Will Bitcoin become better

[aylabadia05]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What politicians say will always be different in their implementation once they are in office. Between words and practice are opposites.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

You have the answer. That is the habitat of politicians.
I can't see anything if it comes from politics because they are people who use the moment to attract sympathizers of pro-Bitcoin voters.

Will Bitcoin become better if any of these become possible?

All of these are just complementary factors. That means Bitcoin will still be the best in the future.
Bitcoin spot ETF is one of the results of a proof that Bitcoin is the best even before it was approved, Bitcoin has not changed, aka it is still the best.

[Belarge]

You have got a point, actually. Maybe we are too focused on bitcoin being acknowledged by governments and being legitimize that we are forgetting its main purpose and that is to completely separate itself from the government or other institutions. I don’t think it will become centralized in nature but surely institutions will get involved which is what we don’t want anymore as crypto enthusiasts.

The bullish season is definitely the season for bitcoin to pump. The government placed restrictions on crypto, they're trying to eradicates scam but we should also know that it's not easy to entrapped our ends. Bitcoin will trigger more bullish run for everyone but we should be careful not to get involved with projects that has do with scams. I know we're trying our best from our end but we should also craved for improvement and become a better status of ourselves in the system.

[lizarder]

The bullish season is definitely the season for bitcoin to pump. The government placed restrictions on crypto, they're trying to eradicates scam but we should also know that it's not easy to entrapped our ends. Bitcoin will trigger more bullish run for everyone but we should be careful not to get involved with projects that has do with scams. I know we're trying our best from our end but we should also craved for improvement and become a better status of ourselves in the system.  

There is no connection between fraud and bitcoin and that must be straightened out first because fraud is only affiliated with individuals when they run. If the government restricts bitcoin because of fraud then fiat currency must be the main thing to be eradicated because before bitcoin existed fiat currency had played a fairly important role in human life as a means of transaction. There are even many frauds involving fiat currency and much worse money laundering everywhere carried out by greedy people.

Separate fraud from bitcoin or fiat currency because it is affiliated with criminal acts carried out by a group of irresponsible people. When we who understand bitcoin continue to say the word fraud, this will actually have a wrong impact on beginners who read it. The system that is running is already so perfect in Bitcoin and will continue to increase from the initial process until now.

[mirakal]

Bitcoin has become better without the influence of any parties or else, this will ruin the purpose of its creation. People love to see how it works today while it was not yet controlled by any known personalities and any changes that may happen will also affect the future of cryptocurrency in general. Therefore, if we want to look at Bitcoin better, then we should help to keep it decentralized in order to maximize its features. Or else, we are putting its end and no benefits gains.

Politicians are also businessmen and they want to control Bitcoin and play the market for bigger benefits. Very unfortunate and that is why some of them hate Bitcoin because they can't put it in their hands.

[Abiky]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

Bitcoin is already better than traditional Fiat currencies backed by corrupt banks and governments. It's just that people are using it as a store of value instead of a currency. Backing the USD with BTC is a possibility. But the US government won't do it (particularly the FED), especially when they will lose the ability to print money out of thin air. They can't manipulate the economy with BTC the same way they do with Fiat. I think that's the reason why they've moved away from the "Gold Standard" a long time ago.

Let's face it. Bitcoin is and will always be an alternative to Fiat. Replacing the current system is only a pipe dream. Will it get better? Yes. But that depends on developers' (and the community's) efforts to keep it the best sound money in the world. Hopefully, on-chain fees will decline with each network upgrade. As long as decentralization is prioritized, nothing else matters.

[Jaycoinz]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

Bitcoin is already better than traditional Fiat currencies backed by corrupt banks and governments. It's just that people are using it as a store of value instead of a currency. Backing the USD with BTC is a possibility. But the US government won't do it (particularly the FED), especially when they will lose the ability to print money out of thin air. They can't manipulate the economy with BTC the same way they do with Fiat. I think that's the reason why they've moved away from the "Gold Standard" a long time ago.

