death69
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April 16, 2023, 06:50:43 PM |
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Gosh ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Behold our financial prankster extraordinaire! Your audacious take on the global economy is fascinating, but let's not go off the rails here, okay? True, fiat money devaluation could boost cryptocurrencies like Bitcoin, but that's hardly a lasting fix. It might benefit us BTC holders, but what about the wider societal repercussions? As alluring as it is to witness chaos, we can concur that a stable, flourishing economy benefits everyone. So, while we exploit market trends and invest wisely, remember that a robust economy serves us all. But hey, I'm just a humble nerd. Go ahead and gamble if you wish, but don't come sobbing when the world economy crumbles and we barter beans for a smidgen of BTC.
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Abiky
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April 16, 2023, 07:40:06 PM |
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With the printing of fiat money that is always in constant motion by the powers that be. As the fiat money devalues in value. The value of BTC and other cryptos goes up. So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.
Does that mean we should be embracing the printing of money?
Make all our money go totally out of value, so anyone holding BTC can get good value?
Does this make sense?
Inflation is good because it helps scarce commodities like Bitcoin and Gold to rise in value over time. But it's bad for those who only depend on Fiat to survive. What costs you $10 now, might cost you $20 in the future due to inflation. Things valued in BTC, get cheaper in crypto terms but not in Fiat terms. You may think you're getting higher purchasing power over time, but that's not really the case. It's best to focus on accumulating more BTC over time, instead of simply "hodling" coins until they're worth more in Fiat terms. We can't stop banks from printing more money in the long run, so it's best to be prepared for the worst just in case. Just my opinion ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Hyphen(-)
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April 16, 2023, 08:04:31 PM |
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I don't think BTC has to wait for the FIAT value to fall before going up as you expect; we can't go without Fiat because we need it for local exchanges of goods and services, and not everyone knows about Bitcoin and blockchain technology, especially in rural areas.
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jostorres
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April 18, 2023, 03:55:09 AM |
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which could result into low demand of bitcoin
What difference does it make if the demand for bitcoin rises or falls? One BTC will remain one BTC. Of course, we all know the theory that money is a kind of commodity, but bitcoin itself is designed in such a way that when interest rises and falls, the level of complexity simply changes, and the network itself continues to work stably, so it’s not scary if the demand for bitcoin decreases. What do you mean by one BTC will remain one BTC even if the demand decreases? Are you not aware of the supply and demand rule and how it works? The price of Bitcoin or any commodity or thing increases if that commodity or thing gets a higher demand if it has a limited supply, and the same thing happens in the opposite way if the demand drops. The interest rising or falling may don't have any effect on the network and it will obviously continue to work stably, but that does affect the market in general, in terms of monetary value. Bitcoin and any other cryptocurrency with a limited supply need higher demand to have a further increase in its price.
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Who is John Galt?
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April 18, 2023, 10:32:51 AM |
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What do you mean by one BTC will remain one BTC even if the demand decreases? Are you not aware of the supply and demand rule and how it works? The price of Bitcoin or any commodity or thing increases if that commodity or thing gets a higher demand if it has a limited supply, and the same thing happens in the opposite way if the demand drops.
The interest rising or falling may don't have any effect on the network and it will obviously continue to work stably, but that does affect the market in general, in terms of monetary value. Bitcoin and any other cryptocurrency with a limited supply need higher demand to have a further increase in its price.
Suppose the demand for dollars decreases, how many dollars will one dollar cost then? Five dollars? Ten? One hundred? As long as you count everything in dollars, there is a price for this in dollars, but the dollar itself cannot change relative to itself. By changing the paradigm, and starting to look at the world through bitcoins, and not through dollars, in the same way we have a situation where 1 bitcoin remains one bitcoin forever. It doesn't matter whether demand is rising or falling at any given moment. Unlike the dollar, the number of bitcoins will not increase or decrease from this.
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uneng
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April 18, 2023, 02:48:28 PM |
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Inflation is good because it helps scarce commodities like Bitcoin and Gold to rise in value over time. But it's bad for those who only depend on Fiat to survive. What costs you $10 now, might cost you $20 in the future due to inflation. Things valued in BTC, get cheaper in crypto terms but not in Fiat terms. You may think you're getting higher purchasing power over time, but that's not really the case.
