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Author Topic: BITCOIN GLORIOUS DAYS MIGHT JUST BE HERE  (Read 662 times)
plvbob0070
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February 15, 2019, 09:31:52 AM
 #41

I have watch analysis on YouTube by different economy think tank how the US dollars is getting weak by the day because of the ever rising USA national debt profile, they huge own the Chinese government trillions of dollars, the government of China has been asking USA government to pay them their debt, but they are not willing to pay. An analyst predicted that the US government is not going to pay China the debt, saying "should the US government offer to pay the trillions of dollars debt, it will spell doom to the US economy and further weaken the dollar or even bring it to its kneel". Because of the aforementioned economic saga, the Chinese government together with some other power blocks are willing to bye pass the US dollars during trade by dealing directly with their local currencies rather than the US dollars. In the recent times, the President of Russia has expressed the willingness to ditch the US dollars.

Should the US dollars greatly loss value and become less use by world economic powers, something else has to move in to replace the green paper(US dollars). Of course, the United States won't like to loss to any country, am thinking maybe the world could just adopt the bitcoin as the world reserve currency, since it's owned by no one and controlled by none.

Guys, what do you think, will the world likely be willing to adopt the bitcoin as the world currency in the event of the US dollars collapse?


Well of course US, won't let that happen. (USD to fall) but if that actually happens in the future, I don't think the one who'll replace it will let bitcoin be the currency. Why? Because it's decentralized. The government probably won't accept it since they will have no authority. Addition to that, it'll be hard because of its volatility.
About your analysis, it could be possible maybe through time? And when the society already accepted bitcoin worldwide.
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February 15, 2019, 11:08:50 AM
 #42

Indeed we are compared to the start of bitcoin when only the enthusiast appreciate bitcoin and the blockchain when the day when it was launched. We have the opportunity now to see the adaption of bitcoin all over the world that makes us the few that knows might happen in the futures cryptocurrency transactions in all the industries around the world.
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February 15, 2019, 05:53:54 PM
 #43

I have watch analysis on YouTube by different economy think tank how the US dollars is getting weak by the day because of the ever rising USA national debt profile, they huge own the Chinese government trillions of dollars, the government of China has been asking USA government to pay them their debt, but they are not willing to pay. An analyst predicted that the US government is not going to pay China the debt, saying "should the US government offer to pay the trillions of dollars debt, it will spell doom to the US economy and further weaken the dollar or even bring it to its kneel". Because of the aforementioned economic saga, the Chinese government together with some other power blocks are willing to bye pass the US dollars during trade by dealing directly with their local currencies rather than the US dollars. In the recent times, the President of Russia has expressed the willingness to ditch the US dollars.

Should the US dollars greatly loss value and become less use by world economic powers, something else has to move in to replace the green paper(US dollars). Of course, the United States won't like to loss to any country, am thinking maybe the world could just adopt the bitcoin as the world reserve currency, since it's owned by no one and controlled by none.

Guys, what do you think, will the world likely be willing to adopt the bitcoin as the world currency in the event of the US dollars collapse?

If the bitcoin was adopted as the world reserve currency, that would probably only happen in 10 years, so bitcoin has to prove that it can survive 10 years from now. Governments do not yet have laws on bitcoin and there is still no mass adoption. First we need clear regulations on bitcoin, then we will see the mass adoption and then maybe we will see bitcoin as the world reserve currency


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February 15, 2019, 06:24:20 PM
 #44

There is much speculation as to where that price will go; most think it can only go up due to more interest--demand in this instance. An I completely support that.
Looking back into bitcoin cycles, it always shows fluctuations after a certain period of time and then comes back with a surprise.
It might not reach the moon in 2019 but the prices are definitely going to rise in 2019. Bitcoin might go on the top in 2020. It's going to take some time.
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February 15, 2019, 06:59:53 PM
 #45

There are big possibilities that bitcoin will climb up again and retain its status before as there are so many great news in the community in different part of the world.
But we should wait more and lets see what will SEC do on the ETF. remember more demand and hold will get us quicker to what we are wishing for.

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February 16, 2019, 03:52:32 AM
 #46

Well as a bitcoin enthusiastic, I support if the world want to make bitcoin into a reserve currency, but because its not own by anyone I afraid there will be a lot of manipulation in the price, which I think could be bad, but in other hands putting bitcoin as reserve currency could make the grow become significant and give easiness for everyone to use, I think there are more positive advantages if bitcoin is used as a reserve currency
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February 16, 2019, 04:09:08 AM
 #47

If US think of this today then maybe they would realize that going to cryptocurrency would be the next best move for their dollars future before its too late.

Who knows what will happen next but it's obvious that digitalization is the big thing as of now.
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February 16, 2019, 04:27:05 AM
 #48

Whenever there is a financial crisis, I think bitcoin's price will hit the top since people would rather invest in a developing currency rather than a weak currency.
If the content in the OP is true then there are very good chances that people will adopt the Bitcoin technology and will buy bitcoins when US dollar falls in price.
There are good chances for bitcoin to go to the top in future since financial crisis keeps happening from time to time.

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February 16, 2019, 05:41:13 PM
 #49

If US think of this today then maybe they would realize that going to cryptocurrency would be the next best move for their dollars future before its too late.