Let's face it. Bitcoin is and will always be an alternative to Fiat. Replacing the current system is only a pipe dream. Will it get better? Yes. But that depends on developers' (and the community's) efforts to keep it the best sound money in the world. Hopefully, on-chain fees will decline with each network upgrade. As long as decentralization is prioritized, nothing else matters.

You are quick to write out the option but I would like you to know that there is something called change and evolution too as this has been the core reason for so many changes and development in the finance world even the Bitcoin we know today is as a result of evolution so I still it very much possible for any changes to affect or new updated to be added to Bitcoin .

[South Park]

Bitcoin is already better than traditional Fiat currencies backed by corrupt banks and governments. It's just that people are using it as a store of value instead of a currency. Backing the USD with BTC is a possibility. But the US government won't do it (particularly the FED), especially when they will lose the ability to print money out of thin air. They can't manipulate the economy with BTC the same way they do with Fiat. I think that's the reason why they've moved away from the "Gold Standard" a long time ago.

Let's face it. Bitcoin is and will always be an alternative to Fiat. Replacing the current system is only a pipe dream. Will it get better? Yes. But that depends on developers' (and the community's) efforts to keep it the best sound money in the world. Hopefully, on-chain fees will decline with each network upgrade. As long as decentralization is prioritized, nothing else matters.

And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time.

[lalabotax]

And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time.

Yes, Bitcoin will really work, and will function properly as a currency for payment. IN some countries where it is allowed, it is a very suitable alternative to fiat. It's just that, in various other countries, it is not allowed, in the sense that Bitcoin cannot be used as a means of payment and this is against the rules of a country. So, like it or not, so far, for now, using Bitcoin is only limited as a commodity asset for trading or investment. so it is not intended as an alternative to fiat for payments. So, really, the influence of a country's natural regulations is very high for the development of Bitcoin, like it or not, like it or not, unfortunately they are still quite able to control this.

[justdimin]

There is no connection between fraud and bitcoin and that must be straightened out first because fraud is only affiliated with individuals when they run. If the government restricts bitcoin because of fraud then fiat currency must be the main thing to be eradicated because before bitcoin existed fiat currency had played a fairly important role in human life as a means of transaction. There are even many frauds involving fiat currency and much worse money laundering everywhere carried out by greedy people.

Separate fraud from bitcoin or fiat currency because it is affiliated with criminal acts carried out by a group of irresponsible people. When we who understand bitcoin continue to say the word fraud, this will actually have a wrong impact on beginners who read it. The system that is running is already so perfect in Bitcoin and will continue to increase from the initial process until now.

Yes, bitcoin isn't used for fraud because it's bitcoin, everything is used for fraud, it's like people act as if before bitcoin nobody did money laundering or scamming or whatever illegal thing. The worst one is that people talk about how bitcoin can be used for drug purchases, like somehow people didn't use fiat before bitcoin was created anyway. Criminals are criminals, you do not have to compare bitcoin to anything at all, which means that we are going to end up with something much better.

I believe that the best thing to do would be just avoiding the same topic in the end. We should probably consider that we are going to end up with something that will be totally unrelated, people will use whatever they can if they want to do it.

[Z-tight]

Politicians are also businessmen and they want to control Bitcoin and play the market for bigger benefits. Very unfortunate and that is why some of them hate Bitcoin because they can't put it in their hands.

I don't even think politicians want to control BTC, they already know that is not possible, so they simply want to regulate it now and also stop people from using it privately, that's why they are attacking BTC privacy solutions. BTC is decentralized and its improvements is not in the hand of governments or in any central authority, but in the BTC community.

[Abiky]

And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time.

People aren't buying things with Bitcoin either. They're treating it as a store of value just like Gold. The high network fees and market volatility makes it difficult to use BTC like digital cash. Not even the Lightning Network helps.

