What would you do if the US Dollar crashed ?

[Atdhe]

1. It is nonsense. Many fiat money were simply renamed, but held certain value. If you rename a currency it is not end of the original currency. The story how none of fiat money survived is utter bullshit. They lost most of the value, but holding value is not the only attribut of currency and it is overvalued factor.

2. Historical data do not tell anything to recent situation. USD is strong. People around world believe in fiat money, they use them, they save their retirement pensions in them. If you want to buy a house or gas or milk, you use it as well. If you deny it, then you are in asylum and someone connected computer there.

On the top of that US economy is in lesser shit than rest of world, so there is raising USD against other currencies.

USD and fiat money will vanish somewhere after value of the money in Bitcoin will be MUCH greater than monetary base of the fiat money. This means until we see rate 1 BTC = XXX,XXX USD, dollar is not going to crush.

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[countryfree]

Since BTC/USD is a pair...

No. Far from it. Bitcoin's value is hardly related to the U.S. dollar's health. There was no link between BTC's huge rise and then its fall earlier this year and the dollar.

Regarding your question, I haven't had a dollar in my hand for about 5 months, so I wouldn't do anything if it crashes, but I'm not expecting that. With millions of successful workers and the US army behind it, the dollar remains much stronger than BTC for the foreseeable future.

[harkonnen]

I would buy the new "Strong dollar" which is backed by corn.

which is backed by my poop, and maybe yours.

[harkonnen]

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.

USD (and many currencies) used to be backed by gold.
All other currencies are backed by USD.
USD is no longer backed by gold.

If USD crashes, all other currencies crashes.
And you are trying to buy some trash with trashes.

[toknormal]

I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen.

Would care to elaborate on the reasoning that brought you to this conclusion ?

I think I know why it's not failing right now despite the massive expansion (x5) of the USD "coin supply", but I can't see those conditions sustainable for a long period.

For example, what makes you so confident that the trillions backed up on Fed balance sheets, or the Chinese held $1T in USD bonds or the Japanese held $1T in USD bonds or the huge amounts of dollar denominated sovereign wealth funds held by the Gulf region countries won't find their way back out into the markets ?
 

[Atdhe]

I can't see those conditions sustainable for a long period.

Even Greenspan did not believe, that what he created can be that sustainable. Amazingly it is over 2 decades. And that is not short period.

Question is how the money has to find the way to markets. If things will be like now, it is rational to think that nothing will change. Money can go to markets if the super rich people and corporations would like to move from speculative markets to lower floors of more real economy. But I do not see why this should happen. There is no ROI, markets are saturated.

[toknormal]

Even if certain contributors on bitcointalk don't think this is going to cause a problem, some big nations sure do - namely the Chinese, Russians and Indians who've been hoovering up all known gold supplies around the world for the last 3 years.

Just to put things in perspective, can you imagine if the Peercoin dev suddenly decided to hardfork PPC and grow the coin supply from 20 Million to 100 million overnight ? Do you think PPC holders would have something to say about that ? (Like revaluing PPC to a fifth of its current value by dumping en masse).

The chinese appear to be doing exactly that - but they need a way to hedge themselves prior to shooting their own feet off which is why they're buying all this gold. When they start to dump the gold price will skyrocket to offset their losses.

[acquafredda]

buy 80% of gold and 20% of bitcoin every month. Any amount you can afford.
Then dollars, euro, francs will not bother you anymore.
I mean, if you really love BTC do the opposite, 80BTC 20 gold.

My 2 satoshis
 

[Bernard Lerring]

How does silver compare to gold in terms of rarity and the ability to mine?

I haven't got the money to buy loads of gold, but I have some BTC and would be interested in silver if it is seen as a sound investment. Or is it better to buy a small amount of gold together with BTC?

[Atdhe]

Just to put things in perspective, can you imagine if the Peercoin dev suddenly decided to hardfork PPC and grow the coin supply from 20 Million to 100 million overnight ?

Even monetary base can not be so easily compared to cryptocurrencies. All those money are NOT at the market (and all politicians and central bankers of the world fail again and again to bring the money to market). If they were we would have seen the inflation.

In a certain way one can imagine this excessive mB as the untouched Satoshi's Bitcoins. They do exist de iure, but they do not touch market. So they are not influencing anything and actual amount of BTC in circulation is much much lower. And that amount of really circulating BTC's is important (unless Satoshi starts to sell them).

USD stored in offshore paradise's banks that will not be touched should NOT be considered as money. And at those banks end most of the corporate profits...

[sonofacoin]

To OP,

What you are thinking to do has a name... Arbitrage. Everyone please rush to Google and search this word!

All of the exchanges around the world were used efficiently to profit on arbitrage. When arbitrage was gone so were a lot to bitcoin traders leaving you holding expensive coins.

A US Dollar crash? You mean a come back to reality, right? Because USD is so strong now that a 10% drop would be consider a crash now, but would be a return to this year's early prices.

To gain on Forex (another word you guys may want to Google), you would need to buy a currency that has been beaten. The Yen is one, the Ruble is another... The Euro is down but not greatly.


That said, I would hold to any Bitcoin you have. But would buy Yen or Ruble if you feel like you want to go Forex while the USD is super strong.

[acquafredda]

How does silver compare to gold in terms of rarity and the ability to mine?