Although it's tempting to cheer up for inflation to continue rising on this case, so our assets get more valuable, I don't think it's right to endorse the chaos in order to profit from it. It may be possible to profit from Bitcoin the more inflation increases, but on the other hand, there are many cons which will impact you sooner or later. They are: increased criminality rates due to poverty, shortage of basic products disponible for sale, unemployment and the total bankruptcy of the state. It's better that Bitcoin keeps climbing up in smoother steps, without inflation striking too hard.
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Ucy
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April 18, 2023, 03:22:19 PM |
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With the printing of fiat money that is always in constant motion by the powers that be. As the fiat money devalues in value. The value of BTC and other cryptos goes up. So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.
Does that mean we should be embracing the printing of money?
Make all our money go totally out of value, so anyone holding BTC can get good value?
Does this make sense?
That depends on whether Bitcoin remains strong then, as fiat weakens. So it's better to focus more on things that keep it stronger and better rather than hoping that it effortlessly benefits from weakening fiat. By the way, everyone getting lots of money printed out of thin air to buy bitcoins could consequently collapse & devalue the price as it becomes common and easy to get.... price will quickly collapse back to where it deserves to be as most people already have too much they don't know what to do with..thereby selling them at lower price till it returns to its actual value. What you need to do to drive the price up is to create real demand or by encouraging things that create real demand. That's part of the reason we (the Bitcoin Master) don't just move things up without first making it valuable. If people forget how truely valuable and useful Bitcoin is just shine your light and they will value it. Merely thinking about it could do, depending on your power and ability.
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suzanne5223
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April 18, 2023, 03:34:37 PM |
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With the printing of fiat money that is always in constant motion by the powers that be. As the fiat money devalues in value. The value of BTC and other cryptos goes up. So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.
The Banks are the ones in charge of printing new fiat currency and the devaluation of fiat currency is not the major reason that triggers the surge in the price of BTC. Remember, Satoshi has already led the framework of block halving to prevent inflation and encourage an increase in demand. Does that mean we should be embracing the printing of money? Make all our money go totally out of value, so anyone holding BTC can get good value? Does this make sense?
You can embrace the idea by investing in assets than holding fiat currency since holding fiat is never a good idea in the first place.
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🎁 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . 375% | 200 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | 🛞 | ☆ | | ☆ | 🛞 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀ .U P T O . ▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .300€ + 50 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .F R E E S P I N S . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | 🎁 | |
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Dickiy
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April 18, 2023, 03:55:33 PM |
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With the printing of fiat money that is always in constant motion by the powers that be. As the fiat money devalues in value. The value of BTC and other cryptos goes up. So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.
Does that mean we should be embracing the printing of money?
Make all our money go totally out of value, so anyone holding BTC can get good value?
Does this make sense?
I'm very doubtful about that thought, basically when FIAT does too much printing it will increase the price of goods because there is more money in circulation than goods so maybe your thinking is that bitcoin is an item that will increase in price if money circulates in society because there will be demand for it. bitcoin, but it's not that easy to relate to this, in my opinion, there are too many bad effects if too much money is printed, which will directly attack financial stability and also affect monetary policy which changes like what Thefed has done to this day.
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Aikidoka
Sr. Member
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Sinbad Mixer: Mix Your BTC Quickly
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April 18, 2023, 04:10:14 PM |
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I don't think BTC has to wait for the FIAT value to fall before going up as you expect; we can't go without Fiat because we need it for local exchanges of goods and services,
Exactly, it doesn't depend much on FIAT currency. The value of Bitcoin depends on the number of people who buy and support it over time. I'm confident that Bitcoin will gain significant value in the next few years if more people join the community and recognize the importance of using Bitcoin and how it can improve financial transactions in the future. One day, we may not need banks anymore as long as we have Bitcoin and other cryptocurrencies to send and receive money anytime and from anywhere on earth. not everyone knows about Bitcoin and blockchain technology, especially in rural areas.
That's why we need to promote it and make people that lives in such rural areas or in 3rd world countries knows much about it and get into this community.
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electronicash
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April 18, 2023, 04:14:25 PM |
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does it make sense to hope that there will be inflation so that the BTC price will go up? as much as possible no b because even when you have a ton of USD, let's say $1M per BTC, the purchasing value of the $1M will also be weaker. it couldn't be that hard to figure but people will not look at it that way though. i can understand though that you will like to have $1M regardless of its purchasing power.
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Asuspawer09
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April 18, 2023, 04:18:55 PM |
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With the printing of fiat money that is always in constant motion by the powers that be. As the fiat money devalues in value. The value of BTC and other cryptos goes up. So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.
