US Dollar vs Bitcoin

[fruktik]

Isn't China the world's second-largest economy? And what about Russia? It is one of the largest oil and gas exporters in the world. These two countries alone make BRICS a "force to reckon with". I know they're still behind the US in terms of economy and military, but we all gotta start somewhere. By slowly removing dependence on the USD, BRICS can begin its journey towards building a better future. US hegemony can't last forever. If the USD goes down, another currency will replace it.

As for Bitcoin, it will continue to grow in demand for as long as its considered the next store of value. It will never replace Fiat because of the way it was designed (decentralized). But it could remain an alternative for those seeking true freedom and privacy. Hopefully, the US and other countries add BTC to their reserves for even higher prices in the long term. Just my two sats.

In the near future, due to sanctions, the Russian Federation may lose a huge market for oil and gas exports. I am increasingly of the opinion that this country will become exactly the same as Cuba. There are already all the prerequisites for this. The economy is on the verge of a grandiose collapse, from which it will not be able to get out into positive dynamics for many years. Therefore, BRICS will soon go down in history and no one will remember this union. So what if the United States is the hegemon in the world? What's wrong with that? Why such a negative attitude towards this? Personally, I don't give a damn about this.

[Iranus]

In the near future, due to sanctions, the Russian Federation may lose a huge market for oil and gas exports. I am increasingly of the opinion that this country will become exactly the same as Cuba. There are already all the prerequisites for this. The economy is on the verge of a grandiose collapse, from which it will not be able to get out into positive dynamics for many years. Therefore, BRICS will soon go down in history and no one will remember this union. So what if the United States is the hegemon in the world? What's wrong with that? Why such a negative attitude towards this? Personally, I don't give a damn about this.

Comparing the world's 4th largest economy (Russia) with the 62nd largest economy (Cuba) is a silly and lame comparison. A country with almost the largest area in the world, is the world's 3rd largest oil and gas supplier as well as the country with the most powerful army in the world. Not to mention, despite a series of bans over the past 3 years from the US and EU, Russia still surpassed Japan to become the 4th largest economy in the world. How can they be so easily exhausted and collapsed just because of US ban? Do you really know what you are talking about?

There is nothing wrong with the United States being the world's leading power, but we should be realistic that nothing lasts forever. The United States is not the only superpower in the world, they may have defeated other countries to become a superpower, the same can happen to them.

[fruktik]

Comparing the world's 4th largest economy (Russia) with the 62nd largest economy (Cuba) is a silly and lame comparison. A country with almost the largest area in the world, is the world's 3rd largest oil and gas supplier as well as the country with the most powerful army in the world. Not to mention, despite a series of bans over the past 3 years from the US and EU, Russia still surpassed Japan to become the 4th largest economy in the world. How can they be so easily exhausted and collapsed just because of US ban? Do you really know what you are talking about?

There is nothing wrong with the United States being the world's leading power, but we should be realistic that nothing lasts forever. The United States is not the only superpower in the world, they may have defeated other countries to become a superpower, the same can happen to them.

Yes, I understand perfectly well what I am writing about. I have lived in the Russian Federation all my life and have been observing what is happening in this country for many years. The economic situation is rapidly deteriorating due to sanctions. There is no longer free access to oil and gas exports. All routes are blocked. Even China recently refused to accept oil tankers in its port because it was afraid of sanctions from the United States. All this has led to the fact that the budget deficit is only increasing every day. Economists write about the same thing. They all came to the same conclusion: the Russian Federation is on the brink of a catastrophe from which it is impossible to escape.

[Iranus]

~snip

Yes, I understand perfectly well what I am writing about. I have lived in the Russian Federation all my life and have been observing what is happening in this country for many years. The economic situation is rapidly deteriorating due to sanctions. There is no longer free access to oil and gas exports. All routes are blocked. Even China recently refused to accept oil tankers in its port because it was afraid of sanctions from the United States. All this has led to the fact that the budget deficit is only increasing every day. Economists write about the same thing. They all came to the same conclusion: the Russian Federation is on the brink of a catastrophe from which it is impossible to escape.

