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Author Topic: More Debt, Buy Bitcoin  (Read 327 times)
henmark
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November 06, 2019, 04:52:12 AM
 #41

The US government either can print more money to pay off their debt or default which in either case produce more problems in the long run. I agree that with cryptocurrency, most citizens would be able to avoid poverty. But I think what people really need is a stable coin for those who doesn't want to invest in a high volatility coin like Bitcoin. Like for example, euro, yen, or even gold.
Do you know that the United states does not even know how to play their game very well because if I was in the position of government, in other to pay my debt easily, I would just act the way whales do operate, what I would do is to buy bitcoin when it was cheap, imagine that they had bought bitcoin when it was $4000, and then buy the worth of 1 billion dollars first, then they create a new that would make bitcoin go round the word and push the price of bitcoin to $20k.

That would be a profit of like x5 already which means that their investment would have turned to $5 billion dollars, so they have extra 4 billion dollars to pay part of the debt, while they keep repeating the same action until they are able to fully pay their debt to zero.
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November 06, 2019, 05:47:27 AM
 #42

The US government either can print more money to pay off their debt or default which in either case produce more problems in the long run. I agree that with cryptocurrency, most citizens would be able to avoid poverty. But I think what people really need is a stable coin for those who doesn't want to invest in a high volatility coin like Bitcoin. Like for example, euro, yen, or even gold.

This will not be possible considering the fact that printing more money will cause a drastic effect to the economy of the country. What will happen in particular is there will be an inflation to the prices of goods and services that will be the main problem of the people. You can read here: https://www.economicshelp.org/blog/634/economics/the-problem-with-printing-money/

In terms of having Debt, bitcoin might be the possible solution but there is a 50/50 chance that it can solve the problem. The volatility of the market will not guarantee the profit if we were about to engage in trading activities.

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November 06, 2019, 09:47:17 AM
 #43

Concerning your idea, earlier I strove to prove that the nominal value of the US national debt is an important for estimating but not crucial. At least, last 10-15 years an army of riotous analysts predicted the crash of dollar and the US financial system but nothing wrong happened. Moreover S&P500 and DJA have been going up since 2008 achieving the new historical highs. It is an unbelievable strong uptrend which has not been disrupted on all crucial levels.
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November 06, 2019, 10:12:40 AM
 #44

Concerning your idea, earlier I strove to prove that the nominal value of the US national debt is an important for estimating but not crucial. At least, last 10-15 years an army of riotous analysts predicted the crash of dollar and the US financial system but nothing wrong happened. Moreover S&P500 and DJA have been going up since 2008 achieving the new historical highs. It is an unbelievable strong uptrend which has not been disrupted on all crucial levels.


This is because almost all the countries with their central banks (and whole banking system) print out the money out of thin air and roll their debt in the same way US does. This is like a poker game, when everyone is too afraid to say "check", as it would turn out everyone is a literal bankrupt.

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November 06, 2019, 10:51:19 AM
 #45

I think this is very scary if more and more people are doing debt in bitcoin with a very large amount it will make the debt offenders will find it difficult to pay off their debts because the higher the price of bitcoin will increase due to the influence of demand so it will burden them if they want to pay the debt.
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November 06, 2019, 11:23:13 AM
 #46

A good webpage that paints the picture:


https://www.usdebtclock.org/


This is only the recorded debt. Noone gives an actual fuck if this is real or not. I've read reports that the actual US debt might be around 100trillion.
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November 06, 2019, 11:27:59 AM
 #47



The whole world is saddled with gargantuan debt. Countries right now are using debt facility to cover up their inefficiencies and inability to meet their financial needs due to rising number of programs yet decreasing stream of revenues. Aside from the printing of money, borrowing money from anywhere has become the accepted norm. The more money they can hoard from many sources inside and outside their country, the better they feel secured and safe.

But is debt a very secured thing to enter into? Debt can be a big trap and many countries are now starting to feel the heat...soon this on and off heat can be transforming into a fire and an explosion that can engulf not their own country's economy but also can be spreading to neighboring countries as well, just like what we witnessed in the 2008-2009 USA recession.

In the USA alone, national debt is now over $23 trillion, according to website U.S Debt Clock. The milestone has been pointed out on Nov. 1 by Bitcoin advocate Twitter personality Rhythm, who also said that every dollar of U.S. national debt is, in fact, a reason to buy Bitcoin (BTC). Another user presented another interesting take adding: “That’s more than $1,000,000 debt per 1 Bitcoin.”

