BitcoinFreak12
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December 27, 2014, 10:33:24 AM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. |
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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picolo
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December 27, 2014, 05:40:30 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
This would be a one time gain. The government would rather keep deflating its debt by printing more dollars perpetually. Being the reserve currency and the international trade currency was a huge advantage for the US. It will switch for the Yuan, Gold or Bitcoin |
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BitcoinFreak12
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Activity: 42
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December 27, 2014, 06:23:09 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
This would be a one time gain. The government would rather keep deflating its debt by printing more dollars perpetually. Being the reserve currency and the international trade currency was a huge advantage for the US. It will switch for the Yuan, Gold or Bitcoin It will switch to Yuan, i suppose, and then the Chinese will start to ban BTC, but due to this pressure more and more peoole will join BTC, because the gold can be confiscated too, thus BTC will win eventually. Although it will be forever unofficial, as no government will claim it as their national currency ever, they are just too cowards to do that. |
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picolo
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December 27, 2014, 08:05:17 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
This would be a one time gain. The government would rather keep deflating its debt by printing more dollars perpetually. Being the reserve currency and the international trade currency was a huge advantage for the US. It will switch for the Yuan, Gold or Bitcoin It will switch to Yuan, i suppose, and then the Chinese will start to ban BTC, but due to this pressure more and more peoole will join BTC, because the gold can be confiscated too, thus BTC will win eventually. Although it will be forever unofficial, as no government will claim it as their national currency ever, they are just too cowards to do that. Chinese are buying a lot of Gold, both the central bank and households. In 10 years the international monetary landscape will be clearer |
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scarsbergholden
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December 27, 2014, 08:08:16 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. He is arguing that if the government had created bitcoin, they did so to cause the value of the dollar to fall so the government can repay their debt with money that is worth much less. I agree that this logic does not make sense because the government would give up control of their monetary policy and it would be difficulty to prevent bank runs in times of economic crisis. |
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picolo
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December 27, 2014, 08:43:32 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. He is arguing that if the government had created bitcoin, they did so to cause the value of the dollar to fall so the government can repay their debt with money that is worth much less. I agree that this logic does not make sense because the government would give up control of their monetary policy and it would be difficulty to prevent bank runs in times of economic crisis. It would be better for the government to have a strong Dollar while creating a lot of it. |
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jaysabi
Legendary
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Activity: 2044
Merit: 1115
★777Coin.com★ Fun BTC Casino!
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December 27, 2014, 11:04:24 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. He is arguing that if the government had created bitcoin, they did so to cause the value of the dollar to fall so the government can repay their debt with money that is worth much less. I agree that this logic does not make sense because the government would give up control of their monetary policy and it would be difficulty to prevent bank runs in times of economic crisis. It would be better for the government to have a strong Dollar while creating a lot of it. Agreed. The US would prefer to have its cake and eat it too. Plus, the US can do a lot to debase the dollar without inventing competing currencies. And at ~4-5 billion market cap, btc just isn't big enough to make a meaningful impact to the dollar. |
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picolo
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December 27, 2014, 11:35:05 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. He is arguing that if the government had created bitcoin, they did so to cause the value of the dollar to fall so the government can repay their debt with money that is worth much less. I agree that this logic does not make sense because the government would give up control of their monetary policy and it would be difficulty to prevent bank runs in times of economic crisis. It would be better for the government to have a strong Dollar while creating a lot of it. Agreed. The US would prefer to have its cake and eat it too. Plus, the US can do a lot to debase the dollar without inventing competing currencies. And at ~4-5 billion market cap, btc just isn't big enough to make a meaningful impact to the dollar. Even if Bitcoin had a 100 Billions market cap it wouldn't be a game changer for the Dollar |
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Pastafarian
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December 27, 2014, 11:41:36 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. He is arguing that if the government had created bitcoin, they did so to cause the value of the dollar to fall so the government can repay their debt with money that is worth much less. I agree that this logic does not make sense because the government would give up control of their monetary policy and it would be difficulty to prevent bank runs in times of economic crisis. It would be better for the government to have a strong Dollar while creating a lot of it. Agreed. The US would prefer to have its cake and eat it too. Plus, the US can do a lot to debase the dollar without inventing competing currencies. And at ~4-5 billion market cap, btc just isn't big enough to make a meaningful impact to the dollar. Even if Bitcoin had a 100 Billions market cap it wouldn't be a game changer for the Dollar sadly this is true, but in the long term I am still hopeful for the future of BTC |
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Gyfts
Legendary
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Activity: 2758
Merit: 1512
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December 28, 2014, 12:35:08 AM |
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We're trillions in debt and it won't ever be paid off for the reason it's impossible. Only reduction of the rate we decay into debit is what is feasible.
