Will Bitcoin become better

[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.

[kotajikikox]

and while some may claim that gold was always an alternative, when was the last time you saw someone buying something with gold?

Gold is a rare asset that no one really is very willing to use it as a mean of exchange and instead prompts to hold it. This is what we are seeing happen to bitcoin but the difference is that bitcoin can still be used as a mean of exchange.

Satoshi changed the game forever by inventing bitcoin,

Gold is valuable but bitcoin's accessibility and decentralization are one of the things that give bitcoin the edge compared to gold. Who do you know carries gold around? and who do you know carries bitcoin around?

[Sebas.tian]

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.

If anyone told you that Bitcoin will not going to be better, just point out at where Bitcoin is coming from and where it is right now which are significance of where it will going to be in the nearest future to allow investors to experience massive income from their investment. I don't think, politicians will have such opportunity to control the price of Bitcoin than to use all those words to play politics with their citizens to achieve their goal, because Bitcoin will still remain decentralized currency that came to stay for a long period of time. But it will be difficult for Bitcoin not to get better and better again, because if you look the massive population around Bitcoin investment, you will know that the population will continue increasing to make Bitcoin more popular than any other cryptocurrencies in the market.

[Obari]

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?

lol
Politicians are very big liars and that’s why I personally don’t take anything they say to heart because it seems they all forget their promises as soon as they get elected into office and initially I thought it was just my country affected by this actions of the elected representatives of government but I’ve also come to realized that, the almost everywhere in the world is also passing through similar cases.

Op I don’t know if this your post is more political but personally it doesn’t interest me to discuss politics that much but in most cases where you see me involving in political talks the it’s simply because I don’t have a choice but to engage in the takes.

It’s not right to hold any word from the politicians, until it is actualized and I don’t really know if the usdt will later drop against dollar but I’m sure it will take a lot of time.

I think bitcoin will gain more popularity and more investors if the United state dollar is backed by bitcoin because it will send a lot of positive meanings to potential investors and give bitcoin more global recognition.

[Bitcoin_people]

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Will Bitcoin become better if any of these become possible?

As we know Bitcoin is not controlled by any central authority and is not centralized. The demand and supply of Bitcoin is not controlled by anyone so no authority can control the price of Bitcoin. In any case, the point you've raised certainly won't have much of an impact on Bitcoin's price. However, the market may be slightly dumping for a temporary period, but later it will rise again.

[Gladitorcomeback]

Gold is valuable but bitcoin's accessibility and decentralization are one of the things that give bitcoin the edge compared to gold. Who do you know carries gold around? and who do you know carries bitcoin around?

I think that shouldn't be the metric for us to compare Bitcoin with gold. It's true that we can't carry gold around like Bitcoin because Bitcoin is digital and it is present in our wallet while gold (if we are talking about physical gold) can't be taken everywhere. However, we can also buy digital gold, some merchants and systems allow you to buy digital gold and you will have them in your wallet at all times, you can sell them whenever you want just like Bitcoin, and get cash readily available.

If we look at both from an investment perspective, the biggest advantage of Bitcoin over gold is that it provides investment flexibility which means that a person doesn't need to have a large amount of money to start buying Bitcoin but as low as $10 is enough to get started whereas for gold, you need to buy the minimum unit and that will cost way more than $10.

[itorai]

~snip~
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.

You are right, that Bitcoin has brought about significant changes in the financial world by introducing a decentralized and digital alternative to the traditional fiat system. But I have noticed that this is just an exchange and both parties agree with what they are exchanging, whether it is gold or something similar, if both parties agree then it is valid.

[Mame89]

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Will Bitcoin become better if any of these become possible?

As we know Bitcoin is not controlled by any central authority and is not centralized. The demand and supply of Bitcoin is not controlled by anyone so no authority can control the price of Bitcoin. In any case, the point you've raised certainly won't have much of an impact on Bitcoin's price. However, the market may be slightly dumping for a temporary period, but later it will rise again.

