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Author Topic: Bitcoin Price will Surge with Mega Inflation on the Horizon  (Read 1235 times)
tuneman1980
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May 21, 2014, 01:05:03 PM
 #1

I keep reading multiple reports that the Federal Reserve has painted itself into a corner and will have no other option than to "force rates up faster and further than most now believe possible."

I think as this happens, many will flee to gold and bitcoin, causing the price of both to surge. 

Thoughts?

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pummle
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May 21, 2014, 01:18:20 PM
 #2

I keep reading multiple reports that the Federal Reserve has painted itself into a corner and will have no other option than to "force rates up faster and further than most now believe possible."

I think as this happens, many will flee to gold and bitcoin, causing the price of both to surge. 

Thoughts?

As the US dollar inflates, the price per bitcoin naturally goes up. When speculators start seeing the price go up, they will panic buy more bitcoins. This will cause another bubble in the bitcoin price. So I expect the price of bitcoins to go up much more than what would be expected simply from correlating with inflation.

I also expect people will switch to the bitcoin as a worldwide standard for finance instead of the US dollar, since the US dollar is losing its stability as major world powers dump it. This will provide a strong uplift to the stability and price of bitcoins.

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scryptasicminer
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May 21, 2014, 01:21:27 PM
 #3

So long as the US dollar is still the reserve currency. Inflation will show up elsewhere, mainly from export countries abroad.

Gold should be treated like an insurance against the dollar and bitcoin should still be treated like a speculation.
CoinRocka
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May 21, 2014, 01:25:23 PM
 #4

So long as the US dollar is still the reserve currency. Inflation will show up elsewhere, mainly from export countries abroad.

Gold should be treated like an insurance against the dollar and bitcoin should still be treated like a speculation.

Yeah, about that...

http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html

 Roll Eyes
Tripjammer
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May 21, 2014, 02:17:02 PM
 #5

So long as the US dollar is still the reserve currency. Inflation will show up elsewhere, mainly from export countries abroad.

Gold should be treated like an insurance against the dollar and bitcoin should still be treated like a speculation.

Yeah, about that...

http://america.aljazeera.com/articles/2014/5/20/russia-china-bankdeal.html

 Roll Eyes

Does not matter what Russia and china do. To trade with the rest of the world they still need to use dollars. The world still runs on the dollar and the US/Europe and Japan/South Korea still run it.

For now

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cryptnutter
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May 21, 2014, 03:16:22 PM
 #6

Inflation is coming. Actually, it is already here unless you don't eat or buy gas. Best thing to do is have a diversification of cryptos and precious metals to survive the upcoming storm.

beatljuice
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May 21, 2014, 03:24:14 PM
 #7

While I would love for people to "run" to Bitcoin as the dollar drops, I don't think it will happen right now. Remember that the market cap of Bitcoin is less than 2% of Apple's market cap. Bitcoin is currently VERY tiny. And then only a small amount of that Bitcoin is available to buy. People/organizations can't even make a large purchase - it's not possible.
waldox
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May 21, 2014, 09:37:56 PM
 #8

us is slowly losing its reserve currency status

an example is the recent china-russia 400billion dollar oil/gas deal

im hoping bitcoin will take over as the reserve currency in 5-10 years

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onlyu
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May 21, 2014, 09:46:19 PM
 #9

us is slowly losing its reserve currency status

an example is the recent china-russia 400billion dollar oil/gas deal

im hoping bitcoin will take over as the reserve currency in 5-10 years


You need gun to enforce rules and court system in place to settle trade dispute.

Bitcoin has neither.
madken7777
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May 21, 2014, 10:40:34 PM
 #10

Inflation is coming. Actually, it is already here unless you don't eat or buy gas. Best thing to do is have a diversification of cryptos and precious metals to survive the upcoming storm.

Daily necessity and food are more valuable during storm.

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