Alternatives Like BTC Becomes Necessary As World Debt Reaches $253 Trillion

[cheezcarls]

Our debt-ridden world economy continues to stack up more IOUs. According to recent estimates, the global debt is now around $253 trillion or 322% of GDP — a record high that Bitcoin is wagging its finger at.

According to a new report, the world economy is based on more debt than ever before — in fact, total world debt now comes out to over 3x global GDP.

To read the full article, check it right here

If you look at the numbers, it's already record-breaking for world debt.

As Bitcoin continues to be recognized and massively adopted worldwide, I just don't know if it's indeed a genuine alternative because of the record-breaking world debt of $253 trillion.

What would you think about this guys? Do you honestly think Bitcoin is gonna be the best alternative choice in this situation?

I would like to hear more about your reactions or opinion on this one. Cheers!

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[Velkro]

Alternatives Like BTC Becomes Necessary As World Debt Reaches $253 Trillion

BTC is helpful here, but same as all 'limited' resources like gold/silver etc.
BTC is best in "limited" manner because we know supply limit for 100%, yet new gold sources are discovered.
So economy had and have way to exit FIAT currencies.

[enhu]

BTC as alternative, of course. Its the only thing that's valuable that also fits for the technology we have today. We have phones and wireless networks that is perfect for digital currencies.  Governments can even take BTC as reserve if they can just accept the fact that it makes more sense to use it than gold.

[pakhitheboss]

The global debt will continue to rise no matter what measures are taken by the banks of the government. There is too much chaos in financial markets. Situations like these give rise to global recession.

This is why emerging economies are in the process of launching their own crypto coins to hide this problem. Most countries are already experiencing negative interest rate and high inflation.

It is the people who have to realise this danger and take a step forward in adopting Bitcoin.

[1Referee]

BTC is best in "limited" manner because we know supply limit for 100%, yet new gold sources are discovered.

Bitcoin is definitely more transparent in that regard. Gold however will be bought up regardless of how much of it is dug up, simply because central banks are champion in abusing the money printer. In the long run, it eats through the available supply and that will definitely reflect in the price, but that process could take decades. 

As much as I like Bitcoin, I don't see it being a solution to the problem OP is referring to. If you don't deal with the monetary policy markers, nothing will change, ever. It's the same group of like-minded elite that's in charge. Something has to change there on a fundmental level. I do not see that happen with how much empirical evidence we have today.

[dimastegar]

What would you think about this guys? Do you honestly think Bitcoin is gonna be the best alternative choice in this situation?

As we predicted, world debt will continue to swell. But I don't really understand the purpose of Bitcoin as an alternative when world debt swells. We know that the Bitcoin utility can be an alternative payment and can deposit a value. But I still haven't gotten points about how and why Bitcoin is needed when the world is in debt. Can anyone explain?

[Soots]

What would you think about this guys? Do you honestly think Bitcoin is gonna be the best alternative choice in this situation?

As we predicted, world debt will continue to swell. But I don't really understand the purpose of Bitcoin as an alternative when world debt swells. We know that the Bitcoin utility can be an alternative payment and can deposit a value. But I still haven't gotten points about how and why Bitcoin is needed when the world is in debt. Can anyone explain?

In my point of view about that, if people would divert their asset to the digital currency it became decentralized. Bank won't recognize it as your physical deposit, inflation rate will be lessened if fewer individuals will use fiat currency.
When government adopt on this strategy, and uses bitcoin as good alternative for storing value; holding it for years would be an assurance to solve our world debts once current value would earn higher returns.

[cr1776]

What would you think about this guys? Do you honestly think Bitcoin is gonna be the best alternative choice in this situation?

As we predicted, world debt will continue to swell. But I don't really understand the purpose of Bitcoin as an alternative when world debt swells. We know that the Bitcoin utility can be an alternative payment and can deposit a value. But I still haven't gotten points about how and why Bitcoin is needed when the world is in debt. Can anyone explain?

