Bitcoin to trigger central bank collapse

[DeadCoin]

Bitcoin still has a good purpose for the world's future to access with no limiting hour which is already tested to make a bridge to any transaction fast and reliable. I think it is unfair if the central bank government collapsing it will be a big loss too many.on the other hand, Bitcoin has no connection for what is the situation with fiat. Right away I also respect this kind of speculation, and presently it is normal but obviously, on the previous record there is a piece of evidence that many countries hate fiat currency and burn it when the pandemic was spreading, additionally, I believe also that both transactions are spending more effort to live forever.

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[bassbity]

Bitcoin still has a good purpose for the world's future to access with no limiting hour which is already tested to make a bridge to any transaction fast and reliable. I think it is unfair if the central bank government collapsing it will be a big loss too many.on the other hand, Bitcoin has no connection for what is the situation with fiat. Right away I also respect this kind of speculation, and presently it is normal but obviously, on the previous record there is a piece of evidence that many countries hate fiat currency and burn it when the pandemic was spreading, additionally, I believe also that both transactions are spending more effort to live forever.

I am curious about a country that burns fiat money during a crisis in a pandemic, can you name one of those countries?

The reason is, it is unfortunate that many around us are not familiar with bitcoin and only rely on fiat money to meet their daily needs for survival in the face of a pandemic. Of course this sounds very sad for the people who do not receive assistance from the government.

[Nhor1011]

Banks is under government authority that's why it's difficult to collapse as long as government support is there. Bitcoin is decentralized which is no single authority controlled which caused the government not accepting it.

[fiulpro]

So you mean that the Central banks were well off on a good road to ever increasing wealth in the first place ? NO ! They are just in a bind and causing numerous problems, not just for the people but for themselves too. The government is the one which is responsible for their stability, if the government cuts off the funds and decides to close them then we will reach a moment when these bodies can start disappearing. Right now I do think that it will take 10 more pandemics to make it happen. The banks might be weak , might be based on a bubble but at the same time they are far from getting collapsed they are more or so funded by the government.

- Bitcoins and other cryptocurrencies are actually dependent on the trading between the Cryptos in fiats and thats how people use them everyday.

Bitcoins won't make them collapse if anything they are actually helping the banks to actually increase their range of customers. They might as be codependent in the future.

***Not always we have to look at things negatively.***

[teosanru]

Well this is just another absurd theory to be very frank. Let me tell you why:
1.

Now we are seeing the wealthy, investment banks and treasury departments of companies OPTING OUT of this monetary riddle by taking their money "out of the matrix" and hiding it in Bitcoin to send their value into the future.  They do this because the value of assets today is too high, yet their cash and bonds are being eaten by fiat printing so they have to invest in something, anything.

No major Investment bank has until now decided to invest a major chunk in Bitcoin and trust me not many really care about the inflation matrix what most of the wealthy investment banks think about is the opportunity cost of capital or the cost of Debt while making their investment decision. Even though Inflation does play a role in it indirectly sole purpose for investment in Bitcoin is higher returns. But isn't this merely hoarding of a utility less asset? I say utility less because if the top players are merely using it as their wealth storage mechanism it's merely going to become  a manipulated speculative asset.

2.

  The more central banks print fiat, the more popular Bitcoin becomes as the smart money escapes the legacy monetary system, but it also works the other way around: the more Bitcoin that is bought, the more central banks are forced to print due to fiat leaving the system for Bitcoin, and a negative feedback loop ensues.

To throw gas on the fire, this disappearing act of fiat into Bitcoin is starting to accelerate since the 2020 halvening event in May.  Not a day goes by when we don't hear of multiple billions being sunk into Bitcoin by a new financial institution, and much fewer Bitcoin are being sold than bought.  The Federal Reserve is seeing weakness in the economy and Congress announced they are printing another 1 trillion dollars to hand out to Americans; on the same day Bitcoin skyrocketed to all time highs.  At a certain point, the exponential flow into Bitcoin will begin to affect the fiat money supply by reducing it significantly.  This will cause deflation and the central bank will print orders of magnitude more fiat, which encourages ever more panicked Bitcoin purchases to preserve wealth, and the cycle continues.

How does fiat leaves the system? When you purchase bitcoin fiat isn't getting burned or is converted magically to ashes. When you buy bitcoin you are buying it from someone who might have brought it or mined it now you are merely exchanging it therefore the fiat still remains in the system with him. In turn if we imagine your kind of scenario it means that the demand for dollars would go down as people would be willing to buy bitcoin and give up dollar. In which case no central bank prints more money what they do is taking out money from the system to create equilibrium so why would they print more of it??  Instead inflation would grow and for bringing down this inflationary situation such measure of taking back some fiat from system would be pretty excellent. And 1 trillion dollars handed over isn't to buy bitcoin for Christmas instead it's for providing up a boost to an already dead economy.

3.

