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Topic: Bitcoin in the Event of a Global Economic Crisis - page 2. (Read 353 times)

member
Activity: 1302
Merit: 25
it'll survive no matter what, but how well the price fares is a matter of time. if a global financial crisis began tomorrow, i think bitcoin would fall on really hard times. if the crisis begins 20 years from now (after bitcoin has grown exponentially network-wise and matured as an asset class), i think it will hold its value much better. maybe we'll find some middle ground between these two scenarios.

I also believe it will very well survive if a crisis creeps up in 20years time as you have made the analogy. However, my issue about such crisis (if something like warfare), will disturb network facilities but if for just economic crisis, bitcoin will survive because it would have been around the breadth and width of the world.
legendary
Activity: 3276
Merit: 2442
The Dollar is going to make one last moon shot before it collapses. Just like supernova. Bitcoin will survive no matter what happens but it is not going to moon right away.

The FED prints USD constantly but people still refuse to spend. Actually, most people don't even get that printed money so they can spend. The newly printed money goes to the uber rich people instead.

This is going to blow up so bad but like I said, despite all the money the FED has printed, just because those elites refuse to distribute the money, the dollar liquidity will dry out and it'll moon... and go zero.

BTC will collect what's left from those noobs.
full member
Activity: 658
Merit: 117
I strongly believe the situation in Venezuela is a test tube evidence of what might happen in the event of a wide scale economic depression, but what's unclear at this point is how other cryptocurrencies will fare at that point. While a success story for bitcoin might reflect on crypto as a whole, we may have a new set of problems, new investment vehicles and the risk of being exposed to more fraudulent crypto-related activities, which will in turn ripple back to bitcoin.
legendary
Activity: 2590
Merit: 1882
Leading Crypto Sports Betting & Casino Platform
In the face of a great financial holocaust it is likely that before they think about Bitcoin, they will take refuge in gold shares, gold represents security and a great support, some investors will also go for bitcoin, thus giving a golden opportunity to the technology, that is why at the time of a financial holocaust, you must take necessary precautions, such as the possible failure of electricity and in turn that the Internet service falls, and without internet, the bitcoin would not make sense, I could trade, I think you should have diversification plans in front of these possible problems that may occur.
legendary
Activity: 2170
Merit: 1427
When it comes, I'd rather have Bitcoin than not.

Same here. I am honestly not sure what will happen with Bitcoin when a crisis hits the world in terms of value, but there just isn't a way to hedge against it when you know there is a possibility that everything will go down hard.

I can only try to hedge against my government and its shitty fiat currency that keeps going down in value, and that for me is more than enough protection. Bitcoin is a must have in your portfolio nowadays, but not everyone understands that yet. If people did, Bitcoin would be trading closer to $100,000 by now, so we have more time to accumulate at fair prices. Smiley
legendary
Activity: 3808
Merit: 1723
Bitcoin might play a bigger roll in certain countries with severe hyper inflation like Venuzuala during a financial crisis and play the complete opposite roll in first world nations like the USA.

Many people assume that everybody will be selling stocks and buying Bitcoin however Bitcoin is known as a highly risk-on asset, and those usually get sold-off during recessions. Also nobody will want to buy BTC when they saw how it went from $20K to $3K very quickly when in fact most stock market crashes never ended this badly before.

Also I don't think we are near a recession. People have been saying this since 2010 that a recession is coming and we had the biggest stock market bull run since 2009.
legendary
Activity: 1806
Merit: 1521
On the other hand, a crisis means economic hardship. It means no jobs. No business. My friends and family, they're not Bitcoiners. They will be hit hard, and therefore, so will I.

Bitcoiners will be hit hard too. They'll be losing their jobs or seeing their businesses decline just like everyone else. They'll be pressured to sell their bitcoins just like others will be pressured to sell their stocks. Very few bitcoiners are filthy rich from investing in the early years. Most are just regular folks who will see their portfolios and savings decline and will need to tighten their belts.

That not only means increased selling pressure for Bitcoin but also a reduction in demand. If people are increasingly worried about being able to pay their rent/mortgage and putting food on the table, that means less disposable income for speculative investments like Bitcoin.
legendary
Activity: 3038
Merit: 1169
I really think that bitcoin will not be affected that much by the Global Economic Crisis, There might be a downfall for the price but not that ultimate drop because some Fiat losses its value, I really think we can see an intact value of bitcoin I can see that the price is still large compared back then where we can see only a three digit value for bitcoin I really think that is a good opportunity as well for people to know that bitcoin is really a good investment for your future needs and because Cryptocurrency is a separate currency between every fiat out there, But still even though we're gonna have an Economic Crisis Cryptocurrency will not simply replace fiat and in my opinion it will surely gonna stay the same.
hero member
Activity: 1022
Merit: 538
I think I have mentioned this before but I like talking about it, the money people have and they can use to buy bitcoins will not be available during a GFC and because they do not have that much money than they will not be able to buy bitcoin too much. However at the same time, since dollar will lose value and people will want more money for their bitcoin the price will go up as well. Which means we will see less volume on bitcoin during a GFC however we will see the price going up.

