URGENT, Bitcoin is on the verge of collapse !!!

[devphp]

igorr, which crypto currency will not die?

each will die

why?

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[igorr]

igorr, which crypto currency will not die?

each will die

why?

Because crypto not money, its just fraut, and crypto not have real value,
and not backed in gold, gas,oil, silver, and etc.......

[devphp]

Because crypto not money, its just fraut, and crypto not have real value,
and not backed in gold, gas,oil, silver, and etc.......

Most moneys these days are backed just by faith and some useful features. Cryptos have useful features, don't you think? The more useful features - the larger the faith in that crypto.

[igorr]

Because crypto not money, its just fraut, and crypto not have real value,
and not backed in gold, gas,oil, silver, and etc.......

Most moneys these days are backed just by faith and some useful features. you think?

this is not true,
money must have backed in something, oil, gas, other money, securities, gold, silver, .......
US dolar not backed and he is dead very soon,

Russia and China have signed an agreement for next 30 years and they do not want the dollar,
just Russian ruble and Chinese yuan.

[devphp]

this is not true,
money must have backed in something

In the 19th century each dollar was pegged to a certain amount of silver or gold, same as many other currencies. You could go to a bank and redeem that amount of gold or silver for the bank note. That is what backing by something really is. Nowadays, you cannot do that, dollars, rubles, yuans are not pegged to anything, there is no backing. You can only purchase those goods, products and services at free market prices. You can do the same with cryptos, although it's still hard to find merchants who accept cryptos, but it's only because cryptos are a novel concept. The difference is, fiat currencies are legal tender in a certain jurisdiction, meaning all businesses have to accept them by law and you also pay taxes in them. But fiat currencies are not backed by those materials and goods you have listed above. 'fiat' means 'by decree' of the government.

[igorr]

this is not true,
money must have backed in something

In the 19th century each dollar was pegged to a certain amount of silver or gold, same as many other currencies. You could go to a bank and redeem that amount of gold or silver for the bank note. That is what backing by something really is. Nowadays, you cannot do that, dollars, rubles, yuans are not pegged to anything, there is no backing. You can only purchase those goods, products and services at free market prices. You can do the same with cryptos. The difference is, fiat currencies are legal tender in a certain jurisdiction, meaning all businesses have to accept them and you also pay taxes in them. But fiat currencies are not backed by those materials and goods you have listed above. 'fiat' means 'by decree' of the government.

you cannot do that, for dollars but for other money you can do it. (rubles, yuan, chf, ......)

[devphp]

you cannot do that, for dollars but for other money you can do it. (rubles, yuan, chf, ......)

In theory you can, but in practise it won't happen, because this would prevent central banks from inflating the money supply (no matter which country), which they need to inflate to cover the costs of running the country and stimulate economic growth, that's in their own words. We won't discuss now how exactly they succeed to stimulate economic growth, suffice it to say that they need to inflate the money supply, which they can't do if they peg the currency to something of finite quantity. And they won't do it. Hence, there is no backing, except faith and law.

[igorr]

you cannot do that, for dollars but for other money you can do it. (rubles, yuan, chf, ......)

In theory you can, but in practise it won't happen, because this would prevent central banks from inflating the money supply (no matter which country), which they need to inflate to cover the costs of running the country and stimulate economic growth, that's in their own words. We won't discuss now how exactly they succeed to stimulate economic growth, suffice it to say that they need to inflate the money supply, which they can't do if they peg the currency to something of finite quantity. And they won't do it. Hence, there is no backing, except faith and law.

but again forgetting, " bitcoin is not money " and never will be !
When all major country recognized Bitcoin and their national banks accept bitcoin, then it will be money.
(Russia,China,India,USA,Germany,United Kingdom,Switzerland,)

It will never happen.

[Dalmar]

this is not true,
money must have backed in something, oil, gas, other money, securities, gold, silver, .......
US dolar not backed and he is dead very soon,

Russia and China have signed an agreement for next 30 years and they do not want the dollar,
just Russian ruble and Chinese yuan.

The US dollar is backed by the world's most powerful army and is linked to the petroleum market. It's not going away any time soon.

[igorr]

this is not true,
money must have backed in something, oil, gas, other money, securities, gold, silver, .......
US dolar not backed and he is dead very soon,

Russia and China have signed an agreement for next 30 years and they do not want the dollar,
just Russian ruble and Chinese yuan.

The US dollar is backed by the world's most powerful army and is linked to the petroleum market. It's not going away any time soon.

Not more,  world is changed,  
Russia and China now have powerful army
and they not more use usd, just national currency, rubles and yuan for next 30 years,
for gas, oil and other.

[Dalmar]

Not more,  word is changed,  
Russia and China now have powerful army
and they not more use usd, just national currency rubles and yuan for next 30 years,
for gas, oil and other.

Most people have more faith in the USD than the Ruble or Yuan.

Look at what happened to the Ruble during the 2008 collapse.. It got hammered because the USD is the actual safe haven in times of crisis. If a similar financial crisis happens again, expect the Rubble to get hammered.

[igorr]

Not more,  word is changed,  
Russia and China now have powerful army
and they not more use usd, just national currency rubles and yuan for next 30 years,
for gas, oil and other.

Most people have more faith in the USD than the Rubble or Yuan.

Look at what happened to the Rubble during the 2008 collapse.. It got hammered because the USD is the actual safe haven in times of crisis. If a similar financial crisis happens again, expect the Rubble to get hammered.

I dont think so, check usd chart last 10 year.

[Dalmar]

I dont think so, check usd chart last 10 year.

RUB went from 0.042 to 0.027 USD in 2008-2009.

It's a banana republic currency and will never approach reserve currency status.

[220Fast]

Russia and China got shitload of gold . USA got empty vaults and they manipulate gold to save dollar....

I can believe that god will save me from that asteroid heading on my head,but reality is what will be felt next ...

[igorr]

I dont think so, check usd chart last 10 year.

RUB went from 0.042 to 0.027 USD in 2008-2009.

It's a banana republic currency and will never approach reserve currency status.

Check chart USD/Chinese Yuan for last 10 year.

[220Fast]

Do u know this joke ?

What USA export stand on ? .... on Dollar

U know .in my country we Atleast print something usefull to export .like manuals for our cars

[Dalmar]

Check chart USD/Chinese Yuan for last 10 year.

The Yuan exchange rate is controlled by the Chinese government. It's not a free floating currency.

It's a shit currency controlled by a bunch of communists. There's no way it will ever become the global reserve currency.

[igorr]

Check chart USD/Chinese Yuan for last 10 year.

The Yuan exchange rate is controlled by the Chinese government. It's not a free floating currency.

It's a shit currency controlled by a bunch of communists. There's no way it will ever become the global reserve currency.

But major currency sure.

[Bit_Happy]

igorr, are you certain BTC is "on the verge of collapse", when there is tons of good news and a huge upswing in prices?
Maybe, now have you changed your mind? 

[RobFordWotWot]

I'm with igorr, I'm out completely.

I'd rather have my six dollars and fifty two cents than be stuck in a worthless digital currency.