Post
Topic
Board Bitcoin Discussion
Topic OP
Bitcoin after the collapse of the Dollar
by
miztaziggy
on 20/04/2014, 21:21:01 UTC
I have read a lot recently about the pending collapse of the Dollar.

The amount of currency being printed is insane, the US are shipping their inflation across the globe by printing so much money, and when it comes home to roost, it's going to destroy the Dollar. There will be hyper inflation at worst, but a total lack of confidence in the Dollar and formation of a new world monetary system at best.

Already China are buying up all the gold and there's real credible talk of China linking their currency to Gold. It'll be the only currency in the world backed by anything and there will be a massive rush to get it pushing the value up. It'll be the end of the petro-Dollar as we know now for international trade and world reserve currency.

There's also rumours of gold being professionally debased, bars drilled out and filled with Tungsten metal. If it's the American government doing this, it's exactly the same thing that ended the Greek empire and the Roman empire.

So, either this year or next when the Dollar collapses and the Yuan takes over, what are the credible options for Bitcoin?

In theory the price in dollars should rise in line with the massive inflation, but that will be dependant on people spending their worthless Dollars on Bitcoin, maybe they will, maybe they wont. There will definitely be a rush to dump worthless fiat currency and go for something solid, either gold, a gold backed Yuan, stocks (maybe?), property (again risky?), Bitcoin?