Indeed, we will soon witness this whole thing explodes right before our eyes. And with this as the backdrop, we should be looking at cryptocurrency seriously as one of the many possible ways we can be protected.
America is a strange country. Their president Donald Trump has stated that he does not like bitcoin and other cryptocurrencies. But what happens is they owe to buy bitcoin. Isn't that a hypocrisy?
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November 06, 2019, 12:31:12 PM
 #48

I believe that it is important to buy cryptocurrency (especially Bitcoin) now and store it for the future. Because I can't see a way out for countries getting into an economic crisis situation in the future.

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November 06, 2019, 05:51:29 PM
 #49

The US government either can print more money to pay off their debt or default which in either case produce more problems in the long run. I agree that with cryptocurrency, most citizens would be able to avoid poverty. But I think what people really need is a stable coin for those who doesn't want to invest in a high volatility coin like Bitcoin. Like for example, euro, yen, or even gold.
Yes, print more money to pay off debt will be an option, but in the end it will fail. when you own the printing press and largest military in the world you can always print more money. They'll print them-trillions of dollars and will repay the debt in full. Problem is the resulting inflation will kill the US and EU economy, and China,Russia and Japan will switch to bitcoin as reserve currency to save their economies. And that's exactly why you should be saving your wealth in bitcoin, not FIAT in the long-term. Even stocks can not save you. it might rise a bit initially, but once inflation hits high enough people won't be able to afford to consume anymore. Wages never rise as fast as the price of goods. you get lowering production and hence slashing profits. Bitcoin will be the only safe haven if we hit significant inflation.
They don't print money to pay debts, they print money for inflation to devalue their money making their debts lower in value as well. That's how government manipulates the the prices and the economy. This could be healthy if they balance the goods and importation of products in the country but if they over supply the paper money, the value will be lesser resulting for gas prices to spikes.  If governments sees BTC as reserves, this could be resolve.
Yes, indeed, they are supposed to do that, but they refused too, they preferred making decisions at their own interest only, for their business and not to really help poor people, so people who are poor remains poor or becoming poorer while rich person are becoming richer. So, cryptocurrency is here to balance everything, but it is not that too easy to make it as the global currency as it is controlled by those powerful people.
Many people are now seeing bitcoin as a way of out of the debt. But that is not entirely true because sometimes the bitcoin price falls down so instead of making enough money from bitcoin investment to pay off the debt, they'll end up losing money in bitcoin. At the country level that doesn't make sense at all. My advice here, always invest what you can afford to lose.
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November 07, 2019, 12:45:08 AM
 #50

The US government either can print more money to pay off their debt or default which in either case produce more problems in the long run.
Every country can print money like its a school project but every country is prohibited by doing it. The huge problem right away after the printing of money will come and will affect the country's economics in the long run. Printing money not equal to the amount of gold you have in a bank will result in inflation which will not be good for your home country currency.
You just can't go and start printing money. Well, you can, but you don't. You see, there will be an adverse affect if the government starts to print money randomly to pay off debt. The reason why it will affect the economy is not because it has anything to do with the "amount of gold you have in bank" like you mentioned, but the amount of circulation of paper notes and money inside the country. As the amount of money increases inside the country, the value of the currency starts to fall thus causing the prices of goods to increase aka inflation takes place. Look at countries like Zimbabwe and Venezuela.

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November 07, 2019, 04:41:23 AM
 #51

The US government either can print more money to pay off their debt or default which in either case produce more problems in the long run.
Every country can print money like its a school project but every country is prohibited by doing it. The huge problem right away after the printing of money will come and will affect the country's economics in the long run. Printing money not equal to the amount of gold you have in a bank will result in inflation which will not be good for your home country currency.

yes I agree with you printing more money is not a good solution to overcome the problem of state debt. instead it will add to the problem. because when the state prints too much money, the money circulating in the community will be a lot and make them consumptive and eventually make most of the prices go up and there will be hyperinflation. hyperinflation will make the currency fall and not worth. and for this debt problem, the government should have policies that can help pay off debt. and I'm also not sure bitcoin can be used as a solution to pay off debt because its value is very volatile. maybe an effective way to reduce the country's debt is to reduce imports and increase exports.

