Coming Changes Bitcoin will be backing USA dollars

[royalfestus]

I think the first Idea is to increase the marketcap of bitcoin close to trillion of dollars, a market size that can dictate a good part of the world economy. They need more than the oil in the world to move the world economy and want it to be in the hand of the top countries alone. Silently some companies in USA are also investing into Bitcoin mining with the aim to HODL for longer time. Backing bitcoin is good proposal but the asset value will still be a great feature sometimes in the future before the USA dollar backing is thoroughly effected.

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[samuraijin]

because I am still thinking about the costs of bitcoin transactions and it seems rather difficult to make bitcoin as a digital currency especially as a micro payment tool, it is more worthy of becoming digital gold so that each transaction is really calculated by everyone before making a transaction, I am more supportive of concepts such as this

[xen1oph]

The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.

The Bitcoin was made to be new age gold so Bitcoin never meant to be money!


Its Coming 2020 and yes that will be happening

I’m not sure that this will happen in 2020. Because no one has learned to predict yet. But, I think that the likelihood that this will happen sometime in the future is much higher than the likelihood that this will not happen.

[1Referee]

because I am still thinking about the costs of bitcoin transactions and it seems rather difficult to make bitcoin as a digital currency especially as a micro payment tool, it is more worthy of becoming digital gold so that each transaction is really calculated by everyone before making a transaction, I am more supportive of concepts such as this

The cost of transactions isn't that high at all. I haven't paid more than $0.10 in fees in the last couple of months for a single output transaction. If you still think that's high, then there is Lightning that allows you to do micro transactions for fees like 1-2 satoshis. Instant settlement and with time huge adoption. What more can you wish for?  

Most of the people complaining about fees very likely use wallet clients still using the legacy address format. If you use a wallet client that supports bech32 Segwit, your transaction fees will significantly reduce compared to the fees you pay for legacy transactions. Electrum is my preferred SPV desktop and mobile wallet client. If I'm not mistaken, they were the first client to support native Segwit.

[OrangeII]

Gold will drop?
2020?

Hell no!!!
That is one hell of a wild imagination you have there.
Gold is still way up and it will still soar when the mining companies won't get anything anymore.
There will be a hoarding of gold or stores will close down to not sell it anymore because demand will come soaring. 

I believe that he is very optimistic about the development of bitcoin. the impossible is when bitcoin is backed up with dollars, and it thinks that way.
I honestly never thought that way, other than that one of the advantages of bitcoin is its unstable price, so people can take advantage of it. in fact, the good thing is that bitcoin is often associated with gold. I honestly think it's a different type of investment.

[darkangel11]

I love Bitcoin but it's not ready to become a transactional currency for the masses. I believe that we will first need to test it in a smaller economy than the US.
If it can function as a transactional currency in a smaller but technologically advanced area, like Hong Kong, South Korea, Japan, it will be a sign it's ready to expand.

[CodyAlfaridzi]

The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.

The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening

A part of me would like to see this happen as it will drive up Bitcoin price heavily. We're talking trillions USD market cap here lol. But another part of me think this is far too unrealistic and would require drastic change all over the world. I don't see why the U.S would go back to backed currency from fiat. I don't see any incentives for them, nor any country, to do this.

[Silberman]

The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.

The Bitcoin was made to be new age gold so Bitcoin never meant to be money!


Its Coming 2020 and yes that will be happening

At this point in time it is difficult for me to believe that any currency that is being created by a government is ever going to be backed by gold, in the case of an economic crisis that may seem like the perfect solution to momentarily solve the crisis but at that point people will understand that they cannot rely on their government to maintain a currency that is actually stable, so I really think that at that moment people will begin to use bitcoin and gold directly regardless of the promises of their governments.

[meto012]

The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.

The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening

A part of me would like to see this happen as it will drive up Bitcoin price heavily. We're talking trillions USD market cap here lol. But another part of me think this is far too unrealistic and would require drastic change all over the world. I don't see why the U.S would go back to backed currency from fiat. I don't see any incentives for them, nor any country, to do this.

I can't believe it will happen now - when btc is too unstable.
But there is a chance tha Bitcoin will settle down after last block is mined
And that would be great time for btc to back up usd instead of gold (which should fall all this time drastically while btc is mined)

[cryptoknightt]

gold will not fall even many people who say that gold has been one of the reliable investment tools for thousands of years, as you can say gold will fall, gold and other metals will continue to exist.
bitcoin may be in demand for years to come, but gold will continue to exist.
I'm more hesitant to fiat the currency that will fade over time.

