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Author Topic: Every time a new Bitcoin Block is found, US prints $69 million!!!  (Read 489 times)
pooya87 (OP)
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March 05, 2024, 01:15:22 PM
Merited by BlackHatCoiner (4), ImThour (2), vapourminer (1), DisabledAF (1)
 #1

If you ever doubted why you should buy Bitcoin, here is a scary image for you:


This is what a no-cap currency looks like. Printed non-stop and out of control. Things are getting worse with US economy even if it doesn't look like it on paper. US government that has long ran out of money to spend while continues having rising costs is now going nuts with the printers.  Shocked

Every 100 days the US national debt is increased by over a trillion dollar! That is about $69 million every time we find a new Bitcoin Block (ie. 10 minutes on average) and "print" 6.25BTC which is worth only about $400k.

I'll leave it to you to calculate the intrinsic value of Bitcoin when measured in US dollar.... it definitely is not $67k or even $100k!

Here is something you could read: https://www.cnbc.com/2024/03/01/the-us-national-debt-is-rising-by-1-trillion-about-every-100-days.html


P.S. This also highlights the importance of dedollarisation for the rest of the world, by the way.

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March 05, 2024, 01:24:16 PM
 #2

Interesting, the way you molded the information and related it to Bitcoin makes it so obvious that the Bitcoin still has a lot of growth ahead just because of how much inflation the citizens will face in the coming year due to this printing of dollars. And to save yourself from Inflation, you simply by Bitcoin.

Total Crypto Market Cap is $2.64 Trillion which is 264 days of Printing for US Govt.

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March 05, 2024, 01:31:16 PM
 #3

Every fiat currency will continue to depreciate, Bitcoin to raise against them and the US dollar is not an exception.

Soon it will be crystal clear that someday 1sat = $1 and even exceeds this while The discussion about why individuals should invest in bitcoin would become why countries need to invest in Bitcoin.











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March 05, 2024, 02:05:51 PM
Merited by pooya87 (4)
 #4

I think the phrase “hedge against inflation” which is a strong attribute of bitcoin is seriously downplayed or say under rated. One thing have found is that on paper or public the dollar doesn’t looks like something that has problem but it’s devaluing seriously and this doesn’t only affects dollar alone, most of the world countries suffering economic crises are associated to the devaluation of the fiat currency. The bitcoin adoption rate of developing countries tells why it is just a matter of time before bitcoin is fully embraced as an alternative to fiat. Not a financial advice but regardless of the volatility I will definitely save up on bitcoin than hoard any fiat at the moment and this doesn’t even have to do with ROI.

Soon it will be crystal clear that someday 1sat = $1 and even exceeds this

I am ambitious about the growth or potential of bitcoin but a sat to a dollar (I mean current value though because dollar go devalue in future who knows) seems too ambitious and not something I am seeing in a near future. Because for this to happen it means we have a bitcoin at $100 million.

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March 05, 2024, 02:37:17 PM
Merited by pooya87 (4), vapourminer (1)
 #5

Printing is a favorite habit of central banks in all countries, they don't stop printing money.

About the USA, I am not surprised as their debt increase a lot since the pandemic.
See US debt clock. The debt number is $34,485,020,xxx,xxx and it is even bigger then total debt of China and Japan, at the second and third positions.

https://www.usdebtclock.org/world-debt-clock.html

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March 05, 2024, 04:21:37 PM
 #6

Printing is a favorite habit of central banks in all countries, they don't stop printing money.

About the USA, I am not surprised as their debt increase a lot since the pandemic.
See US debt clock. The debt number is $34,485,020,xxx,xxx and it is even bigger then total debt of China and Japan, at the second and third positions.

https://www.usdebtclock.org/world-debt-clock.html

That's the magic about the current money, it's an infinite element, govs can get into infinite debt and nothing will happen, no one will come to them and say "Hey! You have to pay your debt", and this is because the debt is not only in the government hands, the debt is in the civilians hands too... Each time a civilian gets a bank loan to buy a house or to buy a car, then this debt increases, and USA is the country with the biggest access to credit. Almost anyone can go to the bank and get a loan for anything.

