Can Bitcoin save U.S. from its rising national debt?

[2double0]

Bitcoin is totally different and it never going to solution for us us debt raising maybe the US people can use bitcoin and invest their in bitcoins.
The US national debt for the first time passed $22 trillion a big scary number but still under control.

So what do you expect in numbers for US national debt to look out of control? The situation demands action here and crypto can only help if they want to dump their fiat under the grave of their exhausted economy and take a leap from their traditional systems which have ruined everything. Stop taking loans to eat out, throw parties to your friends, gfs or whatever the heck and start repaying them. If the quota that is living on debts completely, starts repaying at least 10% of their debts each year, I see US getting back on tracks again in just 2 decades. Why buy when you can't repay? This should be asked to the people who take loans but don't have the power to repay. Similarly, I have seen more unsecured loans than secured loans, with minimal docs. These loans, when defaulted, are shown as bankruptcy to keep themselves safe.

[1Referee]

The US national debt for the first time passed $22 trillion a big scary number but still under control.

It's not under control, lol. It's not even possible to slow down the debt ticker any time soon. The very fact that people have somewhat accepted that the US debt keeps growing is quite concerning, mainly so with how little they do to hedge the negative consequences as result of that. This irresponsible behavior is why the so called poor stay poor and the rich get richer.

I have last year seen an interview with an economist saying that as long as the US prints money there is nothing to worry about, which is retarded. The more money is being printed the bigger the impact of an implosion will be. It's only a matter of time before that happens. Yes, that implosion could be 5-10 years away, but that doesn't change the outcome. It will drag down the entire world economy.  

[carlzec]

Will the US Federal Reserve keep printing dollars? It is not the right policy to constantly print dollars. They will not continue this open policy anyway. Strict monetary policy will try to improve the economy. Bitcoin is not a salvation. Bitcoin can offer a new economic model. It may not solve the debt burden of the old system.

[Hippocrypto]

Bitcoin is totally different and it never going to solution for us us debt raising maybe the US people can use bitcoin and invest their in bitcoins.
The US national debt for the first time passed $22 trillion a big scary number but still under control.

Based on my experience, I was saved by bitcoin to pay for the debts I had last 2018. The investments for bitcoin is our potential profit, and it's benefit will be an awesome thing to make it as a source of income. If you're working for so long and you still got the low paying job I don't think it will solve our debts quicker, because it may take long years to fully paid.

[kotik085]

Why Bitcoin should correct US errors, of course not, Bitcoin will not be able to slow down the bomb of the growing debt to the United States. Maybe if Bitcoin stands on a par with fiat, then it will play a role.

[cryp24x]

Everything is possible in Bitcoin. But using the word "Only" is quite not appropriate for solving problems. There are lots of factors about US debts and we have to consider these things to be able to solve it. One possible solution is Bitcoin and Blockchain Technology. The real solution I think is change of lifestyle. They really need discipline regarding financial aspect.

[Artemis3]

The U.S. economy grew by 2.1 percent in the Q3 2019 as compared to an expected rate of 1.9 percent. But, behind the growth is a problem that no one is talking about: rising national debt. Could Bitcoin pose as a solution?

As cryptocurrency researcher The Moon (@themooncarl) revealed on Twitter, the American economy might look strong, but its debts have continued to rise. Data from the U.S. National Debt Clock shows that the national debt currently stands at a staggering $23.116 trillion. The Trump administration was overly fixated on growing the American economy and claiming bragging rights. They obviously had no qualms driving the country into more debt to achieve that goal.

A ticking time bomb? Sounds to me that I can agree with that statement!

Of course, US president Donald Trump is rejoicing that the stocks is at its all-time high. But he forgot one thing.

Their national debt continues to rise, and I highly no doubt that it gets even worse in the next few years or so.

Now I have a question to all of you here. Do you honestly think that only Bitcoin can fix this “ticking time bomb” in the United States?

I would like to hear out your reactions or opinion about this one guys. Happy Sunday everyone!

