Atdhe
Sr. Member
 Offline
Activity: 326
Merit: 250
Atdhe Nuhiu
|
 |
December 01, 2014, 06:45:18 AM |
|
If it's used it's alive period.
It is really hard to discuss anything, if probably majority of people refuse simple facts like that one. I believe dollar might die one day and very suddenly or it can be pegged to BTC or something like that. But one has to have balls (instead of brain) to tell nowadays that USD is dead or dying. |
|
|
|
|
|
|
|
|
|
|
|
|
|
Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
Plutonium
Newbie
Offline
Activity: 24
Merit: 0
|
|
December 01, 2014, 06:52:19 AM |
|
Yea I think the dollar and other fiat currencies have still got a long life ahead, though I think something like the dollar could collapse or lose a lot of its value eventually.
Exactly... Bitcon should be the compliment of Fiat rather than a competitor Cash - offline, Bitcoin - online When people realise this, bitcoin will soon become used just like cash is today. |
|
|
|
|
Atdhe
Sr. Member
Offline
Activity: 326
Merit: 250
Atdhe Nuhiu
|
|
December 01, 2014, 07:01:05 AM |
|
Yea I think the dollar and other fiat currencies have still got a long life ahead, though I think something like the dollar could collapse or lose a lot of its value eventually.
Exactly... Bitcon should be the compliment of Fiat rather than a competitor Cash - offline, Bitcoin - online When people realise this, bitcoin will soon become used just like cash is today. BTC can serve more like a reserve curency. Analogy to Latin American model, where they use USD as the reserve currency, because of it's stability and value. My girl is just heading to Paraguay, where USD is used this way, I will propose her to tell them a good joke about dead US dollar... |
|
|
|
|
|
picolo
|
|
December 01, 2014, 10:25:01 PM |
|
Increasing the money supply is a sure way to get more troubles and run away inflation.
The reality is more complicated: Central banks print 10x more money and buy out all the troubled assets in the country while still introduce very low or none inflation, since the sellers of those assets (commercial banks) simply put back their income money into FED's reserve account and don't touch those money, to ensure there will be no extra liquidity on market, thus no inflation By doing this, they created a housing bubble and crashed it, drove people to default, took their house, and sold back to themselves using printed money. After several repeat, they own majority of the country's assets, dollar is not important any more for them, even the USD crashed, they have already get all those assets The idea was to avoid market crashes but they are just setting themselves up for a bigger blow-up. |
|
|
|
|
|
oblivi
|
|
December 02, 2014, 12:01:31 AM |
|
Yea I think the dollar and other fiat currencies have still got a long life ahead, though I think something like the dollar could collapse or lose a lot of its value eventually.
Exactly... Bitcon should be the compliment of Fiat rather than a competitor Cash - offline, Bitcoin - online When people realise this, bitcoin will soon become used just like cash is today. All this " we are bitcoiners and we will defeat the mighty fiat monster" is kinda delusiona IMO, we should just provide an alternative, thats all. |
|
|
|
|
|
picolo
|
|
December 02, 2014, 01:07:15 AM |
|
Yea I think the dollar and other fiat currencies have still got a long life ahead, though I think something like the dollar could collapse or lose a lot of its value eventually.
Exactly... Bitcon should be the compliment of Fiat rather than a competitor Cash - offline, Bitcoin - online When people realise this, bitcoin will soon become used just like cash is today. All this " we are bitcoiners and we will defeat the mighty fiat monster" is kinda delusiona IMO, we should just provide an alternative, thats all. Bitcoin has the potential to become big, very big, huge or even the main mean of exchange. If it becomes big it will be valued 5000$/coin, very big 20,000$, huge 60,000$, main mean of exchange 200,000$  |
|
|
|
|
|
rogerdonkey
|
|
December 02, 2014, 08:08:21 PM |
|
I don't see the dollar coming to an end, many people in this world invest money in dollar..
|
|
|
|
Atdhe
Sr. Member
Offline
Activity: 326
Merit: 250
Atdhe Nuhiu
|
|
December 02, 2014, 08:25:02 PM |
|
Not only invest, they actually use it. Even most BTC transactions (except the shady ones) are defcato fiat money transactions done through bitcoins. Everybody is still counting in fiat money even when doing pure BTC transactions. BTC is not money yet.
|
|
|
|
|
|
picolo
|
|
December 02, 2014, 11:17:38 PM |
|
I don't see the dollar coming to an end, many people in this world invest money in dollar..
They may be wrong... |
|
|
|
|
|
Eastwind
|
|
December 03, 2014, 04:54:26 PM |
|
BTC is not money yet. But might be in the future.
|
|
|
|
|
|
Martijnvdc
|
|
December 03, 2014, 06:59:57 PM |
|
I can imagine the US dollar losing it's position in the world, but i don't think bitcoin will play any major role in this "collapse". It will be the US's own fault.
|
|
|
|
|
|
worle1bm
|
|
December 03, 2014, 07:32:00 PM |
|
I'm still waiting for the collapse? Everything sees to be going smoothly.
|
|
|
|
Wekkel
Legendary
Offline
Activity: 3108
Merit: 1531
yes
|
|
December 03, 2014, 08:17:10 PM |
|
Increasing the money supply is a sure way to get more troubles and run away inflation.
