Russia planning to push Dollar in crisis ? Chance for Bitcoin ?

[RocketSingh]

Source: http://www.storyleak.com/us-dollar-under-grave-threat-russia-plans-global-retaliation/

[zimmah]

As both russia and china are pretty anti-bitcoin they will not officially approve of bitcoin,

however, the natural reaction of humans when a currency collapses or is nearing collapse is to return to safer assets, such as gold, silver, fuel, food, tobacco, coffee, chocolate, sugar, tea, etc.

Now that we also have a pretty safe (depending a bit on how the status of the intetnet is, either via cellphone or via line) digital alternative to gold and silver, which has many advantages and far less disadvantages, it's almost guaranteed that bitcoin will skyrocket during a currency collapse. Altough it depends a lot on other circumstances.

Either way the USD/Bitcoin price will be much more kind towards bitcoin, but the bitcoin/gold and bitcoin/coffee price i'm not sure.

Still it would be better to stock up on bitcoin than it is to stock up on dollars, because you can be sure dollars will be worthless in such a scenario. Which is bound to happen sooner or later anyway. Just how much longer do you think america can keep kicking the can?

[Bit_Happy]

The Dollar crash has been looming for years and it will be ugly. Many people will suffer, so this is not something to look forward to, imo.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.

[IIOII]

An interesting, at least plausible story.

In case of USD-collapse a lot of capital will flee into alternative investments. But Bitcoin is not the only option. Many alternative investments will see price increases. Of course also USD/Bitcoin-exchange ratio will jump skyhigh, but that won't signify much, since the USD then being worthless.

[Cicero2.0]

I am no fan of the fed or our foreign policy, but wasn't it Russia that just annexed a chunk of another sovereign nation? Seems like the would be hero Putin has the propaganda machinery running on full throttle. 

[Cranky4u]

BTC : Gold and the BTC : Oil ratio is what to watch when the USD collapses. All other fiats will alos come into question when the collapse occurs.

China has already prepared with several years of stockpiling gold so watch the Yuan : Gold

Russia is primmed with oil and natural gas so for them watch the Ruble : Oil

From these ratios you can detemine the local value of BTC :fiat. e.g. local fiat : BTC :Gold / Oil

[franky1]

The Dollar crash has been looming for years and it will be ugly. Many people will suffer, so this is not something to look forward to, imo.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.

instead of measuring bitcoin vs dollar. make it bitcoin vs household needs (consumer price index/cost of living) then as the dollar goes crazy, we can see the stable bitcoin value that moves with actual consumer use/value.

EG no point in screaming that bitcoin is worth $100k if that $100k only buys a loaf of bread or converts to only 1 EURO

so i think bitcoin right now roughly equates to 2 weeks cost of living in UK, US and EUROzone

[beatljuice]

I used to believe strongly in the US dollar someday (soon) crashing into "mega-hyper-inflation." But I'm not so sure any more.

The main thing that changed my mind was learning about Bitcoin and what gives it its "intrinsic value."

The reason bitcoin has value is because it has great utility - in the present, and especially in the future. The US dollar also has great utility. It's the most accepted currency on the planet.

Now things like the OP posted will, of course, reduce that utility. But it will take a long time, and a lot of things like the above to turn the dollar into a useless piece of paper. Don't get me wrong, the dollar is going down significantly in the near future, but I think it will be just a big hit like Mt Gox was for Bitcoin. We can blame Mt Gox for cutting the value of Bitcoin in half and the Chinese "banning" for some more droppage, but it didn't kill Bitcoin and I don't think the things coming down the pike for the dollar will destroy it either. Of course those drops in value with the US dollar will be permanent unless policies dramatically change (ha-ha), where Bitcoin will continue to recover and move up in true buying power.

[Cicero2.0]

The Dollar crash has been looming for years and it will be ugly. Many people will suffer, so this is not something to look forward to, imo.
Chance for Bitcoin?
Yes, the fiat collapse will be huge for Bitcoin, but watch the price of BTC/Gold, since your fiat wealth will be an illusion.

instead of measuring bitcoin vs dollar. make it bitcoin vs household needs (consumer price index/cost of living) then as the dollar goes crazy, we can see the stable bitcoin value that moves with actual consumer use/value.

EG no point in screaming that bitcoin is worth $100k if that $100k only buys a loaf of bread or converts to only 1 EURO

so i think bitcoin right now roughly equates to 2 weeks cost of living in UK, US and EUROzone

Soon we will be be able to value it as a basket of goods and services. Aside from exhanges we can decouple bitcoin from other currency.

