If anyone is trying to peddle the ridiculous notion that BLM protests are a significant contributor to the economic issues in the US and other western countries, I'd genuinely like to know what their real agenda is. Call that bullshit out wherever you see it happening, because it's not a cause for the looming recession. If anything, protests over institutionalised racism and classism are one of the symptoms of a broken economy, not the cause. Whoever is spreading the false narrative that protests are somehow causing the economy to fail is clearly trying to deflect from the real problem. Yet another shameful attempt to shift blame and scapegoat the victims. It's a common divide and conquer tactic.
Also, this topic would probably be more at home in the economics board, since it has very little to do with Bitcoin.
Topic: Current US Economic Catastrophe Caused by Anti-Racism Movement has Impact on BTC (Read 644 times)
June 10, 2020, 12:57:43 PM
June 07, 2020, 09:35:53 PM
Well, but I still have no idea about how anti-racism movement effects Bitcoin.
legendary
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June 07, 2020, 02:00:21 PM
We might see a global economic collapse if the US government cannot control the crowd that is rampaging on the streets. If the USD falls then the American government cannot pay their debts and will result with a huge hole in world banks balance sheet that could even affect other countries resulting into much bigger financial crisis.
yeah exactly, you got my point. The US economy was the most powerful and well-organized economy in the world. If united states were to face an economic catastrophe, it is natural that it will have repercussions all over the world, this is the only reason why we may see a catastrophic crash in the crypto market.
June 07, 2020, 04:25:07 AM
this issue of racism is going to the political side with some TV channels promoting more fighting so that their political supporters win elections or get more members for their parties, if people read this:
https://edition.cnn.com/us/live-news/george-floyd-protests-06-07-20/index.html
is being a political campaign to overthrow political opponents and the people are being used for purposes that they don't even suspect. Whether this closes it or not bitcoin is something that will depend on whether we know how many people are posting bitcoin photos during the manifestation and whether news channels like CNN and BBC are talking about bitcoin or not. although I would be happy that bitcoin does not get into that subject
https://edition.cnn.com/us/live-news/george-floyd-protests-06-07-20/index.html
is being a political campaign to overthrow political opponents and the people are being used for purposes that they don't even suspect. Whether this closes it or not bitcoin is something that will depend on whether we know how many people are posting bitcoin photos during the manifestation and whether news channels like CNN and BBC are talking about bitcoin or not. although I would be happy that bitcoin does not get into that subject
June 07, 2020, 03:54:55 AM
USA is facing the biggest economy catastrophe in history as a result of this movement and the coronavirus epidemic. It is conceivable we will see the impact in the Crypto market in the next few months, a terrible catastrophe is approaching.
The US was facing the crisis without the movement, and I don't think this will add much to it. But even if it does, the impact of the crisis on Bitcoin price will probably be compensated by the impact of some protesters promoting Bitcoin. So in the end, I don't think Bitcoin will see much of a change of the price due to these protests, positive or negative. The protests are currently very active, maybe at their peak even, and yet the change of the price of Bitcoin over the last 7 days is -0.3% which is extremely nonvolatile for Bitcoin. June 06, 2020, 02:19:18 PM
No correlation between the protest and bitcoin price. The protest was hijacked by some anti-Trump rivals which led to looting. Peaceful protest is okay, but looting the shops of common civilians is economically bad for us all.
June 06, 2020, 11:16:47 AM
There was a thread in the Bitcoin Discussion section yesterday that somehow linked the oppression allegedly experienced by African-Americans in the US to Bitcoin. There may indeed be a link somewhere. But I guess we need to make a huge leap first in order to find that.
We have seen how Bitcoin has been linked to all kinds of things happening around us: the violence in Iran, the fall of oil prices, the spread of COVID-19, and so on and so forth.
This is just one of them.
For all we know, the underlying reason of this current US economic catastrophe is not really the anti-racism movement but the economic impact brought by this pandemic.
We have seen how Bitcoin has been linked to all kinds of things happening around us: the violence in Iran, the fall of oil prices, the spread of COVID-19, and so on and so forth.
This is just one of them.
For all we know, the underlying reason of this current US economic catastrophe is not really the anti-racism movement but the economic impact brought by this pandemic.
Racist issues and riots have often occurred before, only this time more blow up by many parties because it coincided with the November elections and the interests of many parties both at home and abroad to bring down Trump. Bitcoin is used as a symbol of rebellion and protest against the existing system that is considered flawed.
Vaccines have not yet been discovered as the ultimate weapon in stopping the corona pandemic and the final uncertainty of the pandemic has indeed made the economy stagnate. If the pandemic ends quickly then we will only be hit by a storm of recession if the pandemic lasts longer with extended lockdowns then the economy will face a storm of depression if the pandemic does not end then we must beware of the tsunami great depression.
