ledgerman (OP)
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July 14, 2012, 06:15:03 AM |
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I hear alot of talk about how bitcoin could collapse at any time, but I was wondering what you think of the dollar potentially collapsing... http://inflation.us/dollarcollapseanytime.htmlWonder which one is more likely to actually collapse... |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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MoneyIsDebt
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July 14, 2012, 08:42:48 AM |
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One is "too big to fail" and the other is "too small to be noticed"?
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kpatrickwv
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July 14, 2012, 02:58:23 PM |
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Not all. All it would take is some huge government spending, OPEC to no longer trade in it, or a few other pushes from the international markets to topple it.
Gold, silver, ammo, and bitcoins FTW.
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Slushpuppy
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July 14, 2012, 08:55:05 PM |
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well we used to have a gold standard, but now we have a dollar standard. If we go off that the USD will be a lot shittier than it is now. But as it stands, it is still less volatile than BTC
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westkybitcoins
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Firstbits: Compromised. Thanks, Android!
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July 14, 2012, 09:16:38 PM |
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The further ahead in time you evaluate, the more likely it is the dollar won't be around anymore (at least not in the same form.) Fiat currencies aren't exactly known for their longevity. How that will compare to Bitcoin remains to be seen, but while the prospects for the dollar continue to worsen, Bitcoin's prospects are looking brighter than ever.
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Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
... ... In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber... ... ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)... ... The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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DingoRabiit
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July 14, 2012, 09:45:03 PM |
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Currencies are as safe as the country that controls them...
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bitster
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July 14, 2012, 10:08:42 PM |
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The dollars days are numbered at being the top currency of the world.
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matthewh3
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July 14, 2012, 10:12:55 PM |
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I do believe the FED could collapse the dollar and every major trading fiat currency in the world within seven days if it wanted to. Tho if you look at the US they have pretty much everything they need within its own continent/country and they also have the worlds largest nation/state gold reserves. If they wanted they could shut the doors on the world with there own now local currency and go isolationist again as they were before the invention of the Federal Reserve.
Tho if you look at the overpopulated island of Great Briton which is probably the worlds fiat financial hub then if the dollar or euro would go then the pound would follow it. As the UK sold over 50% of it's gold reserves for fiat investments just before the modern rise in the price of gold after 2003. That is why I think Cameron's possible referendum on UK membership of the EU is very dangerous for the UK. As without German and French support post fiat the UK peoples would starve in poverty even tho it's a playground for billionaires with it's suitable tax laws for the super wealthy.
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strickler07
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July 14, 2012, 10:30:35 PM |
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Nothing is too safe - not even gold. Impossible to tell the future. I suggest diversity. And with bitcoin, that's all kinds of easy. You can have holdings in all manner of currencies in mere minutes!
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