Post
Topic
Board Speculation
Re: Can bitcoins break $5,000 in 20 years?
by
jojo69
on 31/08/2012, 20:14:26 UTC
What the hell else are they going to do with their dollars?

what dollars?

there hasn't been a "dollar" since 1935

all they hold are electronic notations representing that they are owed federal reserve notes

There are no bitcoins either.  What's your point?

And for the record, there are dollars.  I've got one in my wallet that was minted in 2010.


"the United States dollar was defined as a unit of weight equaling 371 4/16th grains (24.057 grams) of pure silver"

that thing in your pocket is a debt instrument

I will attempt to stop being obtuse.  I find it vanishingly unlikely that the United States federal reserve note will exist in 20 years, certainly not as a world reserve currency.  What will China do with the value owed them?  Choke on it or go to war most likely.