Therefore, many countries have begun to open their economies even though the corona has not touched the culmination point. with concern that the longer the stagnation will occur deeper and heavier the economy can be raised.
June 06, 2020, 11:09:02 AM
Black lives matter,
Yes it does..
But, every other life also matters...
Your life, my life , every life matters but, covid19 does not believes in that. It only thinks about eating that life.
Do you understand what it can do if you do not follow social distancing. If not then go to your nearest hospital and wait outside. The dead body van might help you understand.
Yes it does..
But, every other life also matters...
Your life, my life , every life matters but, covid19 does not believes in that. It only thinks about eating that life.
Do you understand what it can do if you do not follow social distancing. If not then go to your nearest hospital and wait outside. The dead body van might help you understand.
legendary
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June 06, 2020, 10:22:43 AM
USA is facing the biggest economy catastrophe in history as a result of this movement and the coronavirus epidemic. It is conceivable we will see the impact in the Crypto market in the next few months, a terrible catastrophe is approaching.
How is it that crypto market will be affected from the economy (negative or positive) of any country particularly in the US?Actually, I didn't mean that, but as we have seen many times before, the price of BTC goes up with the growth and decline of the USA economy, I think BTC price plummeted as the us economy collapsed due to the recent coronavirus epidemic.
It is conceivable we will see the impact in the Crypto market in the next few months, a terrible catastrophe is approaching.
What if the current charts that we're experiencing has its relation to it? maybe yes and no. There's something with S&P and bitcoin, can't say that it's a full connection but movements seen can be said that there is.It has nothing to do with directly, but it will has an effect indirectly. as we can see from previous analysis. I read this news last week and was very amazed..
Quote
"The COVID financial crisis is the first crisis that Bitcoin is experiencing as an asset class, and while some expected it to perform similar to gold, it led to a sharp decline in Bitcoin's price."
Source: Cointelegraph
June 05, 2020, 02:02:38 AM
there may be some small changes in bitcoin market which would then affect the altcoin market too but the emphasis is on "small" since this is not something that could really change anything about bitcoin and its price. only short term excitement and some manipulators enjoying their day trade profits.
however, if we see the next economic crash (a recession) due to the pandemic or the chaos in US in general, then things could be very different. but i don't think we can predict how bitcoin is going to perform during a recession. i personally think we can see an initial drop followed by a massive rise.
however, if we see the next economic crash (a recession) due to the pandemic or the chaos in US in general, then things could be very different. but i don't think we can predict how bitcoin is going to perform during a recession. i personally think we can see an initial drop followed by a massive rise.
legendary
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June 05, 2020, 01:33:24 AM
~
I don't see any archive/history articles, or wiki that he is an NBA player present nor previous, can you link where it was stated?Oh boy! I didn't notice that, He had a very good relationship with NBA players, I also saw his photos in a few articles, George Floyd was a talented athlete who particularly excelled in football and basketball at school. Seeing his photos with NBA players I thought he might be an NBA player.
He was a good friend to an ex NBA player. I will look for link. Ex-NBA player Stephen Jackson was a life long friend of George see link below:
https://www.nbcnews.com/news/us-news/ex-nba-player-stephen-jackson-mourns-best-friend-george-floyd-n1216386
Now that is cleared up.
It would be nice if I could fix the hundreds of year of racial hate in my country just as easily as I fixed the error about George being an ex NBA player.
Sadly I can't.
https://www.nbcnews.com/news/us-news/ex-nba-player-stephen-jackson-mourns-best-friend-george-floyd-n1216386
Now that is cleared up.
It would be nice if I could fix the hundreds of year of racial hate in my country just as easily as I fixed the error about George being an ex NBA player.
Sadly I can't.
Exactly, I saw many photos of him with NBA players in the newspaper that's why I thought he might be NBA player.
June 05, 2020, 12:03:50 AM
I think that Asian countries like Japan and South Korea have a bigger influence over the Bitcoin price than USA.The US financial and economic crisis might spread around the world as a second wave of a global economic crisis,after the corona recession.Nothing is certain and I think that it's totally wrong to act as a prophet of the Apocalypse and spread FUD about some incoming collapse.Many economists are pretty optimistic about the fast recovery from the corona crisis.The oil prices are going up and the markets were green.
June 04, 2020, 11:48:39 PM
~ USA is facing the biggest economy catastrophe in history as a result of this movement and the coronavirus epidemic. It is conceivable we will see the impact in the Crypto market in the next few months, a terrible catastrophe is approaching.
Remains to be seen but the way you worded this sounds like anarchy is coming.The pandemic has taken its toll on people and a lot of them probably used this protest to vent their frustrations. My guess is that more good citizens will start helping the law enforcement to fight looters soon. Order will be restored and the peaceful protest will continue.