While I'm confident Bitcoin will improve over time, I wouldn't expect it to replace Fiat for day-to-day payments anytime soon. Hopefully, Bitcoin stays decentralized for generations.

[Marvell1]

And that is all what we need, before bitcoin existed there was no real alternative to the fiat system, and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold? Satoshi changed the game forever by inventing bitcoin, so as long as we can buy what we want without the use of fiat then I consider that bitcoin is being successful, regardless of how fiat may be doing at the time.

People aren't buying things with Bitcoin either. They're treating it as a store of value just like Gold. The high network fees and market volatility makes it difficult to use BTC like digital cash. Not even the Lightning Network helps.

While I'm confident Bitcoin will improve over time, I wouldn't expect it to replace Fiat for day-to-day payments anytime soon. Hopefully, Bitcoin stays decentralized for generations.

Even if bitcoin solves the transaction fee problem and becomes stable, it will never replace fiat for day-to-day payments. The government will never let that happen until they find a way to control it. But if governments find a way to control bitcoin and it becomes centralized, will it still be attractive? So I don't believe that bitcoin will replace fiat currency, and I also don't want bitcoin to become centralized.

I'm happy with how things are going, bitcoin is a highly volatile investment because I can take advantage of that to make a profit. In particular, bitcoin's decentralization will partly help me avoid too strict control from the government.

[Uhwuchukwu53]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

This is not possible because bitcoin is not centralized or controlled by any central authorities. Bitcoin price is derived from demand and supply and nothing more than that. That is why no central authority have the power to control bitcoin price and the reason for its huge adoption as it is totally different from fiat.

Yes the Bitcoin is not centralized , but some policy of government can slow down the adoption in many places which the policy that kick against is made just as it's here my country where the government is fighting all exchange even bound the crypto though it did not stop the movement of change it adoption but slow it down baids in my perception on how it would have gone beyond this stage here in my nation as some who lack understanding of it is faced with some phobia of not knowing what next may be the outcome blackout on the process of investing or holding mostly this aspect they are arresting the exchange official and stopping means to exchange the crypto by holder.

[Taskford]

Politicians are also businessmen and they want to control Bitcoin and play the market for bigger benefits. Very unfortunate and that is why some of them hate Bitcoin because they can't put it in their hands.

I don't even think politicians want to control BTC, they already know that is not possible, so they simply want to regulate it now and also stop people from using it privately, that's why they are attacking BTC privacy solutions. BTC is decentralized and its improvements is not in the hand of governments or in any central authority, but in the BTC community.

Maybe not since they have something want to push aside from bitcoin. We know that they are trying to introduce CBDC to pursue their interest since maybe they want to dominate on the financial system and make everything beyond on their control. That's why they do that action where they require to have this KYC feature on each crypto platform since they want to know the real numbers of people using bitcoin.

That's why hopefully that they don't implement a total ban on bitcoin so that we can still use it since they have all the authority and decide what they want to accept on their country.

So I guess for this issues we should see what government actions will be made in future so hopefully there's no bad news will happen and there mind will shift into something beneficial to us bitcoin users.

[Gladitorcomeback]

You have got a point, actually. Maybe we are too focused on bitcoin being acknowledged by governments and being legitimize that we are forgetting its main purpose and that is to completely separate itself from the government or other institutions. I don’t think it will become centralized in nature but surely institutions will get involved which is what we don’t want anymore as crypto enthusiasts.

If we want mainstream adoption, like shops and markets accepting Bitcoin as a payment method and it being legal to be traded and used around our countries when we need to understand that regulations will follow, we can't have mainstream adoption without regulations and having authorities or institutions involved.

Even if we don't want mainstream adoption, governments and central authorities will still keep interfering as long as people are using cryptocurrencies because they can't let them use something that they don't have any control over, and they will always try to have at least some control over what people are using even if they can't control the network, they will keep tracking transactions and stuff.

[Renampun]

Wouldn't being backed by anything make bitcoin a centralized currency?