Correct. The important point is that Bitcoin is not controlled by anyone and is not centralized, so Bitcoin will continue to be a scarce asset in the future, although many people want to prevent it from any authority, Bitcoin will still be better in the future. Bitcoin is currently only a decade old and has already had a huge impact on investors and the community. In my opinion, Bitcoin still has a long way to go to become an investment asset or hedge against inflation.

Even if what the OP said will have an impact on Bitcoin, it is only temporary, especially now that Bitcoin has passed the halving period, of course there are many dynamics going on. but believe me, Bitcoin will be much better in the future, we just need to be patient until the time comes, Bitcoin will make new history in the market.

[uneng]

The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Keep in mind politicians are the reflex in the mirror of the citizens from their respective countries. Politicians are to be blamed, but if they are able to have so much influence and reach the power positions they are currently in, you have to blame some other people as well...

Bitcoin won't become better because it's endorsed by politicians or governments. Bitcoins exists and works independently of political propagandas, and it has been always like this since the beginning. Probably that is why it has been working so nicely so far, and I hope it still continue working this for a long time yet!

The impact of politicians over Bitcoin, as I see, is the fact they have influence over a lot of people's actions. If they tell people to behave somehow, they immediately follow the orders. Then we could speculate that if politicians ordered people to use Bitcoin, they would adopt it on the same moment, what would have effect over Bitcoin's demand and price positively. The question is, why would they do this? It doesn't seem to benefit them in anyways.

[Franctoshi]

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?

Friendly policies on Bitcoin will definitely attract more investors and thereby increase adoption ,well no one can tell what politicians can do and until they get into office, but I believe Trump administration will be much more friendly with Bitcoin than that of joe Biden administration because I don't think Trump will totally full all the crypto enthusiasts who will support him after election, but I can tell he might not implement everything he has said in his campaign but likely of this, and his economic policies won't hurt the cryptocurrencies industry Because he's Business minded person.

[Mr_Brilliant$]

It is the hope of every Bitcoin investors that Bitcoin increases and gets better. I believe the government who are still fighting against Bitcoin will one day come to realisation that Bitcoin is a good currency and not a scam. Many critics are now Bitcoin investors, but the question is, what must have triggered them to change minds? The same reason might been seen by those government and they'll change too.

[fauzan Ichsan]

~~

Will Bitcoin become better if any of these become possible?

As we know Bitcoin is not controlled by any central authority and is not centralized. The demand and supply of Bitcoin is not controlled by anyone so no authority can control the price of Bitcoin. In any case, the point you've raised certainly won't have much of an impact on Bitcoin's price. However, the market may be slightly dumping for a temporary period, but later it will rise again.

Correct. The important point is that Bitcoin is not controlled by anyone and is not centralized, so Bitcoin will continue to be a scarce asset in the future, although many people want to prevent it from any authority, Bitcoin will still be better in the future. Bitcoin is currently only a decade old and has already had a huge impact on investors and the community. In my opinion, Bitcoin still has a long way to go to become an investment asset or hedge against inflation.

Even if what the OP said will have an impact on Bitcoin, it is only temporary, especially now that Bitcoin has passed the halving period, of course there are many dynamics going on. but believe me, Bitcoin will be much better in the future, we just need to be patient until the time comes, Bitcoin will make new history in the market.

After we know the future predictions for Bitcoin, what will we decide, whether we will participate to make a profit together or will we just be spectators and see other people's success. but the most important thing is our knowledge about bitcoin, before deciding to join, because we make sure this is for the long term, not a machine to make money in a short time, and if the time comes sooner then that is a bonus for us

[Vinaa77]

It is the hope of every Bitcoin investors that Bitcoin increases and gets better. I believe the government who are still fighting against Bitcoin will one day come to realisation that Bitcoin is a good currency and not a scam. Many critics are now Bitcoin investors, but the question is, what must have triggered them to change minds? The same reason might been seen by those government and they'll change too.

After we see the development of Bitcoin to date, it will certainly make people who are new to and have done research about BItcoin will really believe in Bitcoin and will also try to make Bitcoin an asset that they will include in their investment list to get the benefits of holding it. Bitcoin, for the government that is still against Bitcoin, I think they don't want to see people prefer to invest in Bitcoin with the risks they will face or there are other things that the government has not explained in detail.