Any country that engages in a multi-year war and is subject to sanctions will find it difficult to escape economic decline. But that does not mean that all have the same disastrous outcome because the mindset of each leader is different, and the resources, economic potential and endurance of each country are also completely different. That is also the reason why for many years, European experts have continuously predicted that the Russian economy will soon collapse. But you see, despite all the hardships, they still stood firm and surpassed Japan to become the 4th largest economy in the world.

Politics is more complicated than what we see and think. Russia and China have common goals and enemies, and that is why BRICS was born. I do not deny that the United States is a superpower and they rule this world but they do not have the right to decide the future of other countries.

Don't overestimate the United States and underestimate other countries, our world is developing very well and progress is being shared equally among all countries, not just concentrated in the United States.

[DrBeer]

~snip

Yes, I understand perfectly well what I am writing about. I have lived in the Russian Federation all my life and have been observing what is happening in this country for many years. The economic situation is rapidly deteriorating due to sanctions. There is no longer free access to oil and gas exports. All routes are blocked. Even China recently refused to accept oil tankers in its port because it was afraid of sanctions from the United States. All this has led to the fact that the budget deficit is only increasing every day. Economists write about the same thing. They all came to the same conclusion: the Russian Federation is on the brink of a catastrophe from which it is impossible to escape.

Any country that engages in a multi-year war and is subject to sanctions will find it difficult to escape economic decline. But that does not mean that all have the same disastrous outcome because the mindset of each leader is different, and the resources, economic potential and endurance of each country are also completely different. That is also the reason why for many years, European experts have continuously predicted that the Russian economy will soon collapse. But you see, despite all the hardships, they still stood firm and surpassed Japan to become the 4th largest economy in the world.

Politics is more complicated than what we see and think. Russia and China have common goals and enemies, and that is why BRICS was born. I do not deny that the United States is a superpower and they rule this world but they do not have the right to decide the future of other countries.

Don't overestimate the United States and underestimate other countries, our world is developing very well and progress is being shared equally among all countries, not just concentrated in the United States.

Tell me please - and by what indicator has Russia's economy become 4th in the world ?
According to international analytics, Russia's share in the world GDP is about 2 percent. These are the figures for 2023, provided that in 2024 the situation has deteriorated a lot....
At the same time you must remember 2 important factors:
1. Real revenues from the oil and gas sector are only declared, but Russia does not receive the declared amounts of funds from the sale of oil and gas. The reason is banal and easily verifiable:
- The main buyers of oil are India and China
- Payment in yuan and rupees, without the ability to convert into the dollar, which is critically needed by Russia, and without the ability to freely use funds in yuan and rupees, due to restrictions imposed by India and the United States.
2. russia's economy in 2023-2024 (and it will only get worse) is an economy of WAR, when the gross product - does not work for the economy, and after a short time turns into smoke, burnt metal, and useless debris. I.e. the numerical index is high, but there is no real benefit from it - only depletion of the economy.
3. Putin's words (international criminal), everything is good, but the indicators of reduction of social programs, investments in science, economy, impoverishment and borrowing of the population, says the opposite

[Abiky]

In the near future, due to sanctions, the Russian Federation may lose a huge market for oil and gas exports. I am increasingly of the opinion that this country will become exactly the same as Cuba. There are already all the prerequisites for this. The economy is on the verge of a grandiose collapse, from which it will not be able to get out into positive dynamics for many years. Therefore, BRICS will soon go down in history and no one will remember this union. So what if the United States is the hegemon in the world? What's wrong with that? Why such a negative attitude towards this? Personally, I don't give a damn about this.

