Cryptocurrency in the next financial crisis

Boov

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Quote from: CryptoDoomslayer_69 on October 15, 2019, 12:36:54 PM

Life is rather uncertain nowadays as anything can happen at any time and we would be caught off guard. That’s also one way to describe the current economy at this stage. With the world’s economy expanding and expanding there have been more crashes as the years go by and they are becoming more frequent and some say at any moment one could happen.

So you are left with a situation in which the money you currently own, fiat money: the dollar bills & coins, will become worthless and you cannot even buy anything you need to survive on a day to day basis. In this situation, people will have to resort to a system of bartering like in the stone ages. I guess if you have a lot of stuff with value you can trade that would be great, but a majority of people don’t have such a stash. Things can get ugly real fast.

Therefore, in such a doomsday situation you have to come up with a situation in which you can trade with people in order to survive. There are two solutions I can come up with, either using precious metals such as Gold & Silver or using Cryptocurrency. Considering that fiat currency is useless, Cryptocurrency might raise in value so that it can be useful as a means of trade as long as the Internet still exists which will most likely be the case.

If we have financial cris I think that the crypto can help us because we all know that trading is the most easiest, efficient and shortest way to earn money. So if we want to earn money in a shortened period of time I suggest that trading is the best way. It can fulfill our financial problem and it can help us to pay our bills.

AllMightMinez

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Keep an eye on the market, DYOR, read blogs like OKEX blogs.

South Park

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Quote from: mazdafunsun on October 28, 2019, 02:45:29 PM

You are inflating the potential negative effects of financial crisis. Yes, the FIAT will become less valuable in case of crisis but it will not crash to such levels that people will not be able to afford anything, just look back to last crisis. Was it so depressing as you want to tell us? No, the regualtary instutions took steps to regulate the situation. Cryptos should get a good boost in those times.

Things didn't get that bad because as you state the crisis was averted but we have seen many cases through history in which the government was unable to stop the financial crisis they were going through and when that happens things get really ugly, now there are some people out there that think things will never get that bad but that is a classic case of people thinking that this time will be different, that this time we have finally master the way to print fiat without any consequences and each time history has proved them wrong.

AGroose

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Cryptocurrency will become one of the means of preserving capital, but for ordinary people. Institutional investors still prefer gold because it exists. The question is what percent of the money will flow into Bitcoin. And do not forget that after the crisis, money from cryptocurrencies can also quickly leave and the exchange rate will collapse again.

error08

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Quote from: CryptoDoomslayer_69 on October 15, 2019, 12:36:54 PM

Therefore, in such a doomsday situation you have to come up with a situation in which you can trade with people in order to survive. There are two solutions I can come up with, either using precious metals such as Gold & Silver or using Cryptocurrency. Considering that fiat currency is useless, Cryptocurrency might raise in value so that it can be useful as a means of trade as long as the Internet still exists which will most likely be the case.

Economics recession is different from doomsday, fiat will still worth something as long as a country still has something as back up such as gold reserve.
The most important thing should be the agriculture industry to provide enough food for citizens.
Doomsday will happen after the nuclear war, which means the internet will go down i.e vanish, so does bitcoin.
in this case, even gold will lose a lot of its value, food and clean water are the 2 most important commodities, that's why if you watch National Geographic where some people prepare for the doomsday, they built fortresses, equipped with weapons in order to protect themselves and their food supplies from others.

Murat

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I don't think so, Following your statement, I have some different observations in this issue, I don't know why you are saying that Fiat is becoming worthless and gold and silver should be used for the payment purpose, I think everything is going on an average margin, Still cryptocurrency is in an early stage so it requires time to get up alone, It's also true that when cryptocurrency will get accepted around the whole world then it might be the precious thing in comparison to fiat money. but this is not the perfect time, but I don't compare gold or silver to the cryptocurrency, I think those materials have more acceptance rather than crypto, in the future cryptocurrency will be the main thing. so cryptocurrency will dominate in the market.

hello_good_sir

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Quote from: Hypnosis00 on October 28, 2019, 04:42:08 PM

Quote from: Reosta_ on October 28, 2019, 04:04:18 PM

I think there will be a some kind of war between cryptocurrencies and gold in a possible economic crisis. Cryptocurrencies are more popular in the last years but gold is in a stronger condition now. But because of the popularity, especially Bitcoin will be preferred highly I think.

You can simply think that people will use crypto than metals just like gold for the reason that gold isn't a currency. I believe it was not about popularity and value, people will use crypto as the second option over fiat money cause that's the only we have in order to survive once that doomsday may come. We can only trade gold for money, I believe also for food but I don't know if we can make this in other stuff.