[Febo]

The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.

The Bitcoin was made to be new age gold so Bitcoin never meant to be money!

What are you talking about?  Since when is USD backed by gold? And since when Bitcoin is not meant to be money. Yes it is not a perfect money since it is not fungible but still it is money.

[Dart18]

That is funny if you are joking around.
Gold will live for a long time in the financial industry of the world.

They made it so valuable because of the difficulty to acquire it and until now the mining areas are getting smaller.
Soon there will be no more gold to mine just like bitcoin but that doesn't mean its life will be sucked also in the market.
The circulation will continue and if some will keep it then the value could go higher.

[henrybek3]

Some of what you say about Bitcoin is true, but there are things I disagree with.
  USD can be used to support Bitcoin. But it is ridiculous to say that gold will collapse.
  The dollar is already backed by Gold. The best scenario for Bitcoin would be supporting Gold. But I think the goal of bitcoin is to replace gold!

[Argoo]

The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.

The Bitcoin was made to be new age gold so Bitcoin never meant to be money!


Its Coming 2020 and yes that will be happening

You misunderstand everything. Bitcoin was just created as money, as an alternative means of payment to existing means of payment. It makes no sense to support the dollar. These are completely independent payment systems. Gold and silver will not disappear. They will exist along with old and new means of payment, including along with cryptocurrency.

[beerlover]

If somehow (and I doubt this will happen) USA manages to make their own stablecoin, and that is a big IF at that, that would be super amazing and bitcoin would be pegged to it for sure. Even when a shady company with absolutely no guarantee created USDT everyone loved it and they used it like hell, there were billions of dollars worth of it in the market.

Now, think about how valuable that could be if people just used a stablecoin that was backed by USA government, that would be both beneficial to us and to USA as well. We would have a stablecoin that is backed by proper government that would actually pay us the fiat counterpart whenever we want to and USA would be able to raise billions of dollars from printing however much they want to print as long as it is backed.

[freedomgo]

What are you saying?

That's not gonna happen.. and bitcoin will never backed usd alone because it's not controlled by the government, its decentralized. \
and if ever it will be backed, it will not become as gold because bitcoin way more useful for our daily transactions than gold.

[Blitzboy]

Some of what you say about Bitcoin is true, but there are things I disagree with.
  USD can be used to support Bitcoin. But it is ridiculous to say that gold will collapse.
  The dollar is already backed by Gold. The best scenario for Bitcoin would be supporting Gold. But I think the goal of bitcoin is to replace gold!

I don't see any relationship between bitcoin and gold, why are people comparing them constantly? Gold has and will never be replaced by any cryptocurrency, gold has many practical applications and even for the current electronics industry, without any reason for it being replaced, bitcoin cannot do that

[ultrloa]

Some of what you say about Bitcoin is true, but there are things I disagree with.
  USD can be used to support Bitcoin. But it is ridiculous to say that gold will collapse.
  The dollar is already backed by Gold. The best scenario for Bitcoin would be supporting Gold. But I think the goal of bitcoin is to replace gold!

I don't see any relationship between bitcoin and gold, why are people comparing them constantly? Gold has and will never be replaced by any cryptocurrency, gold has many practical applications and even for the current electronics industry, without any reason for it being replaced, bitcoin cannot do that

The one I see before is they have the same price range before but I don't think Bitcoin is enough for now to be compared to bitcoins since if we compare the adoption and most accumulation Bitcoin is nothing with gold although the profitability is more higher with bitcoins but it doesn't guarantee that it can defame gold on where it stand right now.

[Blitzboy]

The one I see before is they have the same price range before but I don't think Bitcoin is enough for now to be compared to bitcoins since if we compare the adoption and most accumulation Bitcoin is nothing with gold although the profitability is more higher with bitcoins but it doesn't guarantee that it can defame gold on where it stand right now.

Exactly! If it were before, we have a absolutely basis for comparing bitcoin to gold, because it is too high value and is trusted by many people. But for now, bitcoin no longer has its place, nothing can guarantee it's value, on the contrary, gold is always a precious metal and it does not have any investment risk

[naikturun]

gold will not fall and I am very sure that even if bitcoin dominates the next few years, gold and some other metals will remain.
well see your statement that bitcoin will be backed up by USD stating that usd will be replaced? this is a bit interesting considering the country is a bit against it.