You have got a point, actually. Maybe we are too focused on bitcoin being acknowledged by governments and being legitimize that we are forgetting its main purpose and that is to completely separate itself from the government or other institutions. I don’t think it will become centralized in nature but surely institutions will get involved which is what we don’t want anymore as crypto enthusiasts.

However, Bitcoin will not be able to be controlled by the government, no matter how big their efforts are because Bitcoin is a decentralized asset, Bitcoin will always be that, Satoshi is a pseudonymous, so he will not be able to be found and even intimidated into handing over the cryptographic keys of bitcoins. Bitcoin will always be a decentralized asset forever, it cannot be changed.

[Abiky]

Even if bitcoin solves the transaction fee problem and becomes stable, it will never replace fiat for day-to-day payments. The government will never let that happen until they find a way to control it. But if governments find a way to control bitcoin and it becomes centralized, will it still be attractive? So I don't believe that bitcoin will replace fiat currency, and I also don't want bitcoin to become centralized.

I'm happy with how things are going, bitcoin is a highly volatile investment because I can take advantage of that to make a profit. In particular, bitcoin's decentralization will partly help me avoid too strict control from the government.

Of course governments won't let that happen. Otherwise, they would be giving the power back to the people. It has always been about control from the very beginning. Why do you think Fiat was created in the first place? With central banks in play, governments will be able to do whatever they want with the economy. And no one will be able to stop them. BTC by itself can't be stopped either, so it will co-exist with CBDCs for generations. That's assuming Bitcoin stays decentralized forever.

I sure hope developers improve Bitcoin's on-chain transaction capacity to help keep fees at the minimum. The Ordinals craze will stifle its ability to be used as digital cash. The future is unpredictable, so we can only hope for the best.

[Dzwaafu11]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

When you bring something like this and include the source link so we can believe what you are saying, since many of us haven't heard about it, I doubt if this is a made-up story.

However, this is going to be impossible, man. I don't think it will happen because Bitcoin is decentralized, not centrally controlled by anyone. and because from the day it was created, it was not controlled by anybody. Even now, it will not be done that way. Also, remember that US dollars are a centrally controlled currency that is controlled by the US government.

What are the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of?

Will Bitcoin become better if any of these become possible?

This will not be going to give any advantage to bitcoin but disadvantages because they will disturb the investors by maybe paying tax and other things that were not there before. However, bitcoin is already better as it is now. We just hope for more betterment of bitcoin, and nothing more than that. If any government tries to put their hand in bitcoin, I don't think they will be able to accomplish that because that is not how it was created. I think they can just leave the currency the way it is because regardless of their hatred or something, they can control it.

[SickDayIn]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

I am not sure what you are getting at here or how you formed this idea, but US dollars will never be backed by Bitcoin.

Remember that USD is the world reserve currency, and many countries outside of the USA use USD to transact.

The total supply of USD is $25 trillion. Let's round it down to $21 trillion to make math easier. That would make, with a supply of 21 million BTC, that each coin is worth 1 million coin each. That is, taking into account the US government would need to buy EVERY single coin. So in demand alone, the price of 1 btc would be way more than 1 million.

[btc78]

The total supply of USD is $25 trillion.

First of all there is no ‘total supply’ of usd as it is not limited. There are also categories of which money we’re talking about. M0 is all the usd in its most liquid form: cash. M1 includes money that are used in exchanges such deposits and checking accounts. M2 includes M1 with the addition of savings and time deposits. M3 and M4 are considered broader categories of money that include large time frames and banks.

It’s difficult to determine how much usd really there is but currently there are only 2 Trillion USD in circulation.

Let's round it down to $21 trillion to make math easier. That would make, with a supply of 21 million BTC, that each coin is worth 1 million coin each.

Bitcoin’s value will not be determined by usd’s supply even if it was used to back up usd. Both fiat and crypto have fluctuating prices despite crypto being more volatile.