Economic Growth on a Bitcoin Standard

[fiulpro]

Why would you peg something like bitcoins against USD. The USD is fiat which is the base of many transactions when you trade as well. Why would a country like the US do that ? They need something that is non volatile and are the same time more reliable, bitcoins overall would not work if the fiat starts pegging them since how would you trade? How would things work out ? The economic growth would not really continue since it would be too volatile and the markets will have heats of inflation and deflation. There are many countries which dependent upon the USD therefore their economy will collapse as well..that would be a big hit to everything.

[Henrobakkara]

Hypothetically if the USA pegged the US dollar to Bitcoin how would economic growth continue. I am a huge Bitcoin proponent but looking at it from this lens puzzles me. Restricting the printing press would, in my opinion, slow economic growth significantly. What would the world look like after this? Are there opposing viewpoints?

Factually not going to happen why would you even think that the US government will peg the USD to Bitcoin? I think sometimes we overthink what we see Bitcoin as and what we think Bitcoin should be. It should be an alternative to all the craziness with fiat currencies and not to be pegged to it. 

[LUCKMCFLY]

Hypothetically if the USA pegged the US dollar to Bitcoin how would economic growth continue. I am a huge Bitcoin proponent but looking at it from this lens puzzles me. Restricting the printing press would, in my opinion, slow economic growth significantly. What would the world look like after this? Are there opposing viewpoints?

Factually not going to happen why would you even think that the US government will peg the USD to Bitcoin? I think sometimes we overthink what we see Bitcoin as and what we think Bitcoin should be. It should be an alternative to all the craziness with fiat currencies and not to be pegged to it. 

From what I can understand is that you base your reasoning on saying that the dollar instead of being unlimited in the printing of banknotes is limited or has a limited number of printing, this would be the death of inflation, I understand that, and if it were So yes, the money in this case the dollar would have an incredible value, because by stopping printing the cash bills it would be limited as BTC, which is limited to 21M of Btc and that is why it is deflationary in nature.
    This is what would make fiat money create a great economy, but given the included interest from the government, it will never happen, they will always give the impression of cash, increasing inflation.

[Silberman]

Hypothetically if the USA pegged the US dollar to Bitcoin how would economic growth continue. I am a huge Bitcoin proponent but looking at it from this lens puzzles me. Restricting the printing press would, in my opinion, slow economic growth significantly. What would the world look like after this? Are there opposing viewpoints?

You do not understand, the economic growth that we have seen based on debt has been nothing but a lie, once we see the current economic system collapse then we will see the real economic growth that such a system brought, the gold standard brought the greatest prosperity the world has ever seen, and since bitcoin is even a more solid form of money than gold then I expect the prosperity that we could witness to be without any precedence in the history of the world.

[mildmanneredsuffering]

Hypothetically if the USA pegged the US dollar to Bitcoin how would economic growth continue. I am a huge Bitcoin proponent but looking at it from this lens puzzles me. Restricting the printing press would, in my opinion, slow economic growth significantly. What would the world look like after this? Are there opposing viewpoints?

You do not understand, the economic growth that we have seen based on debt has been nothing but a lie, once we see the current economic system collapse then we will see the real economic growth that such a system brought, the gold standard brought the greatest prosperity the world has ever seen, and since bitcoin is even a more solid form of money than gold then I expect the prosperity that we could witness to be without any precedence in the history of the world.

how do I know you are new? you called bitcoin that crashes relentlessly has had multiple 80% loss crashes and has an army of f;rat boy shills "solid".

that in no way is an accurate view of recorded history. I think diarrhea comes closer to the definition of solid. lots of stephen king horror questions for a bitcoin forum huh

[kryptqnick]

Hypothetically if the USA pegged the US dollar to Bitcoin how would economic growth continue. I am a huge Bitcoin proponent but looking at it from this lens puzzles me. Restricting the printing press would, in my opinion, slow economic growth significantly. What would the world look like after this? Are there opposing viewpoints?

I don't see why that would happen, actually (I mean, the growth). Do you mean the USD becoming super volatile because of being valued based on Bitcoin as a standard? How would that help anything? Investing in Bitcoin, promoting pro-crypto businesses, making favorable regulations - sure, they could all be helpful. But linking currencies, and making something that's susceptible to inflation but fairly stable dependent on something generally growing in value, but very volatile, doesn't seem like a good idea. Also, there are good things about printing money. It's truly needed to help people during hard times like the pandemic.