New Stimulus Bill Rejected- Good News For Bitcoin..

[goldade]

As much as it is possible that quite a large number of people did put their stimulus checks of $1200 into bitcoin, it is still very insignificant as compared to the market volume to have any effects on the price of bitcoin.
If by 'good news for bitcoin' as you wrote  in the topic, you meant that people are beginning to trust bitcoin to the extent of investing in it, then I totally agree with you but if you meant that it'll increase the price of bitcoin, then I think you're wrong.
It is only natural that with the current economic crisis, people find a safe haven to invest in. It's what anybody would have done.

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[pawanjain]

It's going to be a disaster really in a matter of months or years at last. And if that isn't bad enough, the entire world's economy will be affected by it. On the other hand, I guess it's great that at least we're some of the few who've locked in a quite safe position.. safer than fiat anyway, considering all the events.

I'm no economics expert, but I think the effects would be felt years and years down the road, while some people are sort of "celebrating" right now due to the "free"(at least some of them think it is) money. Feel free to correct me if I'm wrong though.

And yea, I also think I might be in a safe position(at least safer than the people who doesn't have assets) due to my holdings, but damn a lot of people are screwed.

Damn, the US government is printing huge amount of money out of thin air. I wonder how much inflation this would bring in the upcoming years.
I guess this is why people are investing more in bitcoin so that they can tackle the inflation as the price of bitcoin grows over the years.

[cutezap]

And why this is a good news for bitcoin? Fresh money is always good for the industry

Exactly. I think is has also contributed to the dip of btc.

[ChiBitCTy]

It's going to be a disaster really in a matter of months or years at last. And if that isn't bad enough, the entire world's economy will be affected by it. On the other hand, I guess it's great that at least we're some of the few who've locked in a quite safe position.. safer than fiat anyway, considering all the events.

I'm no economics expert, but I think the effects would be felt years and years down the road, while some people are sort of "celebrating" right now due to the "free"(at least some of them think it is) money. Feel free to correct me if I'm wrong though.

And yea, I also think I might be in a safe position(at least safer than the people who doesn't have assets) due to my holdings, but damn a lot of people are screwed.

Damn, the US government is printing huge amount of money out of thin air. I wonder how much inflation this would bring in the upcoming years.
I guess this is why people are investing more in bitcoin so that they can tackle the inflation as the price of bitcoin grows over the years.

The United States is always getting the press on how much money they continue to print, and rightfully so, but the fact of the matter is every single central bank on earth can print as much money as they want.  Despite what many think, these governments don't want to do this, and know there is a limit, otherwise they'd all be printing as much as they possibly can.  That doesn't mean it wont have a negative impact as some point, and it does scare a lot of people right here and now so it lends a net positive to bitcoin with out question.  Also there's more to inflation than just printing money, theres open market operations of buying and selling securities and establishing lower or higher interest rates etc etc.