The dollar is going to collapse bros... it's time has come.
DOLLAR COLLAPSE IMMINENT
This time for real
Imagine not having put all your assets in bitcoin in 2008
Said the increasingly nervous shitskin for the millionth time
Here's hoping. Fuck I got some cool shit and cars from the states when our dollar was on parity years ago.
Good thing I use a card
You really don't understand how fast modern money printers can operate. Do you? The missing trillions from the Pentagon?
Lightspeed fiat creation. It's begun. Time will not be able to catch our economy anymore.
President Paul!
President Paul!
I wish senpai
Printing won't fix anything. In fact, let this shit collapse. We need the dollar to go away and we need to start a legitimate rebuild.
he's joking oct. 2008 was the bank bail out and when bitcoin announced
you couldn't even mine it until jan. 2009
and even then a lot of people didn't get it until they studied austrian economics which ron paul was preaching for decades
You're right, I thought they said 2009! Austrian economic philosophy is the only way forward, death to Keynesianism
The dollar will not collapse in the near or far future purely because there is nothing even close to being able to replace it.
Maybe in 100 years there will be a strong and new enough power. But not currently.
Correct
>nothing even close to being able to replace it.
The replacement will be a Freegold international trade system. Bilateral currency swaps that can be traded for goods or gold and an automatic adjustment mechanism.
Dont be retarded nip, its going to collapse
I doubt it the rest of fiat currencies are worse , but i would not be suprised if the retards in power lack the cash to back their digital fiat and if the people exiting the market end up using all the cash in atms crashing the dollar for real.
I mean with trillions leaving the market the ones that don't go to bonds will go to cash it's probably a serious problem.
duh. it is a managed demolition.
buy bitcoin or accept the new kike currency like a retard.
bitcoin? lol how does anyone trust bitcoin? who even controls it?
Better get inna cash, gold is gonna collapse!
>who even controls it?
that's why we trust it, n00b
>Maybe in 100 years
wow that is a pretty bold statement
what would replace the dollar is actually goods with tangible value being exchanged for goods and services.
someone has to control its value, is my point. you just don't know who.
it is just digital information with nothing backing it. someone can just hack it.
mmmm since you are a newfag asking an honest question here is how bitcoin works
1_Coins are mined every 10 minutes and transactions processed every 10 mintues.
2_The ones running the network get fees+mined coins as a reward for running the network.
3_The supply of coins rewarded is reduced every 4 years meaning the inflation is decreasing constantly so people speculate they will be worthy in the future because they have a decreasing inflation(like gold).
I could go for hours explaining this but the game theory behind is 150 iq+
>someone has to control its value, is my point. you just don't know who.
The value is different in every nation based on supply and demand.
Here in boludolandia it's traded at a premium of 10% due to capital controls(you can buy stuff online using btc).
Supply and demand establish the price and since supply is decreasing the price tends to go up long term.
>it is just digital information with nothing backing it. someone can just hack it.
Wrong it's not on a server but on thousands and they have to invest hardware + electricity to verify transactions in order to hack it you would need to spend aproximately between 2 to 4 billions and that would only give you the ability to temporally freeze the system at a cost of almost 500k usd per hour in electric cost and so much electricity than more than what switzerland use so it would need to be descentralized.
All that shit just to freeze the system temporally.
It's value is permanently controlled. This was set into motion at launch - the scheme is hardened and cannot be changed. there is no "monetary policy" with bitcoin, that is what bitcoin IS, a digital, fixed monetary policy with a trusted ledger.
digital information is as real and substantial as anything else.
The dollar can't collapse. It's backed by the full faith of the government.
>who even controls it?
you control it faggot
you run a node and you choose to participate in the economic consensus or not
if some jew says hey I need some shekels for israel somebody code israel gets 1 shekelcoin every block, nobody would accept that "fork"
to change the consensus requires a fork that splits the chain
so non important changes aren't done, and important ones are discussed for months and even years before the community comes to a consensus
this is the harded first layer of bitcoin that is compared to gold
the 2nd layer is the lightning network
bitcoin's are put into a multisig address where you control 1 key, the network ruleset controls a key, and your channel partner controls a key
this creates a programmable meshnet on top of bitcoin where we can develop it faster than we can on the mainchain
this will increase bitcoin's velocity and allow us to have a good economy
our system failed when we went from gold to gold backed fiat to fiat
the steps from gold to paper to digital numbers increased velocity so fast that we didn't even question if the gold was still in the vaults
but now is the day of reckonings where people find out
You can't trust gold in a vault but you can trust bitcoin in a multisig
Nigger do you not know about SDR. Sdr is the new currency in 1s and 0s.
to add to this
lets say a portion of people say we need to fork 1 shekelcoin over to israel they will immediately be outside out consensus
for them to benefit from our economic activity they need to give us something in return like get fucked on exchange rates or something
it naturally fixes how money is accounted for and used
the bitcoin system works so flawlessly that everyone can be acting selfishly and it'll still work
it's so fucking based and crafted so god damn well
I only begun to understand the depths of it recently after 5-7 years of studying it
but it ISN'T anything. you don't hold anything. it is just data on a computer.
i wouldn't put my money into that. maybe a little on the side, almost like a paypal account, but that's it.
it's even more based than you think once you grasp the bigger picture currency innovations.
for any n00bs - all you really need to understand is that bitcoin has a fixed and reliable supply that we can keep track of.
