Topic: Economic situation around the world and Bitcoin - page 7. (Read 947 times)

no no, not anytime soon.
u know, and i guess people of the world know too, bitcoin its a final choice.
since the bitcoin can drop 20% a day, people must think more than 2 times for make it assest like gold.

Not that easy, dude, the problem of bitcoin adoption so far is regulation, bitcoin adoption is limited by regulations of each country causing a lack of equitable knowledge of crypto currencies. Not only that, understanding of gold and bitcoin in economic crisis is still unclear especially on bitcoin so most of them would prefer gold.

The biggest impetus of bitcoin is on investors, especially ICO / IEO investors. When ICO was still popular in 2017, bitcoin was able to reach ATH. At the moment I do not know very well whether,  economic situation will side with gold or bitcoin, if there is a bad FUD against bitcoin then I am sure this holder will run to gold.

the possibility of economic conditions could have an effect on the price of bitcoin if the economy is good there will be many who make transactions using bitcoin while if it is not good it will be few who make transactions using bitcoin and will make the market quiet.

The prices of Golds and other precious metals that you mentioned is also depreciating, but not as much as bitcoin have because of its volatility. It is true that people don't want to go that far risking their capital on something they are not even sure of, and that is investing in bitcoin or other cryptocurrencies, but, going for Bitcoin instead of Gold is much superior, bold, and risky decision that they could ever made but securely going to give them a lot of profits in the long run.

Nonetheless, there is a 40:60 chances that they will choose bitcoin, you can't risk what you all have if your daily needs is on the line.

Wait, you don't need to judge them. For me you sounds like you are belittling them. Anyway, always keep in mind that greater investment doesn't necessarily means greater profits. Best example? The early adapters. They invested only few bucks back on those days but some of them are now billionaires.

Just invest as much as you, let it accumulate then wait for btc's price to skyrocket. That's it, you can now earn a decent amount of money .

Venezuela adopted bitcoin with a hope to cope up.with hyper inflation. Let us be clear that crypto will not fully help a country to fix economic problem. True that it can be a good way to open new opportunities and help ease a new money system, however it cannot fix the whole economy if it is already suffering.

There may be some instances of it but we can't say bitcoin has prominent share in investment market in third-world countries. People still rely on traditional means like gold or invest in stock markets. Although Bitcoin is quite popular in these countries but hardly 2-3% population really invest in Bitcoin.  It may be a good investment at individual level and several lives do change with Bitcoin investment but it is too soon to link Economy as whole with Bitcoin.

All right we have Solution here!
We need to move Europe, Asia and USA Capital into Bitcoin.

I Hope to see more capital in crypto!

Recession???
Fed just started money printing!!
What recession u talk about here?
Recession it was all Ready.
Same for Europe.

The gold market will indeed happen but before that happens I think the world economy and by various countries will adopt Bitcoin as a digital currency for online payments.We know that currently the world economic turmoil is underway, between China and USA they are fighting to become the No. 1 in the world.

The young generation can do nothing if they are pennyless. Pab said it perfectly:

People looking at massive adoption in Africa should really do some math first, it's not how many you are but how much $ you have in your pocket.
Just for a moment let's look at some numbers.
Europeans (400millions) spend on tourism more than the entire GDP of Nigeria (200 million).
Can you people even imagine the difference between the purchasing power?



You probably have no idea what a country adopting bitcoin means.
There is no country that has adopted bitcoin in the world, just because it has made bitcoin payments legal it doesn't mean adoption.
Has Spain adopted eBay? Has Portugal adopted KFC? Has Canada adopted PayPal?

Also...Ghana...the new financial capital of the world...s/


It will be as popular as their own currency the moment I see 30 million transactions in the chain a day originating from Venezuela.
Oh...wait!!!
Let's stop with all those bs about a country surviving because of bitcoin!
Seriously, this stupid propaganda has reached madness levels.

Why can't you people see bitcoin as a normal currency that is used by people who afford to buy things it in places where there are shops and businesses to do so? But no, you have to find the most usage in some forgotten 5th world country where there is only a hyena selling two gazelle horns for 100 satoshis.
Just as bad, whenever a country falls, thousand lose their job, kids go hungry....this is good for bitcoin. Soon moon!!!! Some of you are worse than those corrupt governments with your ideas.