You think? What if it's the other way around? Meaning, BRICS stays afloat while the US continues to sink all the way down the drain. Trump promises to "Make America Great Again", but the proposed tariffs might backfire in the long run. Especially the 100% tariffs that will be imposed to countries who try to avoid the US Dollar. Bitcoin will do fine regardless of what happens with the US in the future.

By the time the USD collapses, BTC's price will be tied to another currency. So long as Bitcoin stays decentralized, nothing should be able to stop it. I'm hoping BTC renders Fiat currencies obsolete, as world countries adopt it as legal tender. Would you imagine yourself living in a "hyperbitcoinized" world? All of our economic problems would be solved.

[Mate2237]

I don't think that Trump's promise on Bitcoin support is going to affects the United States Dollar in any way because the fact is Bitcoin and the Dollar are operating in different sphere because Bitcoin is an online money which can be used in your daily transactions so the probability of Bitcoin affecting the dollar will be low because as the president of the United States Trump's first work is to protect the national interest which includes the dollar so Trump will not do anything that will affects the dollar

The fact of the matter is that the dollar is one currency that can not be affected just like that by external factors because 90% of international trade is mediated via the dollar trump only saw the potential that Bitcoin holds especially to the American economy and since America is missing out on the benefits of investing in Bitcoin trump promised if elected president to tap into the potential that Bitcoin holds and let's the american public into the Bitcoins world

[Abiky]

I don't think that Trump's promise on Bitcoin support is going to affects the United States Dollar in any way because the fact is Bitcoin and the Dollar are operating in different sphere because Bitcoin is an online money which can be used in your daily transactions so the probability of Bitcoin affecting the dollar will be low because as the president of the United States Trump's first work is to protect the national interest which includes the dollar so Trump will not do anything that will affects the dollar

The fact of the matter is that the dollar is one currency that can not be affected just like that by external factors because 90% of international trade is mediated via the dollar trump only saw the potential that Bitcoin holds especially to the American economy and since America is missing out on the benefits of investing in Bitcoin trump promised if elected president to tap into the potential that Bitcoin holds and let's the american public into the Bitcoins world

A decentralized cryptocurrency simply can't beat a centralized one. They're different from one another. What will happen with the US Dollar is that it will turn itself into a CBDC in the long run. More power/control for the government + central bank, and less freedom/privacy for the people. Luckily, Bitcoin will remain unaffected thanks to the way it was designed.

I believe more people will get into Bitcoin as they look for an escape route from CBDCs. BTC will become more valuable over time, while Fiat currencies like the USD and EUR will lose their purchasing power (inflation). I'd forget about Fiat and keep growing my stack of BTC. If you do this, you'll be on a guaranteed path towards wealth. Just my two sats.

[WillyAp]

What will happen with the US Dollar is that it will turn itself into a CBDC in the long run. More power/control for the government + central bank, and less freedom/privacy for the people. Luckily, Bitcoin will remain unaffected thanks to the way it was designed.

Won't happen. Too many people live on cash and cash alone.
https://www.paymentsdive.com/news/three-us-cash-trends-persist-fed-report-says/623789/

Unbanked people are around 55 million in the US alone. Now the undocumented have even a higher penetration of unbanked people.
https://en.wikipedia.org/wiki/Unbanked

[moneystery]

....
Don't get me wrong, as someone not from the US but is holding bitcoin, if Trump were to follow through his promises it would greatly benefit me but I am just pondering over the real chances of Trump doing this. Am I correct with my assumption that dollar might weaken as bitcoin gets stronger? and if I am, won't that make bitcoin a direct competitor of the US dollar? What will the dollar benefit from Trump doing this? or am I missing something here?

usd is weakening not because of the strengthening of bitcoin but because of global geopolitical conditions and the us economy which directly impact the weakening of the dollar. that's why in his current administration, trump wants to empower bitcoin and make it profitable for them by issuing policies that are more pro-bitcoin, because he doesn't see bitcoin as a direct competitor of usd-- and rather than fighting it like china did, trump wants to take advantage of bitcoin regulations and tax it... and thus the country will benefit from the multiplier effect of the policy.