The reality is more complicated: Central banks print 10x more money and buy out all the troubled assets in the country while still introduce very low or none inflation, since the sellers of those assets (commercial banks) simply put back their income money into FED's reserve account and don't touch those money, to ensure there will be no extra liquidity on market, thus no inflation This is an interesting observation to ponder on. Peter Warburton wrote a book 'Debt and Delusion' in 1999 that is not framed in Austrain economics, but tries to answer the question why money printing did not lead to massive inflation. Warburton also touches this topic in a very clean post from 2001 reflecting his thoughts on the state of affairs: w.gata.org/node/8303 Most of his thoughts still apply today and his remark on the absence of 'a stable numeraire' is very intriguing when thinking about Bitcoin as possible contender. I found the book very hard to read but did so anyway, but - when it comes to the observation that is central in this post - you are better off by reading a review of this book by someone with an Austrian view: http://mises.org/library/debt-and-delusion This one will also take some brain cells to digest and is perhaps more about the thoughts of the reviewer than whats actually in Warburton's book, but it creates the clear outlines of a theory why all this massive money printing has not (yet) led to massive inflation. Johnyj and others are on to something here.... Related to the above and also excellent seed if your mind provides vertile grounds is the theory described in the following blog posts: http://parcontre.blogspot.nl/2008_08_01_archive.html with the update (2013): http://parcontre.blogspot.nl/2013/05/deflation-or-inflation.htmlPerhaps very simplistic to some educated souls but it paints a helicopter view of the financial economy versus the real economy over a span of decades and how things seem to go in cycles. Suppose this theory has any merit, we are experiencing a financial economy that is blowing the biggest debt bubble ever while disconnecting with the real economy to an increasing extent. The summary is that either the financial economy will snap and meet the real economy below (deflationary) or the real economy meeting the financial economy above (inflationary). A bit of both could mean Gold at $5,000 and the Dow at 5,000 (if history will again rhyme with a 1:1 Dow/Gold ratio at the bottom of the resolution between the financial and real economy). An interesting theory for the broad picture with some interesting ideas on the historical interest rates. Similar thoughts can be drawn from charts like TobinQ: http://csinvesting.org/2014/01/09/tobins-q-the-market-is-60-overvalued/These things sure keep away the daily drivel of pundits and guru's on Apple flash crashing and stock markets rising (or gold being manipulated) in sight of near depression of the real economy. In the long run, this will not matter. The case for holding bitcoin will not be made over a time span of 1 year only. As an end note: 'end of the dollar' is a misleading theme. History shows that even with extreme inflation (like 50% per month), people still use the official currency. The dollar may crash and burn, but will surely not end just like that. Therefore, we should not use this terminology when speaking about this topic. |
|
|
|
|
picolo
|
|
December 03, 2014, 08:23:10 PM |
|
I'm still waiting for the collapse? Everything sees to be going smoothly.
It is taking a while because everything is in movement : there are a lot of companies and people creating wealth in the States, a large stock of capital, wealth and skills. Other currencies are going down. In a ponzi or a bubble everything is going fine until it collapses |
|
|
|
|
master5
Newbie
Offline
Activity: 29
Merit: 0
|
|
December 08, 2014, 06:10:40 PM |
|
I don't think dollar would come to an end for another 50 years at least. Bitcoin is not that popular to take over.
Right now Bitcoin is not that popular but the Dollar will crash it should become more popular. The Dollar may not end soon but it will lose most its value as the number of Dollar in circulation increases and it becomes a smaller portion of exchanges and reserves in the world I think that the dollar never coming to an end, because it is not only money, but also a world currency (international means of payment). |
|
|
|
|
|
Darude Sandstorm
|
|
December 08, 2014, 06:35:34 PM |
|
I don't think dollar would come to an end for another 50 years at least. Bitcoin is not that popular to take over.
Right now Bitcoin is not that popular but the Dollar will crash it should become more popular. The Dollar may not end soon but it will lose most its value as the number of Dollar in circulation increases and it becomes a smaller portion of exchanges and reserves in the world I think that the dollar never coming to an end, because it is not only money, but also a world currency (international means of payment). There's a lot of fud coming from both pro and anti-USD, but the dollar isn't invincible and constantly printing more and more can certainly be disastrous. Only time will tell what truly happens but people have been announcing it's collapse probably since it started. |
|
|
|
|
leex1528
|
|
December 08, 2014, 06:38:50 PM |
|
I don't think anyone alive right now will see the end of the dollar. I say at least 200 more years before the Dollar officially goes away and is worth nothing. The problem is it will be such a huge transition that it just won't happen over night. I mean think of the millions of people who would be bankrupt if the dollar lost all value, literally like 95-99% of the US would be worth nothing and bankrupt.
|
|
|
|
|
|
juve4v
|
|
December 08, 2014, 07:01:56 PM |
|
I do belive dollar bill still represents the last best bastion of freedom, in regard to anonimity -better than BTC-and there is a deliberate plan for its complete annihilation .I embrace evolution but bitcoin needs to evolve, if our concern is -should be- anonimity, or switch to another coin that is already offering the required features.
|
|
|
|
|
|
Martijnvdc
|
|
December 08, 2014, 09:21:42 PM |
|
I do belive dollar bill still represents the last best bastion of freedom
Seriously? The last bastion of freedom? What makes you think that? What's wrong with the euro? |
|
|
|
|
|
picolo
|
|
December 08, 2014, 10:46:56 PM |
|
I do belive dollar bill still represents the last best bastion of freedom, in regard to anonimity -better than BTC-and there is a deliberate plan for its complete annihilation .I embrace evolution but bitcoin needs to evolve, if our concern is -should be- anonimity, or switch to another coin that is already offering the required features.
If you mine BTC, buy it cash and use Tor how would anyone know it's your BTC? |
|
|
|
|
|