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March 05, 2024, 05:56:04 PM
 #7

It's truly incredible how much money is printed, it's a truly frightening speed, and those who will pay the bill are the tax-paying citizens with all their assets being devalued over the years.

This kind of thing just goes to show us that we made the best possible choice in our lives: buying bitcoin

Great Topic and thank you for renewing my faith a little more.

.
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March 05, 2024, 06:30:55 PM
 #8

Does it matter? US still dominates the majority of the international trades. They are still the biggest millitary equipment supplier in the world. They are still ready to attack any country to acquire oil fields. US knows how to maintain the dominance.

So the US dollar is still the leader in the market. They have to still pay for NATO and United Nations. US has been printing astronomical amount of money since COVID. Did it affect their economy to any large extent?

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March 05, 2024, 06:39:50 PM
 #9

Every fiat currency will continue to depreciate, Bitcoin to raise against them and the US dollar is not an exception.

Soon it will be crystal clear that someday 1sat = $1 and even exceeds this while The discussion about why individuals should invest in bitcoin would become why countries need to invest in Bitcoin.
Fiat is not sustainable and it will finally have to face huge inflation spikes over the years until it's fully devalued. But, since this topic is mostly related to Bitcoin and US dollar so comparing other fiat won't be reliable. If US continues printing that much then surely in years US dollar will lose its value. But, Bitcoin's supply is limited and when US dollar and other fiat currencies continue losing value, Bitcoin will continue gaining value.

It's a bold statement to say that 1 Satoshi will be $1 because for that Bitcoin will have to reach $100M per coin which's unlikely to happen in a decade or two. However, I'm pretty sure we will see 1 Satoshi at $0.01-$0.05 in two decades.

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March 05, 2024, 08:07:40 PM
Merited by pooya87 (4), vapourminer (1)
 #10

This also highlights the importance of dedollarisation for the rest of the world, by the way.

Your thread just came timely. BRICS group are planning to create a payment system using blockchain to reduce the dependence on dollar for international transactions.

It was crystal clear since that BRICS has targeted to lower the dependence on dollar so as to reduce the power of the US but the problem has always been which currency should they make as a central currency. Any country currency picked will have given that country extra power.

Let me not go off topic, can someone tell BRICS that bitcoin is here to solve there problems and they don’t need to create anything again.

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March 05, 2024, 08:15:21 PM
 #11

Your headline is misleading. The U.S. debt is not the same as the USD money supply.

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March 06, 2024, 05:11:59 AM
Merited by pooya87 (2)
 #12

I knew this would happen when they removed the debt ceiling. They should of rose it a little and made cuts along the way to reduce it.

Problem is that this help is paid for by bonds and those bonds demand a 5% coupon right now, so they are getting deeper and deeper into this hole, especially when interest rates are still elevated. No idea if they will ever be able to reduce the steepening of the curve and make it more flat.
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March 06, 2024, 05:21:33 AM
Merited by pooya87 (2)
 #13

Let me not go off topic, can someone tell BRICS that bitcoin is here to solve there problems and they don’t need to create anything again.

Bitcoin may solve their problems(decrease of reliance on the USD), but let's not forget that they probably would still want some level of control over the currency or payment system; in which they wouldn't have any control with Bitcoin. That's just pretty much it.

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March 06, 2024, 05:30:17 AM
 #14

Let me not go off topic, can someone tell BRICS that bitcoin is here to solve there problems and they don’t need to create anything again.
They're going to make their own CBDC as per what the news have said about them making a new economy.

This alliance don't have their control over Bitcoin and that's why they might end up with the same thing as what US did, to print more of their money and have more supply. The thing is, to whom and which currency they're going to rely on.

From what I've read, it's gonna be with the Chinese Yuan (Renminbi).

They can still have control Bitcoin in terms of their market share but they need to hold vast of it compared to the institutions that are holding a lot of it so, the influence of theirs is there.