[DrBeer]

....
Don't get me wrong, as someone not from the US but is holding bitcoin, if Trump were to follow through his promises it would greatly benefit me but I am just pondering over the real chances of Trump doing this. Am I correct with my assumption that dollar might weaken as bitcoin gets stronger? and if I am, won't that make bitcoin a direct competitor of the US dollar? What will the dollar benefit from Trump doing this? or am I missing something here?

usd is weakening not because of the strengthening of bitcoin but because of global geopolitical conditions and the us economy which directly impact the weakening of the dollar. that's why in his current administration, trump wants to empower bitcoin and make it profitable for them by issuing policies that are more pro-bitcoin, because he doesn't see bitcoin as a direct competitor of usd-- and rather than fighting it like china did, trump wants to take advantage of bitcoin regulations and tax it... and thus the country will benefit from the multiplier effect of the policy.

The coming of the Trump administration, should make a difference. Soft and cowardly policies on the part of the US will no longer be.... There will be a tough struggle for the revival of the U.S., and first of all in the economic direction. For this, the U.S. has everything it needs, including the support of some of the BRICS countries, among which there were provocateurs who wanted to create problems for the U.S. with the dollar. If we put aside a few rogue countries, the rest of the countries will choose mutually beneficial cooperation with the U.S. and the new administration rather than confrontation, fulfilling the plans of some rogue countries, which are afraid of creating problems for the U.S. themselves. And China, whose economy is going down the drain and has an export-oriented economy, has already made a choice and is obediently implementing the new US sanctions  

[wheelz1200]

They are as much competition as gold is to the US dollar.  They can both coexist and likely will for a very long time.  We have to also see what he is going to do now that he is in office.  Politicians lie a lot pre election to get votes.  Its what he does that im watching.  I like you will benefit if he is pro bitcoin and makes policies to help not hurt bitcoin.  He is now on the clock so the first couple months will be telling.

[WillyAp]

If we put aside a few rogue countries, the rest of the countries will choose mutually beneficial cooperation with the U.S. and the new administration rather than confrontation, fulfilling the plans of some rogue countries, which are afraid of creating problems for the U.S. themselves. And China, whose economy is going down the drain and has an export-oriented economy, has already made a choice and is obediently implementing the new US sanctions  

It's a big if with a president who does not believe in Win Win relations.
Who on every occasion laments the abuse the US is taking.

In questions of Nato, why wait 30 years to remind the member states of their duties? They had a great tool and abused it. Swift is dying, thanks to crypto and the Bitcoin Movement. They even woke up and began to create a new way of channeling dosh (money) around.

Why does that not go through the US? That is the reason why the US governmental body is bitter about losing their power.

[l99l]

Even Trump, who is the president of the United States for the second time, is making constructive changes to get rid of the country's debt crisis and he knows that the current debts of the US dollar and central banks will not end, so he chooses bitcoin as the new path and is determined to make it a reserve currency.
That's why he has faced many things and stood behind what he said. Trump administration wants bitcoins, which are cryptocurrencies seized as a result of illegal activities, to be the reserve currency.
They do not want to sell 53.000 dollars and lose billions of dollars like Germany did.

[STT]

Im not confident just one administration can reverse that much debt, both parties have the wrong attitude and no commitment to repay the debt with a ongoing budget surplus.   Other countries have done as much but its a rarity in modern fiscal deficit national budgets.

In the last years view of Dollar or DXY the index used to follow its strength, the surprising thing is the failure to break below 100 was a positive point onwards not just for the Dollar but also BTC close to that time has been acting well also.  So the thread title of VS hasnt applied recently, they moved together.

 I expect BTC to gain faster with a declining dollar all the same but not sure when.