Who knows what will happen next but it's obvious that digitalization is the big thing as of now.

Even fiat is being digitalized and yeah it seems that the future is primed for a digital revolution. But that'll take a longer time for me. The current system is where majority of our transactions are rooted. And a transition may take probably several years.

 
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February 16, 2019, 09:13:14 PM
 #50

Whenever there is a financial crisis, I think bitcoin's price will hit the top since people would rather invest in a developing currency rather than a weak currency.
If the content in the OP is true then there are very good chances that people will adopt the Bitcoin technology and will buy bitcoins when US dollar falls in price.
There are good chances for bitcoin to go to the top in future since financial crisis keeps happening from time to time.

People would rather buy a developing currency you got that right but they would also buy a commodity like gold over this developing currency. In a big monetary crash people will dump fiat currencies and buy physical goods like gold and silver coins, bars, even cars because you can move them around and they retain value better than fiat.
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February 16, 2019, 11:08:32 PM
 #51

I still think that people's view of the dollar and bitcoin is still different, especially for people who lack knowledge of technology, if the price of the dollar really collapses, I believe that people will replace it with fiat money in other countries, maybe yuan or euro. bitcoin is still considered a high-risk coin, and there are still many of them who consider bitcoin only a coin of investment assets not currency, so the conclusion of the collapse of the dollar does not guarantee that people switch completely to bitcoin because cryptos and fiat currencies can only be used side by side instead to replace each other.
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February 17, 2019, 12:33:18 AM
 #52

It's possible n fact some US states have already passed a bill legalizing and treating cryptocurrency as money, I think 2 to 4 states have already done so and many more coming but it will still take some time before that happens and not at this market condition.

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February 17, 2019, 04:13:53 AM
 #53

The collapse of the USD doesn't automatically mean that the majority of people are going to move to bitcoin. While yes, some may do, but majority(especially the non tech-savvy people)? Probably not; though I definitely hope they give bitcoin a shot. My number one issue with this is bitcoin being stolen from the non tech-savvy simply because of the lack of knowledge in how to protect their funds.

If US Dollar lossing the power, people will thinking about alternative currency and bitcoin can be that alternative. Current news, bitcoin can use for transaction without internet and i think it just waiting government regulation. If government regulate bitcoin, perhaps people who use bitcoin for transaction in merchant will rising
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February 17, 2019, 04:44:45 AM
 #54

The collapse of the USD doesn't automatically mean that the majority of people are going to move to bitcoin. While yes, some may do, but majority(especially the non tech-savvy people)? Probably not; though I definitely hope they give bitcoin a shot. My number one issue with this is bitcoin being stolen from the non tech-savvy simply because of the lack of knowledge in how to protect their funds.

If US Dollar lossing the power, people will thinking about alternative currency and bitcoin can be that alternative. Current news, bitcoin can use for transaction without internet and i think it just waiting government regulation. If government regulate bitcoin, perhaps people who use bitcoin for transaction in merchant will rising

Yes, maybe they will use something similar to Ripple backed with something. But can take time to adopt some people arent that tech-savvy.
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February 17, 2019, 05:07:57 AM
 #55

Bitocins glorious days might just not be close it will take more time than we think, bitcoin's glorious day was when it peaked to 20,000$ and I don't see that happening soon. Market isn't going very smooth I guess. So we might just have to wait for some time to see bitcoin coming back to its old days.
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February 17, 2019, 05:49:13 AM
 #56

if other countries would bypass the usage of u.s dollar and instead use the bitcoin or other crypto currency as medium of payment this would generate huge price surge of crypto prices and i think this would much better than  using a u.s. dollar which run by only one government. bitcoin is decentralized and it is not controlled by any one unless  if you have plenty of it which i think china are also accumulating this coin and will pump anytime soon in the right time
BLAST2MARS
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February 17, 2019, 06:07:12 AM
 #57

Bitcoin total dollar equivalent is currently about $60 billion, although it has reached an all time high of over $200 billion. This is not sufficient to cater for reserves of nations of adopted.
There is the issue of scalability as well. Bitcoin is not yet matured as a currency to support the global financial system, and it doesn't need the dollar to collapse in order to get recognition.

It's true. Bitcoin is not here just waiting for an economy to collapse so it can be used. The goal of bitcoin is for the trustless transactions and convenience for the users. OP is downgrading the bitcoin with the scenario when it's supposed to be invented to be more than that.
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February 17, 2019, 06:23:01 AM
 #58

LOL yet another ignorant dimwit with absolute zero understanding of real world economics, lost in his fantasy la la world here  Grin  Grin
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February 17, 2019, 06:55:19 AM
 #59

While you are waiting for impossibility .my answer for the question is the world will accept bitcoin as worldwide currency without dollar being bypassed.

Long before cryptocurrency was born,USD is already here and even after crypto gone(though impossible also to haplen)this fiat woll still remain.so theres nothing to expect but the adoption of bitcoin will happen in iur generations
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February 18, 2019, 08:27:43 PM
 #60

It looks like crypto is about to be an excuse to start political conflict. It's understandable USA likes to hold control of the situation but so the other parties. And perhaps soon currency issue might serve as another way of sanctioning each other.

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