I haven't got the money to buy loads of gold, but I have some BTC and would be interested in silver if it is seen as a sound investment. Or is it better to buy a small amount of gold together with BTC?

Silver is not as rare as gold. But it's getting more and more considered as an alternative of gold.
You may find good offers if you would like to buy some silver bullion around.
It's funny how BTC and LTC are representing the difference between Gold and Silver. They seem to be the respective digital versions.

Anyway, I expect the dollar to crash soon. Otherwise it will be true that this markets are super fake: manipulation will always prevail.
Even in the BTC one.

[1Referee]

I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen.

Would care to elaborate on the reasoning that brought you to this conclusion ?

I think I know why it's not failing right now despite the massive expansion (x5) of the USD "coin supply", but I can't see those conditions sustainable for a long period.

For example, what makes you so confident that the trillions backed up on Fed balance sheets, or the Chinese held $1T in USD bonds or the Japanese held $1T in USD bonds or the huge amounts of dollar denominated sovereign wealth funds held by the Gulf region countries won't find their way back out into the markets ?
 

There are so many speculators at this moment hoping for the USD to vanish and leaving a trail of destruction behind, all for their own benefit.

Why am I supposed to agree with what they say? At this point the entire world economy is at risk if something happens with the USD.

Would they rather let the USD burn or will they take every necessary step to prevent it from failing. I go for the last.

[Erdogan]

I don't listen to news sites and people who are hoping that the USD will fail. It just won't happen.

Would care to elaborate on the reasoning that brought you to this conclusion ?

I think I know why it's not failing right now despite the massive expansion (x5) of the USD "coin supply", but I can't see those conditions sustainable for a long period.

For example, what makes you so confident that the trillions backed up on Fed balance sheets, or the Chinese held $1T in USD bonds or the Japanese held $1T in USD bonds or the huge amounts of dollar denominated sovereign wealth funds held by the Gulf region countries won't find their way back out into the markets ?
 

There are so many speculators at this moment hoping for the USD to vanish and leaving a trail of destruction behind, all for their own benefit.

Why am I supposed to agree with what they say? At this point the entire world economy is at risk if something happens with the USD.

Would they rather let the USD burn or will they take every necessary step to prevent it from failing. I go for the last.

Print moar, then it will never fail. Because of the military.

[Atdhe]

How does silver compare to gold in terms of rarity and the ability to mine?

I haven't got the money to buy loads of gold, but I have some BTC and would be interested in silver if it is seen as a sound investment. Or is it better to buy a small amount of gold together with BTC?

Silver is not as rare as gold. But it's getting more and more considered as an alternative of gold.
You may find good offers if you would like to buy some silver bullion around.
It's funny how BTC and LTC are representing the difference between Gold and Silver. They seem to be the respective digital versions.

Anyway, I expect the dollar to crash soon. Otherwise it will be true that this markets are super fake: manipulation will always prevail.
Even in the BTC one.

Really is silver so great? So called bimetalism is dead for years. There is no need for more cryptocurrencies to exist than just one, especially when they have almost the same possibilities.

Gold is obsolete shit even as value staorage, but at least 1 million USD in Gold is less than 30 kilos and because of high density of gold the 30 kilos can be stored in very small physical safe. But if you want 1 million USD in Silver, then it is like 2000 kilograms, so even your car will not be capable to move it and you will have problem to store it.

So with silver even smaller transactions have to be done via certificates. But certificates and digital era do not go well together. Never did in pre-BTC era. I remember eGold, there was small hype about it 10+ yrs ago, but it never became popular and now with BTC it is a pure stupidity to look back to precious metals.

[pereira4]

Retire with my 1 BTC wallet. 

[acquafredda]

There's a sort of fashion thing in Gold and Silver that's innate in human beings.
So I vote for both Gold and BTC.

I don't see the problem in the "old" metals.
 

[Atdhe]

Yes, there is sort of fashion for driving horses, woman degradation and mass killing as well in human history. Do not forget to take some of those.

BTC is not sort of fashion on the other side so maybe you should forget about it.

What you write is inconsistent.

[Ibian]

http://www.usdebtclock.org/

We just crossed the big 18.

The US debt is so high that it is impossible to pay even the interest on the loans. In the very close future it will be so high that even the entire GDP could not pay off the interest.

There are only 3 possible outcomes to this. Hyperinflation, default, or a war that makes things like numbers on a ledger meaningless.

Those of you saying the dollar will survive just fine, I challenge you to explain how that could possibly happen, using reason and numbers and keeping personal opinions to a minimum. Heck, I'll even put a reward on the line. 0.1 btc to whoever can find a reasonable fourth option.

[Atdhe]

Currencies with "unsustainable" debt are here for decades. They will not be here forever, but there indeed is scenario that they can exist for some time and the time can be longer than lifespan of many people. Japan's GDP already for many years is lower then their debt and shit happens. 90%+ countries and their fiat currencies are in much bigger shit than Japan and japan did not ask yet North Korea for help...

Your question makes no sense. You ask for infinity and bet 0.1 btc on something you can never lose and on something that does not solve anything. Some of your 3 outcomes will one day happen, but before that can be very long time of deflation for example.

Money now is defined by 7bn of people and it is mostly fiat money. In one second or 5 mins and most probably in 1 month or year it will not change.