I see a very uncomfortable future for those who don't own Bitcoin.  The transition to the new system is going to impoverish many of the middle class that weren't impoverished before.  The price of a whole coin is accelerating away from the financial reach of the middle class now and will continue to do so ($24,000 USD per coin as of today).  As Bitcoin appreciates higher and higher, the US dollar and other currencies continue to debase themselves trying to catch up in overall value, the planners fill the gas tank faster as it continues to pour out onto the road.

Once again makes no sense. do you have any idea about the scaling issues? we already have a pretty hefty fee and pretty high transaction times at $24000 which are merely going to shoot up with increased value and adoption and so far we have no solutions. This means the utility of being an "CURRENCY" is itself finished. Why would people want to shift to such a currency? Yeah many people might miss a roller coaster ride of 200-300% gains but it's not that they are going to lose on something extraordinary. I think you should look at it from a more macro economic standpoint.

[el kaka22]

Central banks do not collapse, even in nations that has superbly high inflation like Zimbabwe or Venezuela, central banks still manage to get rich somehow. You want to know why? Because, they are the central banks and they can print as much money required as they want, if their money worths nothing, they will use all the paper in the nation to print money if they need to in order to pay off their own debts and their own expenses, whereas everyone else will be screwed and food will be a million fiat instead of a few cents.

What we are trying to achieve with crypto is that when central banks take over and only cares for themselves and screw everyone else, regular people could put their money into crypto and hope that when their nation is doing horrible job running the economy, they could simply get richer thanks to their money being in crypto instead of being in fiat.

[Noctis Connor]

As you said there i don't think it can bitcoin has the power to trigger central bank to collapse since , central bank is the one who supporting countries who needed financial funds as they one who give them money as debt to pay every month and it will be taxed it to the people of one country , If central bank has an eye for bitcoin maybe it can adopt to be a part of blockchain and it will be evolved as one or they can be use to transact money faster without big taxes, But i don't think government will not take that idea coz they have full authority with central bank which they can easily manipulate money and if you compare fiat into currency they always choose fiat where they have a full control to it.

[sheenshane]

IMO, probably we need to stop the perspective of Central Banks being limited to issuing Fiat/money papers because it’s not.
If in case that cryptocurrencies already dominated the market.  Central banks have their choice to move to digital, as well.

Your individual rights for having cryptocurrency is way less than a central bank as an entity or in other words, we can freely have cryptos as much as we can.  They can still dominate it stronger, the bottom line, central banks will never collapse and in fact, Bitcoin isn't a threat for them.

[OpenCryptoSystem]

Its  nice becouse the old system gona die anyways.
Just take from this as much you can !!

Make yourself rich

[Shasha80]

I don't believe Bitcoin to be the trigger for central bank collapse, because until now there is no solid evidence that shows Bitcoin
will trigger central bank collapse. In my opinion, the government will not allow the central bank to collapse, so don't take too far
into this. I believe we all still need fiat, so there's no way central bank collapse.

[CarnagexD]

As of the moment we can see bitcoin coexisting with fiat currencies. Something we weren't even sure about happening last 2017. We're either going for bitcoin toppling fiat or Fiat toppling bitcoin. But it looks like life found a way to make them both happen. So no, it's very unlikely that bitcoin will be the death of fiat or central bank for that matter, as it needs fiat to be relevant for it to be relevant too.

[ene1980]

Pre-Bitcoin, individuals were all trapped in a system where the Federal Reserve and other central banks around the world could create money at will and force people to purchase assets and consumer items so they would avoid inflation.  When fiat is saved, the velocity of money slows and economic activity grinds lower - for this reason the planners wished to encourage spending, and not saving, through quantitative easing.

What is the big difference now, cryptocurrency market is yet to make any major changes as they are viewed as a speculative market and if you are talking about the price then i could agree with it but you are talking about getting trapped in a system  .

If you like it or not you are living in a centralized system and the government will look after the monetary structure and everything revolves around it, if you are telling that all the shops in your locality started accepted bitcoin then you can get rid of your federal reserve currency.

Another factor is that bitcoin is not created to get rid of the central banks nor it is created to replace fiat currency, we are seeing similar topics for a very long time and till now there is no instance where in which we could very well tell that bitcoin will replace fiat simply because of the volatility and the transaction delays. 

[suzanne5223]

I am surprised how some people mistakenly understand Bitcoin which was created as an alternative not to actually take over fiat currency not to take of collapse Central Bank and if some companies now use it as their reserve currency it doesn't explain the true purpose of Bitcoin. However, the IMF has advised the government to limit printing of currency and they use integrate national digital currency why didn't they do that before some companies use Bitcoin as a reserve.
The government and the Central Bank officials are those that trigger Central Bank collapse, not Bitcoin.

[bitterguy28]

Central banks will rather adopt blockchain and evolve. Bitcoin solely is not enough to solve global problems

and Even before the collapse of central banks ,for sure Bitcoin will be Banned and restrict to that country hehehe..

and you are correct ,Central bank can adopt Blockchain so it will be trusted of their countrymen.

