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Obliv0n

Bitcoin and global debt, a factor that few consider?

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Currently the outlook around cryptocurrencies is relatively encouraging, except for XRP and its case with the SEC.

 

We see how the adoption of Bitcoin is booming, reaching maximums that were estimated for the end of 2021, all this supported by what is known as money or smart investments, coming from private firms or institutions.

 

However, I think many of us only see the surface, it is clear that they want to make money, but since 2020 Bitcoin has been talked about as a more important value than gold or as a refuge from possible crises, this is where the debt appears in the table, which reached the figure of 250 billion dollars during 2020.

 

Leaving the possibility in the air, that this is not just for money, perhaps these companies are creating an optimal environment in which they can protect themselves against a possible crisis of the dollar or the stock markets.

 

What do you think about this? It seemed curious to me and I had not thought about it, will bitcoin be a refuge?

 

The truth is that my economics professor was the one who suggested this possibility, so the credits are for him.

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The global debt has been increased too much after the pandemic. It was at a tipping point even before that. Some governments and central banks decided it was better to deal with the pandemic by printing an infinite amount of new fiat and giving this money to companies. Only a small percentage of this money was given to the people that needed more attentive care from this money. Even so the new money printed didn't go to development. It went into the stocks as the main concern was to keep the stock markets happy. 

2 hours ago, Obliv0n said:

this is where the debt appears in the table, which reached the figure of 250 billion dollars during 2020.

Since the global debt is way higher, this should be the debt of a single country. Most countries are in very high debt that will have to be paid back somehow. The debt ceiling was only temporarily raised to combat the pandemic but after that, the results will be dire for most countries. High debt means economic enslavement for governments to the lenders. It is when the IMF takes over and asks for a sell-off of the productive government assets and heavy taxation that is always targeting the poor of our societies.

 

Bitcoin is the way out of this. We should not expect the government to give us any help. We make our own rules and holding Bitcoin we are our own bank. We will reduce the effects of the economic downturn if we are in Bitcoin. If a government is clever enough they will try to mine or buy Bitcoin and have in the treasury reserves. The first that do that will get the most benefits.

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The Bitcoin is becoming the institution favourite way for store of value and with sort of the investment ongoing to the Bitcoin, Bitcoin seems to be going to the much higher level because of these institution buying huge bitcoins. Unlike 2017, these institution aren't booking profit from Bitcoin even at such high price so the corrections at this bullrun is even smaller comparitively.

And the major role is being played by the increase of the global debt and the inflation to the USD, because of such vast amount of money being printed this years. with all these we can defenietly say BItcoin is becoming everyone's choice.

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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20 hours ago, yonkii said:

Since the global debt is way higher, this should be the debt of a single country. Most countries are in very high debt that will have to be paid back somehow. The debt ceiling was only temporarily raised to combat the pandemic but after that, the results will be dire for most countries. High debt means economic enslavement for governments to the lenders. It is when the IMF takes over and asks for a sell-off of the productive government assets and heavy taxation that is always targeting the poor of our societies.

@yonkii So everything is pointing to an economic decline and this massive purchase may be an early action on the part of the different private institutions to protect themselves in the bitcoin of said crisis, but what do you think would happen if the debt explodes? Would it be something similar to the crisis of 2008?

 

1 hour ago, Ridam said:

And the major role is being played by the increase of the global debt and the inflation to the USD, because of such vast amount of money being printed this years. with all these we can defenietly say BItcoin is becoming everyone's choice.

@Ridam So bitcoin being the choice of the majority, sooner or later it will become a financial refuge for institutions and individuals who have invested in it on time? What could happen after the possible crisis calms down?

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4 hours ago, Obliv0n said:

what do you think would happen if the debt explodes?

The problem comes with how the debt of each country is allocated. If the debt is to other countries and international funds, it could be very problematic. In case the state debt belongs to national private funds, companies, and private or public funds like pensions and national private banks it will be easier. However in any case the economy will be in deep trouble. This trouble affects directly each and every one of us. It is the common people that pay the most. The poor and middle-class collapse. Riots, protests, and vandalism in the city streets become a daily thing as everyone is extremely frustrated having lost their job and income. The countries that will be hit more are the weakest and those with the higher debt that has been amassed after years of government mistakes and mismanagement of the economy. Anyway many more bad things happen during debt collapse and the inability of any country to pay the loans. It is a defaulted economy and the result is mostly chaotic.

All these are the reasons Bitcoin exists. We can't save everyone but owning Bitcoin will save us and perhaps our closed ones from all the negative effects that can happen in an economic crisis.