The solution is Austrian economics. Bitcoin just happens to be a coin that doesn't lose value overtime, exactly what the Austrians wanted. Until then, America (or any other country) cannot escape from the inevitable cycles of bubbles and crashes, these are produced by the current dominant mentality, that promotes getting in debt as a means to "fast grow" the economy, but this "fast" inevitable brings its price...

Did you know the Austrians warned Americans during the roaring 20ies, before the infamous crash of 29? But they didn't listen. And they STILL don't listen, thus they will just repeat the housing crisis with perhaps some different subject "whatever crisis" again, and the world will also get repercussions for following them like lemmings.

If you did things the Austrian way, you wouldn't get in debt to grow the economy. You would potentially save, and only invest once the money has accumulated. Ah but the other countries would run circles in front of them, sure, but they would also crash.

The turtle and the hare race, might be a suitable analogy, of Austrian vs Chicago school of economy.

But no one listens. So start learning Chinese...

[jameshugo17]

No state can repay its debt by selling its bitcoin assets. That sounds funny to me. Bitcoin is already a danger to the states. In addition, if a state has too many bitcoins, the value of the bitcoin is likely to fall.

[Leonardo7]

The big question is why does the US government keep borrowing money and never stop. I believe the owners of reserved bank delights in seeing the US go more into debt. The US government borrows money to do a lot of things they shouldn't be doing. Maybe some policy change could help the States, even bitcoin may not be able to help the government but the people just like gold.

[TastyChillySauce00]

Let's be honest here, bitcoin can't even lift the economy of third world countries with debts that amounts only a dime compared to what the US has simply because using bitcoin is just like using any currency out there, I can't see how it could save a country from its national debt and considering that US is kinda "against" crypto most of the time, it's just a wishful thinking.

[oktana]

Let's be honest here, bitcoin can't even lift the economy of third world countries with debts that amounts only a dime compared to what the US has simply because using bitcoin is just like using any currency out there, I can't see how it could save a country from its national debt and considering that US is kinda "against" crypto most of the time, it's just a wishful thinking.

if indeed bitcoin is used as a solution, the implementation step also cannot be carried out in a hurry.

The US has issued too many controversial policies, using bitcoin will only create more uncontrolled speculation. National debt mechanisms also move procedurally, changing them suddenly only creates new problems that can have a global impact.

[buyinbtc]

Let's be honest here, bitcoin can't even lift the economy of third world countries with debts that amounts only a dime compared to what the US has simply because using bitcoin is just like using any currency out there, I can't see how it could save a country from its national debt and considering that US is kinda "against" crypto most of the time, it's just a wishful thinking.

Well that is the truth, the debt will still remain the debt, if the debt in dollars will be deleted then it will be replaced by the debt in bitcoin. The only way for the us and all other countries to get out of this terrible place in the world is for their financial systems to be destroyed completely and remade from scratch. That's why bitcoin is beautiful, it enables this possibility.

[eaLiTy]

Of course, US president Donald Trump is rejoicing that the stocks is at its all-time high. But he forgot one thing.
Their national debt continues to rise, and I highly no doubt that it gets even worse in the next few years or so.

Did you notice these two sentence have in common, the stock market price is at an all time high valuation not only in the US but around the globe and what does that mean when the national debt keeps on increasing with every country, the same bubble these financial institutions and some sloppy stock analyst are accusing BTCitcoin for a very long time, yes there is a huge bubble in the stock market for the past three years globally while the economy is struggling and it is nothing but a bubble.

Now I have a question to all of you here. Do you honestly think that only Bitcoin can fix this “ticking time bomb” in the United States?

Nothing can save the economy if the bubble breaks, all they can do is to rebuild everything, change the model and have some transparency with the help of blockchain and then they can include BTCitcoin as a hedge for government bonds and so on, this is my dream but the governments always like to learn the hard way.

[HarmonyA]

The U.S. economy grew by 2.1 percent in the Q3 2019 as compared to an expected rate of 1.9 percent. But, behind the growth is a problem that no one is talking about: rising national debt. Could Bitcoin pose as a solution?