There are definitely a direct correlation between what happens in global markets and what is happening with the Bitcoin price. We see a lot of third world citizens buying more bitcoins to protect the value of their wealth, when their economy are struggling. Bitcoin as a store of value has proven that it is just as good as Gold and in some instances even better than Gold as a store of value.  

Hyperinflation in Fiat currencies are Bitcoin's best friend, because it serve as a alternative protection when these currencies fail to protect people's wealth.  

Talks between the USA and China are definitely going to fail. The Chinese leadership is gambling that Trump won't get re-elected and that there will be another "softer" president in place by Jan 2021.

So the stand-off will continue and whether the US goes into recession depends on how resilient their economy is and whether they can shrug off slowdowns in the rest of the world.

Even if Gold market pop the bubble it's never going to bring any benefit to bitcoin. People think that Gold is a much more safer alternative even if experiences a major downfall it's because most of the masses doesn't even holds golds for trading or speculative purposes. They do it for investment and personal finances to maintain there asset base over a long term. So gold is more of a long term investment. Therefore people would still hold with their gold because they know gold does always rises one day no matter how hard it falls.
Exactly the world Economic order has always been manipulated and disrupted. It's been here for 1000 years. Earlier we used to face political disturbances at large scale in form of wars which lead to economic disturbances these days it's much more about the international transactions & Trade wars. Economy has never been in a good shape

Generally speaking, whenever and wherever there can be chaos, turmoil or just any economic and political uncertainties, there is a chance that Bitcoin can be playing like a wealth protector to those who are willing to convert some of their money into cryptocurrency. We have witnessed this in Venezuela, in Zimbabwe and with what you mentioned here, in Ghana. The reason is, of course, the problem of hyperactive or running inflation rate which the government find it hard to control and given solutions with. We know that in times of great inflation, Bitcoin can be a good rescuer though at the same time its volatility can also be an issue on the other hand. The impact is of course there but if the situation could not convert into higher-than-usual demand then it will just be a minuscule factor for the price movement of Bitcoin. I am not well-versed on the gold market but I think I have to search for its "pop the bubble soon" claim of yours.

Name a period of time, when the economic system was in good shape? It's just like water for me, I think this general disorder of the Economic system is mainly responsible for some countries negative attitude towards some countries, like China and the USA, Iran and the USA and so one. So this economic situation is just intentional and this is nothing but an economic war and it's called modern war, But this crisis never push the people to get in touch with Bitcoin, We all know that Bitcoin is a more risky and shaky platform so it will not bring any positive change regarding this issue. On the other hand, people from Venezuela and Ghana are not playing any massive role in this blockchain system because they are still within the country's crisis, so it doesn't make any positive sense for me.

They might not have much in the way of savings in the current market, but they are using BTC as a way to survive now, and it's almost as popular as their main currency due to the issues with that.

You aren't very specific here, but I'm assuming your talking about Venezuela and Ghana's economies right, op?

There is no bitcoin bubble, it's all just a term random people throw around, and comparing BTC (a very volitatle cryptocurrency) to gold (a stable investment) is not a fair comparison.

i cannot conclude the current situation which may differ in some countries, have seen progress towards a better direction and hope there are no problems in the future
a country can't give big impact if other country actually have a different view

Which economic situation? You're not specific here. It is not only Venezuela and Ghana that are adopting Bitcoin. There are many other countries that are already open for Bitcoin. This is just the beginning though. There are still countries that are not yet raising their green flag. Sooner or later they will join the Bitcoin community of nations.

The gold market does not and cannot burst the bubble because there is no bubble in the first place. And there is no necessary competition between the two. Bitcoin could be treated as a gold alternative just as it is also treated as a fiat alternative.

People would be free to come in to the cryptocurrency scene should they feel like it, although I still believe that most of them would cling on to their dear properties and stocks because they still believe that it's the best way going forward short-term. Gold is still a best bet for today even though some people feel like it will go down south, but I doubt it. For the last 10 years, gold has been doing a good for the last 40 years and I still believe it has the capacity to withstand all these economic fiasco that is happening worldwide. Some people are already liking the idea of hedging and profiting from bitcoin, and are already doing the transitions but for a large-scale movement? I don't think we're on that level yet.