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botany
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Merit: 1064
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December 28, 2014, 02:24:13 PM |
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We're trillions in debt and it won't ever be paid off for the reason it's impossible. Only reduction of the rate we decay into debit is what is feasible.
When the dollar is no longer the world's reserve currency, the debt may have to be paid back. |
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CBG81
Member
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Activity: 82
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December 28, 2014, 02:37:05 PM |
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the short reply would be .... Never...
they will just keep on printing money and Gov bonds, which will only increase such dept.
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NotLambchop
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December 28, 2014, 03:03:39 PM |
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the short reply would be .... Never...
they will just keep on printing money and Gov bonds, which will only increase such dept.
You know that the debt is denominated in the very same USD that's being printed, right? |
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edmonddantes
Full Member
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#1 Reseller
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December 28, 2014, 03:08:48 PM |
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LOL,I myself have a debt of 100k$,I don't think I am going to repay!
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CBG81
Member
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Activity: 82
Merit: 10
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December 28, 2014, 04:22:48 PM |
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the short reply would be .... Never...
they will just keep on printing money and Gov bonds, which will only increase such dept.
You know that the debt is denominated in the very same USD that's being printed, right? yes i do, and your point being...? |
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NotLambchop
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December 28, 2014, 04:29:45 PM |
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the short reply would be .... Never...
they will just keep on printing money and Gov bonds, which will only increase such dept.
You know that the debt is denominated in the very same USD that's being printed, right? yes i do, and your point being...? The point being that if I owe you USD, and I print USD, I can ask the guy running my printing presses to print up whatever it is I owe you & give it to you. Debt paid, easy peasy  |
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scarsbergholden
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December 28, 2014, 05:56:45 PM |
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What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. He is arguing that if the government had created bitcoin, they did so to cause the value of the dollar to fall so the government can repay their debt with money that is worth much less. I agree that this logic does not make sense because the government would give up control of their monetary policy and it would be difficulty to prevent bank runs in times of economic crisis. It would be better for the government to have a strong Dollar while creating a lot of it. Governments tend to want to have a weaker currency (to a point) because having a weak currency means that their country's economy has advantages over their trading partner's economies which results in higher domestic economic growth which results in higher tax revenue for the country, which results in a more of an ability to repay their national debt |
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picolo
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December 28, 2014, 10:03:59 PM |
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the short reply would be .... Never...
they will just keep on printing money and Gov bonds, which will only increase such dept.
You know that the debt is denominated in the very same USD that's being printed, right? yes i do, and your point being...? The point being that if I owe you USD, and I print USD, I can ask the guy running my printing presses to print up whatever it is I owe you & give it to you. Debt paid, easy peasy Debt paid but it will have dire consequences. What if bitcoin is a long term secret plan from the us government to destroy the debt? bitcoin gets mass adoption first then usd goes freefall, bye bye debt
No because it's open source, it has no backdoors, so why would the control maniacs give up the power above the currency? It makes no sense. Plus, the media propaganda always speaks badly about the Bitcoin, if it were a government false flag, then it would be cheered by wallstreeters and media propagandists. He is arguing that if the government had created bitcoin, they did so to cause the value of the dollar to fall so the government can repay their debt with money that is worth much less. I agree that this logic does not make sense because the government would give up control of their monetary policy and it would be difficulty to prevent bank runs in times of economic crisis. It would be better for the government to have a strong Dollar while creating a lot of it. Governments tend to want to have a weaker currency (to a point) because having a weak currency means that their country's economy has advantages over their trading partner's economies which results in higher domestic economic growth which results in higher tax revenue for the country, which results in a more of an ability to repay their national debt You are right that right now governments in the West are looking to have a weak currency but I don't think it has the advantages they say it has. |
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NotLambchop
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December 28, 2014, 10:28:04 PM |
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the short reply would be .... Never...
they will just keep on printing money and Gov bonds, which will only increase such dept.
You know that the debt is denominated in the very same USD that's being printed, right? yes i do, and your point being...? The point being that if I owe you USD, and I print USD, I can ask the guy running my printing presses to print up whatever it is I owe you & give it to you. Debt paid, easy peasy Debt paid but it will have dire consequences. Oh? Then I guess I'll tell my guy to stop the presses  ...The problem is inherit to the system...
I keep hearing about this impending doom, mainly from the lunatic fringe. ...  |
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smoothie
Legendary
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Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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December 28, 2014, 10:32:11 PM |
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the plan was'nt ever to pay it back....
Scammers borrow money with the intention of never paying it back....on a small scale that is true and on this large scale it is no different.
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