Can Bitcoin solve the world's debt problem

[Maslate]

Is bitcoin a possible solution to this mess? If more and more people start going from fiat to bitcoin, can we at least end up having a soft landing when shit hits the fan? Or will bitcoin exascabate the problem instead? Is there still hope for this world?

For me, it is NO. why? It is because this was a personal interest that brought someone into crypto, not all have a chance to invest and even to earn profit. If someone is in debt because it was their choice and they can find a way to solve it. Though we think that Bitcoin could give them some opportunities, well, if that only if are willing to risk their money. But with their situation, that seems so hard for them to invest. I don't think that they prioritize this thing.

[nurilham]

The world's debt problem is a complicated matter, I am not sure to rely on Bitcoin to solve it. Although it is possible, this time is too early to consider it. Let Bitcoin survives and is accepted by all people around the world first. Then, we can see how the progress of Bitcoin development and its possibility to have a role in many aspects of life. In that time, we can consider the possibility of Bitcoin to solve the world's debt problem.

[yazher]

I am not sure bitcoin needs to solve this problem. And I don't think it can. Bitcoin first and foremost should be a change in people's perception of what money is and how it can work without big institutions and governments. If it does just that, then its purpose is complete.

That's how it should be before it will tackle any world problem since it was created for that purpose where we will be free ourselves with any use of banks someday. World debt is on another page of the book and honestly, it does not really related to bitcoin except they're both talking about money. Anyway, there are lots of fixing and needed to clarify about these things, and one of the needed ways to make bitcoins one of the top use payments systems in the world is to adopt and promote it to others that are don't aware of the opportunity it brings.

[ethereumhunter]

The world's debt problem is a complicated matter, I am not sure to rely on Bitcoin to solve it. Although it is possible, this time is too early to consider it. Let Bitcoin survives and is accepted by all people around the world first. Then, we can see how the progress of Bitcoin development and its possibility to have a role in many aspects of life. In that time, we can consider the possibility of Bitcoin to solve the world's debt problem.

Yes, it is too early. Bitcoin does not reach all countries yet. Maybe give bitcoin more time to be known in all countries first so people can realize what bitcoin can give to them. But the world's debt will depend on how the countries can solve it and if they still borrow money from the other country, bitcoin does not solve the problem. Sometimes, one country prefers to take debt from the other instead of trying to cover what they need. That government thinks that by taking a debt, they can solve their problem inside of their country fast than trying to solve it with their resources. But that will depend on their policy.

[mrjoy15]

Nothing can solve the world's debt problem except development. As different countries continue to develop, they pay up their debt. In this case Bitcoin has no role to play. Nothing at all. It's just a currency, no super powers outside being digital.

Bitcoin's current goal is to become global currency all over the world, not to give the world's debt solution. Rather concentrate on unusual things better move your concentration how to become successful. I know this isn't a big deal for most people but if you smart enough you know well how to get benefit from bitcoin. However, this volatile currency could change your life.

[jinneas]

Bitcoin can provide a solution to the world's debt problem, but it will not completely solve the debt problem.
The central bank continues to inject capital into the market to maintain high liquidity and allows banks to issue more loans, thereby increasing total debt. Bitcoin is the only decentralized currency with scarcity and limited supply. Without a centralized organization, no government agency can manipulate it, which can effectively alleviate this problem.

[Kong Hey Pakboy]

Here's the thing though, this debts that you're mentioning doesn't have to be paid in money, these debts gets paid in favors, they don't care about the money and they won't accept getting paid in bitcoin even if we have enough money to do so.

[marine4u]

Can Bitcoin provide a way out of the world's debt problem? The current fiat world incentives debt through currency debasement and cheap debt. Too much debt can be a problem for long-term productivity and raises questions about sustainability.

Is bitcoin a possible solution to this mess? If more and more people start going from fiat to bitcoin, can we at least end up having a soft landing when shit hits the fan? Or will bitcoin exascabate the problem instead? Is there still hope for this world?

I think bitcoin has the potential to solve the problem of inflation in the face of increasing consumption indicators causing the devaluation of fiat currencies. Historically there is no evidence of the ability to settle debts from bitcoin. That year, Venezuela may have gone into the tunnel, but it was adamant not to adopt bitcoin as a defense against those massive debts. Whether bitcoin will be legal tender worldwide in the future but I'm not sure this is resolved and is an effective method.

[ultrloa]

Can Bitcoin provide a way out of the world's debt problem? The current fiat world incentives debt through currency debasement and cheap debt. Too much debt can be a problem for long-term productivity and raises questions about sustainability.

Is bitcoin a possible solution to this mess? If more and more people start going from fiat to bitcoin, can we at least end up having a soft landing when shit hits the fan? Or will bitcoin exascabate the problem instead? Is there still hope for this world?

I think bitcoin has the potential to solve the problem of inflation in the face of increasing consumption indicators causing the devaluation of fiat currencies. Historically there is no evidence of the ability to settle debts from bitcoin. That year, Venezuela may have gone into the tunnel, but it was adamant not to adopt bitcoin as a defense against those massive debts. Whether bitcoin will be legal tender worldwide in the future but I'm not sure this is resolved and is an effective method.

Maybe by the means of pumping up when bull market happens but not every month is bull run so provably a country can experience the worse if bear season happens since there holdings will decrease for sure and I don't know on how government can handle that situation especially if they are new unto this industry. Let see how all things things works in El Salvador since if they became successful and became sustainable in more years then this should needed to look by other countries.

