3 ms·

I wonder if this is the reason for the recent bitcoin surge?

by biohax2015 6y ago

arcticfox 6y ago
I'm not sure why you're being downvoted; it might not be the reason but I feel like it's a reason based on personal experience. I've been both a BTC skeptic and advocate in the past; I was recently brought back from skepticism by the massive US stimulus and the "if we can pay for corporate bailouts, we can pay off all student debt" line of thinking. I'm not even against those policies, but I'd prefer to have my currency not denominated in USD.
- throwaway189262 6y ago
  Total student debt is only ~5% of US GDP. We could undo the last tax cut and it would be paid for in a year. US taxes are at a historic low. There's plenty of money even to make school completely free. The idea that paying for student loans would affect the economy at all is nuts to me. Not even counting the corona bailouts we could have paid for it by just not lowering corporate taxes the last few years. Student loans disproportionately affect the poor and middle class, to the benefit of the rich. The main reason that school has become more expensive and led to all these loans is huge cuts in state funding to colleges. For our parents most states paid over 70% of their tuition. That percentage is far lower now. Basically I'm saying the money to pay for school used to be there, but it was taken away and now we have a whole generation in student loan debt. We almost owe it to those people to "make things right" and pay for their school just like we did for previous generations
coralreef 6y ago
Unlimited quantitative easing and low interest rates is why everything is going up this year; housing, stocks, bitcoin.
andirk 6y ago
Both Square and PayPal are now offering BTC in their ecosystems. They're both buying up massive amounts. Why are people using SQ and PYPL to buy BTC? Probably ease-of-use and if you leave your money in USD you'll be hit negatively by the current money printing (quantitative easing).

I wonder if this is the reason for the recent bitcoin surge?

I'm not sure why you're being downvoted; it might not be the reason but I feel like it's a reason based on personal experience. I've been both a BTC skeptic and advocate in the past; I was recently brought back from skepticism by the massive US stimulus and the "if we can pay for corporate bailouts, we can pay off all student debt" line of thinking. I'm not even against those policies, but I'd prefer to have my currency not denominated in USD.

throwaway189262 6y ago
Total student debt is only ~5% of US GDP. We could undo the last tax cut and it would be paid for in a year. US taxes are at a historic low. There's plenty of money even to make school completely free. The idea that paying for student loans would affect the economy at all is nuts to me. Not even counting the corona bailouts we could have paid for it by just not lowering corporate taxes the last few years. Student loans disproportionately affect the poor and middle class, to the benefit of the rich. The main reason that school has become more expensive and led to all these loans is huge cuts in state funding to colleges. For our parents most states paid over 70% of their tuition. That percentage is far lower now. Basically I'm saying the money to pay for school used to be there, but it was taken away and now we have a whole generation in student loan debt. We almost owe it to those people to "make things right" and pay for their school just like we did for previous generations

coralreef 6y ago

Unlimited quantitative easing and low interest rates is why everything is going up this year; housing, stocks, bitcoin.

andirk 6y ago

Both Square and PayPal are now offering BTC in their ecosystems. They're both buying up massive amounts. Why are people using SQ and PYPL to buy BTC? Probably ease-of-use and if you leave your money in USD you'll be hit negatively by the current money printing (quantitative easing).