Does that mean we should be embracing the printing of money?
Make all our money go totally out of value, so anyone holding BTC can get good value?
Does this make sense?
Printing money is always a big problem in a lot of countries, Inflation cannot be stopped and for me, bitcoin is one of the ways to salvage your money from inflation. It's obviously wrong that the government is printing money, but it's already how it works so we can't really do anything about that. Looking at the Bitcoin structure it supposes to be rare in the future, I think Bitcoin is the best investment that we could make to avoid inflation. Accumulating more Bitcoin is the best thing to do because the market prices could skyrocket at any moment.
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YUriy1991
Sr. Member
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April 18, 2023, 04:26:23 PM |
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I think it's related to the relationship between inflation and the value of BTC. This is a complex topic that requires a nuanced understanding of the economic principles and cryptocurrency market, why it is. First, it is important to see that inflation refers to an increase in the money supply in circulation, which results in a decrease in the purchasing power of money. Conversely, deflation is a decrease in the supply of money in circulation, which causes an increase in the purchasing power of money.
Well, if you look at it from a BTC perspective, it is true that the value of BTC tends to increase when there is inflation in the economy. This is because BTC is a decentralized cryptocurrency that is not subject to the same inflationary pressures as fiat currency, which is controlled by a central bank. As a result, investors often view BTC as a hedge against inflation.
However, it would be inaccurate to say that we should embrace printing money to increase the value of BTC. Inflation can have a negative impact on the economy, such as reducing consumer purchasing power and creating uncertainty in financial markets. Therefore, it is generally discouraged to chase inflation as a means of increasing the value of BTC.
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Abiky
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April 18, 2023, 05:01:33 PM |
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What do you mean by one BTC will remain one BTC even if the demand decreases? Are you not aware of the supply and demand rule and how it works? The price of Bitcoin or any commodity or thing increases if that commodity or thing gets a higher demand if it has a limited supply, and the same thing happens in the opposite way if the demand drops.
The interest rising or falling may don't have any effect on the network and it will obviously continue to work stably, but that does affect the market in general, in terms of monetary value. Bitcoin and any other cryptocurrency with a limited supply need higher demand to have a further increase in its price.
Bitcoin was meant to be used as an alternative to Fiat in the first place. Not as something you can hoard for profit. Theoretically, 1 BTC will always be equal to 1 BTC no matter what. The problem is that people are measuring BTC's value in Fiat terms. If they did use BTC regardless of market prices, things would be a lot different now. I'm waiting for the day when the world ditches the "Fiat Standard" in favor of the "Bitcoin Standard". Once that happens, BTC will be used as the main unit of account (meaning everything will be valued in BTC terms, not Fiat). Why would I care about Fiat inflation, especially when it's doomed to failure? We should focus more on filling our bags with Bitcoin, as it's sound money that can't be controlled or debased by anyone. Supply is fixed to 21m units, so there's nothing to worry about. Who knows how far BTC will go in terms of mainstream adoption? Just my thoughts ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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|MINER|
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April 18, 2023, 06:13:18 PM |
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Exactly, it doesn't depend much on FIAT currency. The value of Bitcoin depends on the number of people who buy and support it over time. I'm confident that Bitcoin will gain significant value in the next few years if more people join the community and recognize the importance of using Bitcoin and how it can improve financial transactions in the future. One day, we may not need banks anymore as long as we have Bitcoin and other cryptocurrencies to send and receive money anytime and from anywhere on earth.
Agreed with you on this point that it doesn't depends on fiat that how much it inflated or not . The main fact is there is no connection with the fait currencies inflation rates for the good value for bitcoin. It completely depends on people like us. The total supplies for bitcoin is 21Million and day by day the uses of it increasing and the more people will involved with it I think the more demand will increase so in the end the price also have to increase. So if we look like this way I don't think we have connected the inflation with the value of Bitcoin
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ZAINmalik75
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April 18, 2023, 08:02:37 PM |
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So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps. Does that mean we should be embracing the printing of money?
It will be not a good decision but I think if banks print dollar out of crazy number then difinitely Bitcoin will go over a million dollars, but at the same time the prices of goods which used in daily life will be raised to his high because of the high circulating supply of fiat(dollar) in market. so million dollar price of BTC will not worth for people because fiat due to higher supply alredy lose much value. But any government will not allow such kind of activity because it will directly damage Thier economy too
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