>it is just data on a computer.
yes, which is a physical, substantial thing that exists. data on a computer is not magic, do you know how computer storage works?
i don't care if you put your money into that. you are the people who will be poor and clueless after the transition just as you are today. don't feel bad, in my experience most bitcoin boosters don't really understand it either.
Isn't the dollar probably going to rally in the next few weeks, because it's a flight to safety by investors?
when America devolves into civic anarchy? let's watch and see
everyone has a ledger (the node)
you personally hold the keys to your coins
so it's like if the entire world had a bank in cyberspace and you had a key to a safety deposit box
next is your entire financial life will be attached to this key
colored coins can represent other assets, but this opens up a whole new can of worms on custodial risks and what not
my main point is everyone can download the ledger it's purposely made to be easy to download and validate so banks can't fuck it up with their games
any average person can keep them honest
this is how we stop the "chip" the 1984 the problems with industrial society
I read ted's manifesto again last night and almost all his problems can be solved with a consensus ledger like bitcoin
the "collapse" of the USD is not related to the current coronavirus stuff and has been ongoing for several years. it's not really a collapse, just the end-game of the previous monetary order.
the reason Trump has made all of these trade agreements is to create a productivity-backing for the USD in order to replace the international petrodollar model. essentially the USD is two currencies - an international settlement "reserve" currency, as well as a domestic currency. we are in the process of abandoning the settlement currency in order to shore up the domestic currency. countries that have trade deals with us will be under the "domestic currency" umbrella, so it's not an entirely within-the-borders type of thing.
at some point, the "settlement currency" will be killed off. that's when the fun begins for the rest of the world. we'll be fine.
ChimpCoin is the only chicken backed cryptocurrency that has an algorithm so simple you can mine coins with an abacus
It only works if the general public has access to the gold. If only a few people have gold, you get a system where only a few have purchasing power, and before you know it, where back to a feudal system.
and what other national currency is going to replace it/
inb4 bitcoin because there is national army to wage war on behalf of Bitcoin like the dollar
there is nothing (((they))) would allow you to replace it with.
I think it's pretty based that bitcoin can have the attributes of gold and then be programmed on top
for those who don't know, 1 bitcoin is 100,000,000 satoshi and you can add decimal points to that in additional layers like lightning network has msat 1/1000 a satoshi
This opens up new transfers of energy, attention, wealth, etc. to juice up the velocity of money
gold can never beat fiat in velocity
fiat can never beat gold in stability
bitcoin beats them both by programming both of their best attributes plus more into it
We're talking about making fractions of a penny if there's an adsense in the corner of the screen, or donating fractions of a penny to contributors here who post quality content
the possibilities are endless
it basically puts a number on what ad agencies have been doing to people's psychology
There are million ideas no body has time to type them out
This idea of a global consensus of high velocity programmable money, based on austrian economics
it's fucking game over for kikes, but you guys need to learn the system and integrate it into your lives
There's something called immersion inversion
you immerse yourself in bitcoin and eventually your community inverses itself out of the dollar into bitcoin
this will be automatic with cost savings, but it can be accelerated if you accept cost sinks or break evens
for example I'm going to buy a couple miners to heat my hot water
it's a lot of messing around and I barely make any money
but what I am doing is fucking the chink miner's profits, securing the bitcoin blockchain in one of the most decentralized ways possible, immersing myself in it so it chips at them economically
if everyone else in the world is going to pull shit through economic warfare it's time you make a decision where you place your time and money
I love bitcoin it's changing the world
you don't understand money.
you misspelled the Euro
>when my retarded LARP comes true
so never?
yes i do. Value of any currency is almost perfectly correlated with the strength of its military or its allies militaries.
This is a fundamental law of politics and finance that has literally held for 3000 years.
you dont understand basic supply and demand.
Whats to stop other from making other crypto currencies?
Why will people all settle into one crypto currency when there can be an infinite different varities?
The reason why some currency is more valuable than others is because it is tied to a nation of people who build and create things and are willing to physically fight/defend for those things.
A currency without a military is a currency eventually worth zero.