There was a thread in the Bitcoin Discussion section yesterday that somehow linked the oppression allegedly experienced by African-Americans in the US to Bitcoin. There may indeed be a link somewhere. But I guess we need to make a huge leap first in order to find that.
This?We have seen how Bitcoin has been linked to all kinds of things happening around us: the violence in Iran, the fall of oil prices, the spread of COVID-19, and so on and so forth.
This is just one of them.
Exactly. Anything that can be connected to money and economy will be connected to bitcoin somehow. It's the usual "economy in crisis and investors will choose bitcoin as safe haven". This is just one of them.
June 04, 2020, 09:38:13 PM
There was a thread in the Bitcoin Discussion section yesterday that somehow linked the oppression allegedly experienced by African-Americans in the US to Bitcoin. There may indeed be a link somewhere. But I guess we need to make a huge leap first in order to find that.
We have seen how Bitcoin has been linked to all kinds of things happening around us: the violence in Iran, the fall of oil prices, the spread of COVID-19, and so on and so forth.
This is just one of them.
For all we know, the underlying reason of this current US economic catastrophe is not really the anti-racism movement but the economic impact brought by this pandemic.
We have seen how Bitcoin has been linked to all kinds of things happening around us: the violence in Iran, the fall of oil prices, the spread of COVID-19, and so on and so forth.
This is just one of them.
For all we know, the underlying reason of this current US economic catastrophe is not really the anti-racism movement but the economic impact brought by this pandemic.
June 04, 2020, 09:14:21 PM
There should be no place for racism anywhere and it is my firm belief that any society should be dealing with this problem as a united entity or organism rather than be divided and be using the same as an excuse for other violent acts which can only make things much worse. Of course, there can be some who have the agenda of rocking the whole boat and they are using this sad incident as an opportunity. The question is: Is there really a correlation that when a big country like USA can be undergoing many crisis, it can positively impacting Bitcoin?
June 04, 2020, 09:04:46 PM
Dude was a Truck Driver and a Security Guard. Damn, I was surprised when you said he was an NBA player but just a quick lookup showed he wasn't. The looting part is actually a minor reason for the possible damage of the economy of the US. Besides, the police exist there, even if there was a riot ongoing, they'd still have to do their jobs properly aka stop people from robbing. The main reason for the bad state of economy is as you said, the effects of the lockdown of the corona virus. This was why the government kept on printing money to give to the people so that they can spend, sadly, most of those given didn't actually spend theirs, making the government remain in quite a pickle.
Perhaps there are some connection to NBA players as others have pointed out.
It's true that this could be the worst financial meltdown of US and so does the rest of the world. Anti-racism ≠ crypto benefiting. This is just an isolated case and it doesn't mean that people are going full crypto because they hate the US government. We might see this issue simmering down in the next couple of months.
June 04, 2020, 08:40:24 PM
He was a good friend to an ex NBA player.
I will look for link.
Ex-NBA player Stephen Jackson was a life long friend of George see link below:
https://www.nbcnews.com/news/us-news/ex-nba-player-stephen-jackson-mourns-best-friend-george-floyd-n1216386
Now that is cleared up.
It would be nice if I could fix the hundreds of year of racial hate in my country just as easily as I fixed the error about George being an ex NBA player.
Sadly I can't.
I will look for link.
Ex-NBA player Stephen Jackson was a life long friend of George see link below:
https://www.nbcnews.com/news/us-news/ex-nba-player-stephen-jackson-mourns-best-friend-george-floyd-n1216386
Now that is cleared up.
It would be nice if I could fix the hundreds of year of racial hate in my country just as easily as I fixed the error about George being an ex NBA player.
Sadly I can't.
June 04, 2020, 08:36:55 PM
Dude was a Truck Driver and a Security Guard. Damn, I was surprised when you said he was an NBA player but just a quick lookup showed he wasn't. The looting part is actually a minor reason for the possible damage of the economy of the US. Besides, the police exist there, even if there was a riot ongoing, they'd still have to do their jobs properly aka stop people from robbing. The main reason for the bad state of economy is as you said, the effects of the lockdown of the corona virus. This was why the government kept on printing money to give to the people so that they can spend, sadly, most of those given didn't actually spend theirs, making the government remain in quite a pickle.
June 04, 2020, 07:41:21 PM
Because no one seems to be asking this, i'll start. How exactly is US economic catastrophe is caused by anti-racism movement? Recession has been predicted long time ago.
And how exactly we shall see it impacting btc?
And how exactly we shall see it impacting btc?
June 04, 2020, 07:33:10 PM
We might see a global economic collapse if the US government cannot control the crowd that is rampaging on the streets. If the USD falls then the American government cannot pay their debts and will result with a huge hole in world banks balance sheet that could even affect other countries resulting into much bigger financial crisis.
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