It will create a very volatile bitcoin but it will also have a high price bitcoin. To think that bitcoin will come out of a GFC unharmed at all and even stronger is naive, you need to react to whats happening around you and just be affected less than they were affected which would be more than enough to show bitcoin is truly a great investment option.
legendary
Activity: 1638
Merit: 1163
Where is my ring of blades...
this has been discussed multiple times here before and I still think it is impossible to predict what will happen to bitcoin although I am leaning towards a rise in case of a global economic crisis.

but also I would say, like before, that it can greatly depend on the timing. we have seen how bitcoin has some kind of cycles when it comes to its price. it is always an overly excited big rise followed by another over excited (or depressed) correction before it is repeated again and price ends up at a higher level.
so if the "crisis" occurs during that rise, the price can shoot up to the moon much faster and bigger than a normal time and if it occurs during that downtrend we may see it become faster and bigger.

as for survival, it is obvious that bitcoin will survive in my opinion. it is not something that can be killed just because there some crisis in a sector unrelated to bitcoin as a global currency!
legendary
Activity: 2968
Merit: 3684
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I feel in two ways about this. On one hand, guys like us in Bitcoin might feel we have a better chance of seeing things go well for us. That's not guaranteed though. End of the day, money flows into bitcoin and if money isn't doing well, it's not flowing.

On the other hand, a crisis means economic hardship. It means no jobs. No business. My friends and family, they're not Bitcoiners. They will be hit hard, and therefore, so will I.

I'm certain we are headed for another crisis, it comes every decade or so, and seems to reverberate globally... So like it or not, we'll be in the thick of it.

When it comes, I'd rather have Bitcoin than not.
legendary
Activity: 3710
Merit: 1170
www.Crypto.Games: Multiple coins, multiple games
since bitcoin is not yet corrupted by the government or the banks and they are responsible for the economic crisis, there is no argument about bitcoin's survival! it is obvious it will survive.

the only question that is worth discussing is whether bitcoin price is going to shoot up to millions because of the crisis or will it not be impacted?
As bitcoin falls into the category of alternate investment vehicles, like gold, bitcoin also will remain undisturbed by governments and federal banks forever which may be the enough reason why bitcoin price will fly when people will lose their faith on their government and primary investment vehicles. An economy crisis will happen when money flow is getting affected then people look for securing their saving into alternate opportunities and with 10 years of successful run, I believe bitcoin may satisfy people with its decentralized characteristics.

As per few economists that another global economic crisis may not possible in near future but a slow down may happen as new innovations are lacking to keep money flow intact. Due to negative populations in many developed countries, such slow down is expected and manageable hence bitcoin may not get any chances to prove its strength in near future and may grow on its own ways and pace.
legendary
Activity: 1372
Merit: 1032
All I know is that I know nothing.
i still don't understand why some people insist on saying or believing that bitcoin was created to "replace" fiat! bitcoin is the alternative not the replacement.

Will Bitcoin really survive the next financial holocaust?

since bitcoin is not yet corrupted by the government or the banks and they are responsible for the economic crisis, there is no argument about bitcoin's survival! it is obvious it will survive.

the only question that is worth discussing is whether bitcoin price is going to shoot up to millions because of the crisis or will it not be impacted?
legendary
Activity: 1652
Merit: 1483
What will happen in the event of another global financial crisis (GFC), as it is speculated that a GFC is meant to cycle in about a decade. According to Bitmex, the next wave of a GFC should truly test Bitcoin as a store of value, and I agree.

https://blog.bitmex.com/anatomy-of-the-next-global-financial-crisis/

Will Bitcoin really survive the next financial holocaust?

it'll survive no matter what, but how well the price fares is a matter of time. if a global financial crisis began tomorrow, i think bitcoin would fall on really hard times. if the crisis begins 20 years from now (after bitcoin has grown exponentially network-wise and matured as an asset class), i think it will hold its value much better. maybe we'll find some middle ground between these two scenarios.

the wild card is whether fiat currencies like the USD or EUR maintain confidence through all of this. if they were to collapse, hard money like gold and bitcoin would see a massive influx of investment IMO.
full member
Activity: 658
Merit: 117
Crypto pundits believe it's a replacement for fiat and soon to conquer the world financial system. Well, there's a fairly stable economy as it is, and since "the epicenter of financial risks have shifted from the banks to asset management industry," it's important to ponder on some reality checks while the digital asset industry is plagued with the bear.

What will happen in the event of another global financial crisis (GFC), as it is speculated that a GFC is meant to cycle in about a decade. According to Bitmex, the next wave of a GFC should truly test Bitcoin as a store of value, and I agree.

https://blog.bitmex.com/anatomy-of-the-next-global-financial-crisis/

Will Bitcoin really survive the next financial holocaust?
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