But if we face reality, it somehow to think that even crypto can be no longer to use when we are deeply in crisis.

If you're comparing gold and sliver to a bitcoin and cryptocurrency, you're comparing a speculative and extremely risky investment with another one that is literally known and popular due to its stability. Not a fair comparison, especially when Satoshi's vision with bitcoin was a coin that was actually about to be spent and used in the world, away from the restrictions of the bank.

In a financial crisis, where everything goes to shit, crypto-currencies, fiat, and even gold to an extent would be very worthless - having the essentials would be essential here.

Asmonist

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Financial crisis is a very fearful time. Before it could happen its time to save and invest now for emergency cases like that. Crypto currency is also good to invest now or save for now where it is possibly be the future currency. Its better to have diversified currency to have more options and funds to use whenever that financial crisis will happen.

Hypnosis00

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Quote from: Reosta_ on October 28, 2019, 04:04:18 PM

I think there will be a some kind of war between cryptocurrencies and gold in a possible economic crisis. Cryptocurrencies are more popular in the last years but gold is in a stronger condition now. But because of the popularity, especially Bitcoin will be preferred highly I think.

You can simply think that people will use crypto than metals just like gold for the reason that gold isn't a currency. I believe it was not about popularity and value, people will use crypto as the second option over fiat money cause that's the only we have in order to survive once that doomsday may come. We can only trade gold for money, I believe also for food but I don't know if we can make this in other stuff.

But if we face reality, it somehow to think that even crypto can be no longer to use when we are deeply in crisis.

IslaAde

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I agree Cryptocurrency is the best right now

Reosta_

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I think there will be a some kind of war between cryptocurrencies and gold in a possible economic crisis. Cryptocurrencies are more popular in the last years but gold is in a stronger condition now. But because of the popularity, especially Bitcoin will be preferred highly I think.

mazdafunsun

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You are inflating the potential negative effects of financial crisis. Yes, the FIAT will become less valuable in case of crisis but it will not crash to such levels that people will not be able to afford anything, just look back to last crisis. Was it so depressing as you want to tell us? No, the regualtary instutions took steps to regulate the situation. Cryptos should get a good boost in those times.

Expecto

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Most people thinks that economic crisis will avail for cryptocurrency market. I think the same too but I can not be sure of anything when it comes to cryptocurrencies. But it seems more sensible considering that fiat currencies will have hard days.

GideonGono

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Quote from: Wysi on October 24, 2019, 03:03:11 AM

Quote from: jarhed on October 24, 2019, 02:21:39 AM

The financial crisis may also negatively affect the cryptocurrency market, because as a rule all assets fall in value. I think that there is a good chance that cryptocurrency assets will also fall in value.

No I don't think this is a financial crisis and neither this bearish market last longer I am sure things will improve post bitcoin halving and once the value of bitcoin starts increase the entire crypto market will be back on track as we have witnessed numerous crisis like this. Kindly be sure about the post as this might create more FUD.

And also when you check the history of bitcoin you can observe that is normal and the price of the old bitcoin is less than a dollar so it is not a bitcoin or cypto crisis because the market can control by the investor and also the whale.

there are some issue regarding bitcoin and it is not good to have a unstoppable increasing of the price of bitcoin so it means that the price was good.

Wysi

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Quote from: jarhed on October 24, 2019, 02:21:39 AM

The financial crisis may also negatively affect the cryptocurrency market, because as a rule all assets fall in value. I think that there is a good chance that cryptocurrency assets will also fall in value.

No I don't think this is a financial crisis and neither this bearish market last longer I am sure things will improve post bitcoin halving and once the value of bitcoin starts increase the entire crypto market will be back on track as we have witnessed numerous crisis like this. Kindly be sure about the post as this might create more FUD.

jarhed

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The financial crisis may also negatively affect the cryptocurrency market, because as a rule all assets fall in value. I think that there is a good chance that cryptocurrency assets will also fall in value.

enhu

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Quote from: South Park on October 23, 2019, 03:22:42 PM

Quote from: Reosta_ on October 22, 2019, 03:49:10 PM

Quote from: CryptoDoomslayer_69 on October 15, 2019, 12:36:54 PM

Life is rather uncertain nowadays as anything can happen at any time and we would be caught off guard. That’s also one way to describe the current economy at this stage. With the world’s economy expanding and expanding there have been more crashes as the years go by and they are becoming more frequent and some say at any moment one could happen.

So you are left with a situation in which the money you currently own, fiat money: the dollar bills & coins, will become worthless and you cannot even buy anything you need to survive on a day to day basis. In this situation, people will have to resort to a system of bartering like in the stone ages. I guess if you have a lot of stuff with value you can trade that would be great, but a majority of people don’t have such a stash. Things can get ugly real fast.