To protect the value of your wealth (like PMs for example) when either central banks and governments inflate the currency to make the debt more manageable or allow one to escape currency controls if a particular country does that.

Bitcoin is an asset that smart people can use to protect themselves from the power at all costs people who are charging up debt that will never be able to be repaid without a huge inflationary period. Or a debt jubilee.  Either of which will damage whomever does that.

[SummerBliss]

The problem with Bitcoin is that it's not really scalable because of the slow speed and increase in few when transactions increase. But yeah crypto can come handy and can solve many of the problem which presently exist in monetary landscape. Countries are struggling with hyperinflation and centralization of money. I think once people start understanding that a decentralized currency can be a revolution, the whole monetary landscape would change.

[sheenshane]

Bitcoin now is on mainstream and this is worldwide known as an alternative currency because of it's kind. Those who did not understand what is Bitcoin, they think that it is a fraud or the reason why people want an alternative currency is to participate in an evil act which is they want transaction anonymously. But the fact this has great help to the economy.

So, let's enumerate how it is helpful when cryptocurrency use as an alternative currency.
- unreversible --> once transaction confirmed it is irreversible, not like other payment processors have a chargeback(like paypal) its likely use of fraud activity.
- Lower fees and fast transactions--> Even you are sending worth of thousands or millions of dollars it is the same transaction fee, not just like fiat currency.
- Identify theft--> If you use your credit card or bank account it is automatically linked to your personal identities even small transactions you have transacted. Unlike crypto, it will remain anonymous.
- Decentralization --> Of course, bitcoin managed by its network and no one will control even central authority. It means operating a peer-to-peer basis.

No, doubt that bitcoin is a good use or necessary to become an alternate currency.

[leyton11]

In my opinion, bitcoin is definitely very important right now. While fiat money is heavily alarmed on upcoming inflation, bitcoin and gold are certainly an asset to store to avoid losing the value of fiat money. Although bitcoin has nothing to guarantee, the market is showing that the crowd always ensures that the inflation rate will be better. You can see that when the US and Iran declared war, the price of bitcoin suddenly increased sharply. and the volume of bitcoin in one day has increased by nearly 40% and that shows bitcoin is very potential. when this debt burst, bitcoin will certainly not be affected and it is the kind of asset we should keep.

[kro55]

No matter which financial model we use global debt will continue to exist even if we shift to bitcoins this global debt will be shifted to bitcoin also. IMHO bitcoin cant be used as alternative to fiat, as long as we have central government's.

[boris singer]

In my point of view about that, if people would divert their asset to the digital currency it became decentralized. Bank won't recognize it as your physical deposit, inflation rate will be lessened if fewer individuals will use fiat currency.
When government adopt on this strategy, and uses bitcoin as good alternative for storing value; holding it for years would be an assurance to solve our world debts once current value would earn higher returns.

if the use of fiat decreases it will increase the inflation rate because there is no ideal circulation. And if the government is known to use bitcoin as an alternative, the debt burden will also be calculated from fiat circulation which is converted to bitcoin and vice versa. Using alternatives outside the recognized system will be a new problem that has no basis for accountability. alternative methods like this cannot be involved institutionally.

[NotATether]

The problem with Bitcoin is that it's not really scalable because of the slow speed and increase in few when transactions increase. But yeah crypto can come handy and can solve many of the problem which presently exist in monetary landscape. Countries are struggling with hyperinflation and centralization of money. I think once people start understanding that a decentralized currency can be a revolution, the whole monetary landscape would change.

This scalability problem affects most of the cryptocurrencies with high liquidity such as Bitcoin and Ethereum. So for people affected by this debt, it can only operate reliably as a store of value that happens to be more available to acquire than gold. Seriously, nobody does transactions with gold and other precious metals.

I know there are blockchains like NEO which can handle thousands of transactions per second but the problem with these is that they are very volatile too.