[MarjorieZimmermanGinger]

Don't get me wrong, as someone not from the US but is holding bitcoin, if Trump were to follow through his promises it would greatly benefit me but I am just pondering over the real chances of Trump doing this. Am I correct with my assumption that dollar might weaken as bitcoin gets stronger? and if I am, won't that make bitcoin a direct competitor of the US dollar? What will the dollar benefit from Trump doing this? or am I missing something here?

That is not something that is expected because I am sure Trump has a good strategy to make the dollar strengthen even though in some conditions it can weaken due to several factors. Bitcoin is considered to be able to provide resilience to maintain value so putting it in a reserve is a good strategy and this is a strategy that may have been considered to get continuity for the country's economic journey. For the weakening issue to occur even though they did not put bitcoin in a strategic reserve.

Trump is not as stupid as we think and he must have done his research before he said it and I am sure the policy team has done a study on the process they will be implementing. The dollar's advantage may be to maintain the value of the amount of bitcoin they hold so that the reserves serve to increase government revenues to be better off in terms of the value they place on it.

[BenCodie]

Won't having bitcoin as their strategic reserve harm US dollar? Especially with the rise of BRICS and their dedollarization agenda, won't Trump be just making their job easier if he were to prioritize bitcoin?

Yes, it could even be the way the America rugs the rest of the world. I believe I read recently that the US are soon allowing banks to buy Bitcoin. When this happens, Bitcoin's price could go parabolic and leave the rest of the world behind...though also meaning rapid devaluation of the US dollar. If America (or its banks/mncs) time this in a way where they have a reserve that clearly outpaces the rest of the world, then those holding the US dollar will be left holding the bag while the select few holding Bitcoin will become/maintain their most-wealth status across the world. Interesting times are ahead.

[Abiky]

That is not something that is expected because I am sure Trump has a good strategy to make the dollar strengthen even though in some conditions it can weaken due to several factors. Bitcoin is considered to be able to provide resilience to maintain value so putting it in a reserve is a good strategy and this is a strategy that may have been considered to get continuity for the country's economic journey. For the weakening issue to occur even though they did not put bitcoin in a strategic reserve.

Trump is not as stupid as we think and he must have done his research before he said it and I am sure the policy team has done a study on the process they will be implementing. The dollar's advantage may be to maintain the value of the amount of bitcoin they hold so that the reserves serve to increase government revenues to be better off in terms of the value they place on it.

Well, making the USD stronger is a bad idea. It will make borrowing more expensive. Real estate and car sales will be affected too. Especially with high interest rates. A weaker USD has the negative effects of inflation, but it causes crypto market prices (and precious metals) to go all the way to the moon. So there's that.

Either way, don't expect Bitcoin to replace the USD anytime soon. The US government won't allow it. Trump is only interested in doing a BTC reserve to help make his administration richer. Not to back it with the USD or use it as a replacement. At least, we know Bitcoin won't be going away soon. As long as it stays decentralized and censorship-resistant, there should be nothing to worry about. It's what makes Bitcoin truly-unstoppable.

[coupable]

And they'll like about their bitcoin reserve amounts just like they lied about their gold reserves that led to Bretton Woods system falling apart and dollar tanking until they introduced a new scam replacement called Petrodollar

Any source about that lie?
I mean hearsay is not enough in that case.

It is not a lie and remains a possible scenario as long as we are talking about a continuous will to impose control over the world and especially the media to spread propaganda that suits what the viewers demand. Yes, America may be lying about its Bitcoin savings as long as there is no evidence of that, and it is not logical to rely only on what the US administration says about itself and what it owns. Pooya's opinion is based on a conclusion according to historical data and not a feeling that they are lying.

[WillyAp]

It is not a lie and remains a possible scenario as long as we are talking about a continuous will to impose control over the world and especially the media to spread propaganda that suits what the viewers demand.

No source no veracity.
Anyone can imagine something or believe a something he got from Social networks.