[Nathonas]

Bitcoin doesn't need to do anything except wait for the existing financial systems to fail once again. Greed and corruption will cause another USD crash because nobody in governments has any balls left to clean it up. And I think the next crash is going to be worse than the 08 one, because it doesn't look we really learned anything from it - none of the scumbags that caused and played a role in it went to jail, and large companies were bailed out. Bitcoin and cryptos may not become the next world currency until far into the future, but with every year we are growing as a very attractive option for people who are tired of the corruption and ineptitude of the mainstream system.

[rext]

time to get ready for the crash

[Cicero2.0]

Bitcoin doesn't need to do anything except wait for the existing financial systems to fail once again. Greed and corruption will cause another USD crash because nobody in governments has any balls left to clean it up. And I think the next crash is going to be worse than the 08 one, because it doesn't look we really learned anything from it - none of the scumbags that caused and played a role in it went to jail, and large companies were bailed out. Bitcoin and cryptos may not become the next world currency until far into the future, but with every year we are growing as a very attractive option for people who are tired of the corruption and ineptitude of the mainstream system.

I am starting to think the collapse is close. It would not take much at this point to tip it and no one in this country has the stomach for another huge round of bailouts and "shovel ready jobs."

[nwfella]

If Obama had half a clue he would start dumping tens of millions at a time into bitcoin right now.  Get something of value for those paper bills before it's too late dude!

America!! Fuck yeah!  :p

[Beliathon]

Whenever people talk about the collapse of the dollar, I am always left wondering what the hell they are talking about.

The dollar has spent the last century collapsing.



It's already worthless, that's why America has no middle class left to speak of, only a massive servant caste and a tiny elite caste.

99% and 1% rhetoric didn't materialize in a political vaccum, you know. There is real shit going down here.

Real ugly shit.

[devphp]

Whenever people talk about the collapse of the dollar, I am always left wondering what the hell they are talking about.

The dollar has spent the last century collapsing.

They are talking about the final stages of collapse.

"When money dies" by Adam Fergusson is a great book on the subject, which outlines how this collapse manifests itself in the final stages. Google it, it's available as a pdf download.

[BitCoinDream]

Source: http://www.storyleak.com/us-dollar-under-grave-threat-russia-plans-global-retaliation/

Till date, I have heard stories of bitcoin may crash any time. Now I hear Dollar may crash anytime ? LoLz... the table is turning man

[SpontaneousDream]

I would hope the dollar doesn't crash any time soon- or at least for a few more years. I don't know if Bitcoin's value would go up much if there was a crash tomorrow (for instance) because Bitcoin is still so little known, people are so misinformed, and there's still an element of complexity.

If Bitcoin became massively adopted in a year, and THEN the dollar crashed, I would feel much better. We need more stability and adoption first.

[Cicero2.0]

There is a fine line between tin foil conspiracies and the reality that we are dealing with. The tin foil stuff just causes people to tune out instead of looking at the reality of it all and taking action to protect themselves. The US has not built 500 death camps for instance.

[franky1]

I would hope the dollar doesn't crash any time soon- or at least for a few more years. I don't know if Bitcoin's value would go up much if there was a crash tomorrow (for instance) because Bitcoin is still so little known, people are so misinformed, and there's still an element of complexity.

If Bitcoin became massively adopted in a year, and THEN the dollar crashed, I would feel much better. We need more stability and adoption first.

if the dollar crashed to a point where a loaf of bread cost $600 and an average wage per week went to $36k (imagin zimbabwe dollar scenario) then if bitcoin was not spiking to $60k purely on the inflation curve.. and stayed at $600 a coin, im sure as hell gonna buy every coin i can get my hands on.

anything below 2 weeks cost of living im buying

[BitCoinDream]

I would hope the dollar doesn't crash any time soon- or at least for a few more years. I don't know if Bitcoin's value would go up much if there was a crash tomorrow (for instance) because Bitcoin is still so little known, people are so misinformed, and there's still an element of complexity.

If Bitcoin became massively adopted in a year, and THEN the dollar crashed, I would feel much better. We need more stability and adoption first.

if the dollar crashed to a point where a loaf of bread cost $600 and an average wage per week went to $36k (imagin zimbabwe dollar scenario) then if bitcoin was not spiking to $60k purely on the inflation curve.. and stayed at $600 a coin, im sure as hell gonna buy every coin i can get my hands on.

anything below 2 weeks cost of living im buying

I dont see, why Bitcoin will stick to 600 USD if Dollar falls ? It is inversely proportional ...and it should jump.