People nowadays are digging their Mind so deep just to connect bitcoin, Why not just take a Movie maker course because most of their ideas are only for James Bond movies..impossible

[AicecreaME]

It’s nearly impossible for bitcoin to be one of the main reasons why the central banks would collapse. Central banks exist because the government is utilizing its functionalities. The government of each countries are the ones responsible if ever these central organizations would experience downfall. The government is accountable for money production, designing, and circulation. If they will continue to use the fiat currency as long as they want, the central organizations will continue to thrive and exist. It won’t be easily replaced nor abolished as it existed long before. It still remain relevant and widely used all over the globe.

Meanwhile, bitcoin is still new in the industry. Not that I’m underestimating bitcoin, but I’m stating the truth that it won’t easily surpass and trigger the phasing out of fiat currency altogether with the central organizations. The traditional banks and currency would remain for as long as the government would let it be. Right now, there are still many countries that haven’t legalize the use of bitcoin yet. However, there are few that has opened their doors to bitcoin, but with limitations. You see, the government won’t just trust the bitcoin community that fast, hence the probability of it triggering the downfall of banks would be slim.

[Mauser]

As of the moment we can see bitcoin coexisting with fiat currencies. Something we weren't even sure about happening last 2017. We're either going for bitcoin toppling fiat or Fiat toppling bitcoin. But it looks like life found a way to make them both happen. So no, it's very unlikely that bitcoin will be the death of fiat or central bank for that matter, as it needs fiat to be relevant for it to be relevant too.

This seems to be the most likely outcome in my opinion as well. A coexistence of Bitcoin's and fiat currencies is likely to continue like we see it right now. Too many companies, governments and people still depend on the central bank to take care of them.

[tygeade]

Central bank collapse will happen with or without bitcoin. Look at all those nations with horrible economies, central banks are not helping at all, because all they can afford is literally printing money and nothing else, maybe allow people to have higher interest rates and so forth as well but that is about it.

It means people will not really care about central banks eventually, they will see it as the enemy in long enough period, and already seen in few nations, so they are "collapsing" even if not on paper, at least in the eyes of citizens. This means there will be a lot more interest towards crypto no matter what, I understand that it may not be right away, but it will take some time and it will happen, which is why I believe it is around time people should move to crypto asap if they want to avoid what will happen to central banks when public starts to ignore it.

[magneto]

In the end, a complete reordering of the entire global economic system will need to occur as the world economy stalls in its depreciating orbit and is caught in the gravity well that is Bitcoin, the new world reserve currency.  Millions of people will lose their fixed income, cash and bonds to hyper-inflation while Bitcoiners become the new global wealthy, leisurely floating over the tidal wave of devalued dollars, in an ocean of paper money.  The Federal government disappears like the Soviet Union as their financial instruments fail completely and there is a physical struggle for control as the power structure decentralizes.  Crypto exchanges become our new economic pillars that control transfer into and out of the financial matrix as people desperately attempt to secure a handful of Satoshis, as the price of a full Bitcoin moves completely out of sight. 

I think that this will be reality, albeit a distant one.

Whether or not the fiat system holds up post-pandemic will be a huge determinant of how much adoption we see for BTC and whether or not a mass adoption event will be possible during this decade.

The threat of a re-ordering of the global monetary system (which will go to zero as a matter of time given it's built on straws entirely) should be enough to prompt everyone from individuals to firms to hold some BTC as a hedge, imo. Even if you don't necessarily believe that a reset of this magnitude is probable, it is a possibility that needs to be addressed by any holistic investment strategy.

[Smartvirus]

Now we are seeing the wealthy, investment banks and treasury departments of companies OPTING OUT of this monetary riddle by taking their money "out of the matrix" and hiding it in Bitcoin to send their value into the future.

Opting out you say?! can they really do that? even if they are to by pass some bank policies, so long as the banks still issue out fiat and are within a nation bounded by boarders, its is very much unlikely for any local bank to opt out of there nations central bank monetary policy. This policy is like a permit for operation in other to safe guard customers money. I can agree with you @OP on the note that, a portion of its revenue is invested in bitcoin or cryptos but, i dont believe they can opt out of a central banks monetary policy.

Like the first commenter said, central bank collapse is next to impossible as this remains a major tool in the hands of government and we can rightly say that, the banks are the government itself. Bitcoin has got potentials and good plans for the world but, its got to do so along with the fiat and central banks print fiats so, a collapse is never happening.

[Broly46]

When you successfully convince 50% of all your friends in your social network profile, that might increase the odds by 1%, yup, you would still need another 99% to overturn the central bank. That’s how difficult, no need a wall of text of why and why.

Absolutely agree! No matter how long he will write the reason why, we already know the answer to this - no, not in the very near future. Just be grateful that bitcoin adoption is growing, but triggering to collapse the central bank, not a chance. The government will not let that situation to happen for many reasons.

OP trying to convince we are triggering the bank collapse, but that’s not a good opening phrase to tell your friend about bitcoin, it would have adverse effect on you, that sound like we are a bunch of criminal trying to rob the central bank and we want to invite them friends to join force.