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March 06, 2024, 05:49:23 AM
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But those numbers don't mean anything to the US government right? Because those debts come from their own banks so even if they have that much debt, they won't mind not paying for it right? It's scary for the average US citizen though, they're definitely the one that's bearing the brunt of these problems, they're the ones that will feel the effects of inflation and at the same time will also be the one that would have to spend more money to buy stuff, it's really stupid of a lot of these people that they always do this kind of thing because they know that their circle and the big corporations that are funding their campaigns and war chests, I guess when the natural law is that you save yourself before everyone else, you're definitely going to see this kind of freakshow. Bitcoin really does spit on the face of fiat and banks with how much is printed compared to a block, puts you into a perspective that would lead you to be radical about your financial status.

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March 06, 2024, 07:35:25 AM
 #16

They're going to make their own CBDC as per what the news have said about them making a new economy.

This alliance don't have their control over Bitcoin and that's why they might end up with the same thing as what US did, to print more of their money and have more supply. The thing is, to whom and which currency they're going to rely on.
They can create their CBDCs that are helpful for them to control and trace their citizens' money flows better with their centralized CBDC blockchains. For citizens, it's not helpful and more like fearful as they will have more observing eyes and tools to trace their money flows.

CBDCs help those countries launch it by that mean but CBDCs can not help them to solve anything in their economy.

See progress of some nations toward CBDCs.
https://cbdctracker.org/
https://cbdctalks.com/
https://www.atlanticcouncil.org/cbdctracker/

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March 06, 2024, 07:57:30 AM
 #17

They can create their CBDCs that are helpful for them to control and trace their citizens' money flows better with their centralized CBDC blockchains. For citizens, it's not helpful and more like fearful as they will have more observing eyes and tools to trace their money flows.

CBDCs help those countries launch it by that mean but CBDCs can not help them to solve anything in their economy.
The main problem of macroeconomic is the government, not the citizens.

Can we, as a citizen prints money? nope, so there's no point for them to watch our money flows.

We're treated unfairly because they use one-way system instead of two-way system. In one-way system they can know everything we have, but we can't know what actually the government have. In two-way system, both of each other know everything and this would give the citizen to have a control over the government instead of agreeing with every action and decision that made by the government.

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March 06, 2024, 08:27:21 AM
Merited by vapourminer (1)
 #18

The main problem of macroeconomic is the government, not the citizens.
Governments can not use Bitcoin to solve their macroeconomic problems, they can not and Bitcoin can not.

Quote
Can we, as a citizen prints money? nope, so there's no point for them to watch our money flows.
Citizens can not print money, fiat currency, can not mint CBDCs. Governments and central banks can and by using CBDCs, with blockchains, they will have better tools to watch our money flows. For what? They do it for tax.

I believe they aim at tax on citizens because it will help them to gain more money from citizens.

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March 06, 2024, 10:14:56 AM
 #19

Huh, that's an interesting way to look at it. I agree that it's wonderful to have a limited supply and a regulated pace of creation of new coins that we have with Bitcoin than have a limitless fiat system. What's interesting, though, is that despite a lot of concerns, the US keeps getting away with all that printing. If you look at the USD annual inflation rate, it's one of the most stable fiat currencies and its inflation is usually below 5%. They're playing with fire, but they're playing well. So while Bitcoin is great for investment, the USD is an acceptable fiat currency and an acceptable reserve currency.

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March 06, 2024, 02:50:35 PM
Last edit: March 06, 2024, 03:14:21 PM by franky1
Merited by vapourminer (1)
 #20

firstly todays "debt" becomes tomorrows GDP

secondly the 34+trillion is not M0-M2 money in normal citizen hands circulation.
the banks/institutions and government need/want to raise the ceiling of money printing and push it into the background economy of the institutional circulation(to avoid citizen level hyper inflation)
because the top tiers of derivatives and institutional investment products are valuated at hundreds of trillions so needs to see there is enough "dollars printed" to even come close to enough reserves to cover payouts if those top tier investments were to ever sell out of their positions without causing a massive economic crash(pensioner boom reach retirement age and choose to take lump sum, but not enough money available to cover cash-out(risk))

yep they need to fill the pockets of top tier institutions reserves, to keep all the trillions of pension/private investments within fair market value for when people sell out/claim pensions
(average m0-m1 'savings/spending accounts) per US citizen ~$25k =$8.4trill)
(average m2-m3 'retirement/investments accounts) per US citizen ~$300k =$100trill)

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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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