As cryptocurrency researcher The Moon (@themooncarl) revealed on Twitter, the American economy might look strong, but its debts have continued to rise. Data from the U.S. National Debt Clock shows that the national debt currently stands at a staggering $23.116 trillion. The Trump administration was overly fixated on growing the American economy and claiming bragging rights. They obviously had no qualms driving the country into more debt to achieve that goal.

Read the full news here

A ticking time bomb? Sounds to me that I can agree with that statement!

Of course, US president Donald Trump is rejoicing that the stocks is at its all-time high. But he forgot one thing.

Their national debt continues to rise, and I highly no doubt that it gets even worse in the next few years or so.

Now I have a question to all of you here. Do you honestly think that only Bitcoin can fix this “ticking time bomb” in the United States?

I would like to hear out your reactions or opinion about this one guys. Happy Sunday everyone!

The Fed believes continuing to print money is the solution.
Merely implementing Bitcoin as a replacement for the Fed wouldn’t be enough to dig the US out of the massive hole into which it has fallen.
   

[1Referee]

In addition, if a state has too many bitcoins, the value of the bitcoin is likely to fall.

How so? By owning 'too many' of something that already is super scarce, especially when it comes to the circulating supply within the speculative market, they would make every Bitcoin super duper happy with the increase in price. States are mainly hoarders of assets, and when they hodl their Bitcoins, it can only propel the price to much higher levels, especially after the halving reducing the rate of inflation.

I however do not like the idea of states owning Bitcoin, because it gives them the incentive to actually attack the network in case they want a transaction of a rival state reversed, or for whatever other reason. Let them stick to Gold hoarding and people do Bitcoin hoarding. Much better basis to build on. States can't be trusted and they don't like freedom, more reason to steer clear of them.

[Youghoor]

Is it that people do not understand what Bitcoin is or they don't have adequate knowledge of the use and purpose of Bitcoin?  First and foremost, I'm very surprise to see this post asking whether Bitcoin can save the rising national debt of U.S. Bitcoin is just a digital currency. People should stop making this assumptions that Bitcoin is some kinda financial commodity that solves all financial problems and crisis. Bitcoin is just digital money.

[blckhawk]

US is quite known for such stunt. Bragging rights while having a hefty debt and it looks like they have no plans whatsoever in addressing this problem. Bitcoin could also not miraculously fix the debt. Sure, it could have make faster macrotransactions that 'might' boost the economy, but it's not guaranteed, and may not be enough in reducing the debt.

[k@suy]

Why Bitcoin should correct US errors, of course not, Bitcoin will not be able to slow down the bomb of the growing debt to the United States. Maybe if Bitcoin stands on a par with fiat, then it will play a role.

Honestly, I don't think that the US will be needing the bitcoin as an additional help for saving their country for their almost 22$ trillion debts because US is the most independet country and the US government can stand alone without calling for the help of other countries or even the crypto world. They have a lot of citizens who can contribute in paying their debts by collecting each and everyone's any kind of taxes.

[Polar91]

Why Bitcoin should correct US errors, of course not, Bitcoin will not be able to slow down the bomb of the growing debt to the United States. Maybe if Bitcoin stands on a par with fiat, then it will play a role.

Honestly, I don't think that the US will be needing the bitcoin as an additional help for saving their country for their almost 22$ trillion debts because US is the most independet country and the US government can stand alone without calling for the help of other countries or even the crypto world. They have a lot of citizens who can contribute in paying their debts by collecting each and everyone's any kind of taxes.

And in addition it could be possibly be suited not in US but to countries that are having a financial and economic crisis such as Venezuela and Zimbabwe. Especially if they are experiencing a huge inflation rate for some reason that their government and national bank decided to produce more money. In my opinion if bitcoin would be the most widely accepted crypto in instant, it could possibly make their economy and their financial sectors confused on how they could run things out. They surely need adjustment for this.

[shark1006]

It seems to me that the money printer will play a bad trick with the US. This is an incredible public debt and I am scared to think what consequences it may have. And I'm not sure that in this situation, Bitcoin is the way out. Unless as a way to preserve value for people during a possible crisis