As long as the US military is still functioning, the dollar isn't going to collapse
we'll be fucked over from coronavirus
a stunning double black swan event
>s is a fundamental law of politics and finance that has literally held for 3000 years.
welcome to the next 3000 years, n00b.
you don't "understand it," you just know it is the case. you don't understand why it is the case. catching on to the definition of understand yet?
the stores already emptying out where I live
where is the next shipment coming in from? China?
bitcoin doesn't have to wage war
it has autsits like me living outside the US economic system inside the US
It beats the US dollar in every aspect so I use it
what are they going to do arrest me?
where in the constitution does it say I have to be a goy slave
they know this I know this it's best you know this before you're too old and die a slave
>stop other from making other crypto currencies
there will be hundreds.
> all settle into one crypto currency
they won't, but it won't matter
>willing to physically fight/defend for those things
no, that does not determine the relative value of a currency against another. of course it doesn't. are you simple?
black swan, or deus ex machina?
>Whats to stop other from making other crypto currencies?
who's on their consensus and why is it better
you poor cryptofags, the inventor being named as Satoshi Nakamoto which means Central Intelligence in Japanese should have clued you in to the whole inside joke. Payments will be accepted in gold and silver if you want treatment, I'd imagine. Especially once the rolling blackouts begin.
retards don't seem to understand that BTC doesn't present any problem for USD. It does present a problem for the Federal Reserve.
What if the power goes out
if the modern world loses the ability to maintain power infrastructure you won't care about money.
money = power, if you have gold, you can exchange it for other goods, of course. duh
What does that even mean, though? What would a dollar collapse look like?
why do you default to some negative bullshit like this
it doesn't matter who created bitcoin because it is OPEN SOURCE and it's a CONSENSUS
anyone can look at what's going on and determine if it's worthwhile to enter that consensus or not
for the few that studied this in depth we realized the program is pretty great
>printing money
Senpai, they literally just add a few extra zeroes to their balance sheets.
why would I want gold?
are blockchain currencies moving anons?
>What would a dollar collapse look like?
you're living through it. it's not mad max shit.
for the same reason so many people seem to want toilet paper - it's psychological
TP is not psychological, it's to clean my dirty ass after shitting, which happens every day.
not too different than what the stores are looking like now with empty shelves, lines, etc.
It better fucking not. I was just there for a few weeks and it felt like I was from the fucking Sudan with my shitty money
based.
10 bitcoinaire reporting in. never selling.
to use as a form of currency, what the fuck do you think happened in Rome? Did society look like it was in that great of shape? Pray civilization gets turned back on again after one by one different portions of it shut down.
>you're living through it. it's not mad max shit.
This is the beginning t is probably worse than mad max if you aren't in the australian outback.
this isn't the kind of thing that can be gradual. there is going to be a breaking point.
>it felt like I was from the fucking Sudan
user, I
I never really considered the fundamentally stupid idea that the value of stocks directly impacts the value of currency. does that sound childish? it seems kind of fundamentally wrong and against a national interests. it's kind of an ouroborous of tail wagging dog wagging tail. why do countries allow exploitative market gambling if it can obliterate them?
you have no idea of the things you speak about, you are just repeating shallow myths that are used to program NPC's.
Again, if the modern electrical grid goes down permanently you'll be dead and none of this will matter. Fortunately, that's not the future you are entering. Quite the opposite.
nah.
The most autistic thing ever said about this topic.
>why do countries allow
have you met the Jews?
>what are they going to do arrest me?
Actually if they want to yes, its called the IRS>bitcoin doesn't have to wage war
what happens when buisness have to go to court over a dispute and the court cant enforce anything because the dispute centers around an uneforceable item like bitcoin?
OR better yet, when you get awarded settlement or have to pay settlement the terms are in USD.
Also,how do you manage to pay the government for taxes? Or are you somehow such a genius you figured out a way to evade taxes even though almost no one has ever figured out a way to do this completely.
Let me add one critical point to this:
>4. BTC has a blocksize limit of 1MB. This means only 1MB worth of Tx data every 10 minutes (only around 7txs/second).
The plan to increase this during Bitcoin's peak congestion (you have to "bid" for your place in that 1MB block by placing a fee that goes to the miner who "mines" it) was opposed by the company that largely subverted its development generally (Blockstream via Greg Maxwell and co). At peak congestion, the median value for a single transaction to be confirmed was $50USD (not fucking kidding).
Additionally, the so-called Lightning Network does not mitigate this problem. It only allows "more transactions", not "more users". It does this by off-chaining transactions into "beads" of payment channels between nodes which eventually are intended to settle back on chain. The design of this network, in order to be feasible at large scale, requires large centers of liquidity and thus massive centralization. Although touted as a scaling solution initially, it never was and never was intended to be one. In short, BTC was completely compromised.
>t. Ex-Bitcoin Dev
who says btc and other currencies won/t coexist?