Therefore, in such a doomsday situation you have to come up with a situation in which you can trade with people in order to survive. There are two solutions I can come up with, either using precious metals such as Gold & Silver or using Cryptocurrency. Considering that fiat currency is useless, Cryptocurrency might raise in value so that it can be useful as a means of trade as long as the Internet still exists which will most likely be the case.

There is an economic crisis that is sighted on horizon. When it comes, fiat currencies will have big difficulties. People will start a search for alternatives to fiat currencies. Then, more people will discover cryptos and especially Bitcoin. And the demand for Bitcoin will start to increase very fast.

While the demand for bitcoin at that point will increase significantly the real action will happen on the supply side of the equation, what are going to do all of those people that are holding bitcoin? Many speculate that they will sell their coins but I cannot see the point of that, why would you get out of a coin that everyone wants and get a coin that no one wants, most likely what will happen is that those that are holding bitcoin will keep holding it and will only exchange it for stuff of real value.

Like buying food or probably gasoline. But its likely to also not buy BTC instead since they can directly buy those stuff with the current fiat, prices of the daily commodities will be a lot higher by the time there is crisis too. Investing could be the last thing in their minds when there is crisis, all they want is just to stack supplies as much as they could to fill their cabinets with sugar and can goods. The only who will hold BTC are the ones who already have before the crisis.

South Park

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Quote from: Reosta_ on October 22, 2019, 03:49:10 PM

Quote from: CryptoDoomslayer_69 on October 15, 2019, 12:36:54 PM

Life is rather uncertain nowadays as anything can happen at any time and we would be caught off guard. That’s also one way to describe the current economy at this stage. With the world’s economy expanding and expanding there have been more crashes as the years go by and they are becoming more frequent and some say at any moment one could happen.

So you are left with a situation in which the money you currently own, fiat money: the dollar bills & coins, will become worthless and you cannot even buy anything you need to survive on a day to day basis. In this situation, people will have to resort to a system of bartering like in the stone ages. I guess if you have a lot of stuff with value you can trade that would be great, but a majority of people don’t have such a stash. Things can get ugly real fast.

Therefore, in such a doomsday situation you have to come up with a situation in which you can trade with people in order to survive. There are two solutions I can come up with, either using precious metals such as Gold & Silver or using Cryptocurrency. Considering that fiat currency is useless, Cryptocurrency might raise in value so that it can be useful as a means of trade as long as the Internet still exists which will most likely be the case.

There is an economic crisis that is sighted on horizon. When it comes, fiat currencies will have big difficulties. People will start a search for alternatives to fiat currencies. Then, more people will discover cryptos and especially Bitcoin. And the demand for Bitcoin will start to increase very fast.

While the demand for bitcoin at that point will increase significantly the real action will happen on the supply side of the equation, what are going to do all of those people that are holding bitcoin? Many speculate that they will sell their coins but I cannot see the point of that, why would you get out of a coin that everyone wants and get a coin that no one wants, most likely what will happen is that those that are holding bitcoin will keep holding it and will only exchange it for stuff of real value.

joinfree

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1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

You have a very strong point though it might look a bit difficult to occur. So many currencies are struggling in the internation market. For instance in most African countries a dollar is about 5x worth their currency which is bad. The worst of it all, most of them are huge importers other than exporters further worsening their currency. If things are to down fast i think African countries would suffer the most

DatKing

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Quote from: CryptoDoomslayer_69 on October 15, 2019, 12:36:54 PM

Life is rather uncertain nowadays as anything can happen at any time and we would be caught off guard. That’s also one way to describe the current economy at this stage. With the world’s economy expanding and expanding there have been more crashes as the years go by and they are becoming more frequent and some say at any moment one could happen.

So you are left with a situation in which the money you currently own, fiat money: the dollar bills & coins, will become worthless and you cannot even buy anything you need to survive on a day to day basis. In this situation, people will have to resort to a system of bartering like in the stone ages. I guess if you have a lot of stuff with value you can trade that would be great, but a majority of people don’t have such a stash. Things can get ugly real fast.

Therefore, in such a doomsday situation you have to come up with a situation in which you can trade with people in order to survive. There are two solutions I can come up with, either using precious metals such as Gold & Silver or using Cryptocurrency. Considering that fiat currency is useless, Cryptocurrency might raise in value so that it can be useful as a means of trade as long as the Internet still exists which will most likely be the case.

I think cryptocurrencies will be too valuable in an economic crisis. I have some Bitcoin and I think of buying more and store them. I see Bitcoin as a good investment tool like gold.

Topic: Cryptocurrency in the next financial crisis (Read 836 times)