Post
Topic
Board Economics
Re: usa goverment 3.13 tril. defict its enough?
by
The Pharmacist
on 25/10/2020, 20:21:04 UTC
And maybe some time that bitcoin price will not be based on USD, but just BTC.
That isn't going to happen unless or until goods and services are priced in terms of BTC--and I don't see that happening in my lifetime. 

Bitcoin is a new, global currency/asset thing that doesn't have a good track record so far of people adopting it--and when I say "adopting" I mean using it to buy things.  The USD and Chinese yuan are only two fiat currencies out of many, and I don't think the performance of either one of those will have a significant impact on bitcoin's price. 

As far as the US's addiction to debt goes, something's got to give eventually.  We can't continue printing money and accumulating debt like we have been.  Somebody is going to pay for all of the shit that happened between 2008-now, but I don't know if it's going to be the current generation or one or more of the future ones.  And frankly, I don't think anyone in the US government's money management department is paying attention.