[samuraijin]

they are worried that they are humiliated by the bitcoin community around the world, they are hypocrites when in fact there is no harm in trying, if all countries and governments want to support bitcoin and other crypto as an alternative to payment transactions or participate in developing campaigns for all of its people, I sure they can pay off their country's debt, unfortunately they don't try this and are always against it as long as there are bankers behind them it will be difficult for them to move to test bitcoin and crypto, they may make the biggest bitcoin mining in their country with their state budget money

[Eclipse26]

Bitcoin really works as a good alternative to fiat but not for everyone. This is subjective. Others find it best as alternative like us. As debt continue to increase, it can lead to inflation so  Bitcoin can be a running place for people. But not everyone will also do it. Some can still be afraid of investing in bitcoin and its volatility. And not everyone really care about a country's debt. But when a currency is slowly losing its value, they'll go with Bitcoin.

[bounceback]

What would you think about this guys? Do you honestly think Bitcoin is gonna be the best alternative choice in this situation?

As we predicted, world debt will continue to swell. But I don't really understand the purpose of Bitcoin as an alternative when world debt swells. We know that the Bitcoin utility can be an alternative payment and can deposit a value. But I still haven't gotten points about how and why Bitcoin is needed when the world is in debt. Can anyone explain?

maybe bitcoin is better because a stable bitcoin inventory can be an antidote for central banks to print money and encourage debt. and bitcoin supply cannot be manipulated or increased according to the wishes of the government or other central banks, so in my opinion because that is what makes bitcoin a good alternative and because bitcoin also has a system that is far different from the fiat financial system.

[BrewMaster]

As much as I like Bitcoin, I don't see it being a solution to the problem OP is referring to. If you don't deal with the monetary policy markers, nothing will change, ever. It's the same group of like-minded elite that's in charge. Something has to change there on a fundmental level. I do not see that happen with how much empirical evidence we have today.

bitcoin has never been a solution to anything. it is an option towards freedom that people can choose to use. and it has always been like this. the governments and the banks will remain in power and control the money printing and everything. in most cases there is a lot of corruption involved in it too. in this corrupted world bitcoin is the way out but it is not going to solve that corruption.

[n0ne]

As much as I like Bitcoin, I don't see it being a solution to the problem OP is referring to. If you don't deal with the monetary policy markers, nothing will change, ever. It's the same group of like-minded elite that's in charge. Something has to change there on a fundmental level. I do not see that happen with how much empirical evidence we have today.

bitcoin has never been a solution to anything. it is an option towards freedom that people can choose to use. and it has always been like this. the governments and the banks will remain in power and control the money printing and everything. in most cases there is a lot of corruption involved in it too. in this corrupted world bitcoin is the way out but it is not going to solve that corruption.

Agreed, this has served to fulfill people with things that can't be done by the traditional banking process. This means it has provided users the freedom on spending. With banks at times even to spend our own money we need the permission of banking authority which is disgusting. This way on some means bitcoin gets considered as an alternative, but it isn't a solution.

[20kevin20]

As much as I like Bitcoin, I don't see it being a solution to the problem OP is referring to. If you don't deal with the monetary policy markers, nothing will change, ever. It's the same group of like-minded elite that's in charge. Something has to change there on a fundmental level. I do not see that happen with how much empirical evidence we have today.

bitcoin has never been a solution to anything. it is an option towards freedom that people can choose to use. and it has always been like this. the governments and the banks will remain in power and control the money printing and everything. in most cases there is a lot of corruption involved in it too. in this corrupted world bitcoin is the way out but it is not going to solve that corruption.

Agreed, this has served to fulfill people with things that can't be done by the traditional banking process. This means it has provided users the freedom on spending. With banks at times even to spend our own money we need the permission of banking authority which is disgusting. This way on some means bitcoin gets considered as an alternative, but it isn't a solution.

If everybody suddenly withdrew all their money out of the banks, closed their bank accounts and turned to crypto it would turn into a solution. The thing is, we are still too tied to those third parties so it became hard to actually untie ourselves from them. A change is possible, a change can happen now. The only problem is, a sudden change in economy like that means a change of our routine. People have to accomodate to another system, and that's uncomfortable for them.