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Author Topic: The Future True Reference of Value  (Read 1805 times)
Erdogan
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January 30, 2015, 02:11:43 PM
 #21

At the moment its dollar and it will continue to be due the rigging of the system. If they can rig the system to make it be flat line (or at least perceived flat line by the common folk when they do groceries) they will still be #1.
For Bitcoin to reach that level we need mass adoption + a lot of years into the future when the emission of mined BTC is really slow.

The dollar is the best world money now, but traders decide, and that decision can change quickly.

Traders aren't everything. If Mr Rothchild and friends are under severe danger if the dollar collapses, do you think they will let it happen? the super elite is not going to sit down and relax as "traders" decide to collapse dollar and adopt bitcoin or god knows what will happen.

If folks want some type of money, they use it, and the dominators can do nothing.

But you would need insane amounts of adoption for the so called dominators to give up and join Bitcoin themselves (which would be good because It would only make the price higher).

Right, but bitcoin has some degree of adoption now, and the adoption is rising (that's what I think anyway). Since the usefulness of the system and the money is better with more adoption, bitcoin has to take it all. The dominators will be deprived of oxygen, and have to find something else to do.


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January 31, 2015, 04:39:52 PM
 #22

Yeah, look into SDRs if you haven't already. They are potential claims on freely usable currencies available to IMF members. Not a currency per say, but an asset reserve. Value is determined by a few of the economic powerhouse currencies of nations with ties to the IMF: US, Japan, Euro, Great Britain.
I have a problem with figuring out exactly what the SDR is. It seems member states have in advance agreed to on request exchange SDR's for a set of fiat currencies, up to a certain amount per country, more for the well standing coundtries. I guess that means it is a form of credit.

SDRs are utilized through the IMF, so only countries who have a relationship with the IMF (very few, but powerful ones) can partake. Post WWII, most foreign currencies are on a floating exchange rate. Countries that have poor exchange rates can "buy" SDRs from other holders or they can get them from IMF designation.

By having a basket of different currencies determining the exchange rate, countries with floating exchange rates that are poor stand a better chance to get better rates for their own currencies against the value of larger nations who's currency is higher value at that time.

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