Topic: Big test for Bitcoin during the next Economic Collapse. - page 8. (Read 1565 times)

Bitcoin’s biggest test during inflation won’t be, if there’s a surplus of fiat to invest in Bitcoin, because who wants fiat during a time like that?



The real test would be, will everyone actually start to accept Bitcoin for actual goods, and services. Would it be in demand as real MONEY, not as an “asset for speculating”.

We all know 99% of the people who are investing in bitcoin or any cryptocurrency is looking for a mere cashout when they make 2x or 3x but some good old guys and the rest of the 1% know that Bitcoin was created to be a digital and decentralized version of our currency. In an open market where anyone can come in, some billionaires like Elon or the old timers are playing the speculative game to pump and dump the market to cash out the profits.

Many of us know that the whole world is printing more money to stabilize the losses we have faced during 2020 COVID period and people knowing this and getting into bitcoin ain't the reason. For instance, if we take the motto behind a random stranger who is in a shitty Binance Telegram group or some random newcomer in Bitcoin Twitter all they say is that they came to the crypto market to get rich and only a mere 1% came for the revolution and to stay like us.

The reason for satoshi inventing bitcoin and developers working on it, is always different while comparing them to a normal person who is here for profits. In the case of 1923 hyperinflation in Germany, the government printed too much trillions which made the people to carry cash in carts to buy one loaf of bread but currently the exposure and the government ideology has changed over the years and in my point of view a hyperinflation would likely occur.

As I already said, when these alts and others shits like DeFi came in due to the open source movement we have moved into a speculation game rather than a revolutionary game. 99% ain't investing in bitcoin just because they know government is printing trillions but the reason is they want to get rich in this speculation game. In this post I predicted if we are in a dystopian era when bitcoin replaces Fiat currency we might be touching $500k but pumping to $50k when not really much has happened is only because people are getting in without knowing what bitcoin is!

Neutral on this because if we don't have a way to make surplus money (jobs or business), we won't be able to invest anything since the money we earn and the money we spend neutralizes which is the current scenario in third world countries.

They will blame it because it exposed the broken system and they know that the broken system will not be for the long term and they have back up plans at the bay to curtail their own losses when this collapse happens. If an economic collapse were to happen, I think that bitcoin will not be the only one that can help us in that collapse because there is still gold and silver to help with that, remember that you can choose what you can hedge against the collapse but I advice that you should diversify.

That’s why I believe Bitcoin’s biggest test is during the next Economic Crisis, which would also be during a period with M2 Money Stock at the highest.

https://fred.stlouisfed.org/series/M2

If Bitcoin fails to hold, or increase its value DURING HYPERINFLATION, and crashes together with the global economy, then we might see it fail the test. BUT, I also believe it wouldn’t be its only test. It will be its biggest test, but it’s just the first test.

Well, as time goes by, bitcoin will definitely considered to be the currency reserve as other fiats showed not good progress and economy are still not yet resolve from other countries.

Also, this covid 19 eventually an eye opener that bitcoin has a certain purpose and it can be use during the pandemic and also can be a store value for some. The only problem I am seeing is the fraudsters who are using bitcoin that affects really the reputation of it.

See, I've always thought Satoshi (whoever that entity is) created bitcoin because of the banking crisis of 2008/09.  For a time back then there was a fear that huge banks would fail and ATMs would stop spitting out cash.  Satoshi might have been thinking about rampant money printing, but who knows? 

I still don't see bitcoin as a safe-haven, go-to asset in times of trouble type of investment, and the only reason I say that is because of how volatile it is.  When I think of safe-haven assets, I think of gold and silver which tend to hold their value and even increase when shit hits the fan on Wall Street.  But bitcoin?  It's just over 10 years old and doesn't have a track record (yet) of providing a safety net for investors when they want to get out of stocks and/or cash.  Sure, everything is looking very rosy at the moment but we all know bitcoin could plummet in the blink of an eye.  It's happened many times before and I've no doubt it'll happen again.

Bitcoin has been tested many times and it proved to be worth over fiat.

People are investing because they loss faith on fiat, and though there's a lot of manipulation happening in the market, but for long term or on overall average, we still can't deny that bitcoin is quite profitable. It may dump now but it's not serious as eventually it will rise over time, unlike on fiat where when the economy is down, inflation will hit and will take time to recover, even possible it will not anymore recover.

Decentralized currency is the money of the people, we are in control of this, so we are safer as long as adoption continues.