[pinggoki]

This is a problem that banks have caused to create profit, to have bitcoin solve it, if it can anyway, is like having someone clean up after your mess. If we are to reinvent the way currency works through the introduction of cryptocurrencies as the main form of payment method that we will use, we may not even have to worry about the debt itself as banks would be obsolete and in any case this should clear out the small debts. Larger debts in the form of loans on the world bank however may require a larger form of effort to be exerted which bitcoin doesn't have to do.

Can Bitcoin provide a way out of the world's debt problem? The current fiat world incentives debt through currency debasement and cheap debt. Too much debt can be a problem for long-term productivity and raises questions about sustainability.

Is bitcoin a possible solution to this mess? If more and more people start going from fiat to bitcoin, can we at least end up having a soft landing when shit hits the fan? Or will bitcoin exascabate the problem instead? Is there still hope for this world?

I think bitcoin has the potential to solve the problem of inflation in the face of increasing consumption indicators causing the devaluation of fiat currencies. Historically there is no evidence of the ability to settle debts from bitcoin. That year, Venezuela may have gone into the tunnel, but it was adamant not to adopt bitcoin as a defense against those massive debts. Whether bitcoin will be legal tender worldwide in the future but I'm not sure this is resolved and is an effective method.

Inflation, certainly. But massive debts? It's unnecessary and quite impossible even for something as revolutionary as bitcoin. Bitcoin could at least help a country utilize its potential much wiser and with that comes the potential for an upheaval in the economic sector and a clearing of national debts in the process. This is just my idea of how bitcoin could assist in the debt crisis and I am not quite sure if this is a very viable move that countries could take in the near future.

[Welsh]

Unfortunately, Bitcoin isn't likely to be adopted by everyone, and by the time that people start taking notice of it globally, it'll likely be distributed to the wealthy, rather than those that are currently poor. If you take a look at some high profile people, they are likely invested in Bitcoin. I believe Elon claimed that himself, and Tesla have invested millions into Bitcoin, so its likely that the wealth divide will be just as big. However, the early adopters that hold onto their Bitcoin, will likely become wealthy, but I don't think its going to eradicate the debt issue, and the fact that most people of today are poor. 

[wxa7115]

Can Bitcoin provide a way out of the world's debt problem? The current fiat world incentives debt through currency debasement and cheap debt. Too much debt can be a problem for long-term productivity and raises questions about sustainability.

Is bitcoin a possible solution to this mess? If more and more people start going from fiat to bitcoin, can we at least end up having a soft landing when shit hits the fan? Or will bitcoin exascabate the problem instead? Is there still hope for this world?

There is no saving the fiat system and there is no soft landing, once governments lose control of their economies things are going to get really ugly really fast, which is why it is important to prepare yourself before that happens, you do not have to go to extreme measures that we can see some people taking, something as simple as having some gold and some bitcoin can be more than enough in order to help you during those difficult times.

Bitcoin could help once a new system is put in place, the current system which is based on debt and eternal consumption is flawed by nature, a system that is based on a very strong currency and that has such a hard limit on its supply as it is the case of bitcoin can be the cornerstone to create a new kind of economy which is based on more grounded principles.

[DooMAD]

There are projects that do aim to address the issues with fiat money.  Around the same time I discovered Bitcoin, I also became aware of Positive Money.  They advocate some fairly radical changes which could conceivably make debt-based systems more sustainable.  However, none of the views they espouse appear to have much, if any, overlap with Bitcoin.  In fact, they seem rather dismissive of Bitcoin in general, but I suspect that's because they recognise the difference in objectives.

I find it easier to keep a sharp delineation between the two.  Bitcoin will always do its own thing.  While fiat needs to sort itself out.  One absolutely cannot "fix" the other by attempting to blur the lines between the two.  They're at crossed purposes.

[ik5656]

To some extent, we've got to look at things this way, that the world's monetary and food problems have got a lot to do with population. Its where the issue always starts because, the rate at which population grows and demands increases doesn't meet up with the production rate. No matter to what extent an innovation is brought up to solve the problem of today, the question of sustainability is always going yo be there because, the population problem is left unsolved. Yet, its the simplest problem of all and it would only take humans to listen. Population growth might mean an increased in workforce but, notbonly that, a lot of persons aren't willing to work but, a whole lot of others are too dependent on the government and the notion of its greener somewhere so, uour present location has got nothing to offer is killing us.
Bitcoin might seem a solution for the moment but, its only temporary!

[dificanovi]

Can Bitcoin provide a way out of the world's debt problem? The current fiat world incentives debt through currency debasement and cheap debt. Too much debt can be a problem for long-term productivity and raises questions about sustainability.

that can happen, the leaders of countries should buy bitcoin when the price is cheap and hold it until the bitcoin price rises and get so much profit that the country's debt can be paid off. I think investing in bitcoin to pay off the country's debt is the right choice.

[nurilham]

Yes, it is too early. Bitcoin does not reach all countries yet. Maybe give bitcoin more time to be known in all countries first so people can realize what bitcoin can give to them.

You're right. Let Bitcoin be adopted by all countries first, or most countries in the world at least. When Bitcoin can be a legal currency for almost all countries in the world, we can see how the potential or possibility of Bitcoin to solve varied problems in the financial sector. It is probably can solve a debt problem if the governments in the world agree to use Bitcoin together. If the situation on Bitcoin is still the same as today, I doubt Bitcoin can have a big role such as solving a debt problem of the world.