Bitcoin Casts Off The Shackles Of Future Financial Debt
One of the most worrying trends to be faced by consumers in the financial world today comes in the form of financial debt. All over the world, people are using credit cards to purchase items, regardless of whether they can afford them at that time. Keeping in mind how most companies and retailers offer a monthly payment structure to pay for goods when using a credit card, the amount of debt can add up very quickly. Bitcoin, on the other hand, keeps consumers free from debt, and allows them to manage their finances efficiently. The Looming Mountain of Credit Card Debt. Spending money has....
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Presidential candidate Donald Trump claimed that the US is incapable of defaulting on its debt because of the Federal Reserve’s ability to “print money.” The Republican Party’s presumptive presidential nominee attempted to clarify previous statements that he could persuade America’s creditors to accept less than full payment for the national debt, which was construed by some publications to mean he intended to default. Trump insisted that he meant that the US could simply buy back debt at a discounted rate. “You know, I’m the king of debt. I understand debt probably better than anybody. I....
Financial instability in Greece may eventually drive more people towards alternative financial solution. According to the IMF, Greece has a maximum of three weeks to deal with its looming debt. For the time being, the government suffers from a deadlock in their talks with creditors.Either Greece agrees to additional austerity, or introduces fresh elections. Neither solution is worth considering for the government right now, although a solution has to be found. The IMF predicts Greece’s debt load will become “explosive’ in the next 15 years. Everyone who has kept an eye on the financial....
A former drug and alcohol addict discusses our addiction to fiat money, debt slavery and how Bitcoin inspires him for the future.
Working out a repayment plan should be the top priority for the Puerto Rican government, but that will not be the case for the foreseeable future. Puerto Rico is not often mentioned in a positive content when it comes to the financial sector. Neither is this story, unfortunately, as the country decided to default on its debt. But at the same time, the reason for doing so makes a lot of sense. All of this is still somewhat good news to push Bitcoin adoption in the country to new heights, though. Defaulting on debt is never a good thing, particularly not for a region so deeply indebted as....
Bitcoin enthusiasts have often portrayed the digital currency as the one with special powers that will heal our global financial system. Our financial ecosystem is burdened with huge debt with the world's largest economy China having a debt to GDP ratio of more than 250%. Nations such as Greece are on the brink of Grexit as they fail to service their national debt. The Bitcoin community asserts that Bitcoin could prove to be potentially reformative in this domain. However, this might not be all true since Bitcoin does not completely eliminate the debt from the system. Sorry to break it to....