Can Hive Solve This?
In recent days, I have noticed more and more senators telling us that even if the debt ceiling is not raised, the US cannot default because their loans are denominated in dollars, and the Federal Reserve is responsible for printing dollars. This means that if the US government wants to, it can print any amount of dollars needed to pay back its debt. Of course, if that were to happen, the monetary system as we know it would end because the dollar would lose all its value and trust. However, what concerns me the most is that we have reached a point where US politicians are so confident about their supremacy and power that they are openly discussing it in the middle of a currency war between the US and China. While they are right that they have the power to print as much as they want, I worry that they are not afraid to do it.
https://twitter.com/watcherguru/status/1656379837823561730?s=46&t=GG1c-nGZYDKvmyqi9kOuYA
This is where Bitcoin comes in. It attempts to solve the problem of centralized governments having the power to print money and the damage they can do to the rest of the world.
Bitcoin was created with the specific purpose of providing an alternative to traditional centralized fiat currencies. It has a fixed and limited supply, with only 21 million bitcoins ever to be created. Unlike fiat currencies, where governments can print as much money as they want, the supply of bitcoin is limited and cannot be easily manipulated. This is because the Bitcoin network is decentralized, meaning that it is not controlled by any central authority.
However, while this may address the issue of excessive money printing, it does raise the question of whether this can create other problems down the road. A limited supply of money may lead to less economic output, as businesses and individuals may have less money to invest and spend. This can have a negative impact on economic growth and development.
Can #hive and #hbd can solve this problem.
Hive is an inflationary cryptocurrency, with a target inflation rate of 1.5%. It also has a stablecoin called HBD that is designed to be pegged to the value of the US dollar. In order for HBD to be created, Hive tokens must be burned. This means that when there is high demand for HBD, Hive becomes deflationary, causing the price of Hive to go up while HBD remains at a stable price. Additionally, Hive is fully decentralized, with no single central authority deciding when to start printing or not.
Now is hive perfect no it's not nothing is perfect everything has it's own unique problems but what it comes down is weighting the pros and cons and the pros outweighing the cons.
What do you thing BTC or Hive is the better alternative to replace the fiat system we now have?
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Definitely Hive. BTC is capped at 21 million, there wouldn't be a possibility for expansion when the economy grows. I think HBD can get the job done of replacing the fiat system.
If the US government goes on to printing dollars to save the situation, then the price of cryptocurrencies could climb much higher than they are now. Fiat will be less valuable.
Yeap if they print we skyrocket but inflation will skyrocket too and then the credibility of the us will be lost
No but your mom can
Will create a token then and solve the global warming
The current US solutions are also going very badly. If they create new notes to correct them or lower interest rates, both of these things will be very good for the market and people. They will take out their money and bring it inside.
Yes but then inflation will skyrocket again
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I don't know if we can truly replace the fiat System. The US government knows that there's a possibility to it with the way they're handling the economy. However Bitcoin and Hive are both examplary and can perform the function, hive brings more utilty and decentralization
In total no we can’t we can probably have two systems .
BTC gas fees are way too high, something like Hive would definitely be cool although Elon likes his Doge.