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Altcoin Agent (OP)
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December 01, 2014, 09:10:27 AM |
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I keep hearing from people more knowledgeable and educated then myself that the USD doesn't have much life left in it.
While I like to keep a sizable usd reserve to buy up cheap Bitcoin when the opportunity presents itself, I wonder what would happen if the dollar went down hard.
Since BTC/USD is a pair, obviously, that would mean that the relative value of Bitcoin would rise. But then there's the other fiat currencies that can trade to Bitcoin, directly or not.
I imagine there would be huge arbitrage opportunities for a while, and probably amazing panic buying, driving Bitcoin ten times higher then today ( probably a VERY modest guess.
What would be the wisest course of action ? Keeping reserves in Euro's to buy Bitcoin the moment the news of a dollar crash hits ?
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"You Asked For Change, We Gave You Coins" -- casascius
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Lethn
Legendary
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Activity: 1540
Merit: 1000
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December 01, 2014, 09:19:16 AM |
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Trade in Bitcoin, Gold and Silver, my objective right now is to pretty much only get Bitcoin and then I'll buy up precious metals, silver being the cheapest right now.
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1Referee
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December 01, 2014, 09:37:05 AM |
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No matter how many people think the USD will fail, it will not.
To answer your question, I will just buy a load of USD with my EUR.
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Altcoin Agent (OP)
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December 01, 2014, 09:40:13 AM |
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I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though. |
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Lethn
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December 01, 2014, 09:46:14 AM |
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I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though. I don't think that they're going for a gold backed currency, Max Keiser's theory of a world 'digital' currency sounds a lot more plausible they'll probably blame paper for it and then claim that they need to digitise everything in order to keep to their targets better. Basic rule of keeping your wealth is this, don't invest in anything that is easily controlled by governments, especially if it's under control of the U.S. Going for a gold backed currency would actually be a responsible move, but good luck getting any of the current leaders to do that. |
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1Referee
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December 01, 2014, 09:50:31 AM |
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I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though. I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen. If there is a significant price drop I will definitely buy up USD. Great investment opportunity. |
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Lethn
Legendary
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Activity: 1540
Merit: 1000
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December 01, 2014, 09:51:51 AM |
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I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though. I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen. If there is a significant price drop I will definitely buy up USD. Great investment opportunity. LOL! |
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Erdogan
Legendary
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Activity: 1512
Merit: 1005
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December 01, 2014, 10:34:55 AM |
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I would buy the new "Strong dollar" which is backed by corn.
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rogerdonkey
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December 01, 2014, 10:47:42 AM |
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maybe euro is good but i have suggest to u for buy bitcoin
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TrailingComet
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December 01, 2014, 11:50:37 AM |
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Mix of currency assets. Would want to own a diversified portfolio of physical commodities as well. Zero leverage across portfolio.
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bornil267645
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December 01, 2014, 12:00:51 PM |
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That would finally given me the relief from bankers and wall street.
Would have kissed my wife and went sleep . BTC rule!!!!
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1Referee
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December 01, 2014, 01:20:53 PM |
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I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though. I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen. If there is a significant price drop I will definitely buy up USD. Great investment opportunity. LOL! What's so funny ? |
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Erdogan
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December 01, 2014, 01:24:13 PM |
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It won't fail
Why
Because
Because what
Because because.
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Lethn
Legendary
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Activity: 1540
Merit: 1000
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December 01, 2014, 01:30:25 PM |
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I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though. I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen. If there is a significant price drop I will definitely buy up USD. Great investment opportunity. LOL! What's so funny ? Because nothings funnier for me lately than seeing people in denial about a crashing global economy because it just shows how little you guys live in the real world. |
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bitbunnny
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WOLF.BET - Provably Fair Crypto Casino
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December 01, 2014, 01:40:19 PM |
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Change it with Euro
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1Referee
Legendary
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Activity: 2170
Merit: 1427
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December 01, 2014, 01:42:03 PM |
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I will just buy a load of USD with my EUR.
You would buy USD after a crash ? I read some articles online that the US Government would switch to a new, gold backed currency. Sounded like a crackpot conspiracy though. I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen. If there is a significant price drop I will definitely buy up USD. Great investment opportunity. LOL! What's so funny ? Because nothings funnier for me lately than seeing people in denial about a crashing global economy because it just shows how little you guys live in the real world. Not sure if you're aware of the fact that people do have different opinions. One thinks the world economy will crash in the near future, and the other don't. I don't see a reason why the USD won't survive, every action will be taken to get it through whatever recession there is at that moment. |
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AltcoinInvestor
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December 01, 2014, 01:42:27 PM |
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Well Crushing of USD means "Russia and/or China" got the leadership of the world, so I would buy Russian Ruble or China Yuan  |
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finlon
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December 01, 2014, 02:27:30 PM |
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I keep hearing from people more knowledgeable and educated then myself that the USD doesn't have much life left in it.
While I like to keep a sizable usd reserve to buy up cheap Bitcoin when the opportunity presents itself, I wonder what would happen if the dollar went down hard.
Since BTC/USD is a pair, obviously, that would mean that the relative value of Bitcoin would rise. But then there's the other fiat currencies that can trade to Bitcoin, directly or not.
I imagine there would be huge arbitrage opportunities for a while, and probably amazing panic buying, driving Bitcoin ten times higher then today ( probably a VERY modest guess.
What would be the wisest course of action ? Keeping reserves in Euro's to buy Bitcoin the moment the news of a dollar crash hits ?
I don't think dollar would ever drop too much in its price. Its one of the strongest currency in the world and the chance of it dropping would mean a world wide financial problem. |
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Atdhe
Sr. Member
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Atdhe Nuhiu
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December 01, 2014, 04:39:19 PM |
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What would be the wisest course of action ? Keeping reserves in Euro's to buy Bitcoin the moment the news of a dollar crash hits ?
If USD crashes - and I really do not see it in even long term - it will be together with other fiat money. When it happens, there will be already alternative system like BTC or Googlecurrency or whatever else widely accepted as money. |
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spazzdla
Legendary
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Activity: 1722
Merit: 1000
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December 01, 2014, 06:53:58 PM |
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What would be the wisest course of action ? Keeping reserves in Euro's to buy Bitcoin the moment the news of a dollar crash hits ?
If USD crashes - and I really do not see it in even long term - it will be together with other fiat money. When it happens, there will be already alternative system like BTC or Googlecurrency or whatever else widely accepted as money. Not a single fiat currency has lasted the test of time, not a single one. Every empire has fallen.. Time has a way of erroding even the strongest pillars. |
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