Those who previously criticized Bitcoin and now prefer to invest in Bitcoin, of course they have done in-depth research on investing in Bitcoin and not just listened to what other people said about Bitcoin so they dare to say what they heard from other people but after they understanding it will certainly turn around and instead choose to invest.

[amihada]

The best coin is Bitcoin, ups and downs are normal, don't feel too much when Bitcoin's price goes down, you have to have confidence that Bitcoin will recover, so whatever happens in the crypto world, don't be easily discouraged when it goes down.

[adpinbr]

Of course bitcoin will become so much better if any of this come in place, already bitcoin is better and it will be much better once such thing happens and a lot of more nation will accept bitcoin more and more, once I here about some new in bitcoin i always feel so much interested because I understand that bitcoin is the future currency that can become the leader of any digital currency, so therefore bitcoin can always grow more and more higher in the digital world any positive and interesting news concerning cryptocurrency it increases the good news more in bitcoin

[Rockstarguy]

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?

It seems the president doesn't even know what Bitcoin is, how can the US Dollar back Bitcoin which is a decentralized currency.  Their is no meaning in all these, it is just a mere talk trying to gain people's interest and I'm not surprised because this is the nature of politicians. No needs for the president to talk too much, the only impact he can offer to bitcoin is mass adoption of bitcoin if truly he has bitcoin in mind.

One thing I know is that bitcoin will always grow even without Donald trump, bitcoin has gone through difficult times but still it still remains what it is. Donald trump can't make bitcoin better because bitcoin is not fiat or a centralized currency. Trump understands that bitcoin has gained so much users, I think he just trying to get favour from bitcoin users.

[$weetne$$]

Friendly policies on Bitcoin will definitely attract more investors and thereby increase adoption ,well no one can tell what politicians can do and until they get into office, but I believe Trump administration will be much more friendly with Bitcoin than that of joe Biden administration.

I too think this as well because trumps has alot of Bitcoin friends like Elon musk and they will advise him well. Trump is going to be more friendly with Bitcoin as he is a business man and understands how to run the affairs that will improve the business of America. The governments can welcome Bitcoin and tax it for the benefit of the country. Bitcoin is going to be better because Bitcoin is good to rise in price and when it does that it will attract more investors. The more investors come in to Bitcoin, the more Bitcoin will have many great mind investing in it that can contribute their Idea on how to make Bitcoin become a better coin. If we have less investors there will not be more talk because everybody will be comfortable with anything that is happening to Bitcoin but as we have more people in Bitcoin, they will be concerned on how to make Bitcoin great for everybody to be able to use them.

[Marvell1]

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.

We need the reality that bitcoin replacing fiat currency is absolutely impossible, governments will never let that happen. Yes, I prefer the scenario where bitcoin will exist side by side with CBDC or fiat currencies rather than compete with each other and make governments hate bitcoin more.

Regarding transaction fees, I really feel like there is no hope because so far, the developers have remained silent and there is no solution to that problem. Many people think that sooner or later, ORDI or RUNE will disappear and everything will soon return to normal. But I don't believe in that because when BRC20 dies there will also be another version created and they will never stop, transaction fees will never be fixed.

[Abiky]

It is the hope of every Bitcoin investors that Bitcoin increases and gets better. I believe the government who are still fighting against Bitcoin will one day come to realisation that Bitcoin is a good currency and not a scam. Many critics are now Bitcoin investors, but the question is, what must have triggered them to change minds? The same reason might been seen by those government and they'll change too.

Bitcoin will improve as developers continue to innovate on it. But the beloved cryptocurrency will never reach a point where it will replace existing Fiat currencies. Governments simply won't allow this to happen.

I'm hoping BTC fees decline with subsequent network upgrades (unless the Ordinals craze spirals out of control). The LN is NOT a long-term solution to Bitcoin's problems. Current market volatility, slow confirmation times, and high fees are what's limiting Bitcoin's mainstream adoption. Unless these issues are solved, BTC will remain a store of value forever. Is this what we want?