed a lot.
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August 07, 2018, 09:35:05 AM
 #28

Yep. When you have a currency supply that is not kept in check by one mechanism or another, it's really hard to justify why this currency would be able to retain its value in the long run and not implode or collapse in one way or another.

This is the exactly what fiat is. After the USD got off the gold standard, the government has had full control of the currency supply. And this is shown through historical data where fiat currencies have gone nowhere but down in value in the long run.

Bitcoin, gold, and silver are three of the best long term hedges against a fiat collapse/depreciation, and in my opinion, bitcoin currently would probably be the most practical and biggest emerging asset out of all three.

jamesashmore1964
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August 20, 2018, 01:15:00 PM
 #29

Bitcoin is becoming popular and it is also not acceptable all the countries. If bitcoin remains their performance then they will acceptable all the countries and then bitcoin will compete with dollars.

It is happening!
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September 02, 2018, 12:55:07 PM
 #30

This is an interesting fact. I also think that someday bitcoin will take over FIAT currency. It will take much time but will happen someday hopefully. Still we couldn't be independent of  traditional currency.
I don't believe bitcoin can replace fiat money, because paper money especially the US dollar, has dominated the world. Even in remote areas, the US Dollar is known and acceptable, although it must be exchanged in advance in Money Changer to become a local currency, because in each country it has its own local currency. So bitcoin will dominate the digital currency starting the next decade.
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September 02, 2018, 01:22:12 PM
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 #31

Governments can't adopt bitcoin as their only currency because the current financial system runs off debt.  You can't just create more bitcoins with fraction lending like how the central banks do.

Also if they ended up creating a government currency with a ledger that was able to be changed by a single person then it would no longer be a true decentralized cryptocurrency.

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September 02, 2018, 01:51:00 PM
 #32

Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!


You don't have enough basis for calling flat will fail and will implode eventually. It may look to you that cryptocurrency is the futuristic one but the problem with that is there is no guaranteeing its price other than demand and limilted supply. Government could make their own blockchain technology to engage in transactions but not removing the usual flat we know. They can make a crediting system where in it uses both cryptocurrency for online and flat currency for offline transactions which I think the safest thing to tell right now because I see it in my country.

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September 03, 2018, 05:06:58 AM
 #33

The US dollar does not have debt, the US has debt and the dollar is there choice of currency. Debt is not an issue for a currency in a direct way. Only because often these countries cannot repay their debt so resort to printing money and this in turn leads to inflation.

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September 03, 2018, 05:36:09 AM
 #34

The US dollar does not have debt, the US has debt and the dollar is there choice of currency. Debt is not an issue for a currency in a direct way. Only because often these countries cannot repay their debt so resort to printing money and this in turn leads to inflation.

This is more correct statement, the one that got debt problem is US, not the dollar, and having debt is not too bad, it shows that the currency is more flexible, and dont worry about the currency going to implode, usually a centralised currency will more stable and more adaptable to the situation, a lot of people choosing bitcoin because it is decentralised and easy to used, its not about the coin having debt or not

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September 03, 2018, 06:42:03 AM
 #35

Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!

well its too bold to say fiat is useless and going to fail. I just believe why bitcoin or altcoins is future cause they seems good and could turn out to be a currency for transaction but i believe it would be true cause human live is keep developing and this technology is really good to be use for transaction. Despite all of good reasons there is a real problem with cryptocurrency, crypto are to volatile and too complicated for some people. So i believe many people would stick into fiat currency.

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September 03, 2018, 07:00:00 AM
 #36


The founder of Bitcoin understood this: He was and is a genius!


We can think that Satoshi Nakamoto had no idea that bitcoin will be a mainstream like he/she just started from a scratch and likely should be use as a currency. And since bitcoin had seen a potential it drawn attention to people and that what made bitcoin valuable otherwise an asset.

Is the dollar comparable to the BTC? The dollar is a fixed legal tender, but the BTC is a speculative product and they cannot be compared.

You know it's hard not to compare because the value of bitcoin is always measure in dollars. Likely, we can't tell 1 bitcoin is $7200, isn't it? By the way, I'm talking about the monetary aspect.

Well the fact that bitcoin hasn't backed by anything, so in which it can't have a real debt like fiat.

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September 03, 2018, 07:07:20 AM
 #37

I live in a country where interest in the US dollar is falling rapidly at all levels of the population. Those people who have a lot of dollars are interested in and buy crypto-currencies (BTC, ETH). I think that the process of transition from the massive use of fiat to the use of crypto currency has already begun.

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September 04, 2018, 07:23:35 PM
 #38

They are not similar tho. Bitcoin has no debt because bitcoin is not centralized and it can not create debt, bitcoin is not an entity that can get debt from people, even the developers and the blockchain community that improves it doesn't get money or even if it does its usually donation so in the end they do not acquire debt like some entity.

Moreover, USA is not like that USA is a big country, probably biggest in terms of economy considering they affect the whole globe (2008 economic crisis caused by some banks leveraging their house mortgages and because some american banks leveraged mortgage credits, COUNTRIES fell to debt and financial crisis) and because they are world powers, they can get debt and people who they owe debt knows USA will eventually pay because they are good for it.
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September 04, 2018, 08:32:16 PM
 #39

The US has no debt, governments and citizens have. If Bitcoin has no debt, be sure people will use Bitcoin to create more debt as soon as it can be used.
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September 05, 2018, 01:38:52 AM
 #40

Bitcoin is the Future: Countries that have flawed currencies are turning towards Bitcoin/ Crypto: FACT
FIAT will fail because it went off the gold standard!
FIAT will implode eventually!
The founder of Bitcoin understood this: He was and is a genius!

It is obvious that the fiat system is going to fail at some point in the future what we do not know is what it is going to replace it? Will cryptocurrencies take over? Will gold take over? Or will politicians devise an even worse system than the fiat system and then try to apply it to the whole world? That is going to be a very interesting question and I'm certain that we're going to find that in the next decades.
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