American Debt is climbing lets talk about it. Can Bitcoin Help?

CryptoGuru Level X³

October 8, 2016, 3:47 pm

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American Debt is climbing lets talk about it. Can Bitcoin Help?

The total debt of the united states is about 19.7 Trillion dollars. This is a record high for the Unites States. What can we do in This time when banks are closing and the government decides to freeze everyones money? Bitcoin is the only alternative that can provide a protection against a collapse. Putting money into Bitcoin now, before the inevitable happens will insure that you have money to show for when it hits the fan.

The American Economy is based on a debt-based money system, and our debt is soon going to pass 17 Trillion sometime in 2017. How do we cover these debts? We use the federal reserve and we print more money causing the worth to go down. Its safe to say that the current financial system is crashing and we need something new to replace it. Bitcoin can be the answer if they move quickly.

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CryptoGuru

CryptoGuru

Man some of the things you say sound crazy Mike. The thing is they are not far from the truth. I hope that Bitcoin helps in the decentralization of currency as a whole If you treat currency like a natural resource than many people can benefit. The more people who use Bitcoin the more wallets they have to split the 20 Million Bitcoin with the Higher the price will go. I will look into this book and read it maybe it will have some good points i can use later on in life. I Have never heard of Steemit but i do agree with you on needing global wealth and spreading the money out instead of having a %1. They have already started micro chipping people in Australia i think it would be alot harder to do here in the land of the free. Who knows maybe people will go for it but the history of the United States is people will fight for what they believe in. We went to war over a Tea Tax lol! Thanks for Reading and sharing your thoughts.

8 years ago

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Lynne

Lynne

Yeah I think the debt all over the world is incredibly high. If you look at the average person I believe most people have credit cards, loads and debt with so many people living way beyond their means.

I believe there are loads of people that are stuck in the vicious cycle of debt where they need to continue taking more debt out just to be able to cover their monthly financial commitments. I know how this feels because I was stuck in that cycle years ago.

I believe people need to start looking at ways to earn and ways to invest their money! Great post.

8 years ago

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CryptoGuru

CryptoGuru

Im glad to hear you are not in the cycle anymore i hope to soon be out of it myself. Thanks for sharing..

8 years ago

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Cristian

Cristian

Questions I've been asking myself for a couple of years now:

Will the global economy collapse at some point? If the answer is yes, my next answer would be "When?" - Estimate.
How bad is it going to be? A global collapse will surely be many times worse the than the 2008 Crisis right?

Either way, if the collapse is that big that banks will close and people will be unable to withdraw their money, I don't really think Bitcoin is going to save anyone once pandemonium installs.

8 years ago

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CryptoGuru

CryptoGuru

See thats where your wrong Bitcoin will actually be the reason people have any money to begin with if the economy collapses. While the average person is fighting with the bank about their account, im spending my money and trading assets freely. I think i explained this on another post but ill say it again. Bitcoin survived Russia being sanctioned, it survived the UK splitting, and it survived silk road. When traditional money fails Bitcoin thrives, China is the perfect example of this. I don't for see a global collapse happening i see the USA falling and i know w are the worlds currency at the moment but countries like china Russia and more have been pulling out of the dollar for the past 10 years now. Something like 30% of the GDP has moved away from American dollars already and that number is growing fast. In the mean while Bitcoin just keeps getting more valuable. Thanks for sharing

8 years ago

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Corzhens

Corzhens

It looks like you love Bitcoins so much that you even think that it can help the economy of the country. You have to be realistic with commerce and accept the fact that Bitcoin is just a commodity like a gift check or gift certificate. In fact, the gift certificate is even better because it is valid anywhere and the value is stable while the Bitcoin is not accepted anywhere that even in the internet you need to find a buyer to convert it to cash. Pardon me for this comment. I am just being honest in my opinion.

6 years ago

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