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I thought that the problem was the upcoming inflation that we are expecting to see. Maybe the debt can play some kind of role in this but it probably not something that will make Bitcoin a better asset. Usually high debt will mean problems for an economy, and the value of the currency will depreciate even more after the debt reaches the top, as the economy will enter recession, de-investment phase and this is a case where high unemployment and inflation co-exist. It is the case of Argentina in the 2000 and Venezuela later.

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I think that Bitcoin is a great way to pay off our debts through wallets in which we do all our credit through what we all do in the days we spent in this encryption and contributed to building countries and improving their economies.

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Well from an economic point of view i believe many companies are seeking something like asylum should incase the dollar crashes but looking at these from yet another perspective, the control and movement of cryptocurrencies are not all that restricted and these is a good bargain for companies and large organizations 

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The global debt is a factor that will have significant role for many top economies, especially the USA. It will be interesting to see how the top economy will manage to handle this much debt that surpasses the yearly GDP by 130% and maybe will go even higher. Last time I checked countries that had this much debt were Argentina and Greece. Both have been target for assault for years by the IMF, lenders that bought the defaulted debt lower, banks and some funds that were betting on default.

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The BTC is gaining massive investments from big firms and they are fastly converting their assets into BTC. where the pandemic shows them the forex market crash and the high rate adoption of crypto. They are taking extra measures to save them from another corona wave. The debt of many countries are very high and the third rate countries are on brick of declining in economic state where the IMF temporary give them some relief  but those countries have raise the taxes on people and hunting down the tax evasioners.The employment rate goes higher in country and people cannot do proper business. 

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In USA alone the debt is 28 trillion dollars and the world debt is $188 trillion. Worth considering as this will be the downfall of capitalism, it was always based in excessive debt, a trick created to enjoy the present offloading the problems to the next generation, perfectly executed until 2008 when the first signs of collapse appeared. 

I'm staying with Bitcoin in case it is what we have been told and I don't see any way out in any other asset. I don't trust gold either and it would be another burden to have to think about higher security. I don't trust the banks to hold gold in their vaults either. This is another myth, the first thing they will empty it will be the bank vaults. Bitcoin is the only escape from the worst that can happen.

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As we seeing the adoption of these crypto currencies is exploding world wide and this year 2021 is a golden year for crypto market and traders , As the price of Bitcoin as well as all the crypto currencies breaks all time high records and further going higher and higher .

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The data related to global debt is usually out of date, so it is possible that it is greater, the role of Bitcoin could be considered as a key in the future, since it could function as a haven just like gold does, without However, I believe that institutional adoption is directed towards another objective, they do not want to protect themselves, they want to earn more money.

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13 hours ago, Ashik1813 said:

Guys it's my own thoughts that through crypto is kind of risky but it can help so many countries in paying of debts. Imagine taking a very huge amount of a countries budget and investing it on a crypto currency. This will help them to double or even triple the money in no time and pay of debts invest more and also start building up the economy but as I said this will be big risk and they'll need a crypto expert in order to do this. So be careful

@Ashik1813 Governments can resort to private firms, such as gresycale that makes smart investments and creates certain supports or guarantees for its investors, however it is still risky, therefore the membership would be more sustainable in the long term, as Venezuela does that although all we know that will not help the economy, if it creates a precedent for a country mining cryptocurrencies.

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A high debt could mean problems, usually it will be the weak that will pay the price, so being in Bitcoin will probably save those that know this. When some people see the cliff and send warnings, there are millions that will not even care to listen and jump. Bitcoin will help us not jump in the cliff but we can't help those that don't want to listen. 

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Fiat Dept problem is one of the main reason why people are massively turning to cryptocurrencies to solve such problems 

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Bitcoin will help a lot of countries economic crisis around the world. I think if they will arrive to find the transaction traceable solution, I'm sure will adopt it globally without any problem. Because I think right now the obstacle for the Bitcoin adoption is its transaction no traceable.


 

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On 1/5/2021 at 8:04 PM, Obliv0n said:

@Ridam So bitcoin being the choice of the majority, sooner or later it will become a financial refuge for institutions and individuals who have invested in it on time? What could happen after the possible crisis calms down?

Well, for the economy to recover from such big impact of the global pandemic, it would take a bit longer. Talking particularly about the ,United states we can clearly see the impact economy is facing. If the possible crisis you are referring come down , the dollar index or purchasing power of dollar will improve and from that we btc will get affected at some extent, if we see btc/usd but the bullishness will remain the same becuse of Other bullish factors that are currently ongoing at institutional level.


NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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Yes and why not it's like gold in value rises by price and falls but the difference between them is that the cryptocurrencies are intangible and gold is tangible.  We can count on it as a place where we collect money. 

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Global debt is increasing a lot for the past one year time, as the problem with covid has damaged all the economies in the world, except perhaps from the place it started, which is China. I don't understand how Bitcoin can help though and why it is a factor in the debt crisis that will certainly come.

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