 
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November 07, 2019, 05:28:44 AM
 #52

The US government either can print more money to pay off their debt or default which in either case produce more problems in the long run.
Every country can print money like its a school project but every country is prohibited by doing it. The huge problem right away after the printing of money will come and will affect the country's economics in the long run. Printing money not equal to the amount of gold you have in a bank will result in inflation which will not be good for your home country currency.
right. printing money mean new debt.
this thing use long ago, when country want to upgrade their part, when they no have money, they ask to other country to solve the problem (there are many way, but when they corner by some reason like their economy really bad, the path they take is ask to other).
never make debt when you want to buy something, do if you have money, and hardwork if you dont
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November 07, 2019, 11:01:06 AM
 #53

The US government either can print more money to pay off their debt or default which in either case produce more problems in the long run.
Every country can print money like its a school project but every country is prohibited by doing it. The huge problem right away after the printing of money will come and will affect the country's economics in the long run. Printing money not equal to the amount of gold you have in a bank will result in inflation which will not be good for your home country currency.
right. printing money mean new debt.
this thing use long ago, when country want to upgrade their part, when they no have money, they ask to other country to solve the problem (there are many way, but when they corner by some reason like their economy really bad, the path they take is ask to other).
never make debt when you want to buy something, do if you have money, and hardwork if you dont

Talking about the economy is really interesting to discuss with, yes, more debt will come when we wanted to print more money, this cannot really happen although on our part as a human, we are questioning our government, why not just printing more money and give those money to the poor people right, but, that is not possible, as the government are also abiding laws, they can't do whatever we think they should do.

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November 07, 2019, 03:13:18 PM
 #54

Before taking any opportunity from this cryptocurrency platform we need to improve this platform with various type of regulation for maintaining the stability of the price, the cryptocurrency platform does not only depend on the price but also the credibility, so removing debts, cryptocurrency is not a good solution, also you can't print money for this purpose, the credibility is the main reason. so the generating value of the currency is the only way to make solving this problem for me, but cryptocurrency is not a good solution for me this purpose because it's still struggling for itself.

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JC btc
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November 07, 2019, 04:03:49 PM
 #55

Before taking any opportunity from this cryptocurrency platform we need to improve this platform with various type of regulation for maintaining the stability of the price, the cryptocurrency platform does not only depend on the price but also the credibility, so removing debts, cryptocurrency is not a good solution, also you can't print money for this purpose, the credibility is the main reason. so the generating value of the currency is the only way to make solving this problem for me, but cryptocurrency is not a good solution for me this purpose because it's still struggling for itself.

Cryptocurrency as of the moment cannot pay the debt of each country, up to date, it will be just a good way to make it as a good source of income such as gold that you can do for buying and selling, or holding for a long term, but for the crypto to use to pay debt, it won't help for now. Printing of money is not the solution too, as each country has regulations and restriction before they make and print money.
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November 07, 2019, 04:13:18 PM
 #56

The US government either can print more money to pay off their debt or default which in either case produce more problems in the long run.
Every country can print money like its a school project but every country is prohibited by doing it. The huge problem right away after the printing of money will come and will affect the country's economics in the long run. Printing money not equal to the amount of gold you have in a bank will result in inflation which will not be good for your home country currency.

The US is printing dollars all the time, and gold collateral for a long is not covering the money that is traded around the world. They have the strongest army in the world and can do what they want with money and nobody will do anything with that. Gold for a long is not a collateral for the dollar, now the security for (printing) dollar is the army.

The conclusion is simple - the bubble will burst one day so it's best to buy Bitcoin (and gold).

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November 07, 2019, 04:13:41 PM
 #57

Before taking any opportunity from this cryptocurrency platform we need to improve this platform with various type of regulation for maintaining the stability of the price, the cryptocurrency platform does not only depend on the price but also the credibility, so removing debts, cryptocurrency is not a good solution, also you can't print money for this purpose, the credibility is the main reason. so the generating value of the currency is the only way to make solving this problem for me, but cryptocurrency is not a good solution for me this purpose because it's still struggling for itself.

Cryptocurrency as of the moment cannot pay the debt of each country, up to date, it will be just a good way to make it as a good source of income such as gold that you can do for buying and selling, or holding for a long term, but for the crypto to use to pay debt, it won't help for now. Printing of money is not the solution too, as each country has regulations and restriction before they make and print money.
Cryptocurrency nowadays is a type of investment and the day that it was being used for several transactions of any kind of services has been slowly perished. Don't think that Bitcoin would help to pay the country's debt everything will start to become a different story the government starts buying Bitcoin. But for some other country they already done this because of the unhealthy economy they were in.

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