Just like what happened to many countries experiencing a high percentage of inflation, this can happen to any country so make sure that you do necessary action to counter inflation, or at least to secure some good investment. Cryptocurrency is a big thing, this can be a big help during that collapse, I hoping that many are starting to realize this and adopt bitcoin as much as possible.

They will blame Covid-19 but the system was allready broken long before that.

If you take these situation into account, we are seeing huge investments from corporate and institutional investors in recent times and the worrying economic situation globally during and after the pandemic must be the real reason many are using the bitcoin market as a hedge if something bad happens. If not there is no way billions are pouring in just recently when there were ample time to accumulate before the pandemic.

If there is a financial crisis you might see the reflection in every sector and that includes the cryptocurrency market but we might see huge investments as well.

You dont need hyperinflation to lose. Just few % price inflation every month adds 100% in few years. You money value halve. Not to mention that keeping that money in a bank will give you negative interest rate. This will happen for sure.

the existence of BTC looks as if planned because it was revealed right after the economic crash in 2008. from then on satoshi must have seen the future that it will keep going until BTC will save the people from the crash that will keep on going over and over. printing is inevitable though, when businesses shut down, there are just a few options to make the economy running but printing more of the USD.

Institutional investors surging in Bitcoin and Adding more positions during the is a good sign that they are slowly transitioning there investment from stocks to crypto market. No one can accurately predict on what will be the behaviour of cryptomarket when global economy collapse but one thing is for sure, Cryptomarket will sure recover if ever collapse will affect crypto too.

that's a common mistake, USA didn't print that much money they minted it. that is why even after this many months we haven't seen the economy be destroyed yet and why we aren't feeling the inflation. but the money they minted is going to slowly enter the circulation and showing its effects. in other words the inflation is inevitable no matter what US does but it will happen slower.

Along with criticism, whether the impact of the current massive correction is a result of these problems, because when referring to timeframes, there is some kind of concern that traders have. we hoped the hyperinflation of the dollar would exceed the limit if the printing was duplicated. printing money for one reason only, it would be obvious that the dollar value and confidence were weakening.

Bitcoin is only a part of the markets for now, and that was more than clearly visible last year in March when everything collapsed - has Bitcoin avoided a general collapse? Printing money has always been the solution in times like the present - but it is actually the only mechanism governments have to prevent a total collapse of the system. Each system rests on at least three axes - police + army + employment and income of all citizens.

If people don't have jobs, they don't have income, they don't have basic necessities - they will take to the streets and start protests - and then the government must use the police and maybe even the army to keep control. The problem is when the army and police do not want to clash with the people, which means that they no longer support the current government.

That is why every government wants to give the people bread and games, as was the case in ancient Rome - and pay the police and army well to be loyal to the government. I believe that the US administration will not allow any hyperinflation, they are simply too smart to lose control - if anyone has to pay the price, it certainly won’t be them.

Excessive money printing always lead to hyperinflation, but there is nothing official stating more money has been printed to overcome the economic situation prevailing within the country. United States being one of the much affected country due to the covid-19. Today the officially calculated death count have come close to half a million.

Criticisms were common with bitcoin and the different economic policies of the country. However the cryptomarket is getting mainstream, that is just because of the common man believing in it as the safe haven against the paper money.

i am also starting to believe that , he/she created bitcoin inspired from 2008 financial crisis, without banking inside the bitcoin system which mean its depend on demand by people , no one can really control the price. Lately, big instution come in seems like signal , signal do they believe its a kind of investement , or signal for fall together.

Mr. Satoshi created Bitcoin with the future in mind. He was very ingenious without a doubt and he has left us a great contribution to humanity. Now the most notable men of science and technology have joined his philosophy to continue defending our ideals and what can be the solution of the global economy. We have opened our eyes and we have realized that centralization has so much power that it manipulates us. With bitcoin we are free because it gives us the power to choose thanks to decentralization. In addition to the magnificent creation of bitcoin there are the other coins that is a family.

Some may not agree with me, but without altcoins, cryptocurrencies would be difficult to acquire for some.
Today cryptocurrencies are accessible to everyone at least for those where their countries have banned bitcoin.
I think that bitcoin will be acquired by more institutions as a store of value and for daily transactions the altcois will be of greater use is my point of view based on my own experience.

During the pandemic Bitcoin experimented a crash like most of the assets (Gold included), but since then institutions started to use it to hedge against fiat inflation. But we don't really know if they are doing this mainly for the capital appreciation or to actually hedge their cash balances.

Given the features of Bitcoin I'd say it is a perfect candidate for a crisis safe-haven and not